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Europe’s self obsession nurtured its naivety about China for the wrong reasons. It’s time for a reality check

The Chinese President Xi Jinping’s Europe tour is attracting ess media attention than usual, squeezed as it is between the long-awaited release of the Mueller Report in the United States, and the ever more bewildering twists of Britain’s exit from the European Union.That does not detract from its importance, embracing meetings with Italian Prime Minister Guiseppe Conte, French President Emmanuel Macron, German Chancellor Angela Merkel, and the European Commission’s President Jean-Claude Juncker… Source link

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Singapore 

Singaporeans spend more time playing video games than South Koreans, Japanese: Survey, Singapore News

Local gamers spent more time playing video games than their East Asian neighbours, a survey by US-based edge cloud services provider Limelight Networks has shown. Singaporean gamers spent 7.44 hours on average each week playing video games, compared with South Koreans (6.69 hours) and the Japanese (6.88 hours). The Germans spent the most time playing such games, spending an average of almost eight hours a week. They were followed closely by United States gamers (7.61 hours) and then by Singaporean gamers. The survey was based on responses from 4,500 consumers…

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Vietnam 

Central bank issues treasury bills for the first time in five months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI – Liquidity in the interbank market has been abundant, helping the State Bank of Việt Nam (SBV) resume the issuance of treasury bills after five months to withdraw Vietnamese đồng from the banking system. Reports from Saigon Securities Incorporation (SSI) showed the SBV withdrew VNĐ17 trillion (US$729.6 million) via the issuance of seven-day bills at interest rate of 3 per cent per year. In addition, the central bank also net withdrew another VNĐ6.4 trillion via open market operation (OMO). According to…

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Nuclear shares soar after China plans to invest US$12 billion in new reactors for first time since 2016

Nuclear power related shares soared across the board on Tuesday in Hong Kong and China after Beijing announced plans to invest 81.2 billion yuan (US$12 billion) in four new reactors for the first time since 2016.CGN Mining, a unit of state-owned China General Nuclear Power Group (CGN) that trades in uranium fuel, jumped 15 per cent to 38 Hong Kong cents in Hong Kong. CGN Power, a nuclear power station operator under CGN, also climbed 3.2 per cent to HK$2.27, extending a four-day winning streak… Source link

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China 

It’s about time someone yells ‘It’s trade, stupid’ to Trump’s trade negotiators and enlighten them on the folly of their errors

Bill Clinton said “It’s the economy, stupid” during his 1992 US presidential election to alert then President George H. Bush to the state of the American economy.Now, someone needs to tell Donald Trump “it’s trade, stupid” and draw his attention to the dangerous slowdown in global commerce caused by his trade war.Much damage already has been done. Even in the highly unlikely event that Trump were to call off his belligerence, the damage will sill be felt. Economic slowdown has gained a momentum… Source link

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China 

Li Keqiang says it’s time for Chinese government to ‘turn the blade inward’ to boost jobs growth

China has pledged to create more than 11 million new jobs this year – equivalent to the population of Belgium and more than that of Hong Kong – as it tries to ensure social stability amid an economic slowdown and rising tensions with foreign countries.Wrapping up the annual legislative sessions on Friday, Premier Li Keqiang said Beijing was aware of the downward pressure from the economy, with GDP growth slowing to 6.6 per cent last year – its weakest pace since 1990.But he ruled out any… Source link

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Hong Kong’s monetary authority steps in for the second time in a week to prop up the local dollar as interest rate gap widens

Hong Kong’s de facto central bank has stepped into the foreign exchange market for the second time in a week, spending HK$3.925 billion (US$500 million) in its latest outing to prop up the local currency and keep it within the limits of a trading band with the US dollar.The local currency changed hands on Wednesday morning at 7.8498 per dollar, hovering near the 7.8500 lower limit of a trading band introduced in 2005. The interventions this week will reduce the city’s aggregate balance of… Source link

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Vietnam 

It’s time to observe the unobserved economy – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News Võ Trí Thành* The unobserved economy is not a recent phenomenon, so not a new concept. Concern about the influence of unmeasured economic activities has been growing since the beginning of the 20th century.  Back in 1914, economist Helfferich K. took the underground economy into account when estimating the size of Germany’s national income for 1888-1913. Broesterhuizen G.A.A.M., in his paper, “The unobserved economy and the national accounts of the Netherlands”, in 1982 investigated the possible distortion of officially measured GDP caused by…

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China stocks keep on climbing, breaking through resistance level of 3,000 for first time since June

Chinese stocks hit their highest level since June on Monday’s open, a day before the country’s annual political summit begins and as a trade deal with the US was reported to be close.The Shanghai Composite gained 0.73 per cent at the open, or 21.93 points, to 3,015.94, breaking the 3,000 resistance level it last breached in June, back when the trade war really started heating up. It is likely to keep momentum and close Monday trading above the line, as “the central government likes to see the… Source link

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Hong Kong Exchanges and Clearing aims to be the go-to giant for investment in Asia time zone in three-year plan

Hong Kong Exchanges and Clearing, operator of the city’s stock exchange, unveiled a three-year strategic plan to make it the world’s go-to market in the Asia time zone and to bolster its gateway role for investment in and out of mainland China.Hong Kong must compete with such rivals as New York and Shanghai, and is embracing technological innovations to do so.“The rapid acceleration in technological innovation is opening new doors, so we will focus on applying new technologies to modernise our… Source link

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