In an address to the annual Belt and Road Forum for International Cooperation in Beijing on Friday Chinese President Xi Jinping said, “we need to maintain that all cooperation is conducted under the sun and work together to combat corruption with zero tolerance”.
“We need to pursue high-standard cooperation,” he said . “We will adopt widely-accepted rules and standards, and encourage participating companies to follow general international rules and standards in product development, operations procurement, tendering and bidding.” Xi unveiled the plan to rebuild ancient trading routes across Eurasia in 2013, calling it the “project of the century.” China’s government has since poured billions into investments from Africa to the South Pacific. The president champions it as a means to spur development, goodwill and economic integration.At least seven countries that have agreed to Belt and Road projects have suspended, scaled back or terminated them, or experienced backlash for their involvement in the program.
What does Africa have to ensure its own economic growth and development? Is the _AfricanUnion implementing any plans that were last agreed on especially self-sustainability, free trade zone, strengthening of regional economic blocks, monetizing of Sports & Culture
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Top honour for Survé in China | IOL Business ReportThe Belt and Road News Network has become the largest and most widely participated media event in China
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BUSINESS MAVERICK: After a bruising battle in the gold sector, tense wage negotiations loom in the platinum spaceFor the militant AMCU union, smarting from a disastrous five-month strike at Sibanye-Stillwater’s gold mines that achieved nothing beyond making its members poorer, the stakes are high in pending wage talks. Amcu battered its way on to the platinum belt seven years ago in part because it was able to take advantage of platinum’s company-by-company approach to wage negotiations. That is no longer an advantage. Each company is going into the talks from a renewed position of strength. RaymondSuttner AMCU should comply with the law and should be given a chance to do so
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BUSINESS MAVERICK: China, South Africa and the middle-income trapChina and South Africa seem so distant and so different. Chinese economic growth has been fabulous; over the past decade, South Africa’s has been miserable. China is enormous; SA is small… and so on. But in one singular respect, China and South Africa are similar — they may be both caught in the middle-income trap. If there is such a thing.
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Business Maverick: Reported Fires Threaten China’s Electric-Car QuestIn China, where the quality and safety of electric vehicles and their batteries have been increasingly called into question, electric cars bursting into flames have underscored longstanding issues with China's electric-vehicle push, writes Adam Minter for Bloomberg Opinion.
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Business Maverick: Asian shares up after Nasdaq, S&P 500 hit record highsEquity markets in Asia rose on Wednesday morning after upbeat earnings helped the Nasdaq and S&P 500 indexes reach record closing highs on Wall Street overnight, while oil retreated from its near six-month highs.
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BUSINESS MAVERICK ANALYSIS: Central banks’ musical chairs put independence up for grabsA changing of the guards at central banks around the world at a time when the value of both political and operational central bank independence is up for debate could yield some surprises. History shows these can be pretty dramatic as tensions run high between presidents and bank governors.
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