Tag: China

A headless chicken: Multiple obstacles hit CPEC’S progress
17Nov By Brian ThompsonNo Comments
China, Market, USA

A headless chicken: Multiple obstacles hit CPEC’S progress

 A ‘headless’ body, officially admitted as such, is supposed to be taking (or delaying) decisions in Pakistan regarding the 60 billion-dollar China-Pakistan Economic Corridor (CPEC) project.The Pakistan Government’s ordinance under which the CPEC Authority (CPECA) was set up last year lapsed in July, 2020 and no fresh legal/constitutional arrangement has been made. Questioned by a parliamentary committee, the government said the body is headed by “no one.”The man placed at the top of CPECA, retired Lt. general Asim Bajwa, is working away from the office, and not drawing any salary. He was forced to resign as a Special Adviser of Prime Minister Imran Khan in October following media exposure about over 90 business firms his family has allegedly set up. He was holding dual charge and now, Kha...
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Pakistan to seek $2.7 billion loan from China for CPEC construction project
15Nov By Joe RodriguezNo Comments
Asia, China, USA

Pakistan to seek $2.7 billion loan from China for CPEC construction project

At a time when financial institutions of China are reluctant in investing in the China-Pakistan economic corridor (CPEC), Pakistan has decided to seek USD 2.7 billion loan from China for the construction of package-I of the Mainline-1 project of CPEC.As per reports, the sixth meeting of the financing committee on ML-1 project, which includes dualisation and upgrading of the 1,872 km railway track from Peshawar to Karachi, decided that Pakistan would initially request China to sanction only USD 2.73 billion in loan out of the total estimated Chinese financing of about USD 6.1 billion.The Ministry of Economic Affairs has been directed to formally send the Letter of Intent to China next week as Beijing is expected to finalise its next year's financing plans by the end of the current month."In...
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China will import over $22 trillion worth of goods over the next decade: Xi Jinping
15Nov By Joe RodriguezNo Comments
Asia, China

China will import over $22 trillion worth of goods over the next decade: Xi Jinping

China is now shifting its focus to expand its imports in order to balance out its inbound and outbound shipments, and internationalize its currency.According to a senior official from a state-affiliated think tank, “China will no longer aim at achieving trade surpluses and solely expanding exports, but will pivot to moderately expanding imports for a balance between inbound and outbound shipments”.“This will not only help China to take the initiative in the new round of economic and trade negotiations, but also help promote the internationalisation of yuan,” said Huang Qifan, vice chairman of the China Center for International Economic Exchanges, during a financial forum.Earlier this month, President Xi Jinping had said that China will import over $22 trillion worth of goods over the next ...
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China holds meet with Pak, Sri Lanka, Nepal, Bangladesh to fight Covid-19
13Nov By Mike TrudellNo Comments
China, World

China holds meet with Pak, Sri Lanka, Nepal, Bangladesh to fight Covid-19

With an aim to fight coronavirus and boost economy, China hosted a high-level virtual meeting with Pakistan, Bangladesh, Nepal and Sri Lanka to build up “political consensus” in all nations.Termed as the “five-parties” meeting by the Chinese foreign ministry in a late-night statement on Thursday; the meet was an expansion of a similar meeting held in July involving Pakistan, Nepal, and Afghanistan, and hosted by foreign minister, Wang Yi.“To jointly defeat Covid-19, protect people’s life, safety and health, and accelerate economic and social recovery and development, China, Bangladesh, Nepal, Pakistan and Sri Lanka convened a vice-ministerial-level video conference on Covid-19 response on November 10,” the Chinese foreign ministry said in a statement on Thursday.“The five parties had in-de...
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Irked by proposed US-Taiwan economic talks, China calls Washington to ‘stop exchange or contacts’ with Taipei
12Nov By Mike TrudellNo Comments
China, World

Irked by proposed US-Taiwan economic talks, China calls Washington to ‘stop exchange or contacts’ with Taipei

China has urged the United States to “stop exchange or contacts” with Taiwan and stop elevating its relationship with Taiwan in any substantive way after Washington and Taipei announced they would hold economic talks this month.Chinese foreign ministry spokesperson Wang Webin while addressing a briefing, urged the US to adhere to the one-China principle.China considers Taiwan as its own territory with no right to form official ties with other countries and has watched with growing alarm as the US stepped up is support for the island.Taiwan is sending a delegation to the US for the inaugural meeting of the US-Taiwan Economic Prosperity Partnership Dialogue later this month. The US side will be led by Undersecretary Keith Krach, who visited Taiwan in September.“China consistently opposes off...
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China’s covert op Fox Hunt is targeting Canada’s Chinese community: Canadian Intelligence
12Nov By Mike TrudellNo Comments
China, World

China’s covert op Fox Hunt is targeting Canada’s Chinese community: Canadian Intelligence

Canada’s Security Intelligence Service (CSIS) on Wednesday said that covert “anti-corruption” operation named Fox Hunt is attacking members of the Chinese community in Canada to curb dissent among its diaspora.“Certain foreign states routinely attempt to threaten and intimidate individuals around the world through various state entities and non-state proxies. These states, such as the People’s Republic of China, may use a combination of their intelligence and security services as well as trusted agents to assist them in conducting various forms of threat activities,” said (CSIS) spokesperson John Townsend.This announcement came in less than a month following the US Justice Department charged eight individuals who allegedly participated in the same covert Chinese operation in the United Sta...
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China challenging Vietnam dominance in Cambodia, Laos through BRI projects: Analyst
3Nov By Mike TrudellNo Comments
China, World

China challenging Vietnam dominance in Cambodia, Laos through BRI projects: Analyst

Defense analyst Derek Grossman has said that by leveraging Belt and Road Initiative (BRI) projects, China has increasingly challenged Vietnam’s dominance in Cambodia and Laos, and that Vietnam will have to find alternative means of engaging its neighbors to combat Chinese influence.In an opinion article, Grossman stated that China’s strengthening ties to Cambodia and Laos in recent years have real effects on Vietnam. “For example, Chinese support has likely contributed to Cambodian and Laotian decisions not to fully support Vietnam’s stance on ASEAN’s Code of Conduct negotiations in the South China Sea.”“China has increasingly challenged Vietnam’s dominance in Cambodia and Laos, primarily by leveraging Belt and Road Initiative (BRI) projects to raise its influence in the region. Outspent b...
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Amid worsening ties, China expected to sanction Australian copper, sugar
3Nov By Mike TrudellNo Comments
Asia, China, Market, World

Amid worsening ties, China expected to sanction Australian copper, sugar

As relations between China and Australia continue to get worse on a range of issues, importers across Beijing are expected to brace for a round of sanctions on copper ore and copper concentrate as well as sugar this week.The General Administration of Customs of China (GACC) has issued a notice to exporters claiming that it had found a pest in imported log timber from Queensland and has banned all log exports from the Australian state. It further claimed that it had found contamination in barley shipments from Australian grain exporter Emerald Grain as well.As per repots, bans on copper ore and copper concentrate, as well as sugar, are expected to be introduced this week.In September, China suspended barley imports from Australia’s largest grain exporter, CBH Group, after also detecting pes...
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China lobbying to obtain French nuclear technology for ‘debt-trap diplomacy’: Report
2Nov By Mike TrudellNo Comments
China, World

China lobbying to obtain French nuclear technology for ‘debt-trap diplomacy’: Report

A US-based news organization has claimed that China has intensified lobbying and "backchannel negotiation" in its attempts to obtain billions of dollars of nuclear technology, which it can use as a new tool in its "debt-trap diplomacy"Under the "guise of ameliorating Franco-Sino bilateral relations", the Chinese government has recently intensified lobbying campaign targeting important French politicians in an increasingly "frenetic bid to obtain billions of dollars of nuclear technology", which intelligence sources fear Beijing will use to expand its global influence.Senior intelligence sources said Beijing was currently "lobbying hard" in order to secure a future visit by French President Emmanuel Macron in the recent future.China is seeking to "rekindle a 10-billion euro deal" between Ch...
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ETNAM appreciates US Senate for introducing resolution that calls atrocities on Uyghurs as genocide
31Oct By Mike TrudellNo Comments
China, World

ETNAM appreciates US Senate for introducing resolution that calls atrocities on Uyghurs as genocide

East Turkistan National Awakening Movement (ETNAM) has lauded the US Senate for introducing a resolution that recognizes China's atrocities against Uyghurs as a genocide."US Senators Robert Menendez, Ranking Member of the Senate Foreign Relations Committee, and John Cornyn introduced a bipartisan resolution to designate human rights abuses perpetrated by the People's Republic of China against the Uyghur people and other Turkic peoples in Occupied East Turkistan as a genocide," the ETNAM said in a statement.As per the statement, Menendez and Cornyn were joined by Senators James Risch, Marco Rubio, Ben Cardin, and Jeff Merkley."The resolution would hold China accountable under the 1948 United Nations Convention on the Prevention and Punishment of the Crime of Genocide and begin the process t...
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