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The EU's Global Gateway - A Belt & Road Competing Initiative?

2021-09-22
The EU has launched its ‘alternative’ to China’s Belt and Road, with EU Commision President Ursula von der Leyen stating, “We want to create links and not dependencies” while clarifying this by stating “It does not make sense for Europe to build roads between a Chinese owned copper mine and a Chinese owned harbour”. We look at the reality.

Featured Business News

India Briefing

Withholding Taxes In India

09/22/2021

Withholding tax (WHT), also called retention tax, is an obligation on the individual (either resident or non-resident) to withhold tax when making payments of a specified nature, such as rent, commission, salary, for professional services, to satisfy contract provisions, and so on - at rates specified in India’s tax regime.

Vietnam Briefing

Vietnams Business Support Measures In Covid Resolution 105

09/21/2021

The Vietnamese government has issued another law supporting businesses to overcome the effects of the pandemic. Resolution 105/NQ-CP was issued on September 9 and goes in effect on the date to support businesses, cooperatives, and household businesses affected by the pandemic.

China Briefing

China-Uzbekistan Bilateral Trade And Outlook

09/22/2021

As an important country along the ancient Silk Road and the new Silk Road Economic Belt, Uzbekistan was the first among the five Central Asian countries to establish formal diplomatic relations with China. Over the past 20 years since the establishment of diplomatic ties, bilateral cooperation in various fields between Uzbekistan and China has been advancing smoothly. In June 2016, China-Uzbekistan relations were officially upgraded to a comprehensive strategic partnership.

China Briefing

Minimum Wages In China 2021

09/20/2021

Minimum wages in China continue to grow. So far, in 2021, the provinces of Heilongjiang, Hubei, Jiangsu, Jiangxi, Ningxia, Shanxi, Shaanxi, Tibet, Xinjiang, Zhejiang, , as well as the cities of Beijing and Tianjin have raised their minimum wage standards. Meanwhile, the province of Jilin and the city of Chengdu stated they would adjust their minimum wages this year. We provide a national guide to minimum wages and related overheads in China.

India Briefing

Investing in India's Biotechnology & Biopharmaceutical Industries

09/21/2021

India’s biotechnology industry has been steadily expanding in the last five decades with several segments. The COVID-19 pandemic and changes due to R&D investment has allowed the biotech industry to build upon its traditional strengths in vaccine manufacturing, agriculture science, and clinical research as well create urgent capacity for industrial applications and bio-services. The industry is also home to over 4000 start-up enterprises.

ASEAN Briefing

Electronic Signatures In Singapore

09/21/2021

Individuals, companies, and other organizations increasingly use electronic signatures, or e-signatures, to sign contracts and complete other transactions in Singapore. Due to cybersecurity concerns and the potential for forgery, the Singaporean government has specific regulations governing the use of e-signatures. The government has updated its regulations to align with international best practices. In this article, we look at how Singapore regulates e-signatures, and what steps companies should take when using them to complete contracts.

The Bigger Picture

Silk Road Briefing

Biden And Johnson Say The West’s Approach To China & Russia Must Be Based On ‘Common Values’. But What Does This Actually Mean?

09/22/2021

The 'common values' phrase seems set to influence the West’s future policy towards China and Russia, meaning that understanding it becomes important. Neither Biden nor Johnson have spelled out exactly what they mean by this term however, leaving it open to their interpretation. However, a US consultant specializing in values within the business sector has identified seventeen “common values” he says are paramount. They are....

Russia Briefing

Russia To Expand Overseas Trade Development Reach

09/22/2021

Representatives of the Economic Development Ministry will carry out their functions as part of Russian trade missions abroad, without being part of the staff of the missions. An expansion of existing activities in Asia and Africa can be expected to be prominent.

China Briefing

Belt And Road Weekly Investor Intelligence #47

09/21/2021

This past week has been busy in geopolitical trade developments on a global basis. We analyze the export trade dynamics between BRI countries and China and examine the potential in China’s trade agreements with the EU and the Asia-Pacific-based CPTPP. We examine ASEAN’s trade partner meetings, with new initiatives developing with the US, EU, Hong Kong, India, and Russia, and summarize the 2021 BRICS summit just held in Delhi.

Silk Road Briefing

BRI Countries Exports To China Surge As Global Producer Prices Boom

09/16/2021

The blow out in global commodity and intermediate goods prices has seen producer price inflation (PPI) approach crisis levels across the world’s economies. In response, China’s government has taken prudent measures to dampen excessive commodity price increases, while retaining strong demand for imported raw materials and capital goods in powering the economy forward; an outcome benefiting many countries which have signed up to its Belt and Road Initiative (BRI) in recent years.

Our firm Dezan Shira & Associates provides legal, tax and operational advisory across Asia.
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It has been produced by Dezan Shira and Associates since 1999.

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