What's news

Abe's focus on India 'not sensible'

Japanese Prime Minister Shinzo Abe's strategy of working with India rather than China does not make sense from a business or economic perspective, Li Daokui, director of the Center for China in the World Economy at Tsinghua University, told a panel during the World Economic Forum in Tianjin on Thursday. "From a purely business and economic view, Abe's strategy of working with India, not with China, doesn't make sense. China is four times a market as large as India and is still growing faster. The market is much bigger in China. Forgetting the big market and working with the small market, that doesn't make sense," said Li, a former central bank academic adviser. "I think rather that a political motivation behind Prime Minister Abe's strategy is the main reason," he said. "Whether Abe's strategy is working or not, so far I haven't seen major success. ... I am a bit pessimistic about the prospects for the Japanese economy," he said.

CNOOC invites foreign bids