Lessons from the ascent of the United Arab Emirates | China's share of the global economy is falling by the most since Mao Zedong, and the historic turn could 'reorder the world' | Ceasefire takes hold in Gaza ahead of hostage release, aid enters enclave | China offers visa-free entry for citizens of France, Germany, Italy

View online | Unsubscribe (one-click).
For inquiries/unsubscribe issues, Contact Us

Lessons from the ascent of the United Arab Emirates - The Economist

Over the next few weeks Dubai will be abuzz. Tens of thousands of diplomats, activists and business folk are due to fly in to join the un’s annual climate pow-wow. The United Arab Emirates’ skill at wrangling countries and industries with vastly disparate interests, in the hope of making further progress on tackling climate change, will be on full display. But that is not the only reason to pay attention to the uae. It also shows how to thrive in the multipolar age.

The country is home to just over 0.1% of the world’s people and produces only 0.5% of its gdp, but it contains nearly 10% of the world’s oil reserves, and this wealth helps it punch above its weight. Like many emerging countries today, it straddles political and economic divisions. It is a closed autocracy, yet one of the world’s most open economies. It is a close ally of America, but its biggest trading partner is China. Although its gdp per person exceeds that of Britain or France, it is often seen as part of the global south and is a hub for Indian and African businesses, making it the Singapore of the Middle East. And in 2020 it was one of the first Gulf countries to normalise relations with Israel.

As a consequence, the uae is prospering even as war rages in the Middle East and superpower rivalry unravels the world . The non-oil economy is growing at nearly 6% a year, a rate that India is enjoying but that the West—and these days even China—can only dream of. Talent and wealth are flocking to the country, as Chinese traders, Indian tycoons, Russian billionaires and Western bankers alike seek stability and success. Last year it attracted more foreign investment for greenfield projects than anywhere except America, Britain and India.

Continued here

Want to accelerate software development at your company? See how we can help.

China's share of the global economy is falling by the most since Mao Zedong, and the historic turn could 'reorder the world' - Business Insider

The Chinese economy's decades-long run of tremendous growth has finally found its end, Ruchir Sharma wrote in the Financial Times.

Now, the world's second-largest economy accounts for a smaller share of global GDP.

"In a historic turn, China's rise as an economic superpower is reversing. The biggest global story of the past half century may be over," the Rockefeller International chairman said.

Continued here

Don't like ads? Go ad-free with TradeBriefs Premium

Ceasefire takes hold in Gaza ahead of hostage release, aid enters enclave - Reuters

GAZA/ISRAEL-GAZA BORDER, Nov 24 (Reuters) - A temporary ceasefire between Israeli and Hamas forces took hold in the Gaza Strip on Friday, the first respite in 48 days of conflict that has devastated the Palestinian enclave, but both sides warned that the war was far from over.

No big bombings, artillery strikes or rocket attacks were reported although Hamas and Israel both accused each other of sporadic violations.

The ceasefire, which began at 7 a.m. (0500 GMT), involves the release later on Friday of 13 Israeli women and children held hostage by Hamas in exchange for Palestinian prisoners held in Israeli jails. Additional aid is to flow into Gaza, which has been gripped by a humanitarian crisis under weeks of Israeli bombardment that has killed thousands of Palestinians.

Continued here

China offers visa-free entry for citizens of France, Germany, Italy - Reuters

Travellers walk with their suitcases at Beijing Daxing International Airport in Beijing, China April 24, 2023. REUTERS/Tingshu Wang/File photo Acquire Licensing Rights

BEIJING, Nov 24 (Reuters) - China will temporarily exempt citizens of France, Germany, Italy, the Netherlands, Spain and Malaysia from needing visas to visit the world's second-largest economy in a bid to give a boost to post-pandemic tourism.

From Dec. 1 to Nov. 30 next year, citizens of those countries entering China for business, tourism, visiting relatives and friends, or transiting for no more than 15 days, will not need a visa, a foreign ministry spokesperson said on Friday.

Continued here

You are receiving this mailer as a TradeBriefs subscriber.
We fight fake/biased news through human curation & independent editorials.
Your support of ads like these makes it possible. Alternatively, get TradeBriefs Premium (ad-free) for only $2/month
If you still wish to unsubscribe, you can unsubscribe from all our emails here
Our address is 309 Town Center 1, Andheri Kurla Road, Andheri East, Mumbai 400059 - 93544947