The Economics of Geography

29/07/2024 16:16

Italian PM Meloni calls for balanced EU-China trade after meeting Xi Jinping

Italian Prime Minister Giorgia Meloni told Chinese President Xi Jinping on Monday that the euro zone's third-biggest economy plays an important role in China's relations with the EU, as she sought to relaunch her country's economic ties with Beijing.

23/07/2024 19:55

Souht Korean Bumchun to invest billions in Hungary

The South Korean-owned automotive supplier, BC GEN Hungary Kft., has announced a new investment of HUF 21 billion, which will create 400 new jobs in Salgótarján. The announcement was made by Minister of Foreign Affairs and Trade Péter Szijjártó in Budapest on Tuesday.

22/07/2024 15:36

China's renewable energy projects bring 4 billion USD direct investment to Uzbekistan

In recent years, China has pivoted its investment strategy in Central Asia, particularly in Kazakhstan and Uzbekistan, towards renewable energy projects. Notably, agreements were signed in 2023 for Chinese companies to build substantial solar photovoltaic plants in multiple Uzbek regions, representing a total of $4 bn in investment.

21/07/2024 15:18

Japan sees record 17.78 million visitors in first half of 2024

Japan welcomed a record 17.78 million foreign visitors in the first half of 2024, the country’s tourism agency has said, as the weak yen helped drive tourist numbers above pre-pandemic levels.

20/07/2024 10:33

Trump invites China to build EVs in the US

Former US President Donald Trump has reiterated an openness for Chinese automakers to build cars in the US as a way to boost the economy, signalling a potentially different approach from a Biden administration that has sought to keep out vehicles with links to the country.

18/07/2024 23:14

China's economy maintains stable expansion

China's economy maintained stable expansion in the first half of 2024 despite rising challenges from home and abroad, official data showed, Xinhua reported.

17/07/2024 17:50

Another Chinese car giant eyes Hungary after BYD

According to press reports, the Chinese automaker SAIC, manufacturer of the MG brand, is in discussions with the Spanish Ministry of Industry about establishing a European production plant. Hungary and the Czech Republic are also being considered for the project. A final decision will be made by the Chinese company by September 30.

13/07/2024 17:16

China sees surge of foreign travelers

Currently, foreign nationals from 54 countries are eligible for the 72/144-hour transit visa-free policies that are effective at 38 ports in 18 provincial-level regions across China.

10/07/2024 17:10

Istanbul Airport wins "Best in Europe" award

Istanbul Airport, Türkiye's gateway to the world, has won the "Best Airport" award in the category of air hubs, welcoming more than 40 million passengers per year by the Airports Council International (ACI) Europe.

09/07/2024 14:47

China EV maker BYD to build $1 billion plant in Türkiye

Chinese electric vehicle manufacturer BYD Co Ltd agreed with the Turkish government to build a $1 billion production plant in Türkiye with an annual capacity of 150,000 vehicles.

22/06/2024 22:39

Central Asia boosts connectivity with Europe

Uzbekistan and Kazakhstan are both making efforts to improve transport links with Europe.

13/06/2024 13:45

Moscow stock exchange stops trading in dollars and euros

The Moscow stock exchange announced on Wednesday that it will stop trading dollars and euros from Thursday, June 13. The announcement came on the same day the United States introduced a new package of sanctions against Russia.

11/06/2024 20:13

Chinese CNPC considers gas cooperation in Turkmenistan

Turkmenistan is discussing bilateral cooperation in the gas sector with the China National Petroleum Corporation (CNPC). This was a key agenda during a meeting between Ashirgulu Begliyev, Advisor to the President of Turkmenistan on oil and gas matters, and Chen Huailong, General Director of CNPC's local branch, along with Chinese Ambassador to Ashgabat, Qian Naicheng.

09/06/2024 14:38

Putin: Russia’s economy surpasses Japan, Germany

Russia’s economy has already overtaken Japan and Germany, but it needs to sustain this growth going forward, Russian President Vladimir Putin said at the plenary session of the St. Petersburg International Economic Forum (SPIEF).

06/06/2024 18:52

Central Asian GDP climbs 70 percent to $450bn over seven years

Over the past 6-7 years, the GDP of Central Asian countries has surged by 70 percent to exceed $450bn, with intraregional trade more than doubling to $11bn and total foreign trade turnover nearly doubling to $225bn, according to International Institute for Central Asia (IICA).

31/05/2024 10:54

The sanctions policy has failed

It is now clear that the sanctions have not bankrupted Russia, nor have they caused major damage to its economy. In fact, European economies seem to have suffered more from the measures they themselves imposed. If relations between the West and China were to drift further away and the EU were to try to take similar measures against China, the consequences would be disastrous.