Japan Inc poured billions into Britain. Now it’s having regrets

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Japan Inc poured billions into Britain. Now it’s having regrets

  Japan’s top companies are losing patience with the United Kingdom as Brexit fast approaches.

  Honda (HMC) became the latest to reduce its exposure to the British economy, announcing Tuesday that it will shu

tter its only manufacturing plant in the country by 2021, a move that is expected to result in the loss of at least 3,500 jobs.

  The company denied any link with Brexit but auto industry experts sa

id the uncertainty over future market access and the risk of tariffs must have played a part.

  Honda’s bombshell follows the decision by rival automaker Nissan (NSANF) to sc

rap plans to build a new SUV model in northern England. Electronics firms Sony (SNE) and Pan

asonic (PCRFF) have both said they will move their European legal bases out of the country because of Brexit.

  Japanese executives are fed up after warning for years of the risks inherent in a rupture with Europe.

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The UK government described the plant closure as “a

  ating decision for Swindon and the United Kingdom.”

  Business Secretary Greg Clark said in a statement that it was “deeply disappointing that this decision has been taken now” b

ecause Britain is a leader in developing new technologies needed by the auto industry.

  Britain is set to leave the European Union in less than 40 days, but the details of what happens then are uncertain.

  Car company executives have warned that crashing out of the bloc without a deal

on March 29 would snarl their supply chains and disrupt production.

  BMW (BMWYY) plans to close its Mini factory in England for one month of maintenance imm

ediately after Brexit because it can’t be sure of getting the parts it needs. Ford (F), which has 13,000 wo

rkers in the United Kingdom, has estimated that a disorderly Brexit would cost it $800 million in 2019.

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utiful bedrooms where every detail is considered are only

  One particularly thoughtful touch is the hotel’s use of photographs. If a couple is celebrating an anniversary, for example

the staff will often track down a wedding photograph and place it bedside during turndown service.

  For a wedding held on site recently, the staff even went so far as to print a photo from the wedding that took place earlier th

at day, to have it ready to display in the couple’s bridal suite after the evening’s festivities.

  For another guest with Irish heritage who was hoping to reconnect with his roots, a staffer wa

s able to track down a local Gaelic hurling club that had a connection with the guest’s family.

  ”He drove [the guest] out to the club where his cousin used to play hurling back, I don’t know, a h

undred years ago,” Heery says. “You know, small things. But for the guest, it was a huge moment wh

ere we’re helping him with his family history.”The secret: A farm-to-table menu unlike anywhere else in Ireland

  The Emerald Isle’s cuisine may be most famed for creative uses of potatoes, but contemporary Irish food encompasses far

more than spuds; highlighting the country’s excellent produce and meat is one of the hotel’s main culinary goals.

  During Adare’s renovation, culinary director Loughlin Druhan loaded his team into a cam

per van and road tripped around Ireland to find the best vendors for every ingredient they needed.

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Peking University’s Guanghua School of Management on Sat

turday announced its decision to expel Zhai from its post-doctoral station.

The review of Zhai’s admissions materials during the interview and recruiting process was lax, the university said in the statement.

There is no tolerance for academic misconduct which infringes on educational equality. Investigations into the cas

e should not only about one person, but extend to related working procedures, a spokesperson for the Mi

istry of Education said at a routine press conference on Friday in response to Zhai’s scandal.

The scandal broke out two weeks ago and refused to die down after angry net

izens condemned not only the academic fraud but also the damage done by renowned C

hinese universities to fair education opportunities by opening a “backdoor” to the rich and powerful.

The scandal raised alarm bells at BFA, Peking University and all higher education institutions,

which should strengthen regulations over academic management, Chu Zhaohui, a research fel

low at the National Institute of Education Sciences, told the Global Times on Tuesday.

Without giving specific names, Chu said some universities have already started internal investigations and reforms. “Conferral of illegitimately-earned de

grees has a long history in China, and some of the degree holders are in high positions in government or industry,” he said.

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Authorities guarded Boeung Kroam Lake for more

than a month before the event – to prevent illegal fishing and ensure there would be enough to catch at the annual event.

It kicked off in the early morning with hundreds of villagers racing to the lake, spo

rting straw hats and traditional scarves to shield themselves from the blazing sun.

The mood was light-hearted and many opted to grill the morning’s catch by the lake over a smoldering fire.

But for villagers who had attended the event for several years, the day’s haul proved disappointing.

“Before, there were bigger fish,” said Chin Khoung, 50.

“Now the fish are small and there’s less [of them].”

The Southeast Asian country, which boasts the mighty Mekong River and its man

y tributaries, is heavily reliant on fish as a major source of protein for its population.

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Fan Gang, director of China’s National Economic Research

 Institute and vice president of the China Society of Economic Reform

Structural reform on the supply side and the macro adjustment to the demand-side can be done at the same time.

While we must push forward with reforms continuously, whenever there are econom

ic fluctuations, it is still necessary to take some macro-control measures.

That’s what developed countries and market-economy countries have done to stabilize their economies over the years.

We can’t hold back some necessary adjustment me

asures on the demand side just because supply-side reform fails to see results. We need action on both sides.

When we discuss reforms, don’t forget that if the reform isn’t rolled out amid a stable develop

ment environment and the economy doesn’t move at a stable growth level, it will be hard to advance many reforms.

Huang Yiping, deputy dean of the National School of Development of Peking University

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The Chinese economy is in transition, but China’s financial

system hasn’t turned around yet. This is why private enterprises are facing difficulty in financing recently.

Small- and medium-sized enterprises have been squeezed out of the formal financing market, pushing up interest rates on informal financing.

Interest rate liberalization is crucial for the financial system to support the private eco

nomy, which will increase interest rates on formal financing and lower rates on informal financing.

It is necessary to regulate the informal financial sector, but not eliminate it. Shadow b

anking and fintech sectors do pose certain risks, but they are the meaningful products of financial liberalization.

Wang Yiming, deputy director of the Development Research Center of the State Council

We are still a developing country, with capital stock and per capita stock much lower than

in developed countries. So there is nothing wrong with stabilizing investment, which should be not seen as a sin.

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hinese analysts say the UK can set an example for Eu

Chinese analysts hailed the UK’s move to deal with concerns about risks of cooperating with Huawei in 5G through technical measures, and said the UK has

et an example for other European countries on the issue to prevent the effects of the US.

Zhang Chi, a Chinese telecommunications industry observer, said a Huewei offcial in the UK told him that the UK set up a

special testing center composed of working staff from Huawei and technological officials from the UK an

d headed by the latter, which was one of the ways to limit the risk

s of using Huawei mentioned in a Financial Times report on Monday.

“Such a facility runs a thorough, transparent examination of Huawei’s device and operating c

ode, and Huawei products can only enter the UK’s network after passing such tests,” Zhang told the G

lobal Times on Monday, and such a testing system is wh

ere the UK draws confidence from in terms of managing risks.

“In the era of globalization, China will embrace the world with open arms. We also expect the UK to maint

ain its true nature of opening and making wise choices based

on its own interests and work with China to bring more benefits to

the Chinese and British people,” Chinese Foreign Ministry

spokesperson Geng Shuang said at a routine press conference on Monday.

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Li-Ning’s success during New York Fashion Week inspired man

older Chinese brands, who began seeking ways to reignite their dying brands. For instance, in Se

ptember 2018, candy company White Rabbit and time-honored Shanghai cosmetic brand Maxam teamed up

to produce a lipstick that looked and tasted like traditional milk candy. According to Maxam’s official website, the

first batch of this lipstick, 960 in all, sold out in just two seconds on online retailer T-Mall.

Another example of an unusual alliance was that between bug repellent maker Liushen and Rio cocktail.

In the summer of 2018, these two companies co-produced a special cocktail drink, the gre

en color of which reminded consumers of Liushen’s mosquito repellent. While consumers were a bit hesi

tant to try it at first, this minty mixture of lemon, lime and grapefruit soon proved to be a great success.

Nong Fu Spring, a bottled water and beverage company, chose a different way to attract younger

customers. Instead of coming out with a new product, it invited an overseas design company to produce new packaging featuring the four seasons of th

e Changbai Mountains, where the company gets its spring water. Additionally, the company joined with

popular Chinese smartphone game Onmyoji and the Palace Museum to produce a limited series of water bottles.

These new marketing methods helped push sales of Nong Fu Spring bottled water to new heights.

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Folorunsho Amsat, a journalist, told Xinhua one of the

 of the polls postponement is that it would cause many voters to be depressed and the country might record a low turnout of electorates when the election eventually holds.

“The momentum is dying. I hope it’s not dead in one week,” he said.

According to the electoral chief, shifting the polls was “a difficult decision for the Commission to take.”

For more than seven hours, the electoral chief and the 12 nation

al commissioners of the INEC were in a closed-door meeting on Friday night.

The elections were supposed to hold at 119,973 polling units across the country while collation of res

ults was to take place in 8,809 registration areas or wards, 774 local government areas in 36 states and the capital Abuja.

Sources had hinted a possible postponement of the election due to logistic challenges in some parts of the country.

The official News Agency of Nigeria, citing official sources in the north-central state of Niger

had reported that ballot papers for two of the state’s three senatorial districts were missing as of Friday evening.

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