The European Commission on Monday said China cannot be a free-rider in global trade and had to take responsibility for its conduct in global trade systems.
Speaking to the BBC, the European Union’s top trade official Karel De Gucht said China is expected to follow international trade rules with respect to dumping, subsidies and cheap capital.
The Earth may warm at a slightly slower rate in coming decades than scientists were predicting six years ago, but the world is still likely to be in for a temperature rise of double that regarded as safe, according to a new scientific study.
Chinese Premier Li Keqiang pledged on Monday to build trust with India and declared that ties between the Asian giants were key to world peace as he visited New Delhi only weeks after a recent flare-up in border tensions.
Speaking alongside his counterpart Manmohan Singh, Li said the purpose of his three-day visit to India was “to increase mutual trust and co-operation and face the future”.
This week offers the first major gauge of the health of the global economy in 2013, with huge implications for policymakers and investors for the second half of the year. Disappointing manufacturing and services data in April, particularly in the eurozone, U.S. and China, suggest a slowing economic recovery after a weak end to 2012.
Monday, May 20
Based on the latest data, Abenomics appears to be, for the moment at least, achieving its stated objectives. Yet for its recent success, Abenomics only addresses the symptoms, and not the real cause, of Japan’s long-term problems.
Co-authored with my Tokyo-based colleague Masashi Murata:
Timely central bank intervention helped prevent widespread global economic chaos but their unprecedented and dramatic action could result in potentially heavy losses when they begin to withdraw the extraordinary sums of money they pumped into financial systems around the world, the IMF warned on Thursday.
More and more companies are stashing their cash offshore and they are doing it at an alarming rate.
More than 30 percent of the world’s 200 richest people, who hold a collective net worth of $28 trillion, control part of their personal fortune through an offshore holding company or other domestic entity where the assets are held in directly, according to the Bloomberg Billionaires Index.
China’s environment ministry has given its approval for the construction of what will become the country’s tallest hydroelectric dam despite admitting that the project will have an impact on plants and rare fish, reported Reuters on Wednesday.
Global natural disasters have caused nearly $2.5 trillion in economic losses since the turn of the century, said a United Nations report on Wednesday, warning that the cost to the global economy will only continue to escalate unless businesses incorporated disaster risk management into their investment strategies.
The U.S. budget deficit will fall to $642 billion this year from $1.1 trillion in 2012 as higher tax revenues and spending cuts take effect, said the nonpartisan Congressional Budget Office on Tuesday.
With no further congressional action, the CBO added that the deficit will fall to $378 billion by 2015, a sharp contrast to the $1 trillion budget deficits in each of President Barack Obama’s first four years in office.
