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ISSUE 96 - Apr 2012
 
 
What are your expectations for the gross gaming revenue growth of Macau’s gaming industry in 2012?
Decline
Growth above 20 percent
Growth from 10 to 20 percent
Stagnation
 
 

An Opportunity, Not a Threat


Posted: 8/1/2005 1:54:00 AM
Rating:     0% (0 votes)
  

During his visit to Macau last month, the president of the European Union (EU), José Manuel Dur?o Barroso, trumpeted the virtues of the EU s partnership with China, but at the same time express concerns the EU had over its affairs with Beijing.

The president of the European Commission hinted that comments heard in European political circles that China is a threat to the EU ignore the fact that China is also an arena of great opportunities for Europe.

During his five-day official visit to China, the president of the European Commission said that the EU is not at all making a negative assessment of the economic situation in China. On the contrary, he said the EU recognises the great economic achievements China has made in recent times, and also its great successes in terms of opening and reforming its economy. He said that the rapid development of China is a great news not only for the Chinese, but also for all, as it is in the best interests of the world economy.

Barroso drew Europe s attention to the fact that China cannot be blamed for every factory that closes in Europe due to the so-called displacement of labour. Maybe the European politicians don’t have the courage to admit the number of jobs that are being created in Europe because of the increasing exports to China," he said.

Stressing that Chinese exports benefit European consumers with an access to cheaper products, Dur?o Barroso didn’t forget the threat posed to its textiles industry. Speaking on this issue, he acknowledged the Chinese government s willingness to discuss the problem on a political level, which is what he had called on President Hu Jintao and Premier Wen Jiabao to do, in an earlier letter.

Speaking about China as a market economy, Dur?o Barroso suggested that some measures were still needed to be taken by Beijing in areas of trade such as investment, trade and intellectual property rights, as well as human rights issues, in order to achieve the necessary consensus amongst the European Parliament, the parliaments of member states and the European public to improve relations further and to lift the arms embargo.

Barroso noted that trade problems exist because trade exists. "We should look at it and solve it in a constructive manner, trying to have a good solution in a spirit of common interests," he said. He added that the EU is committed to promoting an "important strategic partnership" with China, which is in the interest of both sides.

He said he hoped that the EU and China would increase cooperation in the fields of energy, industry, civic aviation and space technology. He also stressed the need to respond to global challenges such as adverse climate change, global terrorism, problems faced by less developed countries and threats from new and deadly epidemics.

During his visit to Macau, which took place at the request of Dur?o Barroso himself, the EU president expressed his admiration at the remarkable growth and stability of the SAR as it underwent a very important developmental phase, with the economy recording amazing growth.



Headlines

Facts on Figure April 2010

Home truths

A comprehensive study into Macau's property market says flexibility and caution should be the watchwords as officials shape the future of public and private housing. But most of all, home ownership should be promoted.

Lap of luxury

The Waterside in One Central on the edge of Nam Van Lake is the jewel in the crown of Macau Property Opportunities Funds portfolio. Leasing has just started and prospects are looking good .

Winning bet

A couple of hiccups aside, the Macau Property Opportunities Fund has sailed through the global financial crisis, seeing its asset value increase. The company believes its investment choices have left them well positioned. A Hong Kong listing would make sense, they say, but investors will have the final say.
Other Macau Latest News

More than just gaming

MGM is still waiting for Cotai approval, but Grant Bowie reiterates that it will go beyond just gaming

Okada on ‘fishing expedition’

Wynn’s lawyers accuse the Japanese businessman of trying to find improper acts, which they say never happened

Galaxy to sponsor volleyball tournament

The gaming operator is again backing the Macau stage of the FIVB Volleyball World Grand Prix

New border crossing could drive up shop prices

Property experts say prices in Ilha Verde area could go up 10-fold

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