GeoPolitics | CHINDIA ALERT: You'll be living in their world, very soon

19/07/2012

* ONGC to Continue Exploration in South China Sea

WSJ: “India’s state-run Oil & Natural Gas Corp. will continue to explore for oil and gas offshore Vietnam in the South China Sea, ignoring objections from China.

ONGC Videsh Ltd., the overseas investment arm of ONGC, has accepted Vietnam’s proposal to stay invested in Block 128 as Hanoi has offered additional data that can help to make future exploration economically feasible and discovering hydrocarbons commercially viable, a senior executive with the company said Thursday.”

via ONGC to Continue Exploration in South China Sea – WSJ.com.

Protest over China’s South China Sea oil tender (thehindu.com)
Vietnamese nationalists rally against China (guardian.co.uk)
The Curious Case Of India’s Withdrawal From The South China Sea – Analysis (eurasiareview.com)
India for peaceful resolution of South China sea dispute (thehindu.com)
Asean Summit Breaks Down Over South China Sea Disputes – WSJ.com (thebloggingpath.wordpress.com)

Posted in Chindia Alert, Economics, GeoPolitics, India alert, Investment in tangibles, Politics | Leave a Comment »

Tags: China, Hanoi, Hydrocarbon exploration, India, Oil and Natural Gas Corporation, ONGC, South China Sea, Vietnam

19/07/2012

* China pledges $20bn in credit for Africa at summit

BBC News: “China has pledged $20bn (£12.8bn) in credit for Africa over the next three years, in a push for closer ties and increased trade.

President Hu Jintao made the announcement at a summit in Beijing with leaders from 50 African nations. He said the loans would support infrastructure, agriculture and the development of small businesses.

The Chinese leader also called for better co-operation with African countries on international affairs.

As developing nations, China and countries in Africa should work better together in response to “the big bullying the small, the strong domineering over the weak and the rich oppressing the poor” in international affairs, said Mr Hu.

The loan is double the amount China pledged in a previous three-year period in 2009, since which time China has been Africa’s largest trading partner.

Trade between the two hit a record high of $166bn (£106bn) in 2011, Chinese Commerce Minister Chen Deming wrote in the China Daily newspaper, ahead of the two-day forum.

“We want to continue to enhance our traditional friendship… rule out external interference and enhance mutual understanding and trust,” said Mr Hu.”

via BBC News – China pledges $20bn in credit for Africa at summit.

https://chindia-alert.org/political-factors/geopolitics-chinese/
After Creating Dollar Exclusion Zones In Asia And South America, China Set To Corner Africa Next (investmentwatchblog.com)
BBC News – Viewpoint: Africa must do more to profit from China (bbc.co.uk)
China aims to rewrite perceptions on Africa investment push-envoy (vancouverdesi.com)
Beijing Promises Continued Trade Ties with Africa (blogs.voanews.com)

Posted in China alert, Economics, Foreign loans, GeoPolitics, Politics | Leave a Comment »

Tags: africa, Beijing, Chen Deming, China, History of trade of the People's Republic of China, Hu Jintao, politics

17/07/2012

* WTO: China discriminates against foreign card companies

BBC News: “The World Trade Organisation has ruled that China discriminates against foreign credit-card and debit-card providers.

A panel of the trade body said China maintains a monopoly on yuan-denominated payment cards which breaks WTO rules. Only one company, China UnionPay, is allowed to process domestic currency transactions. This limits foreign providers such as Visa and Mastercard.

There is a 60-day period in which either side can appeal against the ruling.

The Obama administration first lodged the complaint in 2010.

US companies have been trying to get greater access to the massive China market.

“Today’s win highlights that tackling unfair Chinese trade practices has been a priority of this president”, Jay Carney, White House press secretary

Currently, they can only issue cards in partnership with Chinese banks and China UnionPay.

Visa said in a statement that the company is “hopeful that this ruling will pave the way for international payment companies to participate in the domestic payments marketplace in China”.

The decision by the WTO is being hailed as a “win” by the US government. The trade gap with China has become a campaign issue in the upcoming elections.

“Today’s win highlights that tackling unfair Chinese trade practices has been a priority of this president,” said Jay Carney, White House press secretary.

Tim Reif from the US Trade Representative’s office said the ruling would support about 6,000 jobs if it goes through.

However, the WTO did not agree with all the claims raised by the United States.”

via BBC News – WTO: China discriminates against foreign card companies.

Posted in China alert, Economics, free trade, GeoPolitics | Leave a Comment »

Tags: China, China UnionPay, Office of the United States Trade Representative, politics, travel, United States, Visa, World Trade Organization, WTO

26/06/2012

Yet another ‘power bloc’!

Posted in Chindia Alert, GeoPolitics, Politics | Leave a Comment »

15/06/2012

* More people see China as the world’s top economy, poll finds

LA Times: “Never mind that the U.S. economy is about twice the size of China’s. More people than ever perceive the Asian giant as the world’s dominant economic power, according to a Pew Research Center global survey.

The results are believed to reflect popular opinion that the U.S. and Chinese economies are heading in opposite directions.

“The global financial crisis and the steady rise of China have led many to declare China the world’s economic leader,” said the report, which was released Wednesday and also addressed a series of global opinions on the perception of nations and their leaders.

For the first time, respondents around the world picked China as the world’s leading economy over the U.S., by a margin of 42% to 36%.

Asked the same question last year, a median of 41% said the U.S. is the world’s leading economy and only 35% picked China.

Even many American respondents said they believed China was ahead, with 41% saying China was the leading power and 40% saying the U.S.

Chinese respondents were more sanguine (and realistic), with 48% calling the U.S. the primary economic power and 29% choosing China.

There’s ample reason to believe that China is ascendant. The country was able to insulate itself from the 2008 financial crisis with minimal exposure to foreign banks. What it lost in trade it made up for with a massive stimulus plan. China is also sitting on a cache of $3.2 trillion in foreign reserves that many believe it can wield as a financial weapon.

But China’s path to global dominance is anything but assured and, at the very least, decades off, economists say.”

via More people see China as the world’s top economy, poll finds – latimes.com.

They say: “perception is reality”!

See also: G2?

10 Ways America Is Losing Its Superpower Status to China (dailyfinance.com)
The Last Years of America’s Historic GDP Reign (businessweek.com)
11 International Agreements That Are Nails In The Coffin Of The Petrodollar (judgementofamerica.wordpress.com)

Posted in China alert, Economics, GeoPolitics | Leave a Comment »

Tags: China, Economic power, economy, Economy of the United States, United States

09/06/2012

* China Signals Interest in Afghanistan

NY Times: “In a sign of China’s growing interest in neighboring Afghanistan after the departure of the United States and NATO led forces, President Hu Jintao met the Afghan leader, Hamid Karzai, in the Great Hall of the People on Friday and announced a new strategic partnership between the two countries.

Mr. Karzai was given special attention this week at the summit meeting of the Shanghai

Cooperation Organization, a group of six countries organized by China that includes Russia and Central Asian nations bordering Afghanistan. China is trying to ensure that a Muslim separatist group in a western region does not benefit from the Taliban when Western forces leave Afghanistan.

In a joint statement, China and Afghanistan said they would step up cooperation in security and the fight against terrorism, as well as increase intelligence sharing. No specifics were given.

A modest $23 million aid grant for unspecified projects that accompanied the new partnership indicated that despite concerns about the stability of Afghanistan after 2014, when most United States and allied troops are expected to be gone, China had no immediate plans to play a major development role.

This was Mr. Karzai’s fifth, and most prominent, visit to China. No Chinese leader has been to Afghanistan since the 1958 visit of Prime Minister Zhou Enlai. China’s major worry is the prospect of a Taliban-dominated Afghanistan lending sanctuary to the separatist group, the East Turkestan Islamic Movement, led by ethnic Uighurs, a Turkic-speaking, largely Muslim people in the autonomous western region of Xinjiang. The group wants a breakaway homeland in Xinjiang.

via China Signals Interest in Afghanistan – NYTimes.com.

* Myanmar can be link between India, China: Indian PM

Times of India: “Looking to quell speculation about India and China taking their rivalry to gas-rich Myanmar, PM Manmohan Singh said the country was perfectly placed to play the role of an economic bridge between China and India. While Indian officials have often described Myanmar as India’s gateway to Aseancountries, this is the first time Myanmar has been spoken about by the government as a link between India and China.

English: Manmohan Singh, current prime minister of India. (Photo credit: Wikipedia)

While China alone accounts for more than 70% of investments into Myanmar, India stands at the 13th position in terms of its investments into the country. Despite its attempts to play a larger economic role there, India continues to be looked upon as a Johnny-come-lately whose infrastructure projects, including the ambitious Kaladan multimodal transport facility, have hardly taken off. On the other hand, Beijing is even building a gas pipeline from Myanmar to China.”

via Myanmar can be link between India, China: PM – The Times of India.

Posted in China alert, Chindia Alert, Economics, GeoPolitics, India alert, Infrastructure, Trade | Leave a Comment »

Tags: ASEAN, Burma, China, economic bridge, India, manmohan singh, Myanmar, prime minister of india

29/05/2012

* Japan, China to begin direct currency trading on June 1

Xinhua: “Japan and China will begin direct yen- yuan trading on June 1, Japanese Finance Minister Jun Azumi said Tuesday, abandoning the existing system that determines yen-yuan rates via their U.S.dollar values.

Image used to convey the idea of currency conversion (Photo credit: Wikipedia)

The move is broadly seen as a way to boost trade and investment between the world’s second- and third- largest economies, and as part of measures China took to internationalize its currency.”

via Japan, China to begin direct currency trading on June 1 – Xinhua | English.news.cn.

The writing is on the wall for the US as the world’s only currency acting as a reserve and exchange currency. This is another sign that the supremacy of the US as the world leader is also beginning to wane. But Americans can relax – for now. It took the Roman Empire over 500 years to decline and the British Empire over 100 years.

Waning of US Dollar
Japan to buy $10b Chinese govt bond (chindia-alert.org)

Posted in China alert, Economics, GeoPolitics, Trade | Leave a Comment »

Tags: China, currency conversion, exchange currency, Exchange rate, Japan, Roman Empire, United States dollar

29/05/2012

* India PM Manmohan Singh in historic Burma visit

BBC News: “Manmohan Singh has held talks with Burmese President Thein Sein as he makes the first official visit to Burma by an Indian prime minister since 1987. The two sides signed 12 agreements to strengthen trade and diplomatic ties. During his three-day trip, Mr Singh will meet opposition leader Aung San Suu Kyi, whose mother once served as Burma’s ambassador to India.

The two nations share a 1,600km (1,000 mile) border, but relations have often been uneasy. On Monday, they signed agreements on border area development, air services, cultural exchanges, a $500m credit line between India’s Export-Import Bank and Myanmar [Burma] Foreign Trade bank, and establishment of a joint trade and investment forum, the BBC’s Sanjoy Majumder reports from the Burmese capital, Nay Pyi Taw.

Delhi cold-shouldered Burma’s military rulers during the 1990s, infuriating the generals by openly supporting Ms Suu Kyi. But Mr Singh, who arrived in the Burmese capital on Sunday, has overseen a dramatic turnaround in Delhi’s policy, and hosted former ruler Than Shwe on a state visit in 2010. Earlier, on his arrival in Burma, Mr Singh said: “I am coming here after 25 years when the last prime minister of India visited here. We have centuries-old ties of religion, culture and civilisation with the people of Myanmar. He had earlier said he wanted “stronger trade and investment links, development of border areas, improving connectivity between our two countries and building capacity and human resources”.”

via BBC News – India PM Manmohan Singh in historic Burma visit.

Posted in Diplomacy, GeoPolitics, Good news, India alert, Politics, Trade | 2 Comments »

Tags: Aung San Suu Kyi, Burma, India, manmohan singh, Myanmar, politics, Than Shwe, Thein Sein

23/05/2012

* Taiwan spies increase in carrier threat

Hong Kong Standard: “Taiwan’s intelligence chief said Beijing plans to build two aircraft carriers to go with the first one in its fleet, a refitted former Soviet carrier currently undergoing sea trials.

“Indeed, the Chinese communists have decided to build two aircraft carriers on their own,” Tsai Teh-sheng, head of the National Security Bureau, told lawmakers. Construction is expected to start next year and in 2015, with the warships, which would be conventionally powered, to be delivered in 2020 and 2022. Tsai said Beijing has conducted six sea trials of its first carrier since the middle of last year, and that Taiwan expects it to go into service before the end of this year. Initially it may simply be used for training purposes but it can be sent for battles when necessary in the future,” he said. The ship’s sea trials have sparked international concern about the mainlands widening naval reach amid growing regional tensions over maritime disputes and a US campaign to assert itself as a Pacific power.”

via Taiwan spies increase in carrier threat – The Standard.

Taiwan to deploy additional ‘carrier killers’ (chinadailymail.com)

Posted in China alert, Defence, GeoPolitics, Military, Uncategorized | 1 Comment »

Tags: Aircraft carrier, Beijing, China, Sea trial, Taiwan

CHINDIA ALERT: You'll be living in their world, very soon

Chindia Alert: You’ll be Living in their World Very Soon

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* ONGC to Continue Exploration in South China Sea

* China pledges $20bn in credit for Africa at summit

* WTO: China discriminates against foreign card companies

* More people see China as the world’s top economy, poll finds

* China Signals Interest in Afghanistan

* Myanmar can be link between India, China: Indian PM

* Japan, China to begin direct currency trading on June 1

* India PM Manmohan Singh in historic Burma visit

* Taiwan spies increase in carrier threat

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