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All posts by RWZ - 215. page

Li Keqiang: China and India Are Creating the World’s New Economic Engine

China News recently reported that Chinese Premier Li Keqiang stated at a press conference in New Delhi that the rapid development of China and India is creating the new growth engine of the world. Li made the comment after meeting with Indian Prime Minister Manmohan Singh on May 20. This is the first time Li has visited a foreign country as the Chinese Premier; India was his first stop. The two leaders issued a joint statement confirming a wide range of areas of cooperation as well as a strategic consensus and mutual trust. The two parties recognized that mutual economic growth is a major opportunity and that a peaceful China-India relationship will be a “new bright spot” in Asia. The two nations also signed cooperation agreements during Li’s visit. The main areas covered included trade, agriculture, environmental protection, and local cultural exchanges. 
Source: China News, May 20, 2013
http://www.chinanews.com/gn/2013/05-20/4837472.shtml
Briefings | | |   Geo-Strategic Trend

People’s Daily: RMB Appreciation Hits New Highs

People’s Daily recently reported that the Chinese currency (RMB) exchange rate reached a new high in ten of the trading days in April. This was the largest round of appreciation since 2005. The appreciation level so far this year was over six times more than the level of the entire last year. However, the report expressed the belief that, based on the basic data of the Chinese economy, this round of RMB appreciation seems to be overheated. The State Administration of Foreign Exchange recently announced regulations to tighten up control over foreign exchange inflow. This move effectively cooled down the inflow of hot money, which was widely considered to be the result of the monetary “easing” policies of Japan, the U.S., and the European Union. Experts suggested that the appreciation may become an obstacle for Chinese exports and that the RMB has room for depreciation.
 
Source: People’s Daily, May 11, 2013
http://theory.people.com.cn/n/2013/0511/c40531-21447088.html
Briefings | | |   Economy/Resources

Nanfang Daily: State Council Considering Individual Overseas Investment System

Nanfang Daily, a daily newspaper based in the City of Guangzhou, recently reported that the State Council Executive Meeting discussed a plan to open the option for individuals to invest directly overseas. Currently only some approved organizations (QDII) are permitted to make direct overseas investments. A plan for direct individual investments to be made into the Hong Kong stock market was attempted in 2007, but was called off. It was decided that a new international investment system for individuals will be established with a carefully designed protection mechanism for medium and small investors. A clear plan for opening up capital accounts was also discussed at the Executive Meeting. The French bank Societe Generale recently released a report pointing out that, based on a series of steps the Chinese State Council took, “a five-year road map to a freely exchangeable Chinese currency (RMB) is very clear.” The Hong Kong Stock Exchange is expected to be the biggest winner of these new policies. 
Source: Nanfang Daily, May 8, 2013
http://news.nfdaily.cn/caifu/content/2013-05/08/content_68409983.htm
Briefings | | |   Economy/Resources

BBC Chinese: China Cautiously Mediating Peace in Middle East

BBC Chinese recently reported that Palestinian leader Mahmoud Abbas and Israeli Prime Minister Benjamin Netanyahu both visited Beijing in the same week. However, neither of the two sides nor the new Chinese President Xi Jinping seemed to be ready to start a negotiation with China being the mediator. Meanwhile, Xi Jinping did offer a four-point peace proposal. Although Xi’s proposal does not have anything new or creative, the report expressed the belief that he was somewhat playing a mediator’s role, with caution. When Chinese Premier Li Keqiang met with Netanyahu, he suggested that the sole solution to the Middle East peace and stability issue is conducting dialogues and peace talks. Li also mentioned that China is willing to work with the two sides on the peace-making effort, since China is a common friend of both. China has a US$10 billion annual trade volume with Israel and half of China’s annual oil imports are from the Middle East region. 
Source: BBC Chinese, May 9, 2013
http://www.bbc.co.uk/zhongwen/simp/press_review/2013/05/130509_press_review_china_middleeast.shtml
Briefings | | |   Geo-Strategic Trend

BBC Chinese: EU Planning Punitive Tariffs against Chinese Photovoltaic Products

BBC Chinese recently reported that the European Union is preparing to impose punitive tariffs on photovoltaic products imported from China that are worth billions of dollars. It is widely expected that these trade protections will anger China. The EU is trying to protect key European vendors such as the German company SolarWorld. The Chinese government has already said that China will not remain quiet and have no reaction. The output of Chinese photovoltaic products quadrupled between 2009 and 2011. Products made in China currently occupy 80 percent of the EU market. The EU market is half the size of the global market, which is worth $77 billion. The EU Trade Commission is getting ready to implement the anti-dumping measures; it claims there is sufficient evidence to support this action. 
Source: BBC Chinese, May 3, 2013
http://www.bbc.co.uk/zhongwen/simp/world_outlook/2013/05/130503_eu_china_solar.shtml
Briefings | | |   Economy/Resources

RFA: Canada Attacked at UN Human Rights Forum

Radio Free Asia (RFA) recently reported that, at the United Nations Human Rights Forum, China, North Korea, Iran, and Russia attacked Canada’s human rights situation. North Korea expressed its “deep concern” about Canada’s continued violation of freedom of speech, torture, and racism. Iran accused the Canadian government of trafficking in children, of depriving children of their right to food, and of discriminating against Muslim, Arabic and African communities. The Chinese delegation was offended by Canada’s “widespread racism.” The Russian representative said that he was surprised by the violence that the Canadian police demonstrated. The Cuban government insisted that Canada suffers from serious xenophobia and racism. The Geneva-headquartered independent organization, UN Watch, described the UN Human Rights Forum as becoming a “wonder scene” of “hypocrisy and farce.” The Canadian government has already allowed the entry of three UN inspectors to check on Canada’s human rights record. 
Source: Radio Free Asia, May 2, 2013
http://www.rfa.org/mandarin/yataibaodao/renquanfazhi/to-05022013140905.html
Briefings | | |   Government/Politics

Qiushi:Sources of Risk for Internet-Based Public Opinion Emergency Events

Qiushi Journal, a bi-weekly magazine published by the Central Committee of the Chinese Communist Party, recently published an article discussing how to control online public opinion. Since 2012, China has had over 300 million users, making it the largest online microblogging country in the world. At the same time, the number of public opinion “emergency events” has increased significantly. The article suggested that control should be applied to the sources of the risk. The author summarized eight primary sources: (1) Events related to government official’s misconduct; (2) Events triggered by wealth gaps in society; (3) Events inflamed by abuse of police power; (4) Corruption; (5) Sex scandals; (6) Events involving violence; (7) Widespread counterfeiting; (8) Unfairness against vulnerable social groups. The article called for closer government monitoring of these sources in addition to technical methods such as keyword filtering.
Source: Qiushi Journal, May 2, 2013
http://www.qstheory.cn/sh/shjs/201305/t20130502_227206.htm
Briefings | | |   Social Stability

Xinhua: North Korea Asks Mongolia for Food

Xinhua recently published a report on aid to North Korea based on a number of different international media sources. On April 22, the North Korean Ambassador to Mongolia told the Mongolian President that North Korea “may soon face a very serious food shortage.” He asked if Mongolia would consider the possibility of providing assistance in the form of food. Korea shares a common cultural heritage with Mongolia, such as their ancient language. On the same day, the United States suggested that it would consider resuming food aid as long as North Korea would allow personnel from the U.S. to monitor the distribution and allocation of the food provided by the U.S. The United States recently refused the acknowledgement of North Korea’s status as a nuclear country.
Source: Xinhua, April 24, 2013
http://news.xinhuanet.com/2013-04/24/c_124622524.htm
Briefings | | |   Geo-Strategic Trend