Tag: China

<strong>Meltdown in real estate sector exposes the Achilles heel of Chinese economy</strong>
6Feb By Mike TrudellNo Comments
China

Meltdown in real estate sector exposes the Achilles heel of Chinese economy

With a Hong Kong court ordering on January 29, 2024, the real estate giant of China Evergrande to undergo liquidation following a failed effort to restructure $300 billion in debt owed to banks and bondholders, it is clear that the crisis in the real estate sector in China is far from over. With the growth rate in the Gross Domestic Product in China restricted to only 5.2 percent in 2023 amid mounting concerns, waning investor confidence and a protracted property market slump, it is evident that there is no chance of an immediate recovery either in the real estate sector in China or of the Chinese economy. In this situation, the assertion made by U.S. Secretary of State Antony Blinken in Davos on January 17 that India’s is an “extraordinary success story’ will not be music to the ears ...
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<strong>The Reality of China’s Investments in Developing Nations</strong>
9Jan By Mike TrudellNo Comments
China

The Reality of China’s Investments in Developing Nations

In the complex landscape of global geopolitics, the involvement of major powers in the development of smaller nations has often been a double-edged sword. China's increasing presence in countries like the Maldives, Africa, Nepal, Sri Lanka, and others has sparked debates about the nature and consequences of its investments. Critics argue that China's strategy involves leveraging economic opportunities to extend its influence, creating a debt trap that may ultimately lead these nations to financial instability and ultimate bankruptcy. Therefore, it is important to delve into the unfolding narratives in the Maldives and explore parallels with South Asian and African nations, examining the implications of China's predatory economic engagement. The Maldives, often glamorized as a picturesq...
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<strong>Unmasking the Chinese Loans: China’s BRI Debt Crisis and Imperatives for 2024</strong>
2Jan By Joe RodriguezNo Comments
China

Unmasking the Chinese Loans: China’s BRI Debt Crisis and Imperatives for 2024

In the realm of global economic dynamics, China has emerged as the preeminent bilateral lender, wielding influence through its ambitious Belt and Road Initiative (BRI). However, behind the façade of economic cooperation lies a landscape rife with challenges, particularly concerning the debt distress faced by some BRI borrowers. Therefore, it is important to critically delve and understand the labyrinth of issues surrounding China's lending practices, exposing the perils and policy choices that will determine its ability to support debtors and avoid entrapment in a web of unpaid debts. China's audacious vision for the Belt and Road Initiative has been met with skepticism and criticism, with the United States expressing justified concerns about its potential to undermine values and inter...
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Taiwan reports another incursion by Chinese warplane: Report
4Apr By Joe RodriguezNo Comments
Asia

Taiwan reports another incursion by Chinese warplane: Report

In yet another instance of Chinese aggression in the South China Sea, a Chinese warplane entered the Taiwanese southwest air defence identification zone (ADIZ) on Saturday.According to a chart provided by Taiwan Defence Ministry, the aircraft flew into the airspace between Taiwan and the Dongsha Islands in the South China Sea, which are controlled by Taiwan.“In response to the incursion, Taiwan’s Air Force scrambled planes to monitor the Chinese aircraft, issued radio warnings and mobilized air defence assets until the Chinese aircraft left the ADIZ,” the ministry added.Air defence identification zones are early warning systems that help countries detect incursions into their airspace. Any aircraft entering such an area is supposed to report its route and purpose to the “host” nation, thou...
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H&M forced to shut 20 stores in China over remarks on Xinjiang cotton: Report
4Apr By Joe RodriguezNo Comments
Asia

H&M forced to shut 20 stores in China over remarks on Xinjiang cotton: Report

Soon after giving out a statement on forced labour in Xinjiang, Swedish fashion retailer H&M was forced to close 20 stores in China.Recently, several companies including H&M and Nike are facing pressure after they said that they were concerned about allegations that forced labour has been used to produce cotton in Xinjiang.The ruling Communist Party lashed out at H&M, Nike and other shoe and clothing brands last week after the United States, the European Union, Britain and Canada imposed travel and financial sanctions on officials accused of abuses in Xinjiang in China’s northwest.H&M has shut down about 20 of its 500 outlets in the communist country. Some of the closures might have been the result of Chinese landlords forcing out the shops, while local consumers vowed to b...
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Biden administration declares Chinese actions in Xinjiang as ‘genocide’
1Apr By Mike TrudellNo Comments
World

Biden administration declares Chinese actions in Xinjiang as ‘genocide’

US President Joe Biden’s administration on Tuesday declared Chinese actions against the Uyghur Muslims and other ethnic and religious minority groups in Xinjiang as ‘genocide’.The US Department of State, in a 2020 report on Human rights practices, said: “Genocide and crimes against humanity occurred during the year against the predominantly Muslim Uyghurs and other ethnic and religious minority groups in Xinjiang”.Chinese authorities’ genocide in Xinjiang was first officially declared by Michael Pompeo during the waning days of the Donald Trump administration. Now, Antony Blinken affirmed Pompeo’s assessment during his confirmation hearing, but the word’s inclusion into Tuesday’s report formalizes the outlook as an official U.S. government assessment.The State Department said the crime inc...
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China used Twitter, Facebook more than ever for Xinjiang Propaganda in 2020: Research
1Apr By Joe RodriguezNo Comments
Asia

China used Twitter, Facebook more than ever for Xinjiang Propaganda in 2020: Research

A new research by the Australian Strategic Policy Institute has said that the Chinese government’s propaganda activity on Twitter and Facebook over its policies toward ethnic minorities in Xinjiang reached an all-time high in 2020, as Beijing sought to portray its approach, including use of widespread internment camps, as beneficial to the remote northwestern region.According to the research, the frequency of tweets about Xinjiang from Chinese state media and diplomatic Twitter accounts increased to an average of nearly 500 tweets per month in 2020, up from about 280 per month in 2019.“Since early 2020, there’s been a stark increase in the Chinese Government and state media’s use of US social media networks to push alternative narratives and disinformation about the situation in Xinjiang. ...
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Chinese consul-general calls Canada ‘running dog’ of US
29Mar By Mike TrudellNo Comments
World

Chinese consul-general calls Canada ‘running dog’ of US

Alleging that the Canadian Prime Minister Justin Trudeau has ruined the friendly ties between China and Canada, Li Yang, the Chinese Consul General in Rio de Janeiro, has said that Trudeau has turned Canada into a “running dog of the United States”.“Boy, your greatest achievement is to have ruined the friendly relations between China and Canada, and have turned Canada into a running dog of the US. Spendthrift!!!” Li Yang tweeted on Sunday.His remark comes a day after China had announced sanctions against two American religious-rights officials and a Canadian MP in response to western countries’ sanctions on Beijing over the issue of human rights abuses in Xinjiang province.However, the United States condemned China’s sanctions and said that Beijing’s attempt to silence criticism of human r...
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Chinese tech firms face US ultimatum over issue of American accounting standards
27Mar By Mike TrudellNo Comments
World

Chinese tech firms face US ultimatum over issue of American accounting standards

Chinese tech firms in the United States could be forced to leave the US market after the country’s Securities and Exchange Commission (SEC) started implementing a law to remove foreign firms that did not comply with local accounting standards.Recently, the SEC, which regulates the US stock markets, amended the Holding Foreign Companies Accountable Act to remove from the US stock markets foreign firms that did not comply with local accounting standards.“The SEC has adopted interim final amendments to implement congressionally mandated submission and disclosure requirements of the Holding Foreign Companies Accountable Act (HFCA Act),” the SEC said in a statement.The SEC said that it was “seeking public comment on these submission and disclosure requirements” within 90 days of the date of the...
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US to hold China accountable for human rights abuses: US Speaker
24Mar By Mike TrudellNo Comments
World

US to hold China accountable for human rights abuses: US Speaker

The United States Speaker Nancy Pelosi on Tuesday lauded the sanctions imposed by the Biden administration on China and said that Washington will hold Beijing accountable for human rights abuses against the Uyghurs in Xinjiang as well as against people in Tibet and Hong Kong“The Biden administration’s coordinated sanctions on China are a strong and resounding step to hold China accountable for its barbaric atrocities against the Uyghur people,” Pelosi said in a statement.“America, together with our allies, will continue to hold Beijing accountable for its campaign of human rights abuses, including those targeting the Tibetan people, people of Hong Kong and journalists, human rights lawyers and advocates on the mainland,” she added.Pelosi said that the US Congress will further its actions w...
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