Archive for ‘Economics’

21/04/2020

South Korea, China cast doubt on reports North Korean leader Kim gravely ill

SEOUL (Reuters) – South Korean and Chinese officials on Tuesday cast doubt on reports North Korean leader Kim Jong Un was ill after media outlets said he had undergone a cardiovascular procedure and was in “grave danger”.

Daily NK, a Seoul-based speciality website, reported late on Monday, citing one unnamed source in North Korea, that Kim was recovering after undergoing the procedure on April 12. The North Korean leader is believed to be about 36.

CNN cited a U.S. official with direct knowledge of the matter as saying Washington was “monitoring intelligence” that Kim was in grave danger after surgery. Bloomberg quoted an unnamed U.S. official as saying the White House was told that Kim took a turn for the worse after the surgery.

However, two South Korean government officials rejected the CNN report without elaborating on whether Kim had undergone surgery. The presidential Blue House said there were no unusual signs coming from the reclusive, nuclear-capable state.

Kim is the unquestioned leader of North Korea and the sole commander of its nuclear arsenal. He has no clear successor and any instability in the country could be a major international risk.

The state KCNA news agency gave no indication of the whereabouts of Kim in routine dispatches on Tuesday, but said he had sent birthday gifts to prominent citizens.

An official at the Chinese Communist Party’s International Liaison Department, which deals with North Korea, told Reuters the source did not believe Kim was critically ill. China is North Korea’s only major ally.

Chinese foreign ministry spokesman Geng Shuang said Beijing was aware of reports about the health of Kim, but said it does not know their source, without commenting on whether it has any information about the situation.

South Korean shares exposed to North Korea tumbled and the Korean won fell on the reports. The won traded down more than 1% against the dollar even as South Korean government sources said Kim was not gravely ill.

U.S. stock futures were trading 0.5% lower, but it was not clear how much of that weakness was owing to the collapse in U.S. oil prices and consequent concerns over global demand.

Daily NK said Kim had been admitted to hospital on April 12, just hours before the cardiovascular procedure, as his health had deteriorated since August due to heavy smoking, obesity and overwork.

It said he was now receiving treatment at a villa in the Mount Myohyang resort north of the capital Pyongyang.

“My understanding is that he had been struggling (with cardiovascular problems) since last August but it worsened after repeated visits to Mount Paektu,” a source was quoted as saying, referring to the country’s sacred mountain.

Accompanied by senior North Korean figures, Kim took two well-publicised rides on a stallion on the snowy slopes of the mountain in October and December.

KIM’S HEALTH KEY TO STABILITY

An authoritative U.S. source familiar with internal U.S. government reporting on North Korea questioned the CNN report that Kim was in “grave danger”.

“Any credible direct reporting having to do with Kim would be highly compartmented intelligence and unlikely to leak to the media,” a Korea specialist working for the U.S. government said on condition of anonymity.

Japan’s top government spokesman, Yoshihide Suga, declined to comment on the reports of Kim’s health.

“We are regularly gathering and analysing information about North Korea with great concern,” he said. “We will keep gathering and analysing information regarding North Korea by collaborating with other countries such as the U.S.”

Kim’s potential health issues could fuel uncertainty over the future of the reclusive state’s dynastic rule and stalled denuclearisation talks with the United States, issues in which Kim wields absolute authority.

With no details known about his young children, analysts say his sister and loyalists could form a regency until a successor is old enough to take over.

Speculation about Kim’s health first arose following his absence from the anniversary of the birthday of its founding father and Kim’s grandfather, Kim Il Sung, on April 15.

On April 12, North Korean state media reported that Kim Jong Un had visited an airbase and observed drills by fighter jets and attack aircraft.

Two days later North Korea launched multiple short-range anti-ship cruise missiles into the sea and Sukhoi jets fired air-to-surface missiles as part of military exercises.

The missile launches were part of the celebrations for Kim’s grandfather, Seoul officials said, but there was no North Korea state media report on his attendance or the tests.

Reporting from inside North Korea is notoriously difficult, especially on matters concerning the country’s leadership, given tight controls on information. There have been false and conflicting reports in the past on matters related to its leaders.

Kim is a third-generation hereditary leader who rules North Korea with an iron-fist, taking over the titles of head of state and commander in chief of the military since late 2011.

In recent years Kim has launched a diplomatic offensive to promote both himself as a world leader and his hermit kingdom, holding three meetings with U.S. President Donald Trump, four with South Korean President Moon Jae-in and five with China’s President Xi Jinping.

He was the first North Korean leader to cross the border into South Korea to meet Moon in 2018. Both Koreas are technically still at war, as the Korean War of 1950-53 ended in an armistice, not a peace treaty.

Kim has sought to have international sanctions against his country eased, but has refused to dismantle his nuclear weapons programme, a steadfast demand by the United States.

Source: Reuters

 

20/04/2020

China resumes major water conservancy projects

BEIJING, April 20 (Xinhua) — China has resumed construction of major water conservancy projects amid its further containment of the novel coronavirus disease (COVID-19) epidemic.

Construction has resumed so far on 143 of the 172 major water conservancy projects, with the scale of investment under construction reaching over 1 trillion yuan (around 141 billion U.S. dollars), according to the Ministry of Water Resources.

The ministry said 30 conservancy projects have completed construction and produced benefits.

As the situation of epidemic control and prevention continues to improve, China is speeding up construction on major infrastructure projects to mitigate the economic impact of the novel coronavirus epidemic.

Construction has resumed on about 85 percent of the housing and urban infrastructure projects in China as of April 1, with about 158,700 housing and urban infrastructure projects across the country cranking up work, according to the Ministry of Housing and Urban-Rural Development.

Source: Xinhua

20/04/2020

Euro zone trade surplus grows, with decline in China imports

BRUSSELS (Reuters) – The euro zone’s trade surplus with the rest of the world grew in February, with a decline in imports from China as well as sharply lower energy needs because of mild winter weather.

The unadjusted goods trade surplus grew to 23.0 billion euros ($25.1 billion) in February, compared with 18.5 billion euros a year earlier. Exports rose by 1.6%, while imports fell by 1.0%.

For China, which already had widespread coronavirus restrictions in place in February, exports from the European Union as a whole were slightly lower than in February 2019. However, imports were down by 8.1%, according to data on Eurostat’s website.

Energy imports as a whole also declined by 9.6% in February, when comparing Jan-Feb data issued on Monday and January data from a month ago. That translated into 10.1% lower imports from Russia and 5.9% less from Norway.

The trade surplus with the United States, by contrast, grew by 21% in the month as exports increased and imports declined. The persistent surplus in goods has been a source of transatlantic tension.

On a seasonally adjusted basis the euro zone trade surplus also rose to 25.8 billion euros in February from 18.2 billion euros in January. Exports were 1.8% higher month-on-month and imports 2.3% lower.

Source: Reuters

20/04/2020

Educational situation in China’s Xinjiang much improved: scholar

KATHMANDU, April 19 (Xinhua) — A German scholar has recently found that the right to education for Uygurs and people of other ethnic groups is well protected in China’s Xinjiang region, as young people there enjoy increasingly better opportunities.

Michael Heinrich, who has been teaching German in Minzu University of China for more than five years, said in an article published on Online Khabar news website in March that he has “paid close attention to the development of Chinese education in recent years, especially the education situation in ethnic minority areas.”

Heinrich said he has taught a Xinjiang Uygur student, who often talks with him about the education situation in her hometown and appreciates government policies on education.

The Uygur student has told Heinrich that she lives in a place where she receives Islamic religious education and China’s nine-year compulsory education, and the Uygur students in Xinjiang can enjoy preferential policies, such as extra points in college entrance examination, special policies for college admissions, and employment policy support.

In recent years, the Chinese government has intensified policy support on education in Xinjiang Uygur Autonomous Region, and increased investment in educational resources, especially those on vocational education, the article read.

“Through vocational education, more Uyghur Muslim students can enhance their survival skills and work harder by themselves and improve their living standards with these hands,” it said.

For some time, Xinjiang has been plagued by terrorism, religious extremism and separatism, according to the passage, and carrying out vocational education and training in Xinjiang is an effective measure to promote the rule of law and a practical action to protect the vital interests of people of all ethnic groups there.

It is also a just move in fighting extremism and terrorism to contribute to the stability in Xinjiang, it added.

Some Western media outlets as well as some U.S. politicians often slander the Chinese government under the guise of “human rights,” which does not only disregard the facts but also interferes with China’s sovereignty, Heinrich pointed out.

The situation in Xinjiang that they saw was completely different from the stories told by some Western politicians and media, Heinrich quoted some people who have visited Xinjiang and witnessed its development as saying.

The rights to life and development of people of all ethnic groups in Xinjiang are protected to the largest extent, Heinrich added.

Source: Xinhua

20/04/2020

China to accelerate research on digital infrastructure: official

BEIJING, April 19 (Xinhua) — China will step up efforts to expedite technological research on the construction and application of digital infrastructure, according to the Ministry of Industry and Information Technology (MIIT).

More support should be provided to the research and development of 5G enhancement technology and 6G technology, while the accurate matching of innovation, industrial, capital and policy chains should be promoted, said Chen Zhaoxiong, vice minister of the MIIT.

Chen also stressed the importance of emphasizing the huge demand for digital transformation and improving new digital infrastructure to facilitate economic and social upgrade of the country.

The MIIT will take a string of measures to optimize industrial development, such as expediting construction of 5G and industrial internet connecting people, machine and things, developing new types of intelligent computing facilities, advancing orderly construction and application of large data centers while upgrading micro and small data centers, enriching application scenarios and building a network security system.

Source: Xinhua

20/04/2020

India coronavirus lockdown: What stays open and what stays shut

An empty stretch of the road and Delhi Police barricades to screen commuters during lockdown, at Delhi Gate on April 16, 2020 in New Delhi, India.Image copyright GETTY IMAGES
Image caption An empty stretch of the road and Delhi Police barricades to screen commuters during lockdown, at Delhi Gate on April 16, 2020 in New Delhi, India.

India has eased some restrictions imposed as part of a nationwide lockdown to curb the spread of the coronavirus.

Most of the new measures are targeted at easing pressure on farming, which employs more than half the nation’s workforce.

Allowing farms to operate again has been seen as essential to avoid food shortages.

But some other measures announced last week, will not be implemented.

This includes the delivery of non-essential items such as mobile phones, computers, and refrigerators by e-commerce firms – the government reversed its decision on that on Sunday.

And none of the restrictions will be lifted in areas that are still considered “hotspots” for the virus – this includes all major Indian cities.

Domestic and international flights and inter-state travel will also remain suspended.

So what restrictions are being eased?

Most of the new measures target agricultural businesses – farming, fisheries and plantations. This will allow crops to be harvested and daily-wagers and others working in these sectors to continue earning.

To restore the supply chain in these industries, cargo trucks will also be allowed to operate across state borders to transport produce from villages to the cities.

Essential public works programmes – such as building roads and water lines in rural areas – will also reopen, but under strict instructions to follow social distancing norms. These are a huge source of employment for hundreds of thousands of daily-wage earners, and farmers looking to supplement their income.

Banks, ATMs, hospitals, clinics, pharmacies and government offices will remain open. And the self-employed – such as plumbers, electricians and carpenters – will also be allowed to work.

Some public and even private workplaces have been permitted to open in areas that are not considered hotspots.

But all businesses and services that reopen are expected to follow social distancing norms.

Who decides what to reopen?

State governments will decide where restrictions can be eased. And several state chief ministers, including Delhi’s Arvind Kejriwal, have said that none of the restrictions will be lifted in their regions.

Mr Kejriwal said the situation in the national capital was still serious and the decision would be reviewed after one week.

India’s most populous state, Uttar Pradesh, will also see all restrictions in place, as will the southern states of Andhra Pradesh, Telangana and Karnataka.

The southern state of Kerala, which has been widely acknowledged for its success in dealing with the virus, has announced a significant easing of the lockdown in areas that it has demarcated as “green” zones.

This includes allowing private vehicular movement and dine-in services at restaurants, with social distancing norms in place. However, it’s implementing what is known as an “odd-even” scheme – private cars with even and odd number plates will be allowed only on alternate days, to limit the number of people on the road.

Source: The BBC

20/04/2020

China sees higher 2020 soybean, pork imports aid industry challenges

BEIJING/SHANGHAI (Reuters) – China expects to import more soybeans and pork this year following the novel coronavirus outbreak and African swine fever, which has decimated its pig herds.

Soybean imports are forecast at 92.48 million tonnes this year, rising to 96.62 million tonnes in 2025 and 99.52 million tonnes in 2029, an official from the agriculture ministry told a video conference on the outlook for agriculture released on Monday.

Pork imports this year are seen rising to 2.8 million tonnes, a 32.7% increase from the previous year.

China is a key buyer and consumer of soybeans and pork globally, and typically imports millions of tonnes of soybeans per year to crush for meal to feed its livestock.

The African swine fever outbreak, however, had slashed China’s pig herd by over 40% last year, reducing supplies in the world’s biggest pork consumer.

Combined with the coronavirus outbreak, which hit the transport of pigs and delayed the restart of slaughtering plants, prices of China’s favourite meat rose to record levels in February.

China has been increasing pork imports in recent months to make up for the drop in domestic supply.

Despite the expected surge in imports, China’s 2020 pork consumption is forecast to fall to 42.06 million tonnes, down 5.6% year-on-year, hit by high prices and a fall in consumer demand due to the coronavirus outbreak, according to the agriculture ministry.

In line with the slowing consumption, China’s slaughtered pig herd this year will fall 7.8% year-on-year to 501.49 million heads. Pork output this year will also decline to 39.34 million tonnes from 2019, but will rebound to around 54 million tonnes in 2022.

In the longer term, however, pork imports are expected to gradually fall, the ministry forecast, while beef and mutton imports are set to increase in the next decade.

Meanwhile, China’s domestic soybean output is seen at 18.81 million tonnes in 2020, a 3.9% gain from the previous year, while crushing volumes were pegged at 85.98 million tonnes.

Soybean consumption will increase steadily and continue to rely mainly on imports in the next 10 years, said a ministry official.

The ministry also said China’s corn acreage and output are both set to increase in 2020, with production forecast to reach over 260 million tonnes this year, while annual rice output is expected to hold steady above 200 million tonnes per year in the next 10 years.

Source: Reuters

19/04/2020

New media companies shine at China’s evolving documentary industry

BEIJING, April 18 (Xinhua) — New media platforms are reshaping China’s documentary industry, ushering in a new era of vigorous development, said Zhang Tongdao, director of the Documentary Center with Beijing Normal University.

There is a rapid growth of new media companies in the documentary market, according to an annual study report of the development of Chinese documentary in 2020, which was released Saturday by the center, the China Intercontinental Communication Center and other institutions.

China’s total investment in documentary making was 5.04 billion yuan (about 710 million U.S. dollars) last year, and the country was blessed with 6.66 billion yuan in total output value, according to the report.

“More and more documentaries are broadcast on the internet, even only on the internet media, which complement those aired on television,” Zhang said.

Some documentaries, including “Flavorful Origins: Chaoshan Cuisine” by Tencent video and the second season of “The Story Of Chuaner” by video-sharing platform Bilibili, gained the brand value in 2019 through exclusive streaming on the platforms.

The report also showed that the documentary production capacity of new media companies reached a new height in 2019.

Last year, Tencent produced 23 documentaries on its own, accounting for about one-third of its total online projects throughout the year. Bilibili produced and launched 16 documentaries, totaling 55.6 hours, while iQiyi, also an online platform, produced or co-produced 15 documentaries, said the report.

The report added that documentary producers and streamers are also foraying into the short video field, varying versions such as shorter or longer in length for different platforms.

Source: Xinhua

19/04/2020

Chinese medical team returns after aid mission in Pakistan

URUMQI, April 18 (Xinhua) — A medical team of eight experts who aided Pakistan’s fight against COVID-19 returned Friday night to Urumqi, capital of northwest China’s Xinjiang Uygur Autonomous Region.

The team, consisting of experts in various fields including respiratory, critical care and traditional Chinese medicine (TCM), arrived in Pakistan on March 28 and visited cities of Islamabad, Lahore and Karachi.

The Chinese experts communicated with the Pakistani federal government, national and local health authorities, hospitals and medical schools, as well as the Red Crescent.

The team members shared their experience through several video conferences and offered practical, specific suggestions to their Pakistani peers concerning the diagnosis, clinical treatment and epidemiologic study of COVID-19, and the application of TCM, hospital infection control and the construction of temporary hospitals.

The team also assisted with improving Pakistan’s guidelines on diagnosis and treatment of COVID-19 to help build an efficient epidemic prevention and control system in Pakistan and enhance its screening and testing capabilities.

Meanwhile, the experts carried out epidemic prevention guidance and popular science education for the Chinese embassy in Pakistan, Chinese enterprises, overseas Chinese and Chinese students in the country.

Source: Xinhua

19/04/2020

Asian countries more receptive to China’s coronavirus ‘face mask diplomacy’

  • Faced with a backlash from the West over its handling of the early stages of the pandemic, Beijing has been quietly gaining ground in Asia
  • Teams of experts and donations of medical supplies have been largely welcomed by China’s neighbours
Despite facing some criticism from the West, China’s Asian neighbours have welcomed its medical expertise and vital supplies. Photo: Xinhua
Despite facing some criticism from the West, China’s Asian neighbours have welcomed its medical expertise and vital supplies. Photo: Xinhua
While China’s campaign to mend its international image in the wake of its handling of the coronavirus health crisis has been met with scepticism and even a backlash from the US and its Western allies, Beijing has been quietly gaining ground in Asia.
Teams of experts have been sent to Cambodia, the Philippines, Myanmar, Pakistan and soon to Malaysia, to share their knowledge from the pandemic’s ground zero in central China.
Beijing has also donated or facilitated shipments of medical masks and ventilators to countries in need. And despite some of the equipment failing to meet Western quality standards, or being downright defective, the supplies have been largely welcomed in Asian countries.
China has also held a series of online “special meetings” with its Asian neighbours, most recently on Tuesday when Premier Li Keqiang discussed his country’s experiences in combating the disease and rebooting a stalled economy with the leaders of the Association of Southeast Asian Nations (Asean), Japan and South Korea.
Chinese Prime Minister Li Keqiang speaks to Asean Plus Three leaders during a virtual summit on Tuesday. Photo: AP
Chinese Prime Minister Li Keqiang speaks to Asean Plus Three leaders during a virtual summit on Tuesday. Photo: AP
Many Western politicians have publicly questioned Beijing’s role and its subsequent handling of the crisis but Asian leaders – including Philippine President Rodrigo Duterte and Japanese Prime Minister Shinzo Abe – have been reluctant to blame the Chinese government, while also facing criticism at home for not closing their borders with China soon enough to prevent the spread of the virus.

An official from one Asian country said attention had shifted from the early stages of the outbreak – when disgruntled voices among the public were at their loudest – as people watched the virus continue its deadly spread through their homes and across the world.

“Now everybody just wants to get past the quarantine,” he said. “China has been very helpful to us. It’s also closer to us so it’s easier to get shipments from them. The [medical] supplies keep coming, which is what we need right now.”

The official said also that while the teams of experts sent by Beijing were mainly there to observe and offer advice, the gesture was still appreciated.

Another Asian official said the tardy response by Western governments in handling the outbreak had given China an advantage, despite its initial lack of transparency over the outbreak.

“The West is not doing a better job on this,” he said, adding that his government had taken cues from Beijing on the use of propaganda in shaping public opinion and boosting patriotic sentiment in a time of crisis.

“Because it happened in China first, it has given us time to observe what works in China and adopt [these measures] for our country,” the official said.

Experts in the region said that Beijing’s intensifying campaign of “mask diplomacy” to reverse the damage to its reputation had met with less resistance in Asia.

Why China’s ‘mask diplomacy’ is raising concern in the West

29 Mar 2020

“Over the past two months or so, China, after getting the Covid-19 outbreak under control, has been using a very concerted effort to reshape the narrative, to pre-empt the narrative that China is liable for this global pandemic, that China has to compensate other countries,” said Richard Heydarian, a Manila-based academic and former policy adviser to the Philippine government.

“It doesn’t help that the US is in lockdown with its domestic crisis and that we have someone like President Trump who is more interested in playing the blame game rather than acting like a global leader,” he said.

Shahriman Lockman, a senior analyst with the foreign policy and security studies programme at Malaysia’s Institute of Strategic and International Studies, said that as the US had withdrawn into its own affairs as it struggled to contain the pandemic, China had found Southeast Asia a fertile ground for cultivating an image of itself as a provider.

China’s first-quarter GDP shrinks for the first time since 1976 as coronavirus cripples economy
Beijing’s highly publicised delegations tasking medical equipment and supplies had burnished that reputation, he said, adding that the Chinese government had also “quite successfully shaped general Southeast Asian perceptions of its handling of the pandemic, despite growing evidence that it could have acted more swiftly at the early stages of the outbreak in Wuhan”.
“Its capacity and will to build hospitals from scratch and put hundreds of millions of people on lockdown are being compared to the more indecisive and chaotic responses seen in the West, especially in Britain and the United States,” he said.
Coronavirus droplets may travel further than personal distancing guidelines
16 Apr 2020

Lockman said Southeast Asian countries had also been careful to avoid getting caught in the middle of the deteriorating relationship between Beijing and Washington as the two powers pointed fingers at each other over the origins of the new coronavirus.

“The squabble between China and the United States about the pandemic is precisely what Asean governments would go to great lengths to avoid because it is seen as an expression of Sino-US rivalry,” he said.

“Furthermore, the immense Chinese market is seen as providing an irreplaceable route towards Southeast Asia’s post-pandemic economic recovery.”

Aaron Connelly, a research fellow in Southeast Asian political change and foreign policy with the International Institute for Strategic Studies in Singapore, said Asian countries’ dependence on China had made them slow to blame China for the pandemic.

“Anecdotally, it seems to me that most Southeast Asian political and business elites have given Beijing a pass on the initial cover-up of Covid-19, and high marks for the domestic lockdown that followed,” he said.

“This may be motivated reasoning, because these elites are so dependent on Chinese trade and investment, and see little benefit in criticising China.”

China and Vietnam ‘likely to clash again’ as they build maritime militias

12 Apr 2020
The cooperation with its neighbours as they grapple with the coronavirus had not slowed China’s military and research activities in the disputed areas of the South China Sea – a point of contention that would continue to cloud relations in the region, experts said.
Earlier this month an encounter in the South China Sea with a Chinese coastguard vessel led to the sinking of a fishing boat from Vietnam, which this year assumed chairmanship of Asean.
And in a move that could spark fresh regional concerns, shipping data on Thursday showed a controversial Chinese government survey ship, the Haiyang Dizhi 8, had moved closer to Malaysia’s exclusive economic zone.
The survey ship was embroiled in a months-long stand-off last year with Vietnamese vessels within Hanoi’s exclusive economic zone and was spotted again on Tuesday 158km (98 miles) off the Vietnamese coast.
Source: SCMP
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