In The News

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...
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...
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...
Daniel Boffey and Jon Henley September 12, 2019
The economic warnings for a post-Brexit United Kingdom are dire: shortages, traffic and chaos. That could make the country desperate and ruthless, eliminating social and environmental regulations to compete. The country could become a Singapore-on-Thames, she suggested. The UK prime minister’s negotiator advised that the UK seeks a “clean break” from the EU. “Merkel also warned of the economic...
Matthew Goldstein, Danny Hakim and Jan Hoffman September 10, 2019
The United States strives to bring an end to the opioids crisis, preventing addition and punishing pharmaceutical companies, distributors and physicians that doled out pills in alarming numbers. Purdue Pharma is in negotiations with litigators, but the owners “want to keep selling OxyContin and other drugs abroad for as many as seven more years, through another company they own, Mundipharma,...
Jung Min-kyung September 5, 2019
Myanmar’s government opened its economy this decade, and South Korean firms see “economic potential and geographic attractiveness,” reports Jung Min-kyung for the Korea Herald. For example, Posco International, described as the trade and resources development arm of Korea’s leading steelmaker, has completed a rice processing complex in Myanmar’s rice-producing Ayeyarwady region. The facility...
Vivienne Walt September 1, 2019
China’s investment in the historic port of Piraeus has lifted Greece’s economy and dampened populist opposition to foreign investment. “Situated at the edge of Athens – a short sail from the Middle East and Africa – the port has been a strategic jewel for nearly 2,500 years, ever since the Athenians and Spartans defeated the Persian emperor in a nearby sea battle for Mediterranean supremacy,”...