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Showing posts from November 16, 2020

Belt and Road International Regatta 2020 set sail in Beihai

NEWS PROVIDED BY Mitime Sports  Nov 16, 2020, 04:22 ET BEIHAI,  China ,  Nov. 16, 2020  /PRNewswire/ -- Belt and Road International Regatta 2020 , hosted by Mitime Sports,  was held in Beihai,  Guangxi . A total of 16 sailing teams from  mainland   China ,  the United States ,  Japan ,  Hong Kong , and  Taiwan ,  all of whom are representing the highest level of J80 Class in  China , participated in the regatta. Belt and Road International Regatta 2020 The 8-round regatta lasted three days, including inshore race at Yintan Beach and offshore race from  Yintan to Weizhou Island. It was the first regatta to link the two extraordinary scenic spots in Beihai. After three days of competition, Team He Qi Ren Jia from  Qingdao  won the championship. This is the second year of  Belt and Road International Regatta being held in Beihai. This year, Optimistic Class has been added. For a wider range of promotion of sailing sport, Optimistic Class was newly added to the regatta, and was welcomed by

IBA 2020: Poor countries should take legal advice about Chinese investment

By  Jemma Slingo 16 November 2020 Lawyers from developed countries should warn developing nations about the potential consequences of an ambitious investment project run by China, the International Bar Association’s annual conference heard today. Speaking at a session on the 'Belt and Road Initiative’  – a massive international investment project established by the Chinese government in 2013 – legal consultancy Hook Tangaza said lawyers should alert countries to the potential effects of Chinese investment. Alison Hook, co-founder and director of Hook Tangaza, said: ‘Lawyers, if mobilised, can play an important role in helping to ensure that risks are highlighted; that governments are aware before they commit to some of these potential issues…There needs to be some engagement from countries elsewhere in order to ensure China isn’t dominating everything.’ Hook said countries risk entering arrangements that they cannot afford, and could be signing up to more pollution.  ADVERTISEMENT

RCEP: A new trade agreement that will shape global economics and politics

Peter A. Petri  and  Michael Plummer Monday, November 16, 2020 On November 15, 2020, 15 countries — members of the Association of Southeast Asian Nations (ASEAN) and five regional partners — signed the Regional Comprehensive Economic Partnership (RCEP), arguably the largest free trade agreement in history. RCEP and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which concluded in 2018 and is also dominated by East Asian members, are the only major multilateral free trade agreements signed in the Trump era. India and the United States were to be members of RCEP and the CPTPP, respectively, but withdrew under the Modi and Trump governments. As the agreements are now configured (see Figure 1), they forcefully stimulate  intra- East Asian integration around China and Japan. This is partly the result of U.S. policies. The United States needs to rebalance its economic and security strategies to advance not only its economic interests, but also its security

China and Latin America must use BRI to deepen cooperation

By Yue Yunxia | China Daily | Updated: 2020-11-17 08:04 Proposed in 2013, the Belt and Road Initiative aims to build trade and infrastructure networks connecting Asia with Europe and Africa on and beyond the ancient Silk Road routes. [Photo/Sipa] As members of BRICS, China and Brazil need to deepen cooperation to optimize the opportunities they share and meet the common challenges they face. The two countries should also help elevate China-Latin America cooperation to a higher level. Cooperation between China and Latin America has been deepening through the China-proposed Belt and Road Initiative, which comprises a five-pronged approach-policy coordination, infrastructure connectivity, unimpeded trade, financial integration, and enhancement of people-to-people ties. So China and Latin America can further expand cooperation through the Belt and Road Initiative to help the world to contain the COVID-19 pandemic and reboot the global economy, leading to normal, sustainable economic develo

Chinese media says RCEP realizes Xi’s ‘Asia dream’

State media trumpet trade pact's passage as proof of China's leadership and America's decline in the region By  FRANK CHEN NOVEMBER 16, 2020 Chinese leader Xi Jinping has a dream. Image: Getty/AFP The Regional Comprehensive Economic Partnership (RCEP) trade pact pooling China, Japan, South Korea, Australia, New Zealand as well as ten ASEAN members started as an ASEAN integration initiative and finished eight years later as a China-led mega-strategy. Chinese Premier Li Keqiang, at a virtual meeting of the pact’s 15 signatories on Sunday, lavished superlatives on the “spirit of Asia” and multilateralism in his speech at the RCEP’s online signing ceremony. The free trade pact, now the world’s largest with China firmly at its center, will cover nearly a third of the world’s population and annual economic output and notably excludes the United States and European members. State news agency Xinhua acknowledged in a feature report on the RCEP’s negotiations that Beijing had at one

Editorial: PM in Balochistan

EDITORIAL BECAUSE Balochistan is seen as relatively ‘far’ from the national political mainstream in this country, whenever high officials visit the province expectations are high. During Prime Minister Imran Khan’s trip to Balochistan last week, a number of promises were made to the people of Pakistan’s geographically largest but also its most underdeveloped province. Mr Khan rightly pointed out that to ensure a strong country, all federating units must taste the fruits of development. Unfortunately, despite its mineral wealth Balochistan has failed to see accompanying development over the decades, which has played a large part in fuelling alienation. Speaking in Kech district, Mr Khan reiterated that under the CPEC umbrella, the “government is giving all attention to speedy development of” Balochistan, while urging the province’s youth to focus on their education. Mr Khan also laid the foundations for a number of infrastructure and social projects in the province during his visit. The

China Silent on Pakistan's Allegations Against India on Terrorism, Calls for Effective Security for CPEC

China said it opposes all forms of terrorism and calls on the international community, especially regional countries, to cooperate in fighting terrorism and safeguard collective security. File photo of India and China flags PTI BEIJING UPDATED ON: NOVEMBER 16, 2020, 18:45 IST FOLLOW US ON: China on Monday evaded a direct response to Pakistan's allegations that India was behind some of the terror attacks in that country, as Beijing put the onus of providing effective security for the USD 60 billion China Pakistan Economic Corridor (CPEC) on Islamabad. Chinese Foreign Ministry spokesman Zhao Lijian told a media briefing here that China opposes all forms of terrorism and calls on the international community, especially regional countries, to cooperate in fighting terrorism and safeguard collective security. The CPEC connecting China's Xinjiang province to Pakistan's strategic Gwadar port in Balochistan is an important pioneering project of the Belt and Road (BRI) initiative,&q

China-Pakistan CPEC project has long road ahead as Beijing puts hold on projects

Pakistan Prime Minister Imran Khan, whose government is criticised for being under military control, is also facing flak in his country for not prioritising and expediting big-ticket Chinese infrastructure investments, Asia Times reported. Updated: Nov 17, 2020, 06:18 IST By Asian News International | Posted by Shivani Kumar The motorway and railway modernisation plans have had almost no progress in the last five months.(Bloomberg) The Covid-19 pandemic, ongoing political unrest and foreign debt limits have resulted in a slowing of Chinese investments in Pakistan as Beijing has put a hold on projects that are part of the USD 62 billion China-Pakistan Economic Corridor (CPEC). Pakistan Prime Minister Imran Khan, whose government is criticised for being under military control, is also facing flak in his country for not prioritising and expediting big-ticket Chinese infrastructure investments, Asia Times reported. In 2018, Khan had put on hold several CPEC projects suspecting corruption b

Coup For China: World’s Largest Free Trade Agreement Signed By 15 Asia-Pacific Countries

November 15, 2020     DP2020 UPDATED: Fifteen Asia-Pacific countries on Sunday signed the world’s biggest free trade deal, seen as a huge coup for China in extending its influence. India was a notable absentee during Sunday’s virtual signing of the deal. It did take 8 years of hard bargaining, and India only dropped out recently,” an Asia-Pacific based analyst specializing in US-China relations and South Asia tells DesPardes “Still (it’s) a major advance”, he says. The Regional Comprehensive Economic Partnership (RCEP) includes 10 Southeast Asian economies along with China, Japan, South Korea, New Zealand and Australia, with members accounting for around 30 per cent of global gross domestic product. The 15 Asia-Pacific countries are: China, Japan, South Korea, New Zealand and Australia plus the 10-nation Association of Southeast Asian Nations (Asean), which include Indonesia, Thailand, Singapore, Malaysia, Philippines, Vietnam, Brunei, Cambodia, Myanmar and Laos. It “solidifies China’s

Pakistan to pacify Belt and Road opposition with more projects

BELT AND ROAD Funding an obstacle for cash-strapped Islamabad amid halt in IMF aid Pakistani Prime Minister Imran Khan has announced a development package for southern Balochistan Province, hoping to create 120,000 jobs.   © Reuters ADNAN AAMIR, Contributing writer November 16, 2020 16:30 JS KARACHI -- To quell stiff opposition to the China-Pakistan Economic Corridor, or CPEC, a linchpin of Chinese President Xi Jinping's Belt and Road Initiative, Pakistani Prime Minister Imran Khan's government is launching a big development package for southern Balochistan Province in the country's southwest. Khan announced the package during a visit to Turbat, 160 km northeast of the port city Gwadar, a key staging point for the economic corridor. The Prime Minister's Accelerated Development Package for South Balochistan, as it is called, comprises projects worth tens of billions of Pakistani rupees. The package aims to create 120,000 jobs, build 1,100 km of highways, establish 210 he