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Showing posts from January 30, 2019

CHINA: BUSINESS AND TECH, POLITICS

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BUSINESS AND TECH:Economic gloom and doom
China’s gloomy companies are slashing profit forecasts / Bloomberg (porous paywall)
“Chinese executives are sounding warning bells over the world's second-largest economy.”
Alibaba revenue grows at weakest pace in three years as slowing China bites / Channel NewsAsia
Chinese exporters report sluggish start to year / FT (paywall)
Canon sees 5.2 percent dip in 2019 profit on China economic slowdown / Reuters via Channel NewsAsia
Ford’s China joint venture suffers 54% fall in sales / FT (paywall)Electric cars: NIO still raising money
China’s Tesla is burning through more cash than rubber / WSJ (paywall)
“NIO Inc., China’s answer to Tesla, doesn’t seem to have got a lot of mileage from its recent $1 billion initial public offering.”
Chinese EV carmaker NIO aims to raise US$650 million via convertible bond / Reuters
NIO “launched a $650 million five-year convertible bond on Wednesday, aiming to use the proceeds to fund expansion. The Shang…

China plans first seaborne rocket launch in mid-2019

A Long March-11 rocket takes off from Jiuquan Satellite Launch Centre in Gansu province, China, on Dec 22, 2018.PHOTO: REUTERSPUBLISHEDJAN 30, 2019, 4:33 PM SGTBEIJING (XINHUA) - China's first seaborne rocket launch is scheduled for mid-2019, with a Long March-11 carrier rocket set to blast off in the Yellow Sea, said Mr Jin Xin, deputy chief commander of the rocket.China has achieved a breakthrough in the key technologies for seaborne launches, Mr Jin, of the China Academy of Launch Vehicle Technology, told a press conference by the China Aerospace Science and Technology Corporation on Tuesday (Jan 29).The Long March-11, with a length of 20.8m and a takeoff weight of about 57.6 tonnes, is the only rocket using solid propellants among China's new generation carrier rockets. It has a relatively simple structure and can be launched in a short time.After leaving port, the rocket could be launched within a week, said Mr Jin.The rocket can carry a payload of up to 350kg to a sun-sy…

Too Much Risk or Not Enough? New Development Finance Agencies in China and the United States

Too Much Risk or Not Enough? New Development Finance Agencies in China and the United StatesBy Scott Wingo

The past year has seen significant shake-ups to the development finance regimes of the world’s two largest economies. In April 2018, China officially established its new China International Development Cooperation Agency (CIDCA). Not to be outdone, the United States Congress in October 2018 passed the Better Utilization of Investment Leading to Development Act, better known as the BUILD Act. The BUILD Act established the United States International Development Finance Corporation (USIDFC), which will replace and expand upon the Overseas Private Investment Corporation (OPIC). At first glance, it might be easy enough to dismiss these two agencies as roughly parallel developments in a tit-for-tat competition between the United States and China. Indeed, there is an undeniable element of Sino-American competition at play here, especially given the current state of overall bilateral rel…

High time for Baloch and Pashtun to unite against Pakistan

Bashir Zaib BalochFrom news desk of *(The Balochistan Post)* brought to you by *(Current Balochistan)*“Pakistan with the connivance of China is working to bring their approved men in Afghan government at the pretext of peace talks to counter Indian interests and the forces that are against Chinese Imperialism,” said Bashir Zaib Baloch.According to the details, prominent Baloch leader, Bashir Zaib Baloch released a statement on Wednesday commenting on the on-going Afghan peace talks in Doha, Qatar.He said Pakistan with the connivance of China is working to bring their approved persons in Afghan government through the so-called peace talks to counter Indian interests and the forces that are against Chinese Imperialism.“Pakistan is once again active in the affairs of Afghanistan. Pakistani ISI was there in the form of Mujahideen and Taliban for American interests and now they are active again for Chinese military and economic interests in the form of facilitators for Afghan peace. They w…

UAE government should present Rashid Baloch to its own courts to ensure all needs and demands of justice. BNM

Press relesed2019-01-30The Central spokesman of Baloch National Movement has criticized the United Arab Emirates (UAE) government for the arrest of Rashid Baloch, without any criminal charge  against him. He says his arrest is, “violation of human rights”.He said that in past Baloch has a deep rooted historical relationship with Arab nations for centuries when Balochistan was a free country. Baloch have a big population in UAE, where they pay their services in various departments.He stated, today Baloch nation is colonized and enduring the atrocities of Pakistan, but it does not mean that Baloch have lost their national identity, rather a struggle against this atrocities made our history, culture and traditions more vibrant and strong. In this hard time instead of being charmed  by Pakistani occupation, they should read the ground realities and set an example of humanity. The spokesman stated that Rashid Baloch is aC human rights defender and a social media activist. Pakistan has alre…

Chinese Digital Ecosystems Go Abroad: Myanmar and the Diffusion of Chinese Smartphones

Written On 18 January 2019. Posted In ArticleWindow On Asia.Author: Elisa OregliaMade In China: To The Soil October–December 2018Shan state, in northeastern Myanmar, is an important artery of commerce, connecting the country with its most important trading partner, China. Natural resources, agricultural products, and manufactured goods are carried across the border through formal channels and through the informal economy in a variety of ways. Recently, there has been a new addition to this already complex kaleidoscope: WeChat. The Chinese instant messaging/social media app that has become the staple of smartphone use in China—with over a billion monthly active users in 2018 (Statista 2018)—is finding new, enthusiastic adopters among Shan state traders, who have figured out creative ways of adjusting functions aimed at the Chinese market for their own purposes. Take WePay for example—one of the most popular features on WeChat, this built-in payment feature that makes purchasing and t…

Saudi-UAE Aid Puts Pakistan-Iran Relations on the Spot

By Dr. James M. DorseyJanuary 29, 2019Chabahar Port at night, photo via Wikipedia
BESA Center Perspectives Paper No. 1,076, January 29, 2019EXECUTIVE SUMMARY: Pakistan is stepping through a minefield as it concludes agreements on investment, balance of payments support, and delayed payment oil deliveries with Saudi Arabia and the United Arab Emirates worth $13 billion. These deals are likely to spawn growing distrust in its relations with neighboring Iran.Next month, Pakistani PM Imran Khan expects to sign a memorandum of understanding with Saudi Arabia on a framework for $10 billion in Saudi investment, primarily in oil refining, petrochemicals, renewable energy, and mining. The signing is to take place during a planned visit to Pakistan by Saudi Crown Prince Muhammad bin Salman.The memorandum follows the kingdom’s rewarding of Khan for his attendance at a foreign investors summit in Riyadh in October that was shunned by numerous CEOs of Western financial institutions, tech entreprene…

Xi Jinping calls for more self-reliance

TRIVIUM CHINAWhat the Big Man is thinking: On December 31, Xi Jinping delivered his annual New Year’s address to the nation. Xi mentioned the need for China to be “self-reliant” (CGTN): “Through the years, the Chinese people have been self-reliant and worked diligently to create Chinese miracles that the world has marveled at.” “And now, looking forward, despite the complexities and difficulties we may face on the road ahead, we shall always closely rely on the people and stick to self-reliance and hard work.”Xi has stressed “self-reliance” repeatedly since April 2018, often in the context of needing to be self-sufficient in “core technologies.” The self-reliance push was initiated in the wake of the US banning exports of critical technologies to Chinese telecommunications giant ZTE, a move that crippled the company (but was later reversed on the orders of President Trump). The ZTE incident exposed just how reliant China is on foreign technology. On the one hand, the self-reliance pu…