financializer news A weblog highlighting financial topics making news in the international media.

careers reputations: Technically, men may take their wives' family name, according to The Japan Times. Yet in practice, only about 4 percent do. They're fighting to overturn a law that bars married couples from having different last names, which creates complications for women who have established careers and reputations. ; About 600,000 Japanese couples wed every year and the law says that after marriage a couple must have the same surname. Some women say they feel like they're wiping away their identity after getting married. She legally became Miki Ishizawa two years ago when her husband didn't want to change his name. Being forced to change your name is nothing more than a violation of human rights, said Miki Haga, 29, who is planning to study in the U.K. this year. (news.financializer.com). As reported in the news.

china: Considering that China's bus manufacturing has relatively low costs and that China's new-energy process started quite early compared with many other countries and regions, China has great potential to export new-energy buses to Europe, according to a statement from UBS Securities, according to Global Times China. Shen Wei, a car industry analyst at UBS Securities, told the Global Times that some Chinese companies are already making preliminary plans for such exports to Europe. It's a trend for European passenger vehicle manufacturing to shift to low-cost manufacturing areas. In April 2018, Germany-based bus company Flix Bus opened a long-distance passenger line that used electric buses exported from Chinese bus manufacturing giant Yutong Auto. Statistics provided by UBS Securities showed that electric buses including pure electric and hybrid electric buses account for 51 percent of China's buses, while 29 percent of European buses and 22 percent of US buses are fuelled, entirely or partly, by electricity. Denmark bus operator Umove also purchased 20 electric buses from Yutong this April, according to media reports. (news.financializer.com). As reported in the news.

dana: Andrew Cuomo insisted there was nothing to see here he had come on board to tackle a subway crisis, and departed in due course, according to MSNBC. It turns out that the truth was different, as our Dana Rubinstein reports. Facebook Twitter Email Print The real reason for Lhota's resignation Cuomo signs gun restrictions, child care bill Gillibrand, de Blasio to hit debate stage By ERIN DURKIN and NICK NIEDZWIADEK 07/31/2019 07 23 AM EDTPresented by Campaign for Tobacco Free Kids When Joe Lhota abruptly resigned from his job running the Metropolitan Transportation Authority last fall, he and Gov. Lhota actually quit because a state ethics board found that he had too many potential conflicts of interest to keep the job, his resignation letter reveals. The Joint Commission on Public Ethics determined that my outside activities are legally incompatible with my obligations under the state's Public Officers Law, Lhota wrote. The letter which the governor's office first resisted handing over under public information laws, before relenting when POLITICO appealed spells it out plainly. (news.financializer.com). As reported in the news.

animals: The controversial experiment will be used to try and farm human organs inside living animals for transplant, potentially creating an unlimited supply, according to Asahi Shimbun. But there are concerns scientists won't be able to control how much of the animal becomes human, and fears their brains could develop like people's. Scientists based in Tokyo have been given the Japanese government's approval to grow hybrid embryos to be brought to full term. The team's progress is world-leading in the field, with most other countries either forbidding this kind of work or refusing to give scientists the money to do it. He believes he could grow a human pancreas by putting stem cells inside another mammal, such as a pig, and use it to cure diabetes in a human patient. Researchers in Japan and California say they could one day grow human-sized organs by adding human stem cells to the embryos of mammals which would then use the cells to grow organs made of human tissue in the womb Professor Hiromitsu Nakauchi, who is leading the research, has been testing his theory in labs for years, waiting for the go-ahead to try it in real life. (news.financializer.com). As reported in the news.

crown shares: Crown shares slumped from a closing price of 12.67 on Friday afternoon to a low of 11.69 on Tuesday as Wilkie used parliamentary privilege to detail new allegations of drug use, violence against women, and failure by home affairs officials to check at the border casino high-rollers who fly in by private plane, according to The Independent. Crown casino driver's allegations include freely available drugs and no border checks for gamblers Read more Comm Sec data shows the share price was set to fall again, by 1.9%, according to orders queued before the market opened on Wednesday. On Tuesday the ASX asked Crown to respond to articles in Nine newspapers and on its flagship TV current affairs show 60 Minutes, and to tell the market if its earnings would be affected. In a response sent on Wednesday morning before the market opened, Crown's general counsel, Mary Manos, said the company was not aware of any information concerning it that has not been announced to the ASX which could explain the fall. Manos said it had taken into account the matters raised in media reports over recent days which make various allegations regarding CWN's business dealings and also that the federal government has referred certain aspects of the allegations to the Australian Commission for Law Enforcement Integrity . She said Crown had also taken into its knowledge of its earnings for the financial year ending 30 June but has not yet finalised its full year results . Topics Business Australia Gambling Crime - Australia Share on Facebook Share on Twitter Share via Email Share on Linked InShare on Pinterest Share on Whats AppShare on Messenger Reuse this content (news.financializer.com). As reported in the news.

china: It expects net profit to fall 29.6 percent to 200 billion and operating profit to decrease 27.1 percent to 300 billion on sales of 7.90 trillion, down 1.3 percent, according to The Japan Times. The Osaka-based manufacturer said demand in China for its motors, sensors and condensers fell. Net profit fell 13.2 percent to 49.78 billion in the first quarter of the business year ending March 2020 on sales of 1.89 trillion, down 5.9 percent, as the prolonged trade friction between China and the United States hurt its business in China, the Japanese electronics maker said. ; Panasonic maintained its full-year earnings forecast, which factors in the negative impact of the trade dispute between the world's two biggest economies on its sales in China. Sales of TVs in Europe and Asia were also sluggish, it said. The impact of Japan's imposition in early July of tighter export controls on some South Korea-bound materials used in making chips and displays for security reasons is small, Umeda said. The outlook for our operations in China remains uncertain, Chief Financial Officer Hirokazu Umeda told a news conference in Tokyo, adding the company will be ready to respond quickly to changes in the business climate in the country. (news.financializer.com). As reported in the news.

interest rates: But the market's initial reaction could give way to healthy returns in the coming weeks, as investors focus more on the Fed's confidence in the health of the U.S. economy in the context of historically low interest rates that make equities a relatively attractive bet, analysts and investors tell Market Watch, according to Market Watch. The selloff in the final hours of trade Wednesday was a bit bigger than I anticipated, said Brad McMillan, chief investment officer for Commonwealth Financial Network, in an interview. The Dow Jones Industrial Average DJIA, -1.05% S&P 500 index SPX, -0.90% and the Nasdaq Composite index COMP, -0.79% all closed down more than 1.1%, after trading flat for most of the day. I think this is going to be fairly short term, he added. Yousef Abbasi, director of U.S. institutional equities and global market strategist at INTL FCStone, told Market Watch that the decision could give you more volatility in the coming days, but as we settle into August you'll see equities start to perk again. We're seeing a gut reaction as investors recalibrate their expectations for future rate cuts, but when you get back to the fundamentals, a healthy economy with a bit of stimulus is not the worst thing in the world. (news.financializer.com). As reported in the news.

management: They also allow them to set up and invest in pension management companies, according to Global Times China. Investment restrictions of overseas personal insurance companies will be completely scrapped in 2020. The 11 new measures encourage overseas financial institutions to participate in the establishment of, and invest in, asset management subsidiaries of commercial banks. Those measures serve as a milestone, marking a new stage of China's financial opening-up. One opens financial institutions and the other frees up capital flows in and out. The financial opening-up has two aspects. (news.financializer.com). As reported in the news.

money flows: And the money that has come back in to funds is being allocated very differently, suggesting investors are a bit more risk-averse and yield-hungry, according to Market Watch. Those observations come from Data Trek Research, which tallies up information from the Investment Company Institute, for mutual funds, and www.xtf, for ETFs. In the seven months since the massive Christmas market sell-off, exchange-traded and mutual funds still haven't recovered all the money flows they lost. Data Trek co-founder Nicholas Colas notes that 134 billion rushed out of U.S. listed funds and ETFs in December 2018, and as of about mid-July, only 130 billion has flowed back in. So far this year, bond funds have attracted 241 billion, while stock funds have lost 89 billion. The money that's returned to funds has gone to very different asset classes. (news.financializer.com). As reported in the news.

week: But we learnedlast week that 8 Miles' cash travels considerably further than this on its way from one continent to the other, according to The Guardian. It has established a cluster of companies in Mauritius, in the Indian Ocean, which funds pass through. That's the inspiration for the name of Sir Bob Geldof's private equity firm, 8 Miles, set up to channel investment into successful businesses in Africa. Geldof is an outspoken champion of African countries, and has raised millions of pounds for the continent through Band Aid and other initiatives. Mauritius is the tax haven of choice for companies investing in Africa. That he sees no contradiction in this type of corporate structure shows how depressingly routine the use of jurisdictions like Mauritius has become. (news.financializer.com). As reported in the news.

cleanliness: A review into the cleanliness of the Australian equity market found 0.6 per cent of accounts during the November 2015 to October 2018 period that traded before price-sensitive announcements were deemed suspicious . The Australian Securities and Investments Commission found there was more suspicious trading before merger and acquisition announcements than others, according to Nine News Australia. There was also more suspicious trading and abnormal price movements before unscheduled announcements than scheduled ones. To improve your experience update it a source of dodgy trading By AAP11 57am Jul 31, 2019Facebook Tweet Mail The securities watchdog is concerned about possible insider trading linked to company takeovers, but a new review otherwise gives the Australian share market a high degree of integrity. ASIC commissioner Cathie Armour says markets cannot operate with a high degree of integrity if people trade with inside information. The review also found announcements involving small companies, particularly in the materials sector, were also more likely to be unclean . Related Articles New Labor legislation takes aim at Wicked CampersNAB defends actions since royal commission No evidence citizenship loss stops terror Controls for some small cap companies are clearly lacking and need to be tightened, Ms Armour said. We expect all parties involved in mergers and acquisitions to put in place meaningful confidentiality controls at the start of a transaction and make sure the controls are rigorously followed, Ms Armour said on Wednesday. (news.financializer.com). As reported in the news.

drones: Unmanned drones may soon be dropping food, coffee and even medicine from local shops into your backyard, according to Nine News Australia. Google's parent company Alphabet has chosen Logan in Queensland to launch its latest drone delivery service after conducting thousands of test flights in rural parts of the state and around the world. To improve your experience update it here News National Bread, coffee to be delivered by drone in Logan By 9News Staff8 26pm Jul 31, Uber Eats. The Wing service allows customers to order a range of items weighing up to 1.5 kg on a mobile app and have them air-delivered directly to their homes. Wing Orders are placed via a mobile app. A Wing drone carries a delivery. (news.financializer.com). As reported in the news.

oil companies: The report found that Black Rock's multibillion-dollar investments in the world's largest oil companies including Exxon Mobil, Chevron, Shell and BP were responsible for the bulk of its losses, according to The Guardian. The fund manager was also stung by the collapse of big US fossil fuel companies, including General Electric, and the coal mining company Peabody. A report from the Institute for Energy Economics and Financial Analysis IEEFA has found that Black Rock has eroded the value of its 6.5tn funds by betting on oil companies that were falling in value and by missing out on growth in clean energy investments. Black Rock faces growing pressure to divest from fossil fuels by investors and environmental groups, which have accused the asset manager of dragging its feet on the climate crisis. Its combined funds are larger than the economy of Japan, the third largest economy in the world, making it the single largest investor in the global coal industry and one of the top three investors in most big oil companies. Tim Buckley, a director at IEEFA and co-author of the report, said Black Rock's enormous financial heft meant it should take responsibility for leading on the climate emergency. (news.financializer.com). As reported in the news.

tariff threat: Market Insiderread more Beijing responds to Trump's new 300 billion tariff threat China's foreign ministry reportedly said Friday that while Beijing did not want a trade war with the U.S., it was not afraid to fight one, according to Xinhua China. China Politicsread more Exxon Mobil earnings beat, shares jump 2%Exxon Mobil reported second-quarter results that beat analyst expectations, sending the company's stock up more than 2% in the premarket. Market Insiderread more Jobs report should show solid but slower trend of hiring The economy is expected to have added 165,000 jobs in July, a drop of about 60,000 from June and possibly the start of a more moderate hiring trend. Earningsread more Apple and Microsoft vie for top market spot, but only one will... Apple has pushed past the 1 trillion market cap to nip at Microsoft's heels. Trading Nationread more'It's unclear what the end game is,' ex-US ambassador says of... President Donald Trump has been wildly unpredictable and it's not clear what the end game for the trade war with China is, says David Adelman, former American ambassador to... World Economyread more Goldman Here's China's likely next step to Trump's new trade...U.S. President Donald Trump on Thursday said Washington will apply 10% tariffs on 300 billion of Chinese goods starting Sept. 1. The charts suggest one will keep rolling past that milestone. (news.financializer.com). As reported in the news.

strike deal: It advanced 7.01 points the previous day, according to The Japan Times. The Tokyo market tumbled right after the opening bell, as investors rushed to lock in gains in the previous day's rally in view of overnight drops in European and U.S. shares following U.S. President Donald Trump's Twitter feed blaming China for not having bought American farm products yet. The 225-issue Nikkei average fell 187.78 points, or 0.86 percent, to end at 21,521.53, after rising 92.51 points on Tuesday. ; The Topix index of all first-section issues closed down 10.44 points, or 0.66 percent, at 1,565.14. U.S.-China trade negotiations resumed in Shanghai on Tuesday, but Trump has refueled concerns that the two economies would fail to strike a deal to settle their dispute, brokers said. After exhibiting some resilience thanks to buybacks and a rise in U.S. Dow Jones industrial average futures in off-hours trading, the market went sideway in the afternoon with participants coming to sit on the fences to wait for the outcome of the U.S. Federal Reserve's two-day Federal Open Market Committee meeting through Wednesday, brokers said. Stocks bowed further to selling in the morning due also to sluggish performances of Shanghai and Hong Kong equities. (news.financializer.com). As reported in the news.

dow: How are the major benchmarks faring The Dow Jones Industrial Average DJIA, -1.05% closed down 334 points, or 1.2%, at 26,864 while the S&P 500 SPX, -0.90% shed 32 points, or 1.1% to 2,980, according to Market Watch. Meanwhile, the Nasdaq Composite COMP, -0.79% lost 98 points, or 1.2% to 8,175. The Dow Jones Industrial Average DJIA, -1.05% sank to a triple-digit loss, its biggest one day fall since May 31. On Tuesday, the Dow closed down 23.33 points, or 0.1%, at 27,198.02, while the S&P 500 index fell 7.79 points, or 0.3%, to 3,013.18 and the Nasdaq Composite Index retreated 19.71 points to 8,273.61, a slump of 0.2%. On the last day of July, the Dow Jones index is up 15% for the year-to-date, the S&P 500 index up 18% and the Nasdaq up 23%. What's driving the market Investors were widely expecting a 0.25% cut in the federal funds rate but some were disappointed the Fed didn't lower interest rates by more than a quarter point, or clearly signal that further rate cuts were on the way. The FOMC statement does not suggest a Committee committed to additional cuts, UBS economist, Seth Carpenter said. At his press conference, Fed chair Jerome Powell added that the Fed has moved to a somewhat more accommodative stance as part of a mid-cycle adjustment as trade tensions seem to be having a significant effect on the economy and the global manufacturing slowdown is a bigger factor than expected last year . But Powell's comment that Wednesday's rate cut was part of a mid-cycle adjustment and not necessarily the start of a monetary easing cycle disappointed investors who had priced in further rate cuts later this year. (news.financializer.com). As reported in the news.

robert yi: Samsung shares fell more than 3 percent at one point, according to The Japan Times. In addition to already high uncertainties caused by prolonged global trade conflicts, the external environment regarding our component business has recently come under significant new challenges, Robert Yi, Samsung's head of investor relations, said on an earnings call. The South Korean tech giant also posted a 56 percent plunge in quarterly profit through June as an oversupply of memory chips continued to weigh down prices. ; The profit decline and uncertain outlook overshadowed the company's optimism that the chip market had bottomed out and would start to recover in the second half. As a result, we no longer believe it is possible to reasonably predict or forecast our free cash flow for 2018 through 2020, Yi added. Outlook from the chip leader is closely watched by investors as a barometer of demand for smartphones and other electronics, as well as servers that process massive amounts of data. Like other global tech companies, Samsung has been hurt by the long-running trade war between the United States and China, and an escalating spat between Japan and South Korea is likely to pressure third-quarter results. (news.financializer.com). As reported in the news.

state council: Photo by Ren Chao/Xinhua The Association of Southeast Asian Nations ASEAN has replaced the US to be the second-biggest trade partner of China in the first half of 2019, while China remained the biggest trade partner of the bloc for the 10th consecutive year, customs data showed, according to Global Times China. The figures highlighted closer regional cooperation in a time of rising global protectionism and unilateralism. The Thailand Day event was held at the Beijing International Horticultural Exhibition on Sunday. Bilateral trade between China and ASEAN member countries increased 4.2 percent to reach 291.9 billion in the first six months of this year, Li Chenggang, an official of China's Ministry of Commerce told a press briefing of the State Council on Wednesday. Li also noted that the 27th round of the Regional Comprehensive Economic Partnership negotiations has been held in Zhengzhou, capital of Central China's Henan Province from July 22 to July 31. In 2018, the total cumulative investment between China and ASEAN stood at 205.71 billion, growing 22 times over the previous 15 years. (news.financializer.com). As reported in the news.

unionist party: Amid growing speculation over the prospect of an early general election, Mr Johnson was warned the Tories could be annihilated at the polls unless the UK leaves the EU by Halloween, according to The Independent. ISOCountry Groups euro at be cy ee fi fr de gr ie it lv lt lu mc mt nl pt sk si sm es va uk gb us us variants 1 33.4, 2 33.3, 3 33.3 We'll tell you what's true. The new PM was also criticised for wining and dining the Democratic Unionist Party whose MPs propped up Theresa May's government ahead of talks aimed at restoring powersharing in Northern Ireland. You can form your own view. Subscribe now Elsewhere, video footage emerged of Mr Johnson's top aide, Dominic Cummings, claiming that Tory MPs do not care about poorer people. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. (news.financializer.com). As reported in the news.

voting: It's Not Too Late, according to MSNBC. Corporate Democrats Have Been in the Driver's Seat for 30 Years. Why Is Buttigieg Defending It CNN Should Have Asked About Ranked-Choice Voting. Not Anymore. Now, a DSA Member Is Primarying Him. Biden, Buttigieg and Harris Rewarded by Industry for Waffling on Medicare for AllACT LOCALLYDebate Protesters Push Candidates To Make Detroit the Engine of a Green New Deal 100 Years Ago, Farmers and Socialists Established the Country's First Modern Public Bank In 2008, Democratic Socialists Endorsed Him. (news.financializer.com). As reported in the news.

wednesday revenue: The stock later recovered some losses to trade down 2.6%. Operating profit was 6.6 trillion Korean won 5.6 billion for the three-month period that ended June, compared with 14.87 trillion Korean won 12.6 billion the same period a year ago, Samsung said in a statement on Wednesday, according to CNN. Revenue also dropped 4% year on year to 56.13 trillion Korean won 47.5 billion during the same period. Shares in Samsung Electronics Co Ltd SSNLF tumbled as much as 3.3% in Seoul following the announcement. The weakness and price declines in the memory chip market persisted as effects of inventory adjustments by major data center customers in the previous quarters continued, despite a limited recovery in demand, the company said. Sales of the company's flagship devices such as the Galaxy S10 fell because of slowing demand for premium products, while sales of the cheaper Galaxy A Series have increased, it added. Read More Demand for smartphones has also declined because of economic uncertainty, Samsung said. (news.financializer.com). As reported in the news.

telco boss: The telco boss said the 50 billion government-backed NBN is creating an unnatural distortion in the market, resulting in Australia having the second most expensive wholesale broadband prices in the world, according to Nine News Australia. Wholesale broadband prices have more than doubled under the NBN and are set to go even higher, Mr Penn said in a statement. To improve your experience update it launch fight against NBN amid predicted wholesale price hikes By Matt Dunn Senior Producer10 26am Jul 31, 2019Facebook Tweet Mail The National Broadband Network has one chance to get its unsustainable pricing structure right or service providers will abandon it and point customers toward 5G networks instead, Telstra chief executive Andy Penn has warned. Australia's NBN is among the most expensive in the world. Mr Penn said the NBN could be rendered worthless if wholesale pricing isn't lowered, with retail providers forced to consider 5G as an alternative for customers. AAP The consequence of this is that it is unprofitable for retail service providers to resell NBN at the current retail prices. (news.financializer.com). As reported in the news.

trump: All market data delayed 20 Presidential Election Published 2 days ago Hickenlooper scolds 2020 Dems 'Medicare-for-all,' Green New Deal would 'Fed Ex' election to Trump By Gregg Re Fox Hickenlooper says the Democratic Party is a 'big tent'Former Colorado Governor John Hickenlooper weighs in on whether or not there is room for a moderate candidate in the 2020 Democratic presidential primary field, according to MSNBC. Former Colorado Gov. John Hickenlooper warned during Tuesday night's Democratic primary debate that you might as well Fed Ex the election to Donald Trump if the party adopts Bernie Sanders' Medicare for All plan, the so-called Green New Deal and other populist initiatives. author type Person name Gregg Re publisher type Organization name Fox News logo type Image Object url width 133, height 60 image type Image Object url ve 1&tl 1 width 696, height 392 context http //schema.org/ type Web Page name Hickenlooper scolds 2020 Dems 'Medicare-for-all,' Green New Deal would 'Fed Ex' election to Trump speakable type .head1 .speakable url o n,i if n&&i for var r in 0 n r window.JSON.parse var i JSON.parse n ;void 0! window.BOOMR config Could not parse new e true 0! a.aFeo Applied Fox Nation Listen More Expand / Collapse search Login Watch TV Hot Freedoms Fox News News MoviesTV News Music News Style News Entertainment Leaders Lifestyle Food Drink Cars Trucks Travel Outdoors House Home Fitness Well-being Style & Space Planet Earth Wild Nature Natural Games Military Tech Health Healthy Living Medical Research Mental Health Cancer Heart Health Children's Live Full Episodes Show Clips News Clips About Contact UsCareers Fox Around the World Advertise With UsAd Choices Media Nation Fox News Shop Fox News GoFox News & Products Fox News Terms of Use Updated Privacy Policy What's Changed Closed Captioning Policy Help Contact UsThis material may not be published, broadcast, rewritten, or redistributed. 2019 FOX News Network, LLC. All rights reserved. John Hickenlooper warned during Tuesday night's Democratic primary debate that you might as well Fed Ex the election to Donald Trump if the party adopts Bernie Sanders' Medicare for All plan, the so-called Green New Deal and other populist admonition came as Montana Gov. John Delaney also seemingly sought to pump the brakes on the sweeping proposals from Sanders and Massachusetts Sen. Steve Bullock and former Maryland Rep. (news.financializer.com). As reported in the news.

world economy: US interest rates Jerome Powell, the Fed chairman, said weak global growth and the US-China trade war had been disruptive for the world economy and had an impact on growth in America, despite the US labour market remaining strong with the lowest unemployment rate since the late 1960s, according to The Guardian. We see those as threats to what is clearly a favourable outlook. The US central bank cut its key benchmark interest rate by a quarter of a percentage point, to a range of 2%-2.25%, in the first reduction in borrowing costs since immediately after the financial crisis a decade ago. And we see this action as designed to support them and keep that outlook favourable, he said of the interest rate cut. Stocks fell on Wall Street straight after the decision as investors warned the 0.25% cut might not be enough to deliver greater stimulus for US growth. Donald Trump, who had called for a more aggressive cut in interest rates, issued a sharp rebuke to the Fed chairman when he said on Twitter As usual, Powell let us down. (news.financializer.com). As reported in the news.

al sharpton: Al Sharpton. ; Al is a con man, a troublemaker, always looking for a score, according to The Japan Times. Just doing his thing, Trump tweeted, adding that Sharpton Hates Whites & Cops! He struck out after Sharpton one of the best known, if controversial, black figures in U.S. politics expressed support for Baltimore, a majority black city near Washington that has also come in for a presidential bashing. Rejecting criticism that he is stoking America's smoldering racial divisions, Trump attacked African American civil rights activist Rev. Over the weekend, Trump described Baltimore as a rat and rodent infested mess unfit for humans and blamed this on Elijah Cummings, the Democrat who represents much of the city in Congress. Sharpton told reporters in Baltimore that Trump has a particular venom for blacks and people of color. Cummings, who is black, heads the House Oversight committee, one of the powerful bodies mounting politically sensitive probes into everything from Trump's Russia connections to tax records. (news.financializer.com). As reported in the news.

american end: Farage said that W4B had been organized 'at the American end' by Gerry Gunster, the American political strategist who in 2016 assisted Leave.EU, the unofficial referendum campaign for the UK to leave the EU. Farage's public fundraising brought out publicly what was clear from an analysis of the economic and social forces behind Brexit, and the relations between Trump and pro-Brexit groups in the UK. Some Chinese media mistakenly treated Brexit as a domestic British issue without major implications for China, according to Global Times China. In reality, it has significant implications for China. The Financial Times noted, Mr. Not long ago, China-UK relations entered a golden period when David Cameron was British prime minister. London is Europe's most important financial center. The UK was then the first G7 country to join the Asian Infrastructure Investment Bank AIIB . Within that framework Cameron developed a rational strategy, from the viewpoint of both the UK's population and British capitalism, positioning the UK as the gateway for China into the EU. This aided the UK's prosperity as it had great advantages in pursuing such a strategy. (news.financializer.com). As reported in the news.