Xi Jinping has been talking about focusing on “a few key people” to improve how his policies are carried out and to prevent corruption. According to Xinhua, the term “a few key people” mainly refers to the Politburo members.
The South Korea Company Lotte stated on the 20th that its position on the land exchange for the deployment of the “THAAD” anti-missile system with the Korean government has remained firm. It plans to hold a board meeting at the end of this month to sign the agreement. China’s state media Global Times published an article threatening that Lotte should prepare for the consequences.
The article said, “Since China cannot change Lotte’s decision, Chinese society is also firmly determined to let Lotte pay the price for its support of the deployment of ‘THAAD.’ This kind of company that directly serves the deployment of ‘THAAD’ and damages the interests of China, should stay far away from China.”
The article revealed that once Lotte decided to exchange its land with the Korea military for the employment of “THAAD” and the news was revealed last year, Lotte’s business in China had already been affected. The development of Lotte World in Shenyang was suspended; also, Lotte’s official flagship store in the [online platform of Alibaba’s] Taobao closed down. Three Lotte supermarkets also closed.
Source: Global Times, February 21, 2017
Global Times, a subsidiary of People’s Daily Online published an analysis of the U.S. aircraft carrier and guided-missile destroyer deployed over the weekend to patrol the South China Sea. The analysis appeared on February 20 in the military section of the website of the Chinese Communist Party’s official newspaper.
It cited the U.S. Navy’s press release issued on February 18 that the USS Carl Vinson carrier entered the South China Sea on Saturday.
The analysis cited an article from Japan Times that China watchers believe Washington intends to gauge the Chinese response and then conduct a more beefed up freedom of navigation operation.
Analysts told Global Times reporters that U.S. warships’ patrolling in the South China Sea is different in nature from their entering the adjacent waters of islands in the area. China’s navy has maintained a normalized patrol in the waters of the Nansha Islands, also known as the Spratly Islands. It is paying minute to minute attention to see whether US warships will make any risky moves.
The analysis mentioned an earlier report from U.S.-based Navy Times, that, according to several Navy officials, the U.S. Navy is planning fresh challenges to China’s claims in the South China Sea. It is sailing more warships near the increasingly militarized man-made islands that China claims as its sovereign territory in order to ratchet up potentially provocative operations in the South China Sea. The military’s plans also likely call for sailing within 12 nautical miles of China’s newly built islands in the Spratly and/or Paracel islands.
China’s Foreign Ministry spokesperson Geng Shuang said in the routine press conference on February 15, “China always respects the freedom of navigation and overflight of all countries in the South China Sea in accordance with international law, but we oppose those who threaten and harm China’s sovereignty and security under the pretext of freedom of navigation and overflight.”
Global Times reporters noted that China’s Ministry of Defense has made no official response regarding this latest development. Global Times‘ interpretation is that China is more at ease when confronting U.S. military intimidation coupled with media hype.
Source: People’s Daily Online, February 20, 2017
Japan Times, February 19, 2017
Xinhua recently published three consecutive commentaries warning about the “American risks,” especially the risks that Wall Street poses. The first commentary is titled “Is Wall Street Brewing a New Crisis?” The article warned that the whole landscape of economic optimism, the appreciating dollar, and a rapidly growing stock market, seems to be déjà vu all over again, just like the days before the last global crisis. People should not underestimate Wall Street’s greed. The second commentary pin-pointed the question, “Will Deregulation Trigger a New Crisis?” The commentator suggested that, since President Trump promised deregulation of the financial market along with plans for a tax cut and major infrastructure investments, Wall Street has been enjoying a “rave party.” The combined stimulation package could increase the risks to a dangerous level. The third commentary asked, “Why Are the Wounds from the Previous Crisis So Difficult to Heal?” The author quoted the International Monetary Fund (IMF) which stated that the advanced economies responded to the earlier Crisis with public financial stimulation like the Quantitative Easing (QE) policies. These policies introduced high debt, low investment and a fragile financial industry across the globe. The structure of the U.S. financial system originally caused a lack of investment and consumer spending and slowed the recovery from the previous crisis.
Source: Xinhua, February 15, 2017
BBC Chinese recently reported that the Chinese Ministry of Commerce announced on February 18 that it will ban coal imports from North Korea. China’s announcement explained that this ban was to implement UN Resolution 2321. The ban will remain effective until the end of this year. Observers around the world expressed the belief that this Chinese ban is the response to North Korea’s missile launch on February 12. It may also be the answer to the assassination of North Korean leader Kim Jong-un’s brother Kim Jong Nam in Kuala Lumpur on February 13. This new coal ban is a very important development since coal is the single most critical export product of North Korea and China has bought nearly all North Korean coal exports. The income from coal exports is considered an important pillar of North Korea’s economy. Previously, China promised to implement the UN resolution only under the condition that the sanction should not have a damaging impact on the civilian population of North Korea.
Source: BBC Chinese, February 18, 2017
China News recently reported that Xi Xiaoming, the former Vice President and Justice of the Supreme People’s Court of China, was sentenced to life in prison, deprived of his political rights for life, and had all of his personal property confiscated. Xi was accused of corruption and of accepting bribes worth over RMB 115 million (around US$ 16.7 million). Because Xi’s relatives accepted and consumed most of the money, the court ruled that his punishment would be lighter. Xi pled guilty and accepted the rulings in court. He has decided not to appeal. Between 1996 and 2015, Xi Xiaoming served in the Supreme People’s Court as the Vice President, judge of the Court for Economic Trial, judge of the Second Court for Civil Trial, and a Member of the Judicial Committee.
Source: China News, February 16, 2017