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Anyone who has been to China would have noticed how much more expensive foreign goods cost there. From Starbucks to Nike, Haagen Dazs to Prada, foreign brands are often sold at a hefty premium in the Mainland.
This infographic explains why this is so and sheds some light on why there are often throngs of Chinese shoppers queuing up outside a luxury store in Hong Kong or anywhere else around the world.
With its economy flat lining and being held up by oil and gas exports, Russia desperately needs to increase the scale of those exports. On the face of it the massive $400 billion deal Russia signed with China on 21 May, for a 30 year gas supply contract, looks just the ticket to deliver that increase over the long haul. However, the deal has a number of non-trivial obstacles to overcome, chief of which are disagreements between China and Russia over pricing and the difficulty Russia may find in funding the required pipeline. Read more
Joseph E. Stiglitz,
Stephen S. Roach,
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