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Business / Trade in Eastern Asia

  • Free Trade With South Korea Works

    SOUTH KOREA, 2017/10/16 Thankfully, President Donald Trump’s threats to summarily “terminate” the free-trade transaction between the U.S. and South Korea have so far proved blank. Presently, as the two sides sit down to renegotiate, there’s a luck to make some real improvements. By most measures, the agreement, known as Korus, has been broadly beneficial since it came into result in 2012. Trade between the two nations has expanded significantly, tariffs have been greatly reduced, and a crucial strategic alliance -- presently being strained by North Korea’s nuclear aggression -- has been strengthened.
  • Exports hit all-time high, USD 55.1 billion in Sept.

    SOUTH KOREA, 2017/10/15 Korea’s exports were worth USD 55.1 billion in September. This is the strongest monthly export figure in 61 years, ever since the Korean government started to track trade data in 1956. On Oct. 1, The Ministry of Trade, Industry and Energy released data on exports and imports in September 2017, which showed that the country enjoyed a trade surplus that month of USD 13.7 billion.
  • Russia-China trade turnover up 35% in first half of 2017

    CHINA, 2017/09/07 Trade between China and Russia exceeded $38 billion in the initial half of this year, according to Russian Deputy Prime Minister Dmitry Rogozin who said trade with China had recovered better than with other trading partners. "The bilateral trade [between Russia and China – Ed.] is still demonstrating robust increase..," Rogozin said, adding that "China’s trade with Russia demonstrated the best recovery dynamics compared with other major international partners, inclunding the EU, ASEAN, USA, Japan and the Republic of Korea."
  • China welcomes Guinea to take part in Belt and Road Initiative

    CHINA, 2017/09/07 China welcomes Guinea to participate in the Belt and Road Initiative, a move that will benefit the peoples of both nations, Chinese President Xi Jinping told his Guinean counterpart Alpha Conde on Tuesday. Conde is in the southeastern coastal city Xiamen to attend the Dialogue of Emerging Market and Developing Nations on the sidelines of the ninth BRICS summit.
  • Putin says looking forward to developing strategic partnerships with BRICS

    CHINA, 2017/09/04 Russian President Vladimir Putin said Russia highly values the multifaceted cooperation with BRICS to create a equitable multipolar world and equal development conditions for all, in a signed article published on Friday. In the article for the 9th BRICS Summit to be held in Xiamen, China on Sept. 3-5, Putin said he appreciated China's significant contribution as this year's chair of the organization, "which has allowed the BRICS nations as a group to move forward in all key areas of our partnership, inclunding politics, the economy and culture."
  • The Mixed Fortunes of the BRICS Countries, in 5 Facts

    CHINA, 2017/09/04 This weekend, the BRICS countries—Brazil, Russia, India, China and South Africa—will convene in the Chinese city of Xiamen for their annual summit. It wasn’t long ago that the BRICS were heralded as the future of the globalized economy. Then, for a variety of reasons, the group lost a bit of its luster. Now’s the time to check back in with them. 1. BRICS straddle one quarter of the world The story of the BRICS—or technically, BRIC countries (South Africa joined in 2010)—begins with Goldman Sachs chief economist Jim O’Neill, who wrote a paper in 2001 arguing that these were the emerging superstars most likely to dominate the 21st century globalized economy. Taken together, these five countries cover 40 percent of the world’s population and more than 25 percent of the world’s land. The sky seemed the limit.
  • Xiamen BRICS summit in China

    CHINA, 2017/09/04 TWO DAYS before Prime Minister Narendra Modi is scheduled to meet Chinese President Xi Jinping, sources indicated that New Delhi is willing to “move on” next the Doklam border stand-off and work towards normalising the relationship. Modi and Xi are likely to meet at noon on Tuesday, just before the Prime Minister heads off to Myanmar next the BRICS Summit. The bilateral conference is likely to focus on repairing the damage done to the relationship, and would dwell on “confidence-building” measures, next the tense stand-off where the rhetoric coming out of Beijing was perceived to be extremely hostile. Efforts will be made to “bury” the incident that has cast a shadow on the ties. The bilateral meeting is likely to focus on repairing the damage done to the relationship, and would dwell on “confidence-building” measures, after the tense stand-off where the rhetoric coming out of Beijing was perceived to be extremely hostile.
  • China, Pakistan vow to further deepen bilateral pragmatic cooperation

    CHINA, 2017/08/15 China and Pakistan on Sunday promised to deepen their pragmatic cooperation in various fields during a conference between Pakistani Prime Minister Shahid Khaqan Abbasi and visiting Chinese Vice Premier Wang Yang. Wang Yang is in Pakistan to attend activities marking the 70th anniversary of Pakistan's independence at the invitation of the Pakistani government. Noting that China and Pakistan are "iron friends" and all-weather partners of strategic cooperation who always understand and support each other, Wang said Chinese President Xi Jinping's successful visit to Pakistan in 2015 has ushered in a new chapter of the relations between the two nations.
  • What Beijing’s ring roads say about China’s foreign policy

    CHINA, 2017/08/12 Visitors to China’s capital, Beijing, will notice it has a series of ring roads circling out from the centre, around the Forbidden Palace and Tiananmen Square. The initial ring road vanished long ago. The second follows the old contours of the ancient city walls felled by Mao Zedong (毛澤東) during the early years of his drive to impose Soviet inspired modernity. The third, fourth and fifth gravitate out until, deep into the suburbs, the relative peace of the sixth ring road offers at least some space for the uber-rich to take their Ferraris out for a run.
  • Belt and Road Initiative "Malaysia and china"

    CHINA, 2017/08/12 Senior official visits country ahead of ceremony to mark start of work on strategically vital piece of transport infrastructure. A Chinese national councillor has arrived in Malaysia to visit the site of a controversial railway project located in a strategic position for Southeast Asian trade routes.