The Washington Post writes, "China's yuan has become one of the five most widely used currencies in global payments, an international financial transactions agency announced Wednesday. The yuan passed the Canadian and Australian dollars in popularity in December, according to the Society for Worldwide Interbank Financial Telecommunication, which provides communications between financial institutions and companies. It said the yuan now ranks behind the dollar, the euro, the British pound and Japanese yen. The change is an 'important milestone,' and confirms the yuan's transition from an emerging to a "business as usual" currency... Beijing is gradually easing controls on the yuan and encouraging its use abroad in an effort to reduce costs for its traders and increase Chinese companies' role in the global economy." 

"China's proposed new rules on foreign investment will help the Chinese government re-exert control over the flood of foreign money and interests coming into the country's booming Internet industry. That is likely to be a boon for Alibaba Group Holding Ltd. and Chinese Internet companies like it, investors, executives and lawyers say. But for foreign shareholders of those companies as well as Western Internet firms trying to operate in China, the rules could be a double-edged sword, they say...The draft rules, released by China's Ministry of Commerce last week, cover everything from policies to promote foreign investment to the loosening of restrictions on foreign investors in nonsensitive sectors. Crucially, they also target a complex corporate structure whose aim is to sidestep Chinese restrictions on foreign investment in politically sensitive industries like the Internet, telecommunications and education," reports The Wall Street Journal.  

According to an opinion article from The New York Times, "After years of near misses and unfulfilled promises, President Obama and Prime Minister Narendra Modi of India appear to have set relations between their democracies on a deeper, perhaps even revolutionary, path...Both leaders need to expand their economies, and both see the other as a crucial partner in offsetting China's increasingly assertive role in Asia... Although it has a history of suspicion and rivalry with China, India has acted independently in foreign policy and resisted American efforts to forge a common front. That seems to be changing with Mr. Modi, who shares concerns about China's growing economic and military strength and has shown remarkable confidence in striking a new path."