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Showing posts from March 24, 2019

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…

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…