Uber, the world’s most valuable ride-hailing startup with more than USD 13 billion in funding, has agreed to merge its China branch with Didi Chuxing, after suffering from a grueling price war with the local rival.
China has been the largest trading partner of Malaysia for six consecutive years since 2009. The trading amount increased from just USD 12 billion in 2000 to almost USD 108 billion in 2014.
In 2013 Chinese President Xi Jinping announced the Silk Road Economic Belt and the 21st Century Maritime Silk Road, both of which constitute the “One Belt One Road” (OBOR) development framework.
While Xi Jinping’s 2015 visit to the United States counts as his first state visit to the country, this was not the first time he had visited the US as Chinese president.
Chinese investment and economic engagement in Africa can be expected to intensify under China’s development plans for what it has described as the 21st Century Maritime Silk Road.