It is time for Egypt to put a price on carbon. While Cairo has taken small steps toward developing a sustainability plan, it needs a bold idea to stop rising carbon emissions. Establishing a carbon exchange — or putting a price on carbon — would be good for the country and help make Egypt an environmental leader in the region.
Read MoreThe United States and China have a mutual interest in fighting climate change. There are no boundaries: Emissions in Tianjin affect temperatures in Texas, and vice versa. For this reason, many view climate change as a potential bright spot in the U.S.-China relationship – where the shared goal of reducing carbon emissions could lead to cooperative action or complementary policies.
Read MoreChina’s post Covid-19 economic relief programme understandably makes job creation and technological development the top priorities. The centrepiece of the effort is the “2 New + 1 Key” initiative, which promotes investment in digital and urban infrastructure as well as the implementation of 165 national-level major projects.However, unlike last year when environmental protection was deemed a top priority, this year, it has taken a back seat. Instead, a more traditional stimulus programme involving at least US$2 trillion of mass construction will lead the recovery.
Read MoreIt’s been a slow road for China’s long-awaited national carbon market. Announced by Chinese president Xi Jinping in 2015 and launched in 2017, the market promises to be the world’s largest – and the developing world’s first – national emissions trading scheme.Hailed as a potential game-changer in the fight against climate change, it represents a core element of Mr Xi’s “war on pollution”. But after years of delays, the market has yet to trade a single yuan. The Covid-19 crisis could be the impetus that gets the national carbon market back on track.
Read MoreThe green movement has been slow to catch on in Egypt, but the January announcement by the Egyptian government that it is finalizing plans to launch the country’s first green bonds could provide the financial incentives to further promote sustainable development.
Read MoreThe Paulson Institute’s Deborah Lehr joins the latest episode of our “All About the Green” podcast. Speaking with the IIF’s Managing Director and Head of Sustainable Finance, Sonja Gibbs, the conversation focuses on China and Deborah’s work at the Paulson Institute. Sonja and Deborah also focus on China – specifically the efforts to green the Belt and Road Initiative, but also what China is doing beyond the BRI.
Read MoreInvesting in green turns out to be a good deal as well as a good deed. China, which has now become one of the world’s largest markets for green finance, is showing how investing in sustainability is not only important for saving the earth but can bring about excellent returns for the investor. As Egypt seeks to “clean and green” the country while promoting economic growth, China’s example offers some insight into a path forward for Egypt.
Read MoreOn his recent visit to Egypt, Chinese Vice President Wang Qishan noted that "both [of these] ancient civilizations share extensive interests and great cooperation potential." Egypt and China have much in common – a long and storied history, being a dominant power in their regions and strong potential for being partners in future growth. As China seeks to expand and diversify, there is much to attract a Chinese company to the land of the Great Pyramids.
Read MoreIf an “economic iron curtain” falls, it will be in areas like the Middle East and Africa.
Read More政府有必要打好“组合拳”,包括制定实施有效的政策、采取奖惩结合的措施以及建立有利于拉动投资和绿色发展的监管架构,从而吸引和撬动更多的社会资本。
Read MoreWith the world’s largest carbon trading exchange, huge green bond market and plethora of green private equity funds, China has shown that well-crafted regulatory, policy and financial frameworks can spur private interest in green finance.
Read MoreAt China’s annual economic work conference last month, President Xi reiterated China’s commitment to being a world leader in green finance. Finding ways to use market mechanisms to help pay for the country’s ambitious program on environmental protection is essential to its success. To this end, nine Chinese ministries issued The Action Plan on Building A Market-oriented and Diversified Ecological Protection Compensation Mechanism (the Plan), as a road map for its intentions at the end of December.
Read MoreChinese tourists are on the move, and they have a new passion – cruising. The number of Chinese taking to the high seas has grown 10 fold every year since 2011, and is expected to top 4.5 million cruisers by 2020. North American’s still dominate cruise holidays today with almost 14 million setting sail each year. Europeans follow with just over 6 million travelers, and the rest of the world accounts for 4 million. But these dynamics are changing as the Chinese explore new waters.
Read MoreSustainability has taken another step forward in Egypt this month. On July 18, the Egyptian government announced a regulatory framework for the issuance of green bonds to promote sustainable development. The challenge, however, will be finding projects qualified for the “green” designation, especially since the definition of what constitutes a sustainable project is yet to be standardized in Egypt – or in most markets for that matter. And implementation and enforcement mechanisms for these standards are even less defined.
Read MoreAs President Xi Jinping impels China to take a more active role internationally, the Middle East is becoming one of its key staging grounds. At a gathering of 21 Arab nations in Beijing this month, Xi pledged billions pledged billions in loans and financial aid to support economic development in these countries. At this Arab Summit, well attended by foreign ministers from across the Arab speaking world, the Chinese government successfully elevated their relationship with the region to a “strategic partnership.” Read more about this growing relationship.
Read MoreIn China, a person can go a whole day without touching cash. One can grab breakfast from a food cart, jump on the subway, buy lunch at a restaurant and a drink from a vending machine, head back home again, stopping off at the grocery store to pick up food for dinner – just using one’s phone. More than 527 million Chinese citizens are doing this every day.
Read MoreChina has rapidly emerged at the forefront of the new energy vehicles (NEV) market — not by choice, but by necessity. As the largest carbon emitter in the world, lowering energy emissions from transportation is a core part of its war against pollution.
Read MoreChina has been sending strong signals that they intend to announce greater market opening for foreign firms as well as a crackdown on intellectual property rights violations to celebrate the 40th anniversary of the launch of China’s “reform and opening up” initiative.
Read MoreMinister Liu He, the trusted economic adviser to President Xi Jinping, gave a much-anticipated speech to the Davos attendees. In keeping with the new normal in China post 19th Party Congress, Liu quoted President Xi: “As long as we keep to the goal of building a community with a shared future for mankind and work hand in hand to fulfill our responsibilities and overcome difficulties, we will be able to create a better world and deliver better lives for our people."
Read MoreMuch has been made of China’s grand building plan for the Belt and Road Initiative, but little attention is focused on the “green” standards that China is proposing to receive this investment. Launched in 2013 by China’s President Xi Jinping, the B&R is a one-trillion-dollar plan to finance infrastructure investments spanning over 60 countries and covering three quarters of the world’s population.
Read MorePresident Trump's trip to China exemplifies what I call his "head of state" diplomacy: prioritizing personal relationships with his foreign counterparts. Trump's style has been criticized, but it is starting to yield real results for U.S. business interests.
Read MorePresident Trump’s trip to China exemplifies what his doctrine should be called – Head of State Diplomacy. Establishing a personal relationship with his counterpart appears to be a top priority, and the Trump-Xi relationship is a definite bromance.
Read MoreAt last month's party congress, President Xi Jinping announced his new Politburo standing committee — China's seven most powerful men. Now attention has turned to the government appointments coming at the National People's Congress in March.
Read MorePresident Xi Jinping, center, presides over the opening ceremony of the 19th Party Congress held at the Great Hall of the People in Beijing. President Xi Jinping used the Communist Party's 19th Congress in Beijing to call for an invigorated economy at home and a stronger role for the party — of which he will now be "chairman," a title last held by Mao Zedong, the founder of the People's Republic of China.
Read MoreChina’s “Belt and Road Initiative” is likely to transform trading routes from Asia to Africa, the Middle East to Russia. With the world’s largest foreign reserves and a determination to build political and economic ties with strategically important governments, China is helping finance much-needed major infrastructure projects along the modern Silk Road.
Read MoreChina’s ambitious plan to develop a nationwide carbon market is moving forward – but with a whimper, not a bang. The launch, now expected in late November, will cover just a small fraction of the existing carbon market, and for all intents and purposes, will be an exchange in name only.
Read MoreChina embarked upon a massive sustainable urbanization drive in 2013. It was announced that more than 100 million people would be moved from the countryside into cities by 2020 to alleviate poverty and grow the economy.
Read MoreIn another clear sign that President Xi is entering the 19th Plenum in a strong position, China has announced plans to open a number of previously restricted sectors to foreign firms. Important policy decisions continue to be made and announced.
Read MoreIn early September, the Chinese government released a new guideline that further tightened the grip on outbound direct investment (ODI) in key sectors. This move to mitigate the financial stability risks posed by a frenzy of what the government calls "irrational overseas investment" followed on the heels of several strict controls on capital outflows.
Read MoreWhile China has announced it will restrict investments overseas to control capital outflows, it is encouraging investment projects that are linked to President Xi Jinping's One Belt One Road (OBOR) initiative. Chinese investments in the OBOR countries totaled $33 billion in the first seven months of 2017, already $2 billion higher than all of 2016.
Read MorePresident Trump did not announce the launch of a 301 investigation today; rather, he signed an Executive Order directing the U.S. Trade Representative to examine China’s intellectual property rights (IPR) protection practices to determine if a Special 301 trade investigation should be launched. T
Read MoreFor nearly 600 years, under the imperial tributary system of the Ming and Qing dynasties, foreign “barbarians” travelled to Beijing to kowtow to the emperor in order to trade with China.
Read MoreIn his detailed and well-researched book, Arab Fall: How the Muslim Brotherhood Won and Lost Egypt in 891 Days, Eric Trager tells the engaging true story of the Muslim Brotherhood’s rise and fall in the aftermath of the Egyptian January 2011 Revolution.
Read MoreThe Chinese government has announced that the Financial Work Conference (FWC) will take place on July 14-15. Originally planned to convene last summer, it was postponed due to divisions over some of the key issues, including the creation of a super–regulator to help ensure consistent oversight between the three main financial regulators (the China Banking Regulation Commission (CBRC), the China Securities Regulatory Commission (CSRC), and the China Insurance Regulatory Commission (CIRC)).
Read MoreYesterday at the Council on Foreign Relations, I had the honor of interviewing Senator John Cornyn (R-TX) on his plans to “modernize” the Committee on Foreign Investment in the United States (CFIUS). In his opening remarks, Mr. Cornyn admitted CFIUS is working reasonably well, but that there are many gaps being exploited by countries, such as China, in order to leapfrog technology.
Read MoreThis latest reshuffle was meant to demonstrate action and shore up investor confidence as the economy continues to sputter along. Devaluation of the currency has helped make exports cheaper, but rising inflation is a potential challenge.
Read MoreIn late 2010, an anonymous Chinese buyer snapped up a plundered 18th century Chinese imperial porcelain vase valued at $1.3 million for a stunning $86 million. A year later, a Chinese bidder purchased another vase from the Middle Kingdom for $18 million – more than 20,000 times the suggested price of $800.
Read MoreMeeting of the Ministers On the margins of the G20 Foreign Ministers meeting hosted under the German Presidency, Tillerson and Wang Yi were able to hold their first face-to-face meeting.
Read MoreSecretary John Kerry and Egyptian Foreign Minister Sameh Shoukry signed the first bilateral agreement between the U.S. and an Arab country to protect cultural heritage at a ceremony in the historic Treaty Room of the U.S. State Department this week.
Read MoreThe internationally popular Chinese finance minister, Lou Jiwei, was removed from his post unexpectedly this past week. Minister Lou, 65, was part of the brain trust of economists brought in by then Premier Zhu Rongji to support his efforts to reform China’s economy in the 1990s.
Read MoreThe Communist Party of China, at its recent annual gathering in October, conferred on President Xi Jinping the status of the “core” of the Party. The position of “President” is largely titular, and the real power stems from the person holding the position of the General Secretary of the Party.
Read MoreAs leaders in the global financial community gathered in Washington for the annual IMF/World Bank meetings, the hottest ticket in town was for a technical discussion on green finance.
Read MoreBrussels has long been a destination of choice for those illegally trafficking antiquities—a category that potentially includes the funders of terrorism that has taken lives throughout the West in recent months.
Read MoreFor Chen, the visionary CEO of Taikang and founder of China’s second largest auction house, culture is a highly profitable business. As other Chinese companies follow his lead, China will become the primary destination for the world’s culture.
Read MoreWith last month’s high-profile signing ceremony of the Paris Agreement by 174 countries at the United Nations, the complicated process to turn these historic commitments on climate change into reality has begun. Yet away from the cameras, the more difficult process of financing implementation of these commitments is getting a boost from what may seem an unlikely source: the Chinese government.
Read MoreWith last month’s high-profile signing ceremony of the Paris Agreement by 174 countries at the United Nations, the complicated process to turn these historic commitments on climate change into reality has begun. Yet away from the cameras, the more difficult process of financing implementation of these commitments is getting a boost from what may seem an unlikely source: the Chinese government.
Read MoreThe armed police division of China’s army tests a new style of shoe Sinking into the plush chairs in the cavernous Fujian Room of China’s Great Hall of the People, I soak in my surroundings as President Xi Jinping’s interpreter artfully translates Xi’s Chinese aphorisms into poetic English.
Read MoreIn Seattle last week, the Paulson Institute, with its partner, the China Council for the Promotion of International Trade (CCPIT), brought together heads of leading U.S. and Chinese companies for a roundtable discussion with President Xi Jinping about economic and business relations between the two countries.
Read MoreAs China’s President Xi Jinping prepares for his visit to the United States, pressure is mounting on both sides to identify potential areas of cooperation amid ongoing contention. Yet, intractable issues dominate the agenda for the two Presidents - accusations of cybertheft, military aggressiveness in the South China Seas and currency manipulation are among the hot topics.
Read MoreChina's 13th five-year plan, due for release in 2016, will reportedly include the most ambitious environmental reform agenda attempted in history. A study by Goldman Sachs predicts that, as a result, the Chinese environmental market could be a multibillion-dollar opportunity.
Read MoreChina is embarking on the most ambitious environmental reform program in history — by necessity. China’s environmental woes are nothing new, but they have hit an inflection point
Read MoreChina's trade negotiators were recently in Washington to continue negotiations towards a bilateral investment treaty (BIT) between their country and the United States. Much still remains to be hammered out: China plans to submit its "negative list" – sectors that will not be opened to foreign competition – after Spring Festival, and then tough negotiations will ensue.
Read MoreFinally, there is good news from Egypt. During a visit to Washington, D.C. last week, Egyptian Tourism Minister Hisham Zaazou announced that travel to Egypt is up 70 percent this year. Tourists are venturing back to the country despite political turmoil — casting a vote of confidence in President el-Sisi’s efforts to restore economic and political stability since taking office last June.
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