Shanghai stocks notch fifth straight week of wins

(THIS ARTICLE IS COURTESY OF THE SHANGHAI CHINA NEWS AGENCY ‘SHINE’)

 

Shanghai stocks notch fifth straight week of wins

Huang Yixuan

Shanghai stocks retreated slightly on Friday, but still managed to close out a fifth consecutive week in positive territory.

The benchmark Shanghai Composite Index edged down 0.05 percent to 3,083.79 points, and the blue chip CSI300 Index closed 0.18 percent lower at 4,144.96 points. The smaller Shenzhen Component Index, however, rose 0.17 percent to 10,656.41 points, while the ChiNext Composite Index advanced by 0.18 percent to 1,832.74 points.

Turnover on the two major bourses totaled 695.4 billion yuan (US$99.8 billion), 56.1 billion yuan less than the previous session. Overseas capital continued to flow into the Chinese mainland market via the Stock Connect schemes, posting a net influx of 3.36 billion yuan by the close of trading.

Liquor shares were among the big decliners. Leading firm Kweichow Moutai extended its recent slump, falling by 4.55 percent to its lowest level since mid-September, as revenue and net profit growth in 2019 fell short of expectations.

Anhui Gujing Distillery Co fell 3.01 percent, while Anhui Kouzi Distillery Co shed 2.46 percent.

Home appliance firms were also among the losers, with Haier Smart Home Co closing 3.92 percent lower and Midea Group Co down 2.49 percent.

Real estate companies, transportation shares, and the catering and tourism sector also posted declines, while media firms, computer companies and the communication industry performed well.

On the STAR Market, 45 of the total 70 listed companies gained on the day.

For the week, the Shanghai Composite Index was up 2.63 percent, extending its rally to a fifth week in a row. Total turnover also expanded to 1.11 trillion yuan compared with last week’s 1.03 trillion yuan.

China: Xi says phase-one China-US trade deal benefits both sides, world

(THIS ARTICLE IS COURTESY OF SHANGHAI CHINA’S ‘SHINE’ NEWS NETWORK)

 

Xi says phase-one China-US trade deal benefits both sides, world

Xinhua

The phase-one economic and trade deal between China and the United States benefits both sides and the whole world, Chinese President Xi Jinping said on Friday.

In a phone conversation with his US counterpart, Donald Trump, Xi noted that the two countries have reached the phase-one agreement on the basis of the principle of equality and mutual respect.

Against the backdrop of an extremely complicated international environment, the agreement benefits China, the United States, as well as peace and prosperity of the whole world, Xi said.

For his part, Trump said that the phase-one economic and trade agreement reached between China and the United States is good for the two countries and the whole world.

Noting that both countries’ markets and the world have responded very positively to the agreement, Trump said that the United States is willing to maintain close communication with China and strive for the signing and implementation of the agreement at an early date.

Xi stressed that the economic and trade cooperation between China and the United States has made significant contributions to the stability and development of China-US relations and the advancement of the world economy.

Modern economy and modern technologies have integrated the world as a whole, thus making the interests of China and the United States more intertwined with each other, Xi said, adding that the two sides will experience some differences in cooperation.

As long as both sides keep holding the mainstream of China-US economic and trade cooperation featuring mutual benefits and win-win outcomes, and always respect each other’s national dignity, sovereignty and core interests, they will overcome difficulties on the way of progress, and push forward their economic and trade relations under the new historical conditions, so as to benefit the two countries and peoples, Xi said.

China expresses serious concerns over the US side’s recent negative words and actions on issues related to China’s Taiwan, Hong Kong, Xinjiang and Tibet, Xi said.

He noted that the US behaviors have interfered in China’s internal affairs and harmed China’s interests, which is detrimental to the mutual trust and bilateral cooperation.

China hopes that the United States will seriously implement the important consensuses reached by the two leaders over various meetings and phone conversations, pay high attention and attach great importance to China’s concerns, and prevent bilateral relations and important agendas from being disturbed, Xi said.

Trump said he is looking forward to maintaining regular communication with Xi by various means, adding he is confident that both countries can properly handle differences, and US-China relations can maintain smooth development.

Xi said he is willing to maintain contacts with Trump by various means, exchange views over bilateral relations and international affairs, and jointly promote China-US relations on the basis of coordination, cooperation and stability.

The two heads of state also exchanged views on the situation of the Korean Peninsula. Xi stressed that it is imperative to stick to the general direction of a political settlement, saying all parties should meet each other halfway, and maintain dialogue and momentum for the mitigation of the situation, which is in the common interests of all.

India slips to 112th in gender gap index, bottom 5 of health and economic fronts

(THIS ARTICLE IS COURTESY OF THE HINDUSTAN TIMES OF INDIA)

 

India slips to 112th rank on WEF’s gender gap index, in bottom 5 on health, economic fronts

While Iceland remains the world’s most gender-neutral country, India has moved down the ladder from its 108th position last year on the World Economic Forum’s Gender Gap Report to rank below countries like China (106th), Sri Lanka (102nd), Nepal (101st), Brazil (92nd), Indonesia (85th) and Bangladesh (50th).

INDIA Updated: Dec 17, 2019 05:37 IST

Press Trust of India
Press Trust of India

New Delhi
Worldwide, women now hold 25.2 per cent of parliamentary lower-house seats and 21.2 per cent of ministerial positions, compared to 24.1 per cent and 19 per cent, respectively last year.

India has slipped four places to rank 112th globally in terms of gender gap amid widening disparity in terms of women’s health and survival and economic participation — the two areas where the country is now ranked in the bottom-five, an annual survey showed on Tuesday.

While Iceland remains the world’s most gender-neutral country, India has moved down the ladder from its 108th position last year on the World Economic Forum’s Gender Gap Report to rank below countries like China (106th), Sri Lanka (102nd), Nepal (101st), Brazil (92nd), Indonesia (85th) and Bangladesh (50th).

Yemen is ranked the worst (153rd), while Iraq is 152nd and Pakistan 151st.

“The time it will take to close the gender gap narrowed to 99.5 years in 2019. While an improvement on 2018 -– when the gap was calculated to take 108 years to close — it still means parity between men and women across health, education, work and politics will take more than a lifetime to achieve,” the WEF said.

Geneva-based WEF, an international organisation for public-private cooperation, said this year’s improvement can largely be ascribed to a significant increase in the number of women in politics.

The political gender gap will take 95 years to close, compared to 107 years last year. Worldwide, women now hold 25.2 per cent of parliamentary lower-house seats and 21.2 per cent of ministerial positions, compared to 24.1 per cent and 19 per cent, respectively last year.

However, the economic opportunity gap has worsened, widening to 257 years, compared to 202 years last year. The report said one of the greatest challenges to closing this gap is women’s under-representation in emerging roles, such as cloud computing, engineering and data and AI.

The WEF had published its first gender gap report in 2006, when India was ranked relatively higher at 98th place.

Since then, India’s rank has worsened on three of four metrics used for the overall ranking. While India has improved to 18th place on political empowerment, it has slipped to 150th on health and survival, to 149th in terms of economic participation and opportunity and to 112th place for educational attainment.

The WEF said economic opportunities for women are extremely limited in India (35.4 per cent), Pakistan (32.7 per cent), Yemen (27.3 per cent), Syria (24.9 per cent) and Iraq (22.7 per cent).

It also named India among countries with very low women representation on company boards (13.8 per cent), while it was even worse in China (9.7 per cent).

On health and survival, four large countries — Pakistan, India, Viet Nam and China — fare badly with millions of women there not getting the same access to health as men, the WEF said.

It also flagged abnormally low sex ratios at birth in India (91 girls for every 100 boys) and Pakistan (92/100).

The WEF said India has closed two-thirds of its overall gender gap, but the condition of women in large fringes of India’s society is precarious and the economic gender gap runs particularly deep.

Since 2006, the gap has significantly widened and India is the only country among the 153 countries studied where the economic gender gap is larger than the political one.

Only one-quarter of women, compared with 82 per cent of men, engage actively in the labour market — one of the lowest rates globally (145th).

Furthermore, the female estimated earned income is mere one-fifth of the male income, again among the world’s lowest (144th).

Women account for only 14 per cent of leadership roles (136th) and 30 per cent of professional and technical workers.

“Violence, forced marriage and discrimination in access to health remain pervasive. The situation and the trend are more positive in terms of gender gaps in education… But a large difference persists for literacy rate; only two-thirds of women are literate compared with 82 per cent of men,” WEF said.

India ranks high on the political empowerment sub-index, largely because the country was headed by a woman for 20 of the past 50 years. But, female political representation today is low as women make up only 14.4 per cent of Parliament (122nd rank globally) and 23 per cent of the cabinet (69th), the report said.

Nordic countries continue to lead the way to gender parity and Iceland is followed by Norway, Finland and Sweden in the top-four. In the top-10, they are followed by Nicaragua, New Zealand, Ireland, Spain, Rwanda and Germany.

The WEF said one positive development is the possibility that a ‘role model effect’ may be starting to have an impact in terms of leadership and possibly also wages.

“For example, in eight of the top-10 countries this year, high political empowerment corresponds with high numbers of women in senior roles. Comparing changes in political empowerment from 2006 to 2019 shows that improvements in political representation occurred simultaneously with improvements in women in senior roles in the labour market,” the report said.

WEF’s Founder and Executive Chairman Klaus Schwab said, “Supporting gender parity is critical to ensuring strong, cohesive and resilient societies around the world. For business, too, diversity will be an essential element to demonstrate that stakeholder capitalism is the guiding principle.” The issue of gender gap is likely to be among key focus areas for discussion next month at the annual meeting of the WEF in Davos, Switzerland.

The WEF said it is has committed to at least double the current percentage of women participants at the Davos summit by 2030.

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Shanghai China: Households sign to relocate from downtown ghetto

(THIS ARTICLE IS COURTESY OF THE SHANGHAI CHINA NEWS AGENCY ‘SHINE’)

 

Households sign to relocate from downtown ghetto

Yang Jian
Households sign to relocate from downtown ghetto

Wang Rongjiang / SHINE

Pedestrians walk in the Qiaojia Road area on Saturday.

Over 2,400 households of residents living in Shanghai’s last remaining downtown ghetto will get relocated as most of them signed to accept the relocation deals over the weekend.

Some 92 percent of residents living in the western block of Qiaojia Road area in Huangpu District put their names on the dotted line on the first day the consultation process on Saturday.

The relocation can be begin as long as 85 percent of the residents agree. They can move to designated housing or receive cash compensation to purchase new properties on their own.

Officials with the Laoximen Subdistrict and neighborhood committees set up consultation offices to explain policies, answer question and help solve family disputes for the remaining residents who were still reluctant to leave.

Qiaojia Road is a small street in the old town, once the center of Shanghai, that covers 2 square kilometers. The road stretches for less than one kilometer. It was where Xu Guangqi (1562-1633), a scholar-bureaucrat of the Ming Dynasty, was born. His former residence is still in existence.

Painter Wang Yiting’s former residence is also on Qiaojia Road. In 1922, Wang welcomed Albert Einstein and his wife to the house.

Households sign to relocate from downtown ghetto

Wang Rongjiang / SHINE

Residents check the proportion of households signing to get relocated on Qiaojia Road on Saturday.

Households sign to relocate from downtown ghetto

Wang Rongjiang / SHINE

Residents celebrate when over 85 percent of households sign up to be relocated on Qiaojia Road on Saturday.

The condition of the historic buildings in the area has worsened and buildings that once housed only one family are now stuffed with five or six, sometimes more. Residents are still using chamber pots in the neighborhoods.

Huangpu has the largest amount of lane-style neighborhoods awaiting modernization, some 2 million square meters with shared bathrooms and kitchens. About 65,000 households in the downtown district are still using chamber pots.

The district government had planned to relocate or renovate 8,000 households each year until 2025.

It is part of a new round of face-lifting campaigns that have already been launched in Huangpu. They include the renovation of the former home of Shanghai Municipal Council and the city government near the Bund, the Chengxingli residential community and the Qiaojia Road Neighborhood.

As another key project, the nearly century-old former city government building is being preserved and renovated into offices, cultural and public space as well as commercial property. It will open to the public in 2023.

The Chengxingli neighborhood, a shikumen, or stone-gate community, on Beijing Road W., offers a new model for renovations in old neighborhoods. The project relocated some residents while renovating the living spaces of those who choose to remain.

Relocated families free up space for each remaining household. This space will be used for new kitchen and toilet facilities.

 

India: Factory output shrinks, rising inflation at 5.5%

(THIS ARTICLE IS COURTESY OF THE TIMES OF ISRAEL)

 

Factory output shrinks, rising inflation at 5.5% begins to hurt

Factory output contracted 3.8% in October after shrinking 4.3% in September, in sharp contrast with an 8.4% expansion in October last year. Retail inflation continued to surge in November, fuelled by soaring food prices, as prolonged rains dampened vegetable supplies.

BUSINESS Updated: Dec 13, 2019 08:01 IST

Gireesh Chandra Prasad
Gireesh Chandra Prasad

Livemint, New Delhi
Factory output contracted 3.8% in October after shrinking 4.3% in September, in sharp contrast with an 8.4% expansion in October last year.
Factory output contracted 3.8% in October after shrinking 4.3% in September, in sharp contrast with an 8.4% expansion in October last year.(Reuters File Photo )

India’s industrial output shrank while inflation swelled, official data released on Thursday showed, highlighting challenges for policymakers battling an economic slowdown amid surging food prices.

Factory output contracted 3.8% in October after shrinking 4.3% in September, in sharp contrast with an 8.4% expansion in October last year. Retail inflation continued to surge in November, fuelled by soaring food prices, as prolonged rains dampened vegetable supplies.

Experts said if economic growth does not show signs of an uptick in the December quarter, the Reserve Bank of India (RBI) may come under pressure to give further monetary stimulus to support the economy, given the fact that retail inflation is driven by food prices and is not across the board. Vegetable prices surged 36% in November from a year ago, data released by the National Statistics Office showed.

Retail inflation surged 5.54% in November as food price inflation measured by the Consumer Food Price Index rose 10% in November from 7.89% in October.

Pointing to a demand slump in the economy, manufacturing output, which accounts for three-fourth of factory output, contracted 2.1% in October. The contraction in consumer durables deepened in October. Production of items such as cars and household appliances contracted 18% in October, after shrinking 9.9% in the month before.

Capital goods production that reflects investments in manufacturing continued its sharp contraction in October too. It has now contracted by over 20% for the last three months. Energy generation, seen as a proxy for living standards, too remained muted. Mining output covering mainly coal and crude oil contracted by 8% in October, and electricity generation by over 12%.

“The broad-based industrial weakness continues. The fiscal and monetary policy measures will have a lagged impact on the economy,” said DK Joshi, chief economist at Crisil Ltd. “If economic growth remains weak in the December quarter, then there is scope for monetary policy to further support economic growth.” He said the factors that may have an impact on retail inflation in the weeks ahead include higher telecom tariffs and a possible increase in goods and services tax rates.

According to Sunil Kumar Sinha, director of public finance and principal economist at India Ratings and Research, the industrial output figures clearly suggest that the festival season could not arrest the declining growth momentum of the industrial sector, resulting in the manufacturing sector clocking degrowth for the third consecutive month in November. “This is unprecedented as the new series of IIP with 2011-12 as base year so far has not witnessed such consecutive months of degrowth either in the manufacturing, electricity or the industrial sector as a whole,” said Sinha.

The government has announced various measures to support the automobile industry, exporters, non-bank lenders and housing financiers in addition to announcing a sharp corporate tax rate cut for domestic companies not availing of any tax breaks and to new manufacturing companies. RBI has so far cut its benchmark repo rate five times in a row this year totaling 135 basis points.

India’s economy grew 4.5% in the second quarter, its slowest pace since March 2013.

Egypt Govt Pledges Not to Dismiss Public Sector Employees

(THIS ARTICLE IS COURTESY OF THE SAUDI NEWS AGENCY ASHARQ AL-AWSAT)

 

Egypt Govt Pledges Not to Dismiss Public Sector Employees

Saturday, 14 December, 2019 – 12:30
Egyptian President Abdel Fattah El Sisi (Reuters)
Cairo- Waleed Abdurrahman
The Egyptian government stressed on Friday that it has no intention to dismiss any state employees after moving to the new administrative capital.

It affirmed seeking to maintain all employees’ rights along with developing and raising the efficiency of the state’s administrative apparatus and staff.

The government said it has “monitored reports on some websites and social media pages about its intention to forcibly dismiss three million employees of the state’s administrative apparatus in line with moving to the new capital.”

Notably, the government plans to relocate its ministries and employees to the new capital, where they will start operating by mid-2020. While investors have started building residential and educational neighborhoods.

This step aims at improving and upgrading the quality of services provided to citizens.

In January 2018, Egyptian President Abdel Fattah El Sisi inaugurated the largest mosque and church in the administrative capital.

According to the cabinet’s Media Center, the government seeks to improve the performance of the state’s administrative apparatus, while paying special attention to the human component by designing training programs for workers in this sector.

Its step targets preparing cadres capable of managing the process of institutional change in order to build an efficient and effective administrative apparatus that applies the standards of governance and corresponds with Egypt’s Vision 2030.”

Egyptian government spokesman Nader Saad noted in November that there are several ways for employees to reach the new administrative capital, as the cabinet has been studying options for bringing employees to the capital, either by contracting with transportation companies or by paying cash for transportation costs.

During a meeting with Prime Minister Mustafa Madbouly in June, Sisi called for “commitment to the decided plans for construction work in the new administrative capital and the speedy completion of the main and internal road hubs and site coordination work.”

Meanwhile, the government denied Friday news circulated on its intention to privatize the “Real Estate Registration and Documentation Authority” due to its inability to automate its services.

The Ministry of Justice confirmed that the Authority will remain an official government agency that serves all citizens.

It added that the authority offices’ automation is carried successfully, with the aim of improving the level of services provided in a way that contributes to facilitating procedures for citizens.

Saudi-Chinese Talks to Discuss Linking Arabian Gulf with Red Sea

(THIS ARTICLE IS COURTESY OF THE SAUDI NEWS AGENCY ASHARQ AL-AWSAT)

 

Saudi-Chinese Talks to Discuss Linking Arabian Gulf with Red Sea

Friday, 13 December, 2019 – 11:15
Riyadh – Asharq Al-Awsat
The Saudi Ministry of Transport has revealed that talks are underway with a company owned by the Chinese government to discuss linking the Arabian Gulf and the Red Sea through Saudi lands.

It is part of a giant project the Kingdom seeks implementing as part of its strategic plans in transport and logistics.

Saudi Arabia plans to launch public-private partnership (PPP) transport projects worth tens of billions of dollars in 2020, under an ambitious strategy to diversify the economy and create jobs, the newly appointed transport minister told Reuters.

To reduce dependence on oil revenues, Riyadh aims to have the private sector operate much of its transport infrastructure, including airports and sea ports, with the government keeping a role as regulator.

The government expects real economic growth of 2.3 percent next year, supported by non-oil sectors.

“Saudi Arabia has an impressive transportation and logistics infrastructure, where about SAR400 billion ($106.7 billion) have been invested in the last 10 years only,” Minister Saleh bin Nasser al-Jasser noted.

He explained that the plan is to continue investing while increasing private sector participation.

The ministry is also planning a railway project linking Dammam in the Eastern Province to the Red Sea city of Jeddah through the capital, he was quoted as saying.

“The funding will come through the private sector, either through PPP or government-to-government…these are big projects worth tens of billions of riyals.”

Riyadh has set a goal of generating SAR35 billion to 40 billion ($9.3 billion to $10.0 billion) of non-oil state revenues from its privatization program by 2020.

Some of that money would come from asset sales, while the rest would come from public-private partnerships.

The transportation sector is one of the National Industrial Development and Logistics Vision Realization Program’s (NIDLP) pillars.

This program aims to transform the Kingdom into a leading industrial hub and an international logistic platform in a number of promising areas.

This would contribute to generating ample job opportunities for Saudi cadres, enhancing the trade balance and maximizing local content.

It focuses on four main sectors, namely industry, mining, energy and logistics.

In March, a Saudi official told Reuters that six public-private partnership deals worth around $3.5 billion were sealed in Q1 2019 and at least 23 more are expected by 2022.

Saudi Aramco Tops $2 Trillion Value in Day 2 of Trading

(THIS ARTICLE IS COURTESY OF THE SAUDI NEWS AGENCY ASHARQ AL-AWSAT)

 

Saudi Aramco Tops $2 Trillion Value in Day 2 of Trading

Thursday, 12 December, 2019 – 11:30
Saudi Arabia’s state-owned oil company Saudi Armco and stock market officials celebrate during the official ceremony marking the debut of Aramco’s initial public offering (IPO) on the Riyadh’s stock market in Riyadh, Saudi Arabia, Wednesday, Dec. 11, 2019. (AP Photo/Amr Nabil)
Riyadh- Asharq Al-Awsat
Saudi Aramco achieved the $2 trillion valuation sought by Saudi leader Crown Prince Mohammed bin Salman on Thursday as the newly-listed state-owned oil company’s shares rose sharply on their second day of trading.

Shares jumped in trading to reach up to 38.60 Saudi riyals, or $10.29 before noon, three hours before trading closes.

Aramco has sold a 1.5% share to mostly Saudi investors and local Saudi and Gulf-based funds.

With gains made from just two days of trading, Aramco sits comfortably ahead of the world’s largest companies, including Apple, the second-largest company in the world valued at $1.19 trillion.

MbS is the architect of the effort to list Aramco, touting it as a way to raise capital for the kingdom´s sovereign wealth fund, which would then develop new cities and lucrative projects across the country that create jobs for young Saudis.

He had sought a $2 trillion valuation for Aramco when he first announced in 2015 plans to sell a sliver of the state-owned company.

International investors, however, thought the price was too high, given the relatively lower price of oil, climate change concerns and geopolitical risks associated with Aramco. The company’s main crude oil processing facility and another site were targeted by missiles and drones in September, knocking out more than half of Saudi production for some time. The kingdom and the US have blamed the attack on rival Iran, which denies involvement.

In the lead-up to the flotation, there had been a strong push for Saudis, including princes and businessmen, to contribute to what´s seen locally as a moment of national pride, and even duty. Gulf-based funds from allied countries also contributed to the IPO, though it has largely been propelled by Saudi capital.

At a ceremony Wednesday for the start of trading, Aramco Chairman Yasir Al-Rumayyan, described the sale as “a proud and historic moment for Saudi Aramco and our majority shareholder, the kingdom.”

China: World Expo history on show in Shanghai

(THIS ARTICLE IS COURTESY OF SHANGHAI CHINA’S ‘SHINE’ NEWS NETWORK)

 

World Expo history on show in Shanghai

Hu Min
World Expo history on show in Shanghai

Jiang Xiaowei / SHINE

A visitor examines documents related to the history of the World Expo.

World Expo history on show in Shanghai

Jiang Xiaowei / SHINE

Documents related to the World Expo are on display at the World Expo Museum in Huangpu District.

An exhibition that opened at the World Expo Museum in Huangpu District on Wednesday features around 300 exhibits recording the 168-year history of the event.

“Read the World — Exhibition of Expo Historical Documentations” has four sections — Expos Described by Pens, Expos in Painting and Crafts, Art Across the Globe, and Composing the Future.

It includes reports, awards, certificates, newspapers, journals, design sketches and novels related to the event in many languages.

“The display traces the history of the World Expo and provides a wide range and different aspects of the expo,” said Vicente Gonzalez Loscertales, secretary general of the Bureau of International Expositions.

The exhibits include 3D Expo 1862, a book with 3D Expo images, a perfecscope for viewing stereographs in the 19th century, a paper peepshow dating back to the 19th century, a series of prints of Crystal Palace (the building that housed the 1851 Great Exhibition), Crystal Palace cigarette cards issued by a British cigarette maker in 1937, the certificate of appointment of the advisory committee of the Louisiana Purchase Exposition in 1904, a Crystal Palace Theater advertising leaflet, books with design sketches of Expo pavilions, designers’ notes and Le Petit Journal, a popular newspaper which presented colorful engravings of pavilions at the 1900 Expo in Paris, as well as tickets, passports and invitation letters from previous expos.

A wooden fruit platter from the Guinea Pavilion at the 2015 event in Milan, commemorative medals of the 1970 Expo in Osaka, postcards of different expos, an Underwood typewriter, the phototype of the giant typewriter exhibited at the 1915 Expo, and award winning phonographs exhibited in Paris in 1900 and St Louis in 1904, and Tagine, a type of North African cookware from the Morocco Pavilion of the 2015 Milan Expo are also featured.

The New Record of Traveling around the World by Li Gui (1842-1903) in 1878 is also on display.

The Qing Dynasty (1644-1911) government was invited to form a delegation to the 1876 Expo in Philadelphia and customs officials at that time were mostly foreigners. Li, secretary of the deputy commissioner of Ningbo Customs, was the only Chinese person in the delegation. In 1878, Li published the book which was the first detailed Chinese monograph recording the World Expo.

The exhibition will run through February 9. Lectures and concerts will be hosted during the exhibition.

Meanwhile, a library with 100,000 collections will open next year inside the museum.

The museum has valuable collections in 14 languages related to the World Expo dating back to 1831.

World Expo history on show in Shanghai

Jiang Xiaowei / SHINE

A visitor takes pictures during her visit to the World Expo exhibition.

Brazil: Merchant charges corporate backlash against Bolsonaro’s assault on Argentina

(THIS ARTICLE IS COURTESY OF BRAZIL’S 247 NEWS)

 

Merchant charges corporate backlash against Bolsonaro’s assault on Argentina

“The silence of Brazilian businessmen and entities representing a childish, disqualified and disastrous attitude like this is unacceptable,” says former Minister Aloizio Mercadante, commenting on Jair Bolsonaro’s decision not to send anyone into Alberto’s possession. Fernandéz, who takes over the presidency of Argentina tomorrow, Brazil’s largest importer of industrial products

(Photo: Marcos Oliveira)
 

247 – Former Minister Aloizio Mercadante reacted with indignation at Jair Bolsonaro’s aggression against Argentina and perplexed at the silence of business entities such as the National Confederation of Industry and the Sao Paulo Federation of Industries regarding the presidential attitude towards largest neighbor and one of Brazil’s largest trading partners.

“Argentina is a neighboring country, friend, partner and that comes from a long process of approximation and economic, commercial and scientific, technological and cultural partnerships. This disqualified behavior of Bolsonaro is incompatible with the diplomatic and strategic demands of a country. the size and importance of Brazil, “says Mercadante, commenting on the Brazilian government’s decision to ignore Alberto Fernández’s inauguration.

“We are more than half of South America’s territory, population and economy. And Argentina is the second country, one of Brazil’s main trading partners and the largest importer of industrial products. Brazilian industry facing a childish, disqualified and disastrous attitude such as this is unacceptable “, further points Mercadante, criticizing the position of CNI and Fiesp.

“The entities representing the Brazilian industry have an obligation to speak out and protest against this unreasonable aggression. I congratulate the Mayor and the deputies who were with the president-elect and are committed to maintaining a strategic bridge with the new government of President Alberto Fernandes, democratically elected by the Argentine people, “he says.