Category: China

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ICJ urged to investigate China’s treatment of Uyghurs

The ICC has jurisdiction over these crimes that commence on ICC territory and continue into China, and is urged to act immediately to open an investigation…reports Asian Lite News

In a radical step, a group of lawyers has knocked on the doors of the International Criminal Court (ICC) against China’s increasing atrocities toward Uyghurs and other Turkic Muslim populations in the Xinjiang region.

Subjecting minority groups to genocide, including mass arbitrary detention, forced labour, torture, forced sterilization, separation of children from parents and destruction of minority culture, China has been a major cause of human rights abuses against the community, reported local media.

However, Beijing has vehemently denied all accusations of human rights abuses in the region and says that all ethnic groups in Xinjiang live happily.

The lawyers, who represent Uyghurs in exile, said that on Monday they presented the ICC with new evidence of Beijing’s efforts “to round up Uyghurs in neighbouring countries, including an ICC member state, and elsewhere, to force them back” to China.

“It also very sadly shows what happens to them once back in detention camps,” lead lawyer Rodney Dixon said in a statement emailed to VOA.

The ICC has jurisdiction over these crimes that commence on ICC territory and continue into China, and is urged to act immediately to open an investigation, newsletter, global security.org stated.

This is the third dossier of evidence submitted to the ICC by the legal team since it filed an initial complaint two years ago.

The complaint was submitted on June 6, 2020, and the submission of additional evidence took place on July 10, 2021; November 2021; and this past Monday, according to the legal team.

After the first submission of evidence, ICC prosecutors said the court was unable to take up the case because the alleged abuses happened in China, which is not an ICC member state.

The last submission of evidence to ICC includes “firsthand evidence from a witness” who was deported to China, detained in internment camps and subjected to “interrogation and torture” before escaping from China in 2018, globalsecurity.org said, citing the lawyers.

“It shows that the Chinese government is implementing a policy of rounding up Uyghurs and other ethnically Turkic people from outside China, including ICC member states such as neighbouring Tajikistan, and forcefully deporting them back to China,” the legal team said in a statement provided to VOA.

Other Uyghur witnesses who fled from Tajikistan to Turkey in 2018 described how China pressured police and immigration officials in Tajikistan to deport Uyghurs back to China.

For over two decades, Uyghurs living outside China have faced efforts by Chinese authorities to pressure foreign governments to detain and forcibly transfer them back to China.

Research shows that more than 1,500 Uyghurs, including many who are human rights defenders, have been detained or forcibly returned to China where many have faced imprisonment and torture in custody.

Since 2016, the Chinese government has intensified repression and carried out a policy of mass, arbitrary detention of Uyghurs and other Turkic peoples, subjecting them to severe policies including the prohibition of most religious, linguistic, and cultural practices; state-sponsored forced labour; imprisonment; and forced sterilization and birth prevention policies. (ANI)

ALSO READ: Philippines cancels China talks for joint energy exploration

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Philippines cancels China talks for joint energy exploration

During a speech in Manila on Thursday, Teodoro Locsin said that outgoing President Rodrigo Duterte had ordered the complete termination of the discussions….reports Asian Lite News

The Philippines has terminated talks with China for a joint energy project in the South China Sea after President Rodrigo Duterte ordered an end to negotiations, according to a media report.

According to Teodoro Locsin, the foreign secretary of the Philippines, Manila has terminated talks with Beijing over joint oil and gas exploration in the South China Sea, NHK World reported.

During a speech in Manila on Thursday, Teodoro Locsin said that outgoing President Rodrigo Duterte had ordered the complete termination of the discussions.

The Philippines and China have conflicting territorial claims in the South China Sea. But in 2018 Duterte signed a memorandum with Chinese President Xi Jinping on joint resource exploration.

China later proposed a joint project in the Philippines’ exclusive economic zone. One condition set by Beijing was to put aside an international arbitration ruling that rejected China’s claim over most of the South China Sea.

The two countries had been discussing how to realize the plan.

“Three years on and we had not achieved our objective of developing oil and gas resources so critical for the Philippines but not at the price of sovereignty. Not even a particle of it,” Locsin has said, as per NHK World.

He also called on the incoming Philippine administration to protect the country’s sovereignty.

President-elect Ferdinand Marcos Jr is set to take office on June 30.

For decades, China has been in disputes with several countries in the Asia-Pacific region over the territorial belonging of a number of islands in the South China Sea, on the shelf of which significant reserves of hydrocarbons have been discovered.

The situation in the region is often complicated by the passage of US warships here, which, according to the Chinese Foreign Ministry, violate international law and undermine China’s sovereignty and security. Despite protests from Beijing, Washington has repeatedly said that the United States will float wherever international law permits. (ANI)

ALSO READ: Sherman meets Philippine president-elect  

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Xi to visit Hong Kong for handover anniversary

The visit to Hong Kong will be the Chinese President’s first visit outside the country since Covid-19 pandemic began, reports Asian Lite News

Chinese President Xi Jinping is set to visit Hong Kong next week to mark the 25th anniversary of the city’s handover to China, the leader’s first trip outside the country since the COVID-19 pandemic began.

Xi’s visit will include the attendance of the swearing-in ceremony of the city’s new leader John Lee.

“Xi will attend a meeting celebrating the 25th anniversary of Hong Kong’s return to the motherland,” Xinhua news agency reported. “Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, will also attend the inaugural ceremony of the sixth-term government of the Hong Kong Special Administrative Region,” the Chinese agency said.

Hong Kong authorities have banned select media outlets from covering incoming leader John Lee’s inauguration, citing COVID-19 pandemic restrictions and security reasons.

Many of the barred outlets are registered and regularly attend government press conferences, the Hong Kong Free Press (HKFP) reported.

In an event that will see the attendance of Xi Jinping, select broadcasters have been nominated. The list of excluded media outlets includes Japan’s Nikkei, Asahi Shimbun, and Kyodo News, Taiwan’s CTV, Getty Images in the US, as well as Hong Kong’s InMedia, and HKFP.

The Hong Kong Journalists Association said that it was “deeply concerned” by the move.

“[HKJA] urges the city’s authorities to be more inclusive by accepting applications from media organisations keen to attend, so that those with a considerable readership can fulfil their duty in keeping the public informed by reporting on Hong Kong’s historic moments,” they said.

Last month, Xi Jinping met the newly appointed Hong Kong chief executive and thanked him for achieving a major transition in the city which he described as from “chaos to order.”

In a meeting in Beijing, Xi congratulated Lee on his election win and appointment by the central government. Lee was the former security chief of Hong Kong who oversaw the crackdown on the democracy movement.

Lee, 64, is scheduled to assume his office on July 1, taking over from current chief executive Carrie Lam. The event will coincide with the 25th anniversary of Hong Kong’s transfer from British to Beijing under the “one country, two systems” framework to safeguard Hong Kong’s freedoms.

Praising Lee for maintaining the unwavering stance of loving the country and Hong Kong, being willing to assume responsibilities and actively performing his duties, Xi said Lee has made contributions to safeguarding national security and Hong Kong’s prosperity and stability in various roles. (ANI)

ALSO READ: Eyeing third term, Xi draws new military leadership line up

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Eyeing third term, Xi draws new military leadership line up

It is expected that Xi will continue to firmly control all the pillars of the Party-state till 2027, if not longer, a report by Atul Aneja

Chinese leader Xi Jinping is set to cast in stone a new leadership line up in the military which will be younger, experienced in joint operations and personally loyal to him.

The change in the leadership hierarchy has been visible since January. But it appears to have acquired urgency as the date of the 20th party congress of the Communist Party Congress (CPC), expected to be held in October this year approaches. The Congress will “elect” a new political leadership for a five-year period. Barring an extreme event,  Xi is set to become the country’s leader for another five years.  That would mean he would be endorsed as the General Secretary of the CPC till 2027. This is the most powerful position in the Party-state. Currently, Xi is all powerful. Not only is he the party general secretary, he is also the President of the country, a post which is important for interaction with the external world, but under the Chinese constitution is largely ceremonial. Besides, he is  the head of the Central Military Commission (CMC) that apexes the People’s Liberation Army (PLA) in all its manifestations.

It is expected that Xi will continue to firmly control all the pillars of the Party-state till 2027, if not longer. 

It is fairly obvious that between now and 2027, China, committed to ascertaining its “rise” in the international system, will, almost certainly,  experience great turbulence. And if, during this phase, Taiwan has to be annexed, the leader would have to ensure that the PLA demonstrates its iron-clad loyalty, especially when the chips are down. That means appointing military leaders who will be competent and loyal to the Party leader, even during conditions of extreme pressure.

So, what are the top positions that XI needs to fill in order to forge a new military hierarchy?

For starters,  two vice-chairmen of the CMC–Xu Qiliang and Zhang Youxia are set to retire at the 20th party congress. Besides, two CMC members, Wei Fenghe and Li Zuocheng, are also expected to exist from the CMC. Consequently, two existing CMC members Miao Hua and Zhang Shengmin who will remain, will have  a better chance to occupy the two vice-chairmen slots. But Xi may not go by convention and elevate the two, as both have almost similar military experience. According to a study published in the Jamestown Foundation website, Xi has enlarged the pool of contenders for top positions, and the second rung of the CMC hierarchy may come from them.

Several generals who have close ties with Xi have been rapidly promoted in recent years. For instance, Lin Xiangyang after serving as the commander of the Central Theatre Command was shifted to the Eastern Theatre Command in January this year, opening the possibility of being accommodated in the CMC during the 20th party congress.  

In fact, in  January, Xi promoted seven senior People’s Liberation Army (PLA) military and armed police officers to the rank of general.

These include the Political Commissar (PC) of Northern Theatre Command Liu Qingsong, Commander of Central Theatre Command  Wu Ya’nan, PC of Central Theatre Command Xu Deqing, PC of Navy Yuan Huazhi, Commander of Rocket Force Li Yuchao and PC of the People’s Armed Police (PAP) Zhang Hongbing, according to a Xinhua report.

Since 2019, Xi has elevated 38 officers to the full general rank—a record, which also illustrates the political will to revamp the entire military, based on  the fulcrum of theatre commands, intended to fight future wars in an integrated manner through joint operations.

In selecting armed forces personnel for tomorrow Xi has followed four other principles.

First, there has been a concerted effort to reduce the age of top military leaders. Unsurprisingly, the average age of  generals that Xi has promoted dropped significantly from almost 62 in July 2019 to nearly 58 years in January 2022.

Second, in tune with Xi’s focus on joint operations under the rubric of theatre commands—a process that started in February 2016–those who have been  deputy leaders in theatre commands stand a better chance of being promoted.

Third officers who have worked with Xi when he was posted in Fujian and Zhejiang provinces between 1985–2007 have received more promotion opportunities, ensuring that the Chinese President has a strong pool of ultra-loyalists in the PLA.

Fourth, Xi has  preferred promoting those officers who have been deployed in internally restive regions, especially Xinjiang and Tibet. Therefore, those officers who have served in the Western TC, which covers Xinjiang and Tibet have been elevated faster. For instance, the Political Commissar (PC)  of the Central Theatre Command, Xu Deqing served as PC of the 47th Group Army, which was part of the former Western Theatre Command Lanzhou Military Region during 2015-2017. The PC of the Rocket Force Xu Zhongbo was the first PC of the Western Theatre Command  Ground Force in 2016.

ALSO READ: Putin says noticeable increase in Russian oil exports to India, China

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Putin says noticeable increase in Russian oil exports to India, China

The Russian President said contacts between Russian business circles and the business community of the BRICS countries have intensified…reports Asian Lite News

Russian oil exports to China and India have noticeably increased and its presence in the BRICS countries is also growing, President Vladimir Putin said on Wednesday amid the Ukraine conflict that has resulted in heavy sanctions on Moscow.

He made these remarks at the virtual BRICS Business Forum being hosted by China, the first such forum that Putin is attending with the heads of major economies since the start of the Russia-Ukraine war.

Speaking at the event, Putin noted that despite all problems and difficulties BRICS businesses have been “consistently enhancing mutually beneficial ties in the areas of trade, finance, and investment”.

“For example, in the first three months of this year, trade between the Russian Federation and the BRICS countries increased by 38 per cent – and reached USD 45 billion,” he said.

Analysts say the decision by the group to go ahead with the annual summit does reflect a view held by BRICS countries on the global order and, by extension, the situation in Ukraine, which differs from the Western countries led by the US.

The Russian President said contacts between Russian business circles and the business community of the BRICS countries have intensified.

“For example, negotiations are underway to open Indian chain stores in Russia, increase the share of Chinese cars, equipment, and hardware on our market. In its turn, Russia’s presence in the BRICS countries is growing. There has been a noticeable increase in the exports of Russian oil to China and India,” he said.

“Agricultural cooperation is developing dynamically. Russia exports considerable amounts of fertilizers to the BRICS states. Russian IT companies are expanding their activities in India and South Africa, and our satellites enable TV broadcasting for as many as 40 million residents of Brazil,” he added.

India in recent weeks has spiked energy imports from Russian despite global sanctions on Moscow. US officials conveyed the message to India there is no ban on energy imports from Russia but they do not want to see a rapid acceleration.

A number of institutionalized mechanisms have been set up for the development of economic cooperation between the India-Russia. However, the Ukraine war and subsequent sanctions placed by the Western countries have proved to be a hurdle in trade.

On Tuesday, US National Security Council coordinator John Kirby was asked a question on reports of a spike in Indian energy imports from Russia. Kirby said India is a very key strategic partner in the Indo-Pacific region and the US lets Indian leaders speak about their economic policies, said

Addressing a press briefing on Tuesday, he said the US value this bilateral relationship with India but Washington wants international pressure on Russia amid the Ukraine conflict.

“India is also a very key strategic partner in the Indo-Pacific region. And there are many ways that partnership represents itself both in defence and security, economic as well. I think we’ll let Indian leaders speak about their economic policies,” he said.

External Affairs Minister S Jaishankar earlier this month hit back at the unfair criticism of Indian oil purchase from Russia amid the Ukraine war that has created a knock-off effect on the world economy.

While defending India’s oil imports from Russia, Jaishankar stressed that it is important to understand how the Ukraine conflict is impacting the developing countries. He also questioned why only India was being questioned while Europe continues to import gas from Russia amid the Ukraine war. (ANI)

ALSO READ: Biden’s Putin obsession batters global growth

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SPECIAL: Why the Covid menace dogs China?

A staff member helps a villager disinfect baggage when he returns to Lianqin Village of Beicai Town in Pudong New Area, east China's Shanghai, April 26, 2022. (Xinhua/Jin Liwang/IANS)

China- manufactured vaccines have turned out ineffective, making already-vaccinated people prone to new infections. The helpless Beijing government now has warned of an “explosive” Covid-19 outbreak. Ineffective jabs cripples China while successful vaccination brings normalcy in India …. A special report by Dr Kailash Yadav

The Asian giants of China and India, which are often at loggerheads, competed with each other to find a vaccine for the Covid-19. China was the first to develop Covid-19 vaccines, which it claimed did bring the coronavirus cases under control. On other hand, India struggled to tame the rising infection before its vaccines were developed. Indian vaccines however have proven to be a great success as New Delhi has freed its citizens from lockdowns and other restrictions. Things however have become murky in China as coronavirus cases are flaring up. China- manufactured vaccines have turned out ineffective, making already-vaccinated people prone to new infections. The helpless Beijing government now has warned of an “explosive” Covid-19 outbreak.

India had witnessed havoc during the second wave of Covid-19 in mid-2021. It was the time when India had just introduced two of its vaccines- Covishield and Covaxin. New Delhi implemented its vaccine programme and managed to administer the jabs to the majority of its population before the year ended. Now, the almost entire population has been vaccinated. India remained unaffected when the fourth wave struck in 2021-end and even during the current fifth wave. It clearly suggests that the Indian vaccination programme has been a great success as it tamed the coronavirus spread in the densely populated country, where hygiene and public health cannot be considered at par with the standards defined by the developed world.

(Photo by Chu Yan_Xinhua_IANS)

It was found that the effectiveness of Indian jabs was 99.30 per cent in full-vaccinated people.  On other hand, the Chinese vaccines’ potency could not go beyond 79 per cent, says World Health Organisation (WHO).  A study by the University of Hong Kong has lowered the Chinese vaccines’ effectiveness further, limiting it to just 60 per cent. It further revealed that those vaccinated with Sinovac were three times more vulnerable to die compared to those inoculated with the German Pfizer–BioNTech vaccine.  Earlier, countries like Brazil, Bahrain, UAE, and Indonesia, which had procured Chinese vaccines questioned the effectiveness of the jabs against Covid-19. , ,  In April 2022, only 6.78 million vaccine doses were exported from China, which is 97 per cent lower compared to that in September 2021.

A Chinese study published in The Lancet Infectious Diseases journal has shown that Chinese vaccines were unable to detect Omicron sub-variants.  Chinese authorities have tried every possible measure including the controversial zero-covid policy to bring the viral transmission down. But everything is in vain. The number of cases is rising at a high rate, crippling normal life in China. Around 400 million people in China are affected, which amounts to over a quarter of the country’s population. As many as 45 cities including the financial hub of Shanghai were placed under strict lockdown in recent times in the wake of Chinese vaccines’ failure to tame the coronavirus.

In India, the situation has returned to pre-Covid times as there are no restrictions on public movement. Even face masks are not mandatory. India is expected to evade the stagflation that has hit China and other major economies.  The deteriorating situation in China has negatively impacted global companies as well as local businesses in the country. Many economists fear for economic recession in China now.  The high-handed approach of the Beijing government to covid-19 management has caused huge inconvenience to people who are stuck in their homes. Food shortage and loss of jobs due to forcefully-induced lockdowns have infuriated them.

People in China have lost their trust in vaccines due to their ineffectiveness and lack of transparency. After major Chinese vaccines proved hopeless, Beijing is betting on new mRNA vaccines.  However, the said mRNA has several side effects including fever.  People are under mental stress as they are forced to undergo mandatory Covid-19 tests often and to stay away from children. On other hand, people in India now appear to be immune to coronavirus as the vaccines have worked. They are allowed to visit any place they want, and businesses are permitted without any restrictions. According to the US Treasury Department, the Indian economy rebounded thanks to the accelerated vaccine rollout. Chinese vaccines however failed to live up to the expectations, hurting the people’s lives and countries’ overall economy in a long term.

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Biden may scrap China tariffs amid inflation

Biden’s advisers are poring over Trump-era tariffs on hundreds of billions of dollars of Chinese goods – many of which they see lacking strategic value…reports Asian Lite News

President Joe Biden is considering scrapping tariffs on a range of Chinese goods to curb inflation, but no decision is likely before next week’s Group of Seven summit, people familiar with the matter said.

White House officials discussed options on Friday with Biden for reducing some of former President Donald Trump’s punitive duties on China, including potentially substantial cuts, three of the sources said. The scale of any potential final move is not yet decided, they said.

Biden’s advisers are poring over Trump-era tariffs on hundreds of billions of dollars of Chinese goods – many of which they see lacking strategic value, the sources said.

A White House spokesperson said the goal was to align the tariffs with U.S. economic and strategic priorities, safeguarding the interests of workers and critical industries, while not “unnecessarily raising costs on Americans.”

After weeks of fierce debate among key aides over the issue, Biden has come to favor swift action on the tariff issue, keen to use any leverage to reduce surging inflation ahead of the Nov. 8 midterm elections for control of Congress, two of the sources said.

The president told reporters on Saturday that he was in the process of making up his mind.

“Conversations on this issue are ongoing and intensifying,” a senior administration official told Reuters. “But this is not a binary (choice to) lift all tariffs or don’t. It has to make sense strategically.”

Margaret Cekuta, a former U.S. trade official who is now a principal with the Capitol Counsel lobbying firm, said easing tariffs would likely have a limited impact on inflation and could take about eight months to become fully effective.

“Economically it doesn’t make sense, but it could help combat the psychological impact of high inflation,” she said, adding that the administration was trying to analyze which tariff lines could have the greatest impact on prices.

One administration proposal calls for eliminating a large chunk of Trump’s punitive tariffs on Chinese consumer exports, except those on $50 billion of goods tied to an initial so-called Section 301 probe, which focused on circuit boards, semiconductors, and other “strategic” goods, said one of the sources. The proposal also excluded changes to tariffs on steel and aluminum.

But it could remove tariffs on a large number of consumer goods hit with tariffs in 2018 and 2019 as Trump’s trade war with Beijing escalated – some $320 billion at the time they were imposed. These included internet routers, Bluetooth devices, vacuum cleaners, luggage and vinyl flooring.

Ban on imports from Xinjiang to take effect

Imports from China’s Xinjiang region are due to be banned in the US from Tuesday as new rules come into forced.

Under the the Uyghur Forced Labor Prevention Act (UFLPA), firms will have to prove imports from the region are not produced using forced labour, the BBC reported.

US officials have said members of the persecuted minority Uyghur community in the region, who are predominantly Muslim, have been detained and made to work.

China has repeatedly rejected accusations that it is holding Uyghurs in internment camps in Xinjiang.

Several imports from the resource-rich region, including cotton and tomatoes, have already been banned from the US, the BBC reported.

In a statement last week, US lawmakers said the law sends “a clear message that we will no longer remain complicit in the Chinese Communist Party’s use of slave labour and egregious crimes against humanity”.

“Congress stands ready to work with President Biden and his administration to ensure this historic law is fully and rigorously implemented,” US Republican Senator Marco Rubio, Democrat Senator Jeff Merkley and two other lawmakers said.

According to the US Congress, China has detained more than a million Uyghurs and other Muslim minorities in Xinjiang since April 2017, reports the BBC.

It believes tens of thousands of detainees have worked “at a fraction of minimum wage or without any compensation” in Xinjiang and other provinces “under the guise of poverty alleviation and industrial aid programmes”.

It said China also “interferes with audits and traditional due diligence efforts to vet goods and supply chains in Xinjiang, including by intimidating potential witnesses and concealing relevant information”.

China has denied the use of forced labour and said the camps in Xinjiang were “re-education” facilities used to combat terrorism.

ALSO READ: Biden’s Putin obsession batters global growth

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China’s BRI projects in Nepal await quiet burial

China’s image as a dependable economic partner has taken a beating as Beijing refused to provide any financial assistance to cash strapped Sri Lanka, reports Mahua Venkatesh

China’s much-hyped Belt and Road Initiative (BRI) in Nepal has been a non-starter. The two countries signed a memorandum of understanding in May 2017 to expand bilateral cooperation under the BRI but five years later, there is nothing to show on the ground, despite Chinese President Xi Jinping’s visit to the Himalayan nation in 2019.

Earlier this month, two contracts of two Chinese companies that have been working on the Kathmandu-Terai Fast Track were temporarily suspended for delayed execution. The contracts were signed by the Nepali Army with China State Construction Engineering Corp. Ltd and Poly Changda Engineering Co. Ltd on May 14, 2021, for building three tunnels, bridges, and a partial road, the Annapurna Express said in a report.

Issues related to interest rates and repayment structure of the loans have remained a source of contention. Nepal wants the terms of the loans for the infrastructure projects to be on par with other multilateral agencies’ funding mechanisms.

Deutsche Welle (DW) in a report also said that Nepal “believes the BRI projects should be open for competitive bidding”.

Besides, China’s image as a dependable economic partner has taken a beating as Beijing refused to provide any financial assistance to cash strapped Sri Lanka. “China, which had positioned itself as a saviour for other countries with its BRI projects and funding is in a spot after it refused help to Sri Lanka,” an analyst who has lived in China told India Narrative.

Foreign policy watchers said that the BRI is unlikely to gain steam in the coming years especially now as the Sher Bahadur Deuba administration approved the $500 million financial assistance from the US based foreign assistance body, Millennium Challenge Corporation (MCC).

Chinese Foreign Minister Wang Yi meets Nepal Prime Minister Sher Bahadur Deuba. (photo:@MofaNepal/Twitter)

The grant is expected to help in developing an electricity grid of 400kVA transmission lines in Nepal.

According to an Observer Research Foundation study, the development of the grid will not only boost distribution of power in the domestic market but also help in exporting it to India. Additionally, the implementation of the MCC could boost the Nepalese economy in terms of raising employment opportunities as well as raising the per capita income, the study said.

Not just that. Nepal’s foreign ministry, which issued a statement after Chinese foreign minister Wang Yi’s visit to Kathmandu in March, did not mention anything on BRI projects. However, Beijing in its statement highlighted the importance of the BRI framework in Nepal.

“The recent developments of growing US influence in Nepal is an area of concern for China. Where Nepal stands today, her economic growth necessitates her Neutrality and the need to grow with the basket of multiple choices. Therefore, China may not succeed with much political influence but will seek a share in economic investments into the country, Navita Srikanth, foreign policy expert told India Narrative.

Nepal’s India approach

Meanwhile, India and Nepal, which have an open border policy, renewed focus on boosting political and economic cooperation. Prime Minister Narendra Modi’s visit to Lumbini on the occasion of Buddha Purnima was a “sentiment booster”.

Prior to Modi’s visit, his Nepalese counterpart Sher Bahadur Deuba too paid a visit to India in April.

“For post-pandemic economic rebounding in both countries, a positive environment that is created with the Prime Minister’s visits from both sides in recent times will be utmost crucial,” Ram Prasad Subedi, Deputy Chief of Mission, Embassy of Nepal in India said at an event organised by the India Nepal Centre under the PHDCCI framework. He added that Nepal has already begun exporting 177 MW of energy to India via the power exchange market.

(The content is being carried under an arrangement with indianarrative.com)

ALSO READ: German Chancellor warns against China’s debt traps

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German Chancellor warns against China’s debt traps

Highly unsustainable levels of debt created by China in the developing world allow it to create economic dependencies and political leverages in these countries….reports Asian Lite News

Pointing at the serious danger posed by China’s lending spree in poorer countries, particularly Africa, German Chancellor Olaf Scholz warned that this could plunge the world into the next financial crisis.

“There is a really serious danger that the next major debt crisis in the global south will stem from loans that China has granted worldwide and doesn’t have a full overview of because there are so many players involved,” Scholz said.

“That would then plunge both China and the global south into a major economic and financial crisis and, incidentally, would not leave the rest of the world unaffected, to put it politely. So, this is a serious concern,” he added.

China’s infamous “debt-trap” policy is singularly responsible for the dire economic situation in many countries. Highly unsustainable levels of debt created by China in the developing world allow it to create economic dependencies and political leverages in these countries.

China has always maintained that its overseas lending follows a “no-strings-attached” approach and respects other countries’ right to select “their own development path” with a focus on developing countries’ control.

“One of the very, very big ambitions we have is to bring China in, as a country that is lending a lot in new ways,” he said, reported Hong Kong Post.

It is interesting to note that while criticizing China for its loan lending approach to the poor economies, Scholz pointed to the European Union’s recently unveiled Global Gateway initiative, which is in part aimed at countering China’s influence.

As per this initiative, the EU aims to invest over 150 billion euros in Africa. The investment is set for many key areas ranging from renewable energy to transport, vaccine production and education.

The ambitious scheme is widely seen as a response to China’s mammoth Belt and Road infrastructure project. Though there is worldwide condemnation of China’s debt-trap policy, Beijing disputes the charge. China argues saying that with the help of its loans the country is trying to alleviate poverty, as per the media portal. (ANI)

ALSO READ: Global outrage over China’s Xinjiang abuses

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China tells foreign banks to trim wages

Xi has continued to call for the common prosperity of the country’s entire population amid the massive crackdown on big tech giants in China….reports Asian Lite News

Ahead of the 20th National Congress of CPC to be held in 2022 where President Xi Jinping is all set to secure his third term in power, Chinese authorities are enforcing Xi’s “common prosperity” agenda by warning foreign banks to trim wages.

Chinese regulators have warned global major investment banks including Credit Suisse, Goldman Sachs and UBS not to reward their top bankers too lavishly, the country’s latest effort to rein in risks and promote “common prosperity,” reported The Standard, a Hong Kong publication.

Xi has continued to call for the common prosperity of the country’s entire population amid the massive crackdown on big tech giants in China.

The China Securities Regulatory Commission had summoned executives to discuss bankers’ pay, people familiar with the meetings said, characterizing the discussions as a highly unusual, if not unprecedented, regulatory intrusion into foreign banks’ personnel decisions.

It’s a sign that they are being put on the same footing as local brokers, who were told in the past two years to cut pay and expenses, reported The Standard.

Executives in attendance, which included Credit Suisse’s local Chairman Janice Hu and Goldman’s China co-head Sean Fan, were told by top regulators to keep compensation, especially for senior managers, in line with the “common prosperity” agenda.

The say-on-pay meetings, reported here for the first time, are just one of the many potholes that global banks have hit lately on their long, rocky road into China.

Moreover, China has been targetting major companies in the country by using certain regulations.

China’s live-streamers harnessed e-commerce, social media and personal star power, to fuel the rise of a multibillion-dollar industry in recent years but the influencers are now targets in Chinese President Xi Jinping’s “common prosperity” campaign, a wide-ranging crackdown that is bringing celebrities and Internet companies to heel in the name of addressing inequality.

Further, it is also an effort to inject ideological rigor into the new economy after years of explosive growth and exert more control over which industries prosper as part of Chinese President Xi Jinping’s economic vision. (ANI)

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