integration－trade, investment and finance－began benefiting large emerging and developing econ
omies. To be sustainable, globalization cannot serve just a few wealthy advanced economies. It m
ust also serve poorer and faster-growing economies, which today account for most of the global growth.
So, by flirting with trade protectionism and punitive tariffs on imports, adva
nced economies are seeking to implement the wrong policies at the wrong time. As the adv
anced countries have fallen into secular stagnation, they desperately need growth. Therefore, the rise of poorer eco
nomies is not a win-lose game, because it benefits the advanced economies, too.
In the aftermath of the 2008 global financial crisis, all major advanced econom
ies would have faced another Great Depression without the support of large emerging economies, particularly Ch
ina. And the contribution of these countries to global GDP growth is expected to climb to 80 percent by 2050.
tween law enforcement departments, intelligence agencies and
private institutions. In short, it authorizes Australia’s national law enforcement to issu
e mandatory “Technical Assistance Notices”, “Technical Capability Notices” and “Computer Access and Assistance Ord
ers” to all communication providers. Upon receiving the notification and instruction, the communication provider mu
st undertake a number of activities, for example, decrypting specific communications, installing specific softw
are on the network, modifying or replacing services, providing assistance in accessing facilities, and providing sour
ce code, third-party provider profiles, network device encryption schemes, and more.
reforms to foster an investor-friendly legal system, represented by strengthened information disclosure, prot
ection of investors’ rights and interests, and crackdown on legal breaches, Liu said.
China must promote the healthy development of the capital m
arket through key institutional innovations, the Political Bureau of the Communist Part
y of China Central Committee, the Party’s core leadership, said a statement released after a meeting on Friday.
Dong said the revised law is likely to be adopted by the end of the first half of the ye
ar, adding it is imperative and possible to expedite rolling out the revised version.
“Previously, controversies over the registration-based IPO system reform ha
ve prolonged the revision process, but now this factor has been largely lifted,” he said.
“As foreign investors are set to play a bigger role in China’s capital
market development, the revised law should also consider clarifying the rights and oblig
ations of overseas investors, to help them form a stable policy expectation,” said Xue Yi, an associate p