The Economics of Geography

06/07/2025 05:41

From prestige to power: How luxury spending reflects the UAE’s economic strategy

In the shadow of Burj Khalifa, a Bentley parks with a 2-digit license plate. Its driver sips into a gold-dusted cappuccino while staying in 7-star hotels, dining at Michelin star restaurants and shops at the most iconic designer brands’ stores. This isn’t an unusual overlook of Dubai. But while this obsession with luxury may seem like extravagance for its own sake, is there something deeper at play?

04/07/2025 17:54

China addresses trade restrictions

China's Ministry of Commerce said Friday that dialogue and cooperation are the right path forward, in response to the U.S. lifting of a series of economic and trade restrictions on China, according to Xinhua.

02/07/2025 11:43

Mongolia Pivot to Central Asia?

Mongolia has reached a critical juncture and is undergoing a process of foreign policy modernization. The burgeoning relations between Ulaanbaatar and Central Asian states signifies a strategic initiative aimed at balancing its partnerships with Russia and China. Since 2020, Mongolia has augmented its diplomatic activities with Central Asian countries, as evidenced by the Mongolian President's visit to Uzbekistan and Kazakhstan in 2024. Notwithstanding the prevailing positive development dynamics, economic relations between Mongolia and Central Asia remain modest but growing, particularly in trade with Kazakhstan, Kyrgyzstan, and Uzbekistan, where exports have increased significantly.

30/06/2025 18:13

Sri Lanka the only Asian nation in talks with US on tariffs

Sri Lanka is the only country in the Asia region currently engaged in discussions with US officials to renegotiate tariffs imposed under US President Donald Trump’s administration, according to deputy economic minister.

27/06/2025 15:05

China, US reach agreement on trade deal framework

China confirmed on Friday details on the framework of a trade deal with the United States, saying Washington would lift "restrictive measures" while Beijing would review and approve items under export controls.

27/06/2025 12:27

China willing to maintain economic, trade exchanges with US

China is willing to maintain economic and trade exchanges with the United States based on equality, mutual respect and mutual benefit to deliver benefits to both countries and the world, Vice Minister of Finance Liao Min said, according to a statement released by the ministry on Friday.

27/06/2025 06:00

Promoting high-quality Belt and Road cooperation to a new height

Openness is a distinctive feature of Chinese modernization, and adhering to opening up to the outside world is a fundamental national policy of China. The Belt and Road Initiative (BRI) is not only a major measure for China to expand opening-up but also China’s solution to address global development challenges.

26/06/2025 22:15

China-EU relations: A strategic partnership of global significance

On Tuesday, 6 May 2025, to commemorate the 50th anniversary of the establishment of diplomatic relations between China and Europe, Chinese President Xi Jinping exchanged congratulatory messages with European Council President Antonio Costa and European Commission President Ursula von der Leyen.

25/06/2025 23:02

Global Civilization Initiative injecting spiritual strength into human development and progress

Diversity spurs interaction among civilizations, which in turn promotes mutual learning and their further development. On March 15, 2023, during the CPC in Dialogue with World Political Parties High-Level Meeting, General Secretary Xi Jinping solemnly proposed the Global Civilization Initiative (GCI).

16/06/2025 19:21

Xi Jinping arrives at the Central Asian summit

The Chinese president is meeting with the leaders of five Central Asian states. The region's role is becoming increasingly important, so it is no surprise that a geopolitical race has begun.

11/06/2025 23:45

The US moves to restructure global trade: could EU-China trade relations benefit?

As Washington aims to decrease its trade deficit and strengthen domestic production, global value chains are facing new pressures to restructure. This change poses significant challenges for both European and Chinese producers as the flow of decade-long input and final good channels is disrupted. Is this a new opportunity for the two economic zones to further strengthen their relationship thereby mitigating some of the negative effects of US trade policy?

06/06/2025 20:50

Great opportunities with New Zealand

For the first time, a Hungary–New Zealand Business Forum was held in Budapest in late May, organised by the Hungarian Export Promotion Agency (HEPA). On the margins of the event, Eurasia spoke with Simon Bridges, CEO of the Auckland Business Chamber.

30/05/2025 15:44

Hainan welcomes Hungarians with open arms

The symposium promoting the Hainan Free Trade Port was successfully held on May 29 in Budapest, organized by China’s Hainan Province, with the contribution of the Hungarian-Chinese Youth Friendship Association (MKFB).

22/05/2025 23:07

How do direct flights power China-Hungary's shared prosperity?

A regular direct flight shuttles between Budapest, Hungary's vibrant capital, and Ningbo, China's eastern maritime hub, spanning 5,000 kilometers of geography but bridging continents in trade and investment.

20/05/2025 23:01

How to be successful in Hong Kong?

"Hungary is a gateway to Europe for Asian companies, while Hong Kong serves as a gateway to Asia for European companies," Alpha Lau, Director-General of Investment Promotion at InvestHK – a Hong Kong government agency – told our paper at the Guangdong-Hong Kong-Macao Greater Bay Area and Hungary (Europe) Economic and Trade Cooperation Conference in Budapest.

15/05/2025 19:08

BYD to locate its European headquarters in Hungary

The Hungarian government has signed a strategic cooperation agreement with one of the largest car manufacturers. The agreement with BYD means that future cars will also be manufactured in Hungary, Viktor Orbán emphasised in his speech.