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Business

China's Belt and Road getting reboot to clean up its image

BEIJING: Chinese President Xi Jinping’s grand Belt and Road Initiative is getting a makeover to tone down government rhetoric and tighten oversight, after allegations of corruption and a lack of sustainability dogged some of its highest-profile projects.

Markets Premium

Court questions law that underpins Trump’s trade policy

Judges hear arguments in suit brought by steel importers and foreign producers

Corporate News

Huawei clash shows deeper US-China battle for global influence

HONG KONG: The Trump administration has insisted the arrest of a top Huawei executive has nothing to do with trade talks. In Beijing, it’s just the latest US move to contain China’s rise as a global power.

Economy

BRICS and BRICS Plus: Unlocking growth potential

BRICS nations, comprising Brazil, Russia, India, China and South Africa, gathered in Johannesburg, South Africa on July 25, 2018 for their 10th summit, “BRICS in Africa: Collaboration for Inclusive Growth and Shared Prosperity in the Fourth Industrial Revolution.”

Business

Xi looks to Africa to counter criticism of aid efforts

BEIJING: President Xi Jinping is expected to use a gathering of dozens of African leaders in Beijing to push back against criticism that China’s vast development initiatives risked saddling emerging economies with debt.

Economy

Globalisation, inequality, convergence, divergence

KUALA LUMPUR: Economic divergence among countries and regions was never pre-ordained. According to the late cliometrician Angus Madison and other economic historians, the great divergence between the global North and South, between developed and developing countries, began around five centuries ago, from the beginning of the European, particularly Iberian colonial conquests.