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Showing posts from January 24, 2020

How China's reaction to protests jeopardizes Hong Kong's status

Financial hub at risk How China's reaction to protests jeopardizes Hong Kong's status by  Max J. Zenglein  and  Maximilian Kärnfelt Download as PDF 3.91 MB Main findings and conclusions Hong Kong's position as a financial hub rests on the city’s high degree of autonomy.  The city’s Special Administrative Region status has given Hong Kong the autonomy to fulfill the institutional requirements of an international finance and trading hub. Hong Kong’s freedoms, primarily the rule of law and a lack of capital controls, are essential for China to satisfy its growing appetite for international capital. Hong Kong is a vital gateway connecting China with global financial markets.  The city has no real domestic competitors for this role, despite the growing importance of China’s financial centers. Hong Kong provides access to foreign currency and has a crucial role in integrating China’s financial system with global markets. Alternative offshore centers in Macau, Singapore or London

Belt and Road Initiative: What They're Saying

PETER MUTHARIKA President of Malawi Speaking at the School of Oriental and African Studies in London " What we are seeing is, in a positive sense, a new scramble for Africa. People now realize that Africa is no longer a burden but the continent can be engaged for mutual benefit. But we need to negotiate terms and conditions that work for the people, at the same time realizing that investors are not charities [and] they need to make profit. " EU CHAMBER OF COMMERCE IN CHINA Recently published report on European involvement in the Belt and Road " One of the most notable aspects about BRI-related projects is that they are rarely transparent. Nearly all [European Chamber members] say that they were brought into projects by either Chinese business partners or the government. " ROBERT EVAN ELLIS Policy Planning Staff, U.S. Department of State iNews Cayman  article on Chinese engagement in Latin America " Governments in the [Caribbean] region must avoid the temptation

EUROPE IN THE FACE OF US-CHINA RIVALRY

23 JAN 2020 - 12:00  DOWNLOAD PUBLICATION  (PDF)   This report  Europe in the Face of US-China Rivalry  published by The European Think-tank Network on China (ETNC) on 23 January 2020  contains 18 country chapters, all from EU member states, and a further one focused on the EU’s perspective on Europe’s difficult balancing act between the US, a long-term strategic and economic partner, and China, the EU’s second most important market and, probably, the next economic superpower.  Frans-Paul van der Putten and Monika Sie Dhian Ho contributed the chapter  on the Netherlands and US-Chinese tension (p.115). The Netherlands and US-Chinese tension: Aiming to avoid painful dilemmas Economically the Netherlands is the most globalised country in the EU. As a result, it feels the effects of the US-Chinese trade conflict and the trend towards the decoupling of regional economic blocs at an early stage. In response to the US-China tensions, the Dutch government tends to keep a low profile. It is not

China's Growing Power: A Potential Response From the Anglosphere

TheNewslense.com Will Peyton  2020/01/25 © Shutterstock Will Peyton Will Peyton has recently completed a PhD in Chinese studies at the Australian National University and has been based in Taipei as a visiting scholar at the Center for Chinese Studies in the National Central Library. What you need to know One of the world's most dominant intelligence networks might be looking to expand in response to China's global rise to power. Beijing has been eagerly showing its political and economic power in the last decade. Whether through the Belt and Road Initiative (BRI), the United Front Work Department's activities in Australia and New Zealand, or Huawei's attempts to build 5G infrastructure in the United Kingdom, there is a broad consensus now that China is becoming less of a regional strategic concern and more of a global one. In response to this geopolitical shift, it is likely that Western countries are going to have to step up their cooperation efforts to keep up with Ch

Editorial: Conflict over CPEC

Editorial  TheNews.com.pk January 25, 2020 Washington and Beijing are continuing the increasingly bitter war of words over the China-Pakistan Economic Corridor . While Pakistan has defended the corridor as a possible game-changer for both... Washington and Beijing are continuing the increasingly bitter war of words over the China-Pakistan Economic Corridor (CPEC). While Pakistan has defended the corridor as a possible game-changer for both economics and politics in the region, Alice Wells, head of central and South Asian affairs in the US State Department has once again lashed out against the corridor on her recent visit to Pakistan. She used essentially the same terminology as she had employed in November last year, saying that Chinese firms involved in building the railways which are a part of the elaborate project have been blacklisted by the World Bank, that Chinese debt on Pakistan is being increased dramatically by the project which would benefit only China and that there is corr

Why the New Silk Roads are a ‘threat’ to US bloc

Modern day traders on the ancient Silk Road track in Central Asia. Photo: Facebook Asia Times The Middle East is the key to wide-ranging, economic, interlinked integration, and peace By PEPE ESCOBAR Under the cascading roar of the 24/7 news cycle cum Twitter eruptions, it’s easy for most of the West, especially the US, to forget the basics about the interaction of Eurasia with its western peninsula, Europe. Asia and Europe have been trading goods and ideas since at least 3,500 BC. Historically, the flux may have suffered some occasional bumps – for instance, with the irruption of 5th-century nomad horsemen in the Eurasian plains. But it was essentially steady up to the end of the 15 th  century. We can essentially describe it as a millennium-old axis – from Greece to Persia, from the Roman empire to China. A land route with myriad ramifications, through Central Asia, Afghanistan, Iran and Turkey, linking India and China to the Eastern Mediterranean and the Black Sea, ended up coalescin

Through Eritrea, China Quietly Makes Inroads Near the Red Sea

TheDiplomat.com China is finding an eager partner in Eritrea, an autocratic state generally overlooked entirely by world powers. By  Austin Bodetti January 25, 2020 Eritrean Foreign Minister Osman Saleh Mohammed, left, gestures to his Chinese counterpart Wang Yi before a meeting at Diaoyutai State Guesthouse in Beijing, May 6, 2019. Credit: Thomas Peter/Pool Photo via AP ADVERTISEMENT As Iran continues to dominate headlines across the Western world, China’s far quieter quest to influence Africa and Asia has escaped the news media’s attention of late. The many examples of this Chinese strategy include the world power’s relationship with Eritrea, a country on the Horn of Africa that rarely features in geopolitical discussions. Nonetheless, officials in Beijing intend to turn what some analysts still label “ Africa’s North Korea ” into a centerpiece of the Belt and Road Initiative (BRI), China’s costly economic megaproject inspired by the Silk Road. In May 2019, Eritrean Foreign Minister