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All posts by RWZ

People’s Daily: China Needs More Higher Level “Opening Up”

People’s Daily recently reported that Ning Jizhe, Deputy Director of China’s National Development and Reform Commission, mentioned in a speech that China must raise its level for its “Opening Up” long-term policy. Ning pointed out that the Chinese economic growth is now switching its focus from speed to quality, which calls for more exchange on the technology, capital, talent, management, and information level. Chinese competitiveness must improve to break out of the medium or lower level in the international value chain. China’s sustained growth depends on efficient development of the international market and the strength of innovation. Ning recommended that “Opening Up” on a higher level should include a balance between imports and exports, should encourage and help capable domestic companies to expand their international reach, should connect domestic regional development and international marketing, and should look inland and push more towards the west side of China.

Source: People’s Daily, November 12, 2017
http://finance.people.com.cn/n1/2017/1112/c1004-29640729.html

China News: Chinese Cross-Border E-Commerce Recorded Rapid Growth

China News recently reported that, based on the newly released Ministry of Commerce international trade report, in the first half of this year, Chinese cross-border e-commerce trade volume reached RMB 3.6 trillion (around US$542 billion). This represents a 30.7 percent year-over-year growth. Among the RMB 3.6 trillion, RMB 2.75 trillion was the total for exports. International e-commerce has become the primary growth engine for China’s international trade. The Chinese government has established the strategy to support China’s international e-commerce industry so it will scale up, standardize, enhance industrial clustering, and be structured more properly. The Chinese strategy focuses on technology, logistics, business model innovation, and cooperation with foreign partners. The goal is to participate actively in forming the international standards and to blend into various international retail systems. Analysts expressed their belief that China’s plan can take good advantage of China’s manufacturing power to expand international sales channels.

Source: China News, November 7, 2017
http://www.chinanews.com/cj/2017/11-07/8370579.shtml

The Americans Entered Russian Nuclear Submarine in India

Well-known Chinese news site Sina recently reported, based on Russian media sources, that representatives from the U.S. Navy were allowed to enter the Russian nuclear submarine Chakra, which has been serving in the Indian Navy under a long-term lease agreement. Earlier, the Americans had been allowed to visit the Vikramaditya aircraft carrier (formerly named Admiral Gorshkov), which caused Russia to protest. However, it is India that owns the aircraft in its entirely. The Russians considered the Chakra entry to be a political gesture and questioned why the Indians created such an unfriendly incident. Some members of the U.S. Navy delegation were well-trained submarine experts. Observers expressed their concerns about any serious impact it might have on the on-going negotiations between India and Russia for a second submarine lease as well as the plan for the joint construction of fifth-generation fighter jets.

Source: Sina, November 10, 2017
http://news.sina.com.cn/o/2017-11-10/doc-ifynsait6953976.shtml

Lianhe Zaobao: 27 Countries on “The Belt and Road” Have “Garbage” Level Sovereign Credit Ratings

Singapore’s primary Chinese language newspaper Lianhe Zaobao recently reported that a number of international studies have shown that most of the projects under China’s grand “The Belt and Road” plan do not show sound financial returns. When the top three international rating agencies ranked the 68 partner countries China included in “The Belt and Road” plan, 27 showed they suffered from “Garbage” level sovereign credit. Among the rest of the countries, 14 (including Afghanistan, Iran and Syria) either were not rated, or the respective governments withdrew their rating requests. “The Belt and Road” plan estimates that, over a ten year period, it will achieve a spending level of US$1.2 trillion on such infrastructure projects as railways, roads, ports, and power grids. Financial and banking experts suggested that it would be a better idea to classify the plan as a geopolitical investment rather than a profitable financial program. China has so far spent or committed to spend over US$500 billion, which does not include large commercial bank loans. The source for most of this spending is China-backed investment funds.

Source: Lianhe Zaobao, October 28, 2017
http://www.zaobao.com.sg/finance/china/story20171028-806533

RFI Chinese: Chinese Drug Lords Replace South Americans as Primary U.S. Drug Suppliers

Radio France Internationale (RFI) recently reported that U.S. President Trump declared national public health emergencies twice this year because of the opioid epidemic. According to the U.S. Drug Enforcement Administration and The White House Office of National Drug Control Policy, China is the supplier of almost the entire source of opioid type drugs, the main one being Fentanyl. Fentanyl is around ten times stronger than Heroin. Proven records show that at least 12 Chinese drug companies have had online commercials claiming they could export Fentanyl to the United States and Canada for US$2,750 per kilogram. Most of the Chinese Fentanyl was first shipped to Mexico and then smuggled into the United States. The Chinese supplied all of the opioid drugs that a recently captured New York 34-person drug dealership retailed. In fact, all of the drug cartels that were cracked down on this year sourced their opioid drugs from China. The latest illegal marijuana-planting group arrested in California after the state’s legalization of marijuana was Chinese and Chinese sources funded the group.

Source: RFI Chinese, October 31, 2017
http://bit.ly/2A85LSA

North Korean Nuclear Test Site Collapses Causing 200 Deaths

Major Taiwanese news group Eastern Media International recently reported, based on sources from North Korea, South Korea, and Japan that North Korea’s Punggye-ri Nuclear Test Site suffered a major mountain structural change. This resulted in large-scale collapses of the underground tunnels for nuclear tests. North Korea completed its sixth nuclear test on September 3. A collapse occurred around September 10 burying around 100 workers. During the rescue mission, a second collapse took the lives of roughly another 100, mainly rescue staff. South Korean officials thought that, after the last test, the nuclear site had a big hole, the size of around 100 meters. If North Korea conducts more nuclear tests under the current conditions, serious radioactive leaks may occur. Three small scale earthquakes occurred after the last nuclear test. Scientists expressed the belief that structural collapses caused those quakes.

Sources: Eastern Media International, October 31, 2017
https://www.ettoday.net/news/20171031/1042620.htm

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