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During Europe visit, China's Xi Jinping seeks France's participation in 'Belt and Road' project

BLOOMBERGMAR 24, 2019

PARIS/ROME/MILAN - As he prepares to begin a three-day trip to France, Chinese President Xi Jinping said he is hoping to get France’s cooperation “in the framework of the ‘Belt and Road’ initiative.”In a letter published in the Le Figaro newspaper, Xi called for more trade and investment between the two countries. He listed nuclear energy, aeronautics, space and agriculture as industries with potential for deeper ties.“French investors are welcome to share the opportunities of development in China,” Xi wrote. “I equally hope that Chinese companies can better succeed in France.”Italy on Saturday became the first Group of Seven country to sign a “Belt and Road” memorandum, agreeing to cooperate in the Chinese-led initiative to build trade-promoting infrastructure across the planet.France, for its part, doesn’t plan to sign any such memorandum but it is seeking Chinese investment. President Emmanuel Macron on Friday said the European Union needs to approach relations…
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What is the Belt and Road Initiative, and why is China pushing it hard?

Garimella SubramaniamMARCH 23, 2019 18:52 ISTThe Hindu Explains
Fissures surface in China’s ambitious Belt and Road Initiative, but Beijing pushes hard on the project to leverage its influence worldwide.The story so far: Six years ago, Chinese President Xi Jinping launched a mammoth infrastructure project straddling many countries and continents. Of the projects, the most ambitious is the $60+ billion China-Pakistan Economic Corridor, aimed at linking China’s Xinjiang province with the Arabian Sea.What is it?The Belt and Road Initiative (BRI), also known as the One Belt One Road Initiative, is the most emblematic of China’s economic and industrial might, as of its ambitions for global, political and strategic influence. The appellation has come to signify the many Beijing-backed infrastructure projects that predate Mr. Xi’s ascent.When Mr. Xi announced the BRI’s formal launch in Kazakhstan in 2013, there were few signs that the policy would command the heft and reach it has acquired si…

Belt and Road Initiative the new norm for globalization: economist

Source:Global Times Published: 2019/3/24 15:15:50
The Belt and Road Initiative (BRI) can be a new model for globalization, as the current model is beginning to falter, said Li Yang, an expert in economics at the China Development Forum in Beijing.Li, director-general of the National Institution for Finance and Development under the Chinese Academy of Social Sciences, pointed out that the world is currently in a stage of de-globalization. One typical example of this is the discrepancy between global trade growth and GDP growth. Data-wise, from 1960 to 2015, global trade grew at an average annual rate of 6.6 percent, and global GDP grew 3.5 percent annually. From 2008 to 2015, trade grew at an average annual rate of 3.4 percent, and GDP grew at an average annual rate of 2.4 percent. Since 2011, global trade growth has fallen below 3 percent for five consecutive years, barely keeping up with GDP growth. The data indicates that global economies have begun to disconnect and the trend of de-…

China provides $0.2 mln aid for rehabilitation of flood affectees in Balochistan

Web Desk On Mar 24, 2019ISLAMABAD: China has provided $0.2 million financial aid for rehabilitation of flood affectees in Balochistan, ARY News reported on Sunday.Chinese Ambassador to Pakistan, Yao Jing, has handed over the relief cheque to Governor Amanullah Khan Yasinzai during a ceremony held at Balochistan House.While addressing the event, Yao Jing said that the Chinese government has provided $0.2 million financial assistance to carry out relief activities in the affected parts of Balochistan received heavy downpour.Jing said that the funds will assist rehabilitation of rain affectees in the province. He added that Pakistan was moving on the journey of prosperity, progress and peace.The envoy said that all political parties in Balochistan have supported the China-Pakistan Economic Corridor (CPEC) and the project will be helpful for the uplift of underprivileged areas.Read More: Balochistan CM expresses grief over loss of human lives in rainsGovernor Yasinzai said that some areas…

Balochistan to push for key changes in NFC award formula

Nasir JamalUpdated March 24, 2019Prime Minister Imran Khan in a group photo with Chief Minister Sindh Syed Murad Ali Shah, Chief Minister Punjab Sardar Usman Buzdar, Chief Minister Khyber Pakhtunkhwa Mehmood Khan and Chief Minister Balochistan Jam Kamal Khan at PM Office. — APP/FileLAHORE: As a second round of negotiations for the next National Finance Commission (NFC) award is scheduled here for next week, Balochistan has decided to push hard for significant changes in resource distribution arrangements between the Centre and the federating units as well as among the provinces in an attempt to secure a higher share from the federal divisible tax pool.More than two provincial government officials confirmed to Dawn on Saturday that Balochistan would fight for an increase in weight of some indicators in the formula for division of resources among the provinces. Besides, it would attempt to get another indicator — inverse cultivated land — added to the formula for horizontal resource dis…

Freedom of Balochistan fundamental to regional peace

Beebagr BalochUpdated : March 23, 2019The Baloch are India’s natural allies. A strong and liberal Baloch movement is a deterrent against Pakistan to carry out terrorist activities in Afghanistan and India.In 1839 when the British forces attacked Balochistan, the Baloch ruler Khan Mehrab Khan, instead of accepting the occupation of the British, resisted the foreign forces. He along with many of his other companions were killed during this resistance and became immortal in Baloch history. After the invasion, the British drew the Goldsmid Line and the Durand Line, dividing Balochistan into three parts. The western part was given to Iran, one chunk of Balochistan was brought under Afghanistan’s administration, but the eastern part of Balochistan (currently occupied by Pakistan) remained with the British, as a semi-autonomous region.The Baloch continued their unconventional resistance against the British forces until the British eventually conceded defeat and decided to leave the sub-conti…

Gwadar Port generates revenue of Rs358.151 million in three years

Shoaib Ur RehmanMarch 21, 2019ISLAMABAD: Gwadar Port has generated Rs358.151million revenue during last three years of which Rs32.324 million were given to Gwadar Port Authority (GPA) as per its approved share.As per details revenue share, distribution ratio or percentage between port operator (China Overseas Ports Holding Company Ltd) and Gwadar Port Authority are 91per cent and 9 to 15 percent respectively.A data issued by Ministry of Maritime Affairs on Thursday revealed that the share of China Overseas Ports Holding in Gwadar International Terminal and Gwadar Marine Services is 91 percent while Gwadar Port Authority share is 9 percent.Gwadar Port Authority share in Gwadar Free Zone is 15 percent while rest of the 85 percent shares is held by China Overseas Ports Holding Company.The data further revealed that the port concession agreements all around the world determine revenue sharing between port authorities and port operations and same principle applies in Gwadar Port Concession…

Xi’s Europe visit

TRIVIUM CHINA
Xi Jinping arrived in Rome last night.Xi wants the visit to usher in a “new era” for Sino-Italian relations (China Daily):“I hope to work with Italian leaders to map out the future of our relationship and move it into a new era.”The big news: China and Italy are expected to sign a memorandum of understanding (MOU) on the Belt and Road Initiative (BRI).Why that’s a big deal: Italy will become the first G7 country to sign up to Xi’s signature foreign policy project. And it comes over the objections of other EU countries and the US.The MOU is expected to preview Chinese investment in the four ports of Genoa, Palermo, Trieste, and Ravenna.Some context: Increased Chinese investment in Italy is starting from a low base (FT):“Italy…only ranks 76th globally for Chinese capital invested in greenfield projects in the last 10 years.”“Even when including mergers and acquisitions and other forms of investment, Italy…lags behind peers in terms of Chinese investment.”The bigger picture…

A salvo in the race for AI talent

Right now, human talent is perhaps the most significant factor in the U.S.-China race for dominance in artificial intelligence — and who doubts that it has become a race? Score one for China, then. The Global Times reports:Jiǎ Yángqīng 贾扬清, a research scientist and director of Facebook's AI Infrastructure, has officially joined Alibaba's Damo Academy, the AI research arm of the Chinese e-commerce giant, Alibaba said on Tuesday, confirming earlier media reports.Jia will serve as the vice president of engineering at Alibaba and lead research and development into big data computing platforms, according to Damo.

Why would Italy endorse China’s Belt and Road Initiative?

Financial Times Why would Italy endorse China’s Belt and Road Initiative? Potential move by Rome has caused allies and EU to flag serious concerns Italy’s prime minister Giuseppe Conte, left, has hailed closer ties with China, paving the way for a state visit by China’s president Xi Jinping, right, to Italy Miles Johnson in Rome Italy is expected to mark a high-profile state visit by Chinese President Xi Jinping starting on Friday by becoming the first member of the G7 group of big industrialised countries to officially endorse Beijing’s Belt and Road Initiative. Rome’s move to support BRI — a grand global project involving hundreds of billions in funding — has caused consternation among the country’s traditional allies, most notably the US, which is locked in a trade dispute with China. At a time when a populist Italian coalition government has clashed with the EU, and Brussels has recently labelled Beijing “a systemic rival”, the visit of Mr Xi to Rome raises questions about the E…