In The News

India Steps Back From RCEP Trade Pact: Reuters

Matthew Tostevin November 7, 2019
China has joined with ASEAN, Japan, South Korea, Australia and New Zealand to develop the Regional Comprehensive Economic Partnership, or RCEP. If successful, RCEP, could become the world’s largest trade agreement. The agreement gradually reduces tariffs and streamlines export requirements, reports Matthew Tostevin for Reuters, and “offers an incentive for companies to build supply chains within...

Russia Charms First Africa Summit: Financial Times

Henry Foy October 29, 2019
About $12.5 billion worth of deals were struck during the first ever Russia-Africa Summit, though many are memorandums of understanding that may not result in actual investments, writes Henry Foy for the Financial Times. Russia will export nuclear power plants, fighter jets and missile defense systems to African countries, an attempt to regain influence on the continent. Many of agreements focus...

Brexit Is a Cultural Revolution: Atlantic

Yascha Mounk October 27, 2019
Boris Johnson’s Brexit withdrawal agreement, similar to one proposed by former Prime Minister Theresa May, won approval in the House of Commons. Members of parliament who feared Britain would lose influence with May’s plan have higher expectations for a similar plan proposed by Boris Johnson. “The next weeks still hold a lot of uncertainty; from new elections to a no-deal Brexit, all options...

Brexit Bill “in Limbo”: BBC

October 23, 2019
Uncertainty over Brexit continues. The British parliament took a step toward Brexit, approving a withdrawal agreement, but declines to hurry, rejecting a three-day timeline as proposed by the prime minister. A few days earlier, parliament forced the government to seek an extension to ensure a deal is in place before the UK leaves the European Union. Boris Johnson still wants the UK to leave by...

PayPal’s Breakthrough in China: Financial Times

Yuan Yang October 4, 2019
After acquiring a 70 percent stake of GoPay, a small Chinese online payment company and receiving approval from the People’s Bank of China, PayPal is the first foreign company to win Chinese payments license. Visa and Mastercard are waiting for license approvals. PayPal will face a huge market opportunity since China’s third-party online payment has risen to ¥277 trillion in 2018. And PayPal’s...

Africa’s New Trade Zone: African Business

October 2, 2019
Africa offers great potential for growth with immense resources and a young population, and the African Continental Free Trade Agreement aims to increase regional trade integration, develop regional supply chains and diversify exports: “the agreement will be fully supported with well-defined rules of origin; schedules of tariff concessions in trade in goods; an online continental non-tariff...

China’s US Delisting Fears: Bloomberg

September 30, 2019
The Trump administration has considered removing Chinese firms from US stock listing, report unnamed officials. Then, a US Treasury statement suggested there are no plans for delisting at this time. China responded with assurances that it will continue to open its financial markets and encourage foreign investment, reports Bloomberg. “A U.S. crackdown on capital flows would present a new pressure...