BRI white paper; More stimulus talk; Country Garden; Improving legal environment for private business; Huawei
Summary of today’s Essential Eight:
BRI white paper - In advance of the Belt and Road Forum next week the government released a white paper titled “The Belt and Road Initiative: A Key Pillar of the Global Community of Shared Future”. BRI financing may be drying up but the concept remains a central piece of Xi’s efforts to reshape the global order, along with the GDI, GSI and GCI. As the white paper says “economic globalization dominated by a few countries has not contributed to the common development that delivers benefits to all. Instead, it has widened the wealth gap between rich and poor, between developed and developing countries, and within developed countries. Many developing countries have benefited little from economic globalization and even lost their capacity for independent development, making it hard for them to access the track of modernization. Certain countries have practiced unilateralism, protectionism and hegemonism, hampering economic globalization and threatening a …