Sunday, January 20, 2019

Canada reveals it’s actively considering joining China-led Asian bank AIIB, despite U.S. reservations

OTTAWA - Canada broke its silence on Tuesday over whether it would take part in the China-led Asian Infrastructure Investment Bank, signalling it was actively considering joining the institution despite U.S. and Japanese reservations. A senior Canadian finance official revealed the stance to reporters ahead of meetings in Washington of...

Chinese leader in Belarus to sign multibillion dollar deals

MINSK, Belarus (AP) — Chinese President Xi Jinping traveled Sunday to Belarus for a three-day trip to sign deals worth billions of dollars as Beijing looks to build greater inroads into Europe's economy. Xi said Sunday that Belarus could become a key hub for China's much-vaunted Silk Road vision —...

Chinese Bank Buys Huge London Gold Vault Expanding Influence on World Gold Market

China is serious about gold and continues to expand its influence on the world gold market. On Monday, China’s largest bank announced the purchase of one of Europe’s biggest gold vaults. Reuters reported the sale: ICBC Standard Bank is buying Barclays’ London precious metals vault, giving the Chinese bank the capacity...

China Readies $46 Billion for Pakistan Trade Route

Beijing plans to pour $46 billion into infrastructure projects, open new trade routes. Chinese President Xi Jinping is set to unveil a $46 billion infrastructure spending plan in Pakistan that is a centerpiece of Beijing’s ambitions to open new trade and transport routes across Asia and challenge the U.S. as the dominant...

What Can China’s New Silk Road Do For Global Trade?

In October 2012, Wang Jisi – professor at Beijing University – urged China to re-open its ancient commercial trade routes with the West. In 2013, China’s President, Xi Jinping proposed to its neighbors the “One Road, One Belt” initiative. China’s aim? To achieve $2.5tn in additional annual trade with...

This Map Shows Why The South China Sea Could Lead To The Next World...

The South China Sea is a powder keg of territorial claims mixed with oil and gas resources. Almost every country in the area has a longstanding animus toward at least one of its neighbors. China claims 90% of the Sea, and Beijing is viewed with fear and suspicion throughout the region. The...

AIIB outlines 5 core areas for investment

The China-led Asian Infrastructure Investment Bank will invest in five major areas during its initial stages-energy, transportation, rural development, urban development and logistics-a top official said on Thursday. The bank will later expand the investment to other areas such as education and healthcare to promote social development, said Chen Huan,...

China pushes for revival of Silk Road to boost trading links with neighbours

The ancient Silk Road trade route is being revived in the hope it leads to the 'Chinese Dream'. The Silk Road evokes a resplendent past of trade uniting ports and people, cities and cultures. Now, China is pursuing an ambitious back-to-the-future plan to revive such ancient trading links with its...

Pentagon weighs sending planes, ships near disputed South China Sea reefs

The Pentagon is considering sending U.S. military aircraft and ships to assert freedom of navigation around rapidly growing Chinese-made artificial islands in the disputed South China Sea, a U.S. official said on Tuesday. Defense Secretary Ash Carter requested options that include sending aircraft and ships within 12 nautical miles (22...

The new masters and commanders

China's growing empire of ports abroad is mainly about trade, not aggression. FROM the ground, Colombo’s port does not look like much. Those entering it are greeted by wire fences, walls dating back to colonial times and security posts. For mariners leaving the port after lonely nights on the high...

Pentagon: Chinese Military Modernization Enters New Phase

China's decades-long military modernization “entered a new phase” last year under the aggressive leadership of President Xi Jinping, a new Pentagon report on Beijing’s military capabilities said today. The “sweeping transformation” includes making the formerly mass army a nimbler, more balanced force that is acquiring the kind of expeditionary...

Ethiopia has a lot riding on its new, Chinese-built railroad to the sea

ADDIS ABABA, Ethi­o­pia — The sleek, white train glides through the hilly Ethiopian countryside, the first to travel this route in nearly a decade. The contrast is stark as the new, Chinese-made electric train passes horse-drawn carriages, oxen hauling plows and crowds of curious village children. But soon it crosses...

Yuan Gains as China Foreign Reserves Decline Less Than Forecast

The offshore yuan rose toward a two-month high after China reported a smaller-than-estimated decline in its foreign-exchange reserves, a sign that capital outflow pressures are easing. The stockpile shrank $43.3 billion in September, less than the $57 billion drop predicted in a Bloomberg survey of economists. The hoard, still the...

China starts work on $50 bln Asian Infrastructure Investment Bank

China has begun preparations to set up a multilateral bank to fund infrastructure projects in Asia, the finance ministry said on Friday, looking to tap into demand for infrastructure growth as regional economies develop. In a statement, the ministry said the planned Asian Infrastructure Investment Bank would have a capital...

Washington’s Nightmare Comes True: The Russian-Chinese Strategic Partnership Goes Global

The Russian-Chinese strategic partnership (RCSP), indoctrinated in 1996, is Eurasia’s geopolitical anchor in the 21st century, shaping its evolution and entrance into the Multipolar World. No other political relationship between the two continents’ actors even comes close, with the RCSP’s only formidable rival being the US via its privileged...

Xi, Putin meet on promoting SCO’s regional role

TASHKENT, June 23 (Xinhua) -- Chinese President Xi Jinping and his Russian counterpart Vladimir Putin met here Thursday on enhancing bilateral ties and promoting the Shanghai Cooperation Organization (SCO)'s role in regional development and security. The two heads of state met briefly late Thursday ahead of the 16th SCO summit...

China Quietly Prepares Golden Alternative to Dollar System

China, as current chair of the G-20 group of nations, called on France to organize a very special conference in Paris. The fact such a conference would even take place in an OECD country is a sign of how weakened the hegemony of the US-dominated Dollar System has become. On...

International railway promises to revive Silk Road

New town and launch of regular trains to boost modernized trading routes between East and West, Tan Yingzi reports from Chongqing Legend has it that Chinese emperor Han Wu Di (156-87 BC) once looked to the lands west of his vast empire and proclaimed them full of people who placed...

The Coming War on China

When I first went to Hiroshima in 1967, the shadow on the steps was still there. It was an almost perfect impression of a human being at ease: legs splayed, back bent, one hand by her side as she sat waiting for a bank to open. At a quarter...

Why the US Is Trying to Squash China’s New Asian Infrastructure Investment Bank

The U.S. has been lobbying Asian nations to persuade them to reject China’s Asian Infrastructure Investment Bank. The U.S. has been working behind the scenes to kill a Chinese proposal for a regional infrastructure bank in Asia, according to the New York Times. As The Diplomat has reported in the past,...

Analysts still bearish on gold despite boost from yuan’s devaluation

Bullion's attraction seen dull for the long term as increase in US interest rates looms. Analysts remain bearish on the long-term outlook for gold despite the precious metal's gain on the back of the yuan's devaluation last week, as a looming interest rate rise in the United States is expected...

After Piraeus Port, China’s COSCO eyes Greek trains to build Europe hub

ATHENS/SHANGHAI, China's COSCO is expected to make an offer for Greece's rail network after becoming the sole bidder for the country's largest port, two people familiar with the matter said, as the state owned shipping giant forges ahead with a plan to build a European transhipment hub. Buying TRAINOSE and...

China central bank injects $12.3 bn through 7-day reverse repos

China's central bank on Wednesday pumped more money into the market to ease a liquidity strain and aid the slowing economy. The People’s Bank of China (PBOC) conducted 80 billion yuan ($12.3 billion) in seven-day reverse repurchase agreements (repo), a process in which central banks purchase securities from banks with...

Trillions in Murky Investments Could Rock China’s Economy

A Shanghai investment firm is offering a fat return of up to 10 percent a year, handily beating both the local stock market and the paltry payouts from bank accounts. It requires a minimum deposit of about $15, making it accessible to just about anyone. Investors can pull out...

China has crossed a major investment threshold that is going to change the entire...

Back in October, the Financial Times wrote that China's outbound investment will soon surpass the amount invested inside the country, marking a new step in the rise of this new economic power. "This is just a matter of time; if it doesn’t happen this year then it will happen in...

Chinese Stocks Just Lost 10 Times Greece’s GDP

"What happens in China will turn out to be far more consequential than any sting that Greece may deliver," says HSBC's Neumann. As Europeans hold their breath awaiting a referendum that will help determine Greece's future in the euro zone, a stock market slump on the other side of the...

Forecasting the Aftermath of a Ruling on China’s Nine-Dash Line

A tribunal is likely to rule on China's hazy claims to South China Sea sovereignty. How Beijing and others react isn't set in stone. The arbitration tribunal of five impartial experts that has been considering the Philippines suit against China under the U.N. Convention on the Law of the Sea...

Japan, Philippines to hold first naval drill in South China Sea

Japan and the Philippines will hold their first joint naval drill this month in the South China Sea near a disputed shoal claimed by Beijing, sources in Tokyo and the Philippines said. The May 12 maritime safety exercise, which will practice the code for unplanned encounters at sea, known as...

Capital flight pushes China to the brink of devaluation

Beijing cannot keep burning through reserves at a record pace to defend the yuan and at the same time loosen monetary policy. It has to choose. China is perilously close to a devaluation crisis as the yuan threatens to break through the floor of its currency basket, despite massive intervention...

Yuan Soars Most In A Month Ahead Of National People’s Congress

With all western eyes firmly focused on US payrolls tomorrow, China is preparing for the biggest leadership gathering of the year this weekend. Offshore Yuan (USDCNH) is soaring (up over 5 handles in the last 24 hours) ahead of The National People's Congress as PBOC Deputy Governor hinted at...

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