Chinascope – Page 1243

Chinese RMB Becoming Hard Currency?

Chinese currency is quickly being adopted as settlement currency, claimed International Herald Leader under Xinhua on February 16, 2009. Since Dec 2008, China has entered into agreements with eight of its neighboring countries including Vietnam, Myanmar, Russia, Mongolia and South Korea to use Chinese RMB as settlement currency. On Feb 8, 209, China entered into a currency exchange agreement with Indonesia worth 80 billion yuan which allows Indonesians to borrow RMB at banks in Indonesia. China views the international financial crisis an opportunity to “internationalize” its currency to make further inroads into the international economies.

Source: Xinhua, February 16, 2009
http://news.xinhuanet.com/herald/2009-02/16/content_10825739.htm

Briefings | | February 26, 2009 | Economy/Resources

Xinhua: Pressure by Western Countries Can Not Stop China and Congo’s Cooperation

Reporter of Xinhua’s International Herald Tribune reports from Congo’s capital Kinshasa that the road maintenance project co-operated by China Enterprises United Inc. and Congo’s is under way normally. The reporter describes that the warm atmosphere of Chinese engineers and the local workers working together forms a stark contrast with the (Western) reports that the “project is being stopped.” The report says that Western countries regard Congo as their territory of interests because of Congo’s rich natural resource and important geographic location. Western countries tried to interfere since the beginning of the negotiation of cooperation between China and Congo. They pressured Congo government through their controlled World Band and IMF. The report further says that Congo government resisted the pressure from the West and welcomed the China’s help. Now the preparation phase of the projects is progressing on normal track.

Source: Xinhua, February 17, 2009
http://news.xinhuanet.com/herald/2009-02/17/content_10831601.htm

Briefings | | February 24, 2009 | Geo-Strategic Trend

Xinhua Downplays Criminal Charges Against Chinese Woman for Illegal Export

Xinhua comments on the recent criminal charges in the U.S. against a Chinese woman in Maryland. She was charged with exporting miniature controls for small, unmanned aircraft to China. Xinhua article stated that the alleged dual use aircraft has not yet been put to use by military thus it is far fetched to charge her for assisting Chinese military. Further, Xinhua stated that the case might be viewed as racial discrimination since Mr. Hansen, who played a more active role in the export and works at Walter Reed Army Medical Center, has not yet been charged in the case. “In fact, spy cases related to China are common in the U.S., most of which have acquitted defendants,” said Xinhua.

Source: Xinhua, February 19, 2009
http://news.xinhuanet.com/overseas/2009-02/19/content_10848849.htm

Briefings | | February 20, 2009 | US-China Relations

State Public Relations: Transition from the Defensive to the Offensive

Starting from the Olympics in 2008 China has moved to the offensive in its public relations, wrote a government think tank, the Institute of Public Communications of the Remin University of China. From SARS in 2003 to Tibetan violent crackdown in March 2008, China was passive in public relations during crises. However, the Olympics in August 2008 served as a turning point when China changed to the offensive. In subsequent crises such as toxic milk powder and current international financial crisis, China was more proactive and quickly controlled the situation. The article recommends three PR weapons available to the State: media, visits and speeches by overseas leaders, and statements by Chinese celebrities such as Yao Min (athlete), Zhang Ziyu (actress), Jackie Chan (actor) and Jet Li (actor).

Source: Xinhua, February 3, 2009
http://news.xinhuanet.com/herald/2009-02/03/content_10755014.htm

Briefings | | February 19, 2009 | Government/Politics

Study Times: China To Internationalize Its Currency

China should take advantage of international financial crisis and push to “internationalize” the Chinese Renminbi, says Study Times, journal of the School of the CCPC February 16, 2009. The article takes note of recent State Counsel decisions on using RMB in settling commercial transactions with Hong Kong. The current international crisis has lowered the net worth in the U.S. dollar and the esteem the international communities has held for the U.S. dollar. The article recommends expanding pilot programs to use RMD as settlement currency.

Source: Study Times, February 16, 2009
http://www.studytimes.com.cn/WebPage/ny1.aspx?act=1&id=2439&nid=8801&bid=1&page=1

Briefings | | February 19, 2009 | Economy/Resources

China’s Agriculture Hit by International Crisis

2009 will likely be the most difficult year for Chinese agriculture in the 21st century, according to No. 1 Notice of the Chinese Communist Party and State Council on February 1, 2009. “At present, the international financial crisis continues to spread and the world economy is slowing down significantly. The negative impact on our Mainland China’s agriculture and countryside development has constantly emerging, said the document issued through Xinhua.

Source: China Ministry of Finance, February 2, 2009
http://www.ccgp.gov.cn/gysh/qtlb/nysb/815546.shtml

Briefings | | February 5, 2009 | Economy/Resources

Cheng Xiaonong: U.S.-China Strategic Relations Have Crystallized

Xinhua Commentaries: “Exposing the Three Major Political Deficits of the U.S.”

The CCP’s Performing Arts Troupes in the U.S.

CCP, Master of Hostage Diplomacy