Partnership for Quality Infrastructure

At the recent Group of Seven (G-7) meeting in Germany, the attending countries put forth the “Partnership for Global Infrastructure and Investment” (PGII), which is a revised version of the Build Better Back World (B3W) scheme that was launched at last year’s G-7 meeting. While there was never any concrete figure attributed to B3W, the United States (US) touted B3W would catalyze “hundreds of billions of dollars of infrastructure investment” for developing countries.

Almost five dozen global business groups send letter to top Chinese officials asking China to postpone the implementation of its cybersecurity law. Foreign pharmaceutical companies seek new ways to get high off China’s pharmaceutical policy reforms. Several American senators scream that Ant Financial’s takeover of MoneyGram is a national security threat. Joint strategic and security concerns over China’s Belt and Road initiative drive Japan and India to engage in new economic partnership. China’s economic retaliation against South Korea following South Korea’s adoption of THAAD missile system decreases after the installation of a new Korean government. Daewoo E&C and Hanwha E&C partner with Saudi Arabian government to develop new Saudi Arabian city. Wanda Group Chairman meets with Malaysia’s Prime Minister and considers investment exceeding USD $10 billion in Bandar Malaysia development. Malaysia’s troubled carmaker Proton seeks to sell up to 51 percent stake to foreign investor. Survey shows that despite government encouragement to go overseas smaller Singapore businesses emphasize local investments. Vietnam’s President welcomes Chinese hi-tech investment as Hanoi pursues a green economy and economic growth. Transfer pricing continues to be a serious problem with foreign investment in Vietnam.