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Showing posts from May 3, 2018

A small quick step for China’s PLA Navy

A small quick step for China’s PLA NavyBy Kang Jie Source:Global Times Published: 2018/5/1 20:43:40
Illustration: Liu Rui/GTThe People's Liberation Army (PLA) Navy marked its 69th anniversary on April 23. On the same day, China's first domestically built aircraft carrier, known as the Type 001A, went through its inclining test. It is set to begin its maiden sea trial, demonstrating the growing capabilities of the PLA Navy which is inching closer to its ambitions of building a modern aircraft carrier.Since the 21st century, the development of the PLA Navy's warships has taken short quick steps, employing gradual innovation and developing smaller groups of transitional types in a short period of time. Through the rapid accumulation of experience and testing, development can take a great leap forward. The launch of the Type 055 destroyer demonstrated important leaps in the development of China's warships by taking short quick steps since the development of the Type 052B de…

China's Belt & Road Initiative through enhancing economic ties: expert

China's Belt & Road Initiative through enhancing economic ties: expertSource: Xinhua| 2018-05-04 00:20:25|MUSCAT, May 3 (Xinhua) -- Oman needs to consolidate its economic ties with China to benefit from the Belt and Road Initiative, well-known Omani columnist Khalfan Al-Touqi told Xinhua in a recent interview."The project is very important not only for China or Oman alone, but for the world," Al-Touqi, a columnist and writer, commented on the Chinese initiative, which aims to build a trade and infrastructure network to connect Asia with Africa and Europe along the ancient Silk Road trade routes.He said Oman needs to elevate its economic ties with China to the level of partnership to benefit from the Belt and Road Initiative.What distinguishes Oman is that it is located on the ancient Silk Road, and could serve as China's gateway to the Gulf and its important passage to the Horn of Africa, Al-Touqi said."So, the economists in Oman need to think strategically …

China giant R&F pushing ‘Belt and Road’ initiative in Cambodia

Rayson: ‘There are multiple reasons Chinese investors are drawn to Cambodia.’ Photo supplied
Siv Meng
Phnom Penh
Publication date 04 May 2018 | 09:16 ICTONE of the 10 biggest real estate investment companies in China, R&F Properties, is investing in a huge Cambodia project named R&F City, perched on a 7-hectare stretch of land along Samdech Decho Hun Sen Boulevard. Siv Meng, real estate correspondent for Post Property, met up with the company’s senior sales executive, who goes only by the single name Rayson, to find out more about the development.When did R&F Properties first enter Cambodia?
R&F properties came into Cambodia as an investor in 2017. Cambodia is the second country in Southeast Asia that R&F properties invested in after Myanmar. The reason we decided to come to Cambodia is due to the “Belt and Road” initiative proposed by [China President] Xi Jinping, and Cambodia is in a position to receive a lot of benefit from this policy. We developed the project b…

Need of a Cancer Hospital in Balochistan

By:  Munaj Gul MuhammadCancer is one of the lethal diseases which puts the life at risk if it remains untreated and delayed. In the resent past a large number of cases have been reported in Balochistan. In the province reported patients do not beat cancer rather they have been beaten to death. The simple reason behind the death of patients is that the whole province does not have even a single cancer hospital. The children of the Balochistan are departing from their beloved parents due to the cancer. Although, it is very hard to lose the beloved ones.Despite, being rich in natural resources, Balochistan is, unfortunately, the poorest province.
According to a UNDP report, Balochistan has the lowest literacy rate — 40 pc and — approximately 71pc of the population lives in poverty. The province is expected to become the economic hub of South Asia because of the China-Pakistan Economic Corridor but, sadly, the province lacks good quality hospitals and other healthcare facilities.Unfortuna…

Emerging irritant: on China-Pakistan Economic Corridor

Martand Jha MAY 04, 2018The China-Pakistan Economic Corridor is a thorn in India-Pakistan relationsThe Belt and Road Initiative (BRI) is China’s ambitious project for increasing connectivity and economic cooperation within Eurasia. Since its announcement in 2013, the BRI has been positively received by many countries covered within its ambit. However, notwithstanding the recent meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping in Wuhan, China, one issue associated with the BRI will likely be considered an irritant for China: India’s position on the China-Pakistan Economic Corridor (CPEC).Last May, New Delhi sent a clear message to Beijing that it doesn’t support CPEC. India registered its protest by boycotting the high-profile Belt and Road Forum organised by China. Its principal objection was that CPEC passed through Pakistan-occupied Kashmir (PoK). Earlier this month, the Ministry of External Affairs made its position clear on this issue when asked about …

When India and China meet

Nirupama RaoMAY 03, 2018 00:15 ISTThe message from Wuhan is: let us give each other space and rationalise our differences in a grown-up wayThe path of India-China relations is strewn with the ghosts of summits past. The leaders of the two countries have met, expressed the loftiest of sentiments, gone their separate ways. No doubt, summits are good, nobody has a quarrel with them, the media at least loves them. The relationship has often benefited from such meetings.A note of hope was therefore sounded when Prime Minister Narendra Modi flew into the Chinese city of Wuhan to meet with President Xi Jinping for an “informal” summit last week. The aim, as announced, was to build strategic communication and provide a long-term perspective for what is a complex and adversarial bilateral relationship.Cautious optimismFor the duration of a day and a half, the leaders of the world’s two most populous countries held talks against a classic Chinese landscape of gardens and lakes, with and without…

The Xi-Modi “Chindia Reset” Summit: A New “Pacific” Asian Century?

The two leaders might be leading the path to a worldwide power shift from the West to the EastMay 3, 2018President Xi Jinping and Prime Minister Narendra Modi walking along Wuhan’s East Lake. Credit: Twitter/@narendramodiBy Patrick MendisUS President Donald Trump once characterised North Korean dictator Kim Jong-un as the “Rocket man.” More recently, as the historic inter-Korean summit took place at the Peace House of the Panmunjom village in the UN-sponsored Demilitarised Zone, Trump called him a “very honorable” leader. The most pervasive and inescapable news this week has been the historic summit between North and South Korea.However, a separate and less covered “informal summit” across the Yellow Sea, and one likely to be as consequential is that of Chinese President Xi Jinping and Indian Prime Minister Narendra Modi. The summit, taking place at Chairman Mao Zedong’s summer villa in Wuhan of Hubei province in central China, is arguably more historic than the Korean peninsula to “r…

ADB chief warns of Belt and Road debt trap

Nakao urges countries to carefully weigh viability of China-backed projectsMIKHAIL FLORES, Nikkei staff writerMay 03, 2018 16:49 JSTADB President Takehiko Nakao says economic returns warrant careful consideration when financing new infrastructure. (Photo by Jun Endo)MANILA -- The head of the Asian Development Bank on Thursday warned countries against unsustainable borrowing to fund infrastructure projects, which could leave them stuck in a debt trap.ADB President Takehiko Nakao told reporters that China's Belt and Road Initiative is a key program to connect regions and broaden integration and cooperation across Asia, and that the ADB would cooperate with China when appropriate. But he cautioned against excessive borrowing to cover infrastructure gaps."If countries borrow too much for certain infrastructure without seriously looking at the viability and feasibility," he said, "it will bring more trouble in repayment."Nakao was holding a news conference during th…

Chinese satellites to provide emergency response for Belt and Road countries

by Andrew Jones May 03, 2018 12:40An early image returned by the Fengyun-3D weather satellite of the South China Sea region in December 2017. CNSChina has set up an emergency response mechanism to help countries involved in the Belt and Road Initiative deal with extreme weather, according to a China Meteorological Administration (CMA) announcement.Under the mechanism, countries suffering extreme weather events such as typhoons and sandstorms can submit applications to the World Meteorological Organization (WMO).China will then provide coverage and data using its Fengyun ( 风云, literally, 'wind cloud') weather satellites to ensure the timely release of information essential to disaster relief.Zhang Zuqiang, spokesperson for the CMA, said the emergency mechanism was established in response to a request from the WMO in mid-April to obtain more observations of the Indian Ocean region through China's geostationary satellites, China Dailyreports.China has launched 16 Fengyun sate…

China’s Belt and Road Initiative: Aid, Investment or Something Else?

BY CHAORONG WANG , Borgen MagazineSEATTLE — Building on the concept of the ancient silk road, Chinese President Xi Jinping unveiled the Belt and Road Initiative (BRI), a transcontinental infrastructure project and trade partnership, during a visit to Kazakhstan in 2013. Since its announcement, BRI has been one of the most ambitious international projects that the People’s Republic of China has ever undertaken, recognized as being on par with Deng Xiaoping’s Reform and Opening-Upin the 1980s.The numbers reveal a lot about the staggering scope and scale of this project. As of October 2017, the Chinese government has spent more than $300 billion on development projects and plans to commit $1 trillion more in the next decade. The partnership with 68 countries across Africa, ASEAN, the Middle East and Eastern Europe covers 65 percent of the world’s population, 75 percent of energy resources and 40 percent of GDP.Such unprecedented scope and scale require careful long-term strategic plannin…

Costly lessons for leaders eyeing China's Belt and Road billions

By Bloomberg | Updated: May 03, 2018, 04.35 PM ISTSri Lanka now spends 80 percent of its revenues paying down what PM Ranil Wickremesinghe has called "unprecedented" debts.By Iain MarlowIn the middle of a brand-new four-lane highway cutting through southern Sri Lanka’s jungle, Vijitha Gamage and his family left large piles of freshly harvested rice paddy to dry on the baking asphalt.They didn’t need to dodge traffic. On a recent afternoon, the barely used highway built with Chinese money through a rural stretch of the island nation carried more 50-kilogram (110-pound) rice sacks than vehicles. "The road gets really hot, so the rice dries faster," Gamage said.
The project is one of several in Sri Lanka that offer lessons for countries looking to snag some of the more than $500 billion projected to underpin Chinese President Xi Jinping’s Belt and Road infrastructure initiative. Interviews with the nation’s politicians, government officials and financial experts show t…

Pakistan faces highest debt distress from Chinese-funded BRI: Report

A study conducted by Center for Global Development revealed 23 out of 68 nations involved in the BRI were facing risk of debt distress
LAHORE: A report from the Center for Global Development (CGD) regarding Belt Road initiative (BRI) has claimed Pakistan is the largest nation at risk from Chinese-led financing for these projects.In its assessment, CGD said twenty-three countries faced the risk of debt distress out of 68 countries evaluated hosting BRI-funded projects.The analysis said, “China’s track record managing debt distress has been problematic, and unlike the world’s other leading government creditors, ✔China has not signed on to a binding set of rules of the road when it comes to avoiding unsustainable lending and addressing debt problems when they arise.”Regarding Pakistan, CGD said 🔴“Through CPEC, Pakistan currently serves as a centrepiece for BRI. The total value of CPEC projects is currently estimated at $62 billion, with at least $33 billion of this amount expected to be …

Informal Summit Between PM Modi and President Xi Caps Off India-China "Reset"

Aman Thakker, NewsletterPrime Minister Modi flew to Wuhan, China on Friday for an “informal summit” with Chinese President Xi Jinping. The summit is the culmination in the ongoing efforts by India to “reset” relations with China, particularly after a tense year in the relationship, featuring a 72-day long standoff in the Doklam plateau.
The “informal” nature of the summit was widely interpreted as a “bold move” in India on the part of PM Modi. Indeed, both sides agreed that the summit would maximize time between the leaders of both countries, and would not issue any joint statement or communiqué after the talks. PM Modi also announced that the summit would be an opportunity for India and China to “exchange views on a range of issues of bilateral and global importance.. particularly in the context of current and future international situation,” and that the leaders would “review the developments in India-China relations from a strategic and long-term perspective.”Key takeaway from the S…