Wednesday, October 17, 2018

Tag: Asian Infrastructure Investment Bank

Philippines open for business with China, says finance minister

Opportunities for the two countries to cooperate on infrastructure, says Carlos Dominguez. The Philippines' new government plans to court Chinese investment to fund an ambitious infrastructure programme, the latest sign of warming ties between the two nations that have been at loggerheads over territorial claims in the South China Sea. “The...

BRICS bank, AIIB ready to follow China by financing Moscow-Kazan high-speed railroad

The total cost of the Moscow-Kazan high-speed railway line is estimated at $16.9 bln, while the section may later be extended to China, connecting the two countries across Kazakhstan. SOCHI, June 3. /TASS/. The New Development Bank BRICS (NDB BRICS) and Asian Infrastructure Investment Bank (AIIB) are ready to follow...

China’s New Silk Road Into Europe Is About More Than Money

Beijing is spending billions on new ports and rail lines, but its ambitions for Europe are as much about geopolitics as commerce. China is actively building out the European portion of its ambitious new “Silk Road” plan, with port deals from Greece to the Netherlands, railroad investments in Greece, Serbia,...

The Silk Road railway will not work without Poland

The Ukrainian state-owned railways have recently presented a project of a possible branch of the New Silk Road railway. It would connect Ukraine and Europe with Iran, thereby facilitating commercial contacts with various states of the Persian Gulf and even India. Now they need Poland. For the time being, the launch...

India Acts East

Washington’s pivot to Asia gets all the attention, but India's pivot east will redefine regional politics. Washington’s Asia rebalance, first articulated by President Barack Obama in a 2011 speech to Australia’s parliament, has received ample attention. India’s envisioned pivot to Asia has garnered far less. Nonetheless, India’s planned pivot is freighted with significance for the country’s economic prospects,...

In Odyssey for Chinese, Greece Sells Its Fabled Port of Piraeus

With the sale, China’s state-owned COSCO aims to turn a once-sleepy port into the “dragon’s head” of the New Silk Road. Beijing’s ambitions to build a modern-day “Silk Road” connecting China, Central Asia, and Europe took a big step forward Friday when Chinese state-owned shipping giant COSCO finally sealed a...

India seeks $500 million loan from AIIB for solar power projects

India has set an ambitious target of having 100 GW solar power generation capacity by 2022 under the National Solar Mission. India has sought $500 million from the newly created, China-led Asian Infrastructure Investment Bank (AIIB) for solar power projects. "We have applied for $500 million funding from AIIB. Besides, $1...

China is spending nearly $1 trillion to rebuild the Silk Road

Two weeks ago, a 32-container train from Wuyi, China arrived in Tehran, Iran. You might think the arrival of cargo by rail would be no big deal, but in this case you’d be wrong. This was the first journey of its kind between the two cities, and it shortened...

Iran Makes Trade, Not War, with Eurasia

If the intent of the Obama Iran strategy was to woo the great Persian nation to the West in a complex geopolitical game, and turn her against Russia, China and the emerging Eurasian Century being constructed around China’s One Belt, One Road project, it is emerging as another colossal...

Is China Being Wooed by Fantasies of Western Acceptance?

In the area of finance and creation of new financial institutions much hope of many nations has been placed on China. Last year China played a catalytic role in helping establish a new BRICS Infrastructure Development Bank to finance infrastructure projects in select emerging economies. Soon after Beijing announced...

The Belt and Road Initiative

The Belt and Road Initiative refers to the Silk Road Economic Belt and 21st Century Maritime Silk Road, a significant development strategy launched by the Chinese government with the intention of promoting economic cooperation among countries along the proposed Belt and Road routes. The Initiative has been designed to...

China establishes rival to World Bank

The Asian Infrastructure Investment Bank (AIIB) has been formally established. The China-backed Asian Infrastructure Investment Bank (AIIB), viewed by some as a rival to the World Bank and Asian Development Bank, was formally established on Friday, according to a statement issued by Beijing. The United States and Japan - the world's...

China seeks reform, not revolution, of current international order

SINGAPORE - A famed China expert said Tuesday that China is seeking to reform the current US-defined international order, rather than revolutionize it. Zheng Yongnian, director of the East Asia Institute of National University of Singapore, said in a column on the local Lianhe Zaobao newspaper that what China has...

The IMF Changes its Rules to Isolate China and Russia

The nightmare scenario of U.S. geopolitical strategists seems to be coming true: foreign economic independence from U.S. control. Instead of privatizing and neoliberalizing the world under U.S.-centered financial planning and ownership, the Russian and Chinese governments are investing in neighboring economies on terms that cement Eurasian economic integration on...

China Carefully Moving to Displace Dollar

While Washington seems obsessed with trying to humiliate China’s President Xi Jinping and make him lose face, sending warships into Chinese territorial waters in the South China Sea just days after Obama’s White House meeting with President XI, and other provocative acts, Britain’s government is taking advantage of 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-UK Joint Declaration on Building a Global Comprehensive Strategic Partnership for the 21st Century

At the invitation of Her Majesty Queen Elizabeth II of the United Kingdom of Great Britain and Northern Ireland, His Excellency President Xi Jinping of the People's Republic of China undertook a State Visit to the UK from 19 to 23 October 2015. During the visit, President Xi was...

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...

China’s is using Islamic finance to expand its new Silk Road

Islamic finance is gaining prominence as a channel for China to expand its economic influence abroad as banks strengthen ties with Muslim-majority countries and Chinese companies start to tap offshore pools of Islamic funds. With a Muslim population of about 20 million, China has little reason to develop Islamic banking...

The Worth of Gold Growing by the Day

The worth of gold in the world is growing by the day. That might seem like a paradox but it isn’t. The worth of gold is not fixed on the Comex futures exchange, or the trade in London or Zurich. True, most of the gold-trading public takes its cue...

China’s Global Ambitions, Cash and Strings Attached

EL CHACO, Ecuador - Where the Andean foothills dip into the Amazon jungle, nearly 1,000 Chinese engineers and workers have been pouring concrete for a dam and a 15-mile underground tunnel. The $2.2 billion project will feed river water to eight giant Chinese turbines designed to produce enough electricity...

Why Russia’s turn to China is a mirage

On July 8 and 9, Russia hosts Chinese, Indian, Brazilian and South African leaders at the annual BRICS summit in the Russian republic of Bashkortostan. The conference takes place at a time when Russia's rift with the West over Ukraine has sparked some concerns that Moscow might turn its...

Building the New Silk Road

Introduction More than two thousand years ago, China's Han Dynasty launched the Silk Road, a sprawling network of commerce that linked South and Central Asia with the Middle East and Europe. Today, the idea of a "New Silk Road," an intertwined set of economic integration initiatives seeking to link East...

China’s Offering a World Bank Alternative – and U.S. Allies Are Signing Up

Beijing is only too happy to offer an alternative to Western-dominated international finance. What's more surprising is that leading Western economies are signing up. “With friends like this, who needs enemies?” This must be what Washington policymakers muttered to themselves following the decision by their allies in London, Paris, Rome, and...

China Makes Multibillion-Dollar Down-Payment on Silk Road Plans

China's unveiling of a $28-billion infrastructure investment package for Pakistan on Monday offers an early glimpse into how Beijing plans to finance its ambitious vision for a modern reconstruction of the Silk Road. After decades of shying away from aggressive foreign policy moves, China is attempting to play a much...

Iran and the Middle East: Who’s Afraid of Russia’s S-300 Air Defense System?

The executive order issued by Russian President Vladimir Putin, which lifts the ban on the export of weapons systems to Iran, has been met with sharp condemnation by Israel, and admonishment from the United States. While Moscow has yet to make a final decision on if/when it will begin supplying the...

Australia Caught in Middle of US-China Power Tussle

Canberra could struggle to balance its interests as tensions rise over the AIIB and TPP. Tensions between the United States and China over the Chinese-led Asian Infrastructure Investment Bank (AIIB) are the next embodiment of a hard and soft power battle for economic and political dominance in the Asia-Pacific, and...

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...

China’s One Belt One Road Initiative: What we know thus far

President Xi Jinping launched China's “One Belt, One Road” (OBOR) initiative in 2013 with the stated aim to connect major Eurasian economies through infrastructure, trade and investment. The initiative was later specified to contain two international trade connections: The land-based "Silk Road Economic Belt" and oceangoing "Maritime Silk Road." The “Belt” is...

Dollar Hegemony and the Iran Nuclear Issue: The Story behind the Story

“International treaties are being held hostage by the west. There has been a lot of interference inside Iran by Washington. The nuclear issue is just an excuse to undermine the Islamic Republic and has very little to do with anything else.” - Interview with RT by Soraya Sepahpour-Ulrich, 6 April 2015. This...

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