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Showing posts from June 28, 2018

Singapore, China can break new ground through Belt and Road: DPM Teo

BEIJING: Deputy Prime Minister Teo Chee Hean has said that Singapore and China can break new ground through cooperation on the Belt and Road Initiative. He was speaking in an interview with the Chinese Xinhua News Agency ahead of a nine-day visit to China which begins on Thursday (Jun 28).“Singapore and China have enjoyed a strong friendship for more than 40 years, through mutually beneficial cooperation,” said Mr Teo. He also noted that the relationship has progressed, reflecting new needs and opportunities as both countries developed. “On this firm foundation, I believe we can break new ground through cooperation on the Belt and Road Initiative and take our relations to greater heights,” he added.SINGAPORE’S ROLE IN THE BELT AND ROADAdvertisementChina's ambitious Belt and Road project seeks to revive the ancient Silk Road - by building infrastructure like roads, railways and ports in more than 60 countries to promote trade. Mr Teo, however, was asked about criticism that the pro…

UK businesses urged to benefit from belt and road opportunities

Minister for Trade and Export Promotion, Baroness Fairhead is leading a delegation of British businesses at the 2018 Belt and Road Summit in Hong Kong today.Published 28 June 2018From:Department for International Trade and Baroness Fairhead CBEThe summit will bring together key figures from business, government and industry to explore new projects and offers that are being developed along the Belt and Road programme.Baroness Fairhead is the first UK minister to attend and speak at the summit, which is expected to be attended by more than 3,000 people from more than 51 countries on the day.Whilst at the summit the minister will make the case for London’s financial prowess to be at the heart of the BRI. She will highlight the City’s expertise in working with the public and private sector in emerging markets. This means they are best placed to deliver the high quality services that match the needs of China and other third countries.Minister of State for the Department for International T…

Belt and Road Initiative drives Africa's integration, economic growth

ADDIS ABABA, June 28 (Xinhua) -- African officials and scholars have hailed the role of China-proposed Belt and Road Initiative in fostering connectivity, thereby accelerating integration and economic diversification on the African continent.This came on Thursday at a seminar co-organized by the Chinese Embassy in Ethiopia and the Ethiopian Foreign Relations Strategic Studies Institute in Ethiopia's capital Addis Ababa, with participation of government officials, diplomats and scholars, among others.The seminar was organized to share ideas on the initiative as well as on the upcoming Beijing summit of the Forum ofChina-Africa Cooperation (FOCAC) to be held in September.Speaking at the opening of the seminar, Chinese Ambassador to Ethiopia, Tan Jian, reiterated that the Belt and Road Initiative is a platform to promote global cooperation and common development based on win-win results.With focus on connectivity in five areas including policy, infrastructure, trade, financing, and p…

China to set up international courts to settle Belt and Road disputes

By Yang Sheng Source:Global Times

China plans to establish two international courts to resolve business and investment disputes involving the Belt and Road initiative, with experts saying the courts will be international judicial institutions designed in accordance with international rules and laws and will invite notable and authoritative legal experts and professionals from outside China to participate. The Supreme People's Court will set up the first international commercial court in Shenzhen in South China's Guangdong Province, which will deal with disputes in the 21st Century Maritime Silk Road. The second court in Xi'an, capital of Northwest China's Shaanxi Province will deal with issues on the Silk Road Economic Belt, the Xinhua News Agency reported on Wednesday, citing a notice issued by the State Council, China's cabinet.The two courts will be authorized to settle and arbitrate cross-border commercial disputes in the China-proposed Belt and Road initiative…

Will Gwadar go Hambantota way?

Khurram Hussain | June 29, 2018 3:22 am
Hambantota Port.A large number of people have once again begun asking whether Pakistan is walking in the footsteps of Sri Lanka in its growing engagement with China. The new talk has been sparked by a long article in the New York Times that, for the first time, provides details thus far unknown about how the Hambantota Port project was conceived and executed.People have long looked upon this project, which saddled Sri Lanka with debts so large that the country was forced to go to the Chinese asking for rescheduling some of the payments. The request was granted in a deal that saw China swap equity in the project for debt, effectively taking over the port and 15,000 acres of surrounding countryside on which to build an industrial zone. In effect, Sri Lanka had to cede control over strategic territory to China in return for debt relief. So, naturally, many are now asking: might the same thing happen in Pakistan in the case of Gwadar?One of the most …

How Gwadar’s CPEC development might leave its people behind

Mishele Ijaz/Updated June 28, 2018

Gwadar enjoys a strategic location on the Arabian Sea in Balochistan, accessible to South Asia, West Asia and Central Asia.In 1958, it was bought by Pakistan from Oman and since 1993 has gone through various processes to extract the potential of this port.Due to inadequate funding, political unrest and lack of proper management, in 2007 the port and its related works were handed over to the Port of Singapore Authority (PSA) on a 40-year lease.This handover, however, was not done with the approval of Balochistan’s own governor, Zulfiqar Ali Khan Magsi, who expressed his grievances towards the process for lacking transparency and ignoring local interests and concerns.He filed a petition against the Government of Pakistan, and this petition along with imminent issues of security in the region, resulted in a premature termination of the lease with PSA.Today, Gwadar is known as one of Pakistan’s rapidly growing cities and is expected to reach a population …

The Pace of Education in Balochistan

Miskaan BalochThe Balochistan PostWhen an occupier wants to strengthen its occupation and influence on a territory, the very first thing they do is to control over the minds of youth through different tactics of oppression. The most common of such tactics are to attack and disrupt educational institutions, and empower the criminals in the occupied area.Many religious extremist groups, which are sponsored by the state, have attacked educational institutions in Balochistan.In Kech, state sponsored Islamic extremists burnt a library of a private school, destroying more than 1500 books. After the attack the extremists proudly stated that “our honor does not let us allow girls in co-education setup, therefore, we will not let any institutions to educate girls”. This illogical statement became the reason of immediate shut down of the school leaving behind two thousand students deprived of education.In another incident, Islamic extremists attacked a bus, which was carrying fremale students o…

Made In China 2025: The Domestic Tech Plan That Sparked An International Backlash

Made In China 2025: The Domestic Tech Plan That Sparked An International BacklashTHE EDITORSJUNE 28, 20180Quick facts on China’s plan to rule the high-tech worldMade in China 2025 (中国制造 2025 zhōngguózhìzào èr líng èr wǔ) is a strategic plan announced by Chinese Premier Li Keqiang in May 2015, aimed at increasing China’s competitiveness in cutting-edge industries and moving the country’s manufactured goods up the value chain.China wants to cut its reliance on foreign technology, and a core goal of Made in China 2025 is to increase the domestic content of core materials to 40 percent by 2020 and to 70 percent by 2025.Chinese officials argue that Made in China 2025 is in line with World Trade Organization (WTO) rules, since the plan is technically open to foreign participation, transparent, and defined by “instructive” rather than mandatory targets.American officials and many foreign companies see the initiative as predatory, and rail against the Made in China 2025 plan because of long-s…

SupChina: China news update

.Today we have three things for you at the top, followed by the usual roundup of links.—Jeremy Goldkorn, Editor-in-Chief1. Yuan drops as Trump softens toneWe’ve got your doom and gloom and boom news from various fronts of the U.S.-China trade war today: currency, tech and investment, Chinese market opening, and the effects on stock markets.CurrencyCNBC reports that China's currency hit a new six-month low against the dollar, spurring talk that trade wars could turn into a currency war.China could devalue the the yuan,making Chinese goods cheaper in the U.S. and markets the U.S. sells to, despite Trump’s tariffs. Some wonder if China has intentionally allowed the yuan to deflate this week. However, CNBC says that “analysts doubt that China would do that intentionally.”I don’t envy China’s central bankersand financial planners right now — CNN reported on Sunday that “the Chinese government is dealing with an emerging trade war with the United States and concerns its economy is weake…