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Showing posts from May 16, 2018

China's $8 trillion construction programme 'riskiest environmental project in history'

By middle of this century 7,000 infrastructure projects are planned to span 64 countries across Asia, Africa and EuropeHarry Cockburn Wednesday 16 May 2018Photo taken by a drone shows workers on a double-deck suspension bridge being constructed over the Yangtze River in Wuhan in China's central Hubei province GettyChina’s $8 trillion plan to create a new Silk Road with sea and land links across Asia is the “riskiest environmental project in history”, a global expert on major infrastructure projects has said.The Belt and Road initiative is already underway. It aims to boost trade and economic growth across a vast area of the globe through the building of massive new transport infrastructure and energy projects.But Professor William Laurance of James Cook University in Australia has warned it could be the riskiest environmental venture ever undertaken.READ MOREColombian government ordered to protect Amazon rainforestConstruction suffers biggest drop in activity since Brexit vote10 s…

LeJ Balochistan chief, two would-be suicide bombers killed in Quetta raid

Salman Badeni. PHOTO: ISPRThe chief of the Balochistan chapter of the Lashkar-e-Jhangvi (LeJ) sectarian extremist group was killed in an intelligence-based operation (IBO) in the wee hours of Thursday.According to the Inter-Services Public Relations (ISPR), Salman Badeni was involved in the killing of more than 100 members of the Hazara community and policemen.The IBO was conducted in the Killi Almas area of Quetta following information about the presence of terrorists there, said the ISPR.Two would-be suicide bombers and “a high-value target Salman Badeni, the LeJ head of Balochistan” were killed in the IBO, said the military’s media wing.During the exchange of fire, Colonel Sohail Abid of the Military Intelligence also embraced martyrdom while four other soldiers got injured — two of them critically.The operation was conducted as part of the ongoing targeted military operation against terrorists, codenamed Radd-ul-Fasaad

https://tribune.com.pk/story/1712121/1-lej-balochistan-chief-ki…

CPEC UNDER ENORMOUS SPECULATION AND CHELLENGES

Samina Khan
CPEC, China-Pakistan Economic Corridor, is a first step of the journey towards economic regionalization in the world of globalization in the hope of regional peace, development and growth of economy not only for Pakistan and China but also for Iran, Afghanistan, India, Central Asian Republics and beyond. CPEC is the piece of OBOR (One Built One Road), this is an olden belt that could bind 65 countries of Central Asia, Europe and Africa to share the economic prosperity.Silk Road was first invented by the German geologist and explorer Baron Ferdinand von Richthofen in 1877; the “Silk Road” has been used as a metaphor of European and Asian cultural and trade interchange. The Silk Road provided the vehicle for all sorts of creative exchange between enormously diverse peoples and cultures. Share the prosperity by providing the more open business, investment and exchange opportunities to play in open economies with relaxed restricted boundaries. From ancient to middle and from mi…

The geography and geopolitics of the renminbi: a regional key currency in Asia

May 2018, Volume 94, Number 3
CHATHAM HOUSE
Masanori HasegThis article examines the potential for and geopolitical implications of the renminbi (RMB) emerging as an Asian key currency. *Most analysts assume that for the RMB to become a dominant international currency, China must implement full-scale financial liberalization.* However, this might not hold true in Asia, even if it does on the global level. China could enhance the RMB’s role as a store of value and reduce the RMB’s weakness in liquidity. Additionally, if three conditions are met almost contemporaneously, the RMB is very likely to become a regional key currency (RKC) in Asia—even without full-scale liberalization—within the next ten to twenty years. These conditions are: moderate diplomacy by China, continuing economic growth in China and new economic distress in the United States. The potential that these conditions can all be met is not necessarily low.✔ If the RMB did become an RKC in Asia, it would have significant …

The clouds gathering around China's Belt and Road

China’s President Xi Jinping promises that his Belt and Road Initiative, a sweeping vision to put China at the center of the global economy through new infrastructure, trade deals and other connections, was a “plan in the sunshine.”But make no mistake, the BRI’s outlook is darkening. Critics — including some of Beijing’s actual and potential partners — are raising concerns about transparency, debt sustainability and usefulness, as well as questioning China’s underlying strategic aims.Blowback from the BRI’s aggressive expansion can be seen in Malaysia’s recent general election. The winner, Mahathir Mohamad, criticized Chinese projects for raising Malaysia’s debt without delivering local benefits. He has promised to reexamine his predecessor’s deals and renegotiate them if necessary. That will be difficult in practice, but the election suggests that skepticism of the BRI is spreading.The questions about Beijing’s intentions are not new, but recent developments suggest they are deepenin…