The Eastern Economic Forum, Russia’s economic outreach to the world, attracted participants from 60 countries. The most notable ones were China and Japan. The EEF was held for three years continuously in Russia’s Far Eastern city of Vladivostok
In April 2018, it was revealed that Singapore has invested SGD 27 billion into the Chongqing Connectivity Initiative since the project broke ground in 2015. The four priority sectors are financial services, aviation, transportation and logistics, and ICT.
While addressing the opening of the Forum of China Africa Cooperation, Chinese President Xi Jinping sought to allay fears of not just African countries, but other countries which are part of the Belt and Road Initiative.
In the past few months, US-China relations have sunk to a state somewhere between frosty and hostile. This marks a major change since President Trump visited China in November 2017. There are several reasons for this.
North Korea’s economy suffered a negative growth of 3.5 percent in 2017, its worst setback in a decade. The disagreement with the US over its denuclearization process could delay the lifting of sanctions, while China-US competition in the Korean Peninsula may add additional uncertainty.
Malaysian Prime Minister Dr Mahathir Mohamad visited Beijing from August 17-21, 2018, with the aim of seeking understanding from his Chinese hosts that his government needs to re-adjust Malaysia’s financial situation.
Turkey’s currency dropped by 1/5 of its value against the US dollar on August 10, 2018. One of the most significant rescue packages came from Qatar which came up with USD 15 billion worth of investments for Turkey.
The incoming Imran Khan government of Pakistan will ask the IMF for a USD 12 billion bailout package, highlighting the new economic reality facing some Belt and Road Initiative participating countries and the need to formulate new rules governing the program.
China used more than 45 percent of global semiconductor production, and it only makes 15 percent of worldwide semiconductors locally. The country ran a trade deficit of USD 193 billion in 2017 on semiconductor trade.