The Economics of Geography

20/09/2024 06:00

An alternative to the Western world order

In the current turbulent geopolitical environment, regional initiatives that seek to provide an alternative to the Western world order and to increase the role of the Global South in world politics are becoming increasingly important. The Shanghai Cooperation Organisation (SCO) is one of the most striking examples of the strengthening of regional defence, economic and political ties, and its growing membership reflects its importance and geopolitical role.

05/09/2024 21:06

Xi Jinping boosts Africa financing by US$51 billion, promises a million jobs at FOCAC Summit

Chinese President Xi Jinping pledged on Thursday to step up China's support across Africa with funding of nearly US$51 billion over three years, backing for more infrastructure projects, and the creation of at least 1 million jobs.

30/08/2024 06:00

Lifebelt from the Middle East

The number of M&A (Mergers és Acquisitions) deals in Europe fell by almost half in 2023, but transactions involving Central and Eastern Europe fell only marginally. What is the reason for our region's success? According to an expert, the Middle East's increasingly active investor presence, with oil and gas revenues increasingly finding their way to our region.

30/08/2024 06:00

Hard to win, but easy to lose

The global flows of goods, services and capital have slowed significantly since the global financial crisis of 2008, breaking the globalisation process that had become common after the Second World War. Today, geo-economic fragmentation, or bloc-formation, has allowed economic considerations to be superseded by political factors such as national security and sovereignty.

23/08/2024 13:58

Chinese EV maker Zeekr posts record revenue

Zeekr Intelligent Technology, the premium electric vehicle (EV) maker controlled by Geely Auto, reported record revenue in the second quarter as its refreshed models lured more Chinese customers away from rivals.

15/08/2024 07:00

The secret to the success of Singapore's national brand

The economic, political and socio-economic reforms undertaken by Singapore's leadership over the past decades have transformed the city-state from a small fishing village into a global financial, business, logistics and innovation hub.

08/08/2024 18:24

BYD tops Hungarian BEV market

China's BYD, the world's leading manufacturer of plug-in electric and plug-in hybrid (NEV) cars, is rapidly increasing its presence in the Hungarian new car market. After launching in Hungary in October last year, BYD reported the highest number of sales in the BEV segment in July this year.

31/07/2024 15:30

Apple is no longer among top 5 smartphone vendors in China

Apple was edged out of the top five smartphone vendors’ list in China in the second quarter, as competition from domestic brands such as Huawei intensifies.

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.