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Showing posts from April 8, 2019

20pc of current CPEC projects using Chinese loans: Beijing

News DeskAPRIL 9, 2019The Chinese foreign ministry spokesperson on Monday said that less than 20 percent of the current projects under China-Pakistan Economic Corridor (CPEC) are using Chinese loans, and more than 80 percent of those have been directly invested by China or are using Chinese grants.“Only less than 20 percent of current CPEC projects are using Chinese loans and more than 80 percent of them are directly invested by China or are using Chinese grants,” Lu Kang said during his regular press briefing here.Rejecting an impression that Chinese loans are adding to Pakistan’s debt problems, he observed that carrying out major projects with the international financing is a global practice and it is also an effective approach for the developing countries to break the financial bottleneck and expedite their economic growth. He said the projects being completed under the CPEC, a flagship project of Belt and Road Initiative (BRI), have not added to Pakistan’s debt issue, rather those…

China's Belt and Road Initiative important for Singapore and shipping

Chan Chun Sing, Singapore's minister for trade and industryChina's Belt and Road Initiative (BRI) is anticipated to create demand growth for shipping and Singapore is keen to continue playing an important role in the ambitious development strategy, according to Singapore’s minister for trade and industry Chan Chun Sing.Chan was speaking as a panellist at the 13th Singapore Maritime Lecture on Monday, held as part of the annual Singapore Maritime Week.“For China, the Belt and Road Initiative is its way to secure its supply and distribution chains as consumerism increases, and infrastructure is needed to meet this demand. Such developments will create growth opportunities for the shipping industry,” Chan told the lecture audience.Managing director of Pacific International Lines (PIL) SS Teo, who is also on the board of China Cosco Shipping and chairman of the Singapore Business Federation, recalled that Singapore was one of the first few countries to respond positively to the BR…

India rejects China's invite to attend Belt and Road Initiative meet for the second time

India along with the US and several other countries have been highlighting the concerns over the BRI projects, leaving a number of smaller countries in debt traps
India rejects China's invite to attend Belt and Road Initiative meet for the second timeIndia has rejected China's invitation to attend the Belt and Road Initiative (BRI) meeting, which is scheduled to take place later this month. This is the second time, India has turned down official invite from China to attend its BRI forum. The first time, India boycotted the meeting was in the year 2017.This year in March, the Chinese authorities sent an official invitation to Ministry of External Affairs (MEA), but the Indian government turned down the invite, owing to its concern over China-Pakistan Economic Corridor (CPEC) project.The Indian government has resolutely maintained that Beiing's BRI project undermines India's sovereignty in the form of CPEC which runs through the disputed territory of Pakistan occupied Kas…

Pakistan Says India Planning Another Military Attack

April 07, 2019 6:03 AMUPDATE April 07, 2019 12:44 PMAyaz GulFILE - Pakistani Air Force F-16 fighter jets fly in formation during a military parade to mark Pakistan National Day, in Islamabad, Pakistan, March 23, 2019.ShareAnjana Pasricha contributed to this report from New Delhi.ISLAMABAD — Pakistan warned Sunday that rival India is planning to launch a fresh military assault against the country, calling for the international community’s urgent diplomatic intervention to deter New Delhi from endangering regional peace and stability.“We have reliable intelligence that India is planning and preparing to carry out another military aggression against Pakistan. This action could possibly take place between the 16th to the 20th of April.” Foreign Minister Shah Mehmood Qureshi said.He told reporters in the southern city of Multan that Pakistan has formally shared the “authentic information” and conveyed its “apprehensions” to diplomats in Islamabad representing the five permanent member coun…

China's Digital Rise: Challenges for Europe

China's efforts at home and abroad to become a global leader in digital technologies is a challenge for Europe. The ambitions of telecommunications giant Huawei to participate in building European 5G networks are just one example of many, say MERICS researchers Kristin Shi-Kupferand Mareike Ohlberg, authors of a new MERICS study, "China's digital rise. Challenges for Europe.”Click here to download this MERICS Paper on China as PDF or read the Executive Summary below.Executive SummaryChina is making headway in achieving global leadership in 5G, AI and quantum computing and in other digital and disruptive technologiesThe Chinese Communist Party (CCP) is pursuing a comprehensive digital strategy encompassing the search for new economic growth drivers, cyber governance and global power projectionSelected leading Chinese ICT companies are co-shaping the global digital architectureWith its proactive approach to standardization, China sets operational rules for foreign businesse…