The UAE-China Summit presented by HSBC will mark 40 years of diplomatic relations between the UAE and China…reports Asian Lite News
Abu Dhabi Global Market (ADGM) recently concluded a series of high-level engagements in China and participated in the Shanghai Investment Summit, organised by the Abu Dhabi Investment Office (ADIO) and attended by 200 industry and financial executives from China and Hong Kong.
The roadshow covered Shanghai and Hong Kong, featuring the announcement of a new trade forum – ‘The UAE-China Summit presented by HSBC’, slated to be one of the sub-events of the upcoming edition of Abu Dhabi Finance Week (ADFW) in December.
The UAE-China Summit presented by HSBC will mark 40 years of diplomatic relations between the UAE and China, which aim to explore bilateral trade and investment opportunities further and drive the cultural exchange between both countries.
The series of roadshows, initially planned for three days, were extended to five days to accommodate the unprecedented demand for bilateral meetings and discussions. These meetings aimed to showcase Abu Dhabi’s economic opportunities and investment potential as the ‘Capital of Capital,’ and ADGM’s value proposition as the region’s fastest-growing international financial centre.
Over 75 major financial institutions, including private equity firms, hedge funds, asset managers and family offices from Hong Kong and China actively engaged in strategic discussions with ADGM’s Leadership, including representatives from the Financial Services Regulatory Authority (FSRA) of ADGM and other key ADGM executives. Discussions spanned cross-border regulatory cooperation with the Hong Kong Monetary Authority, expansion plans in Abu Dhabi for various Hong Kong and Chinese firms, and strategies to enhance liquidity in each other’s capital markets.
Arvind Ramamurthy, Chief of Market Development at ADGM, said, “The enthusiastic response we received during the China and Hong Kong roadshows underscores Abu Dhabi’s growing international recognition. Along with ADGM, ADFW has been playing a pivotal role in carrying Abu Dhabi’s ‘Falcon Economy’ across global borders. The demand in the Chinese subcontinent is unprecedented, and both Abu Dhabi and ADGM are ready to embrace these opportunities, further strengthening the 40-year diplomatic relations between our strategically important nations.”
Mohamed Al Marzooqi, Chief Executive Officer, UAE, HSBC Bank Middle East, said, “Over the last decade, bilateral investment between the UAE and China has reached billions of dollars, with the UAE’s non-oil trade with China reaching US$81 billion in 2023. As Abu Dhabi’s multi-year transformation plans accelerate and China’s pro-business policies bolster its status as a giant in international trade, and a global leader in renewables, we foresee a surge in both inbound and outbound business opportunities along the corridor. Our long-standing presence in both countries, extensive expertise and international network position us well to support businesses and institutions seeking to capture investment and financial flows along these two dynamic markets.”
The introduction of this local currency settlement aims to ease the import of goods such as vegetables, fruits, construction materials, and technology from China….reports Asian Lite News
The Maldives has announced steps towards establishing a Chinese bank in the country, alongside the implementation of a Free Trade Agreement (FTA) with China set to begin in September.
Maldives’ Minister of Economic Development and Trade, Mohamed Saeed, shared these developments at the ‘Maldives-Sichuan Trade and Investment Cooperation Conference.’
Saeed emphasized the economic potential of the FTA, which will include a ‘local currency settlement’ system allowing Maldivian businesses to trade with China using the Maldivian Rufiyaa and Chinese Yuan instead of USD.
Saeed noted that laws have been passed to facilitate this arrangement, and an agreement between the People’s Bank of China and the Maldives Monetary Authority is underway.
The introduction of this local currency settlement aims to ease the import of goods such as vegetables, fruits, construction materials, and technology from China.
The Maldives imports approximately USD 700 million worth of goods from China annually, including USD 19 million from Sichuan province.
The conference, attended by over 100 participants from both regions, sought to strengthen business relations and inform Chinese companies about investment opportunities in the Maldives.
Additionally, the Maldives is exploring a similar currency arrangement with India.
This initiative follows a visit by Maldivian Foreign Minister Moosa Zameer to China in July, amid cooling relations between the Maldives and India since the election of pro-China President Mohamed Muizzu.
President Muizzu’s government has already taken steps to reduce India’s military presence in the country.
He reiterated that the ties should be repaired with the US, but not at the cost of the relations shared by Pakistan with Beijing….reports Asian Lite News
Pakistan’s Prime Minister Shehbaz Sharif highlighted the country’s strong support for China, stating that Beijing’s contributions to Pakistan surpass what the United States could ever provide, according to a report by Dawn.
He reiterated that the ties should be repaired with the US, but not at the cost of the relations shared by Pakistan with Beijing.
After a hectic weekend, the prime minister had a meeting with several journalists at his Model Town residence in Lahore.
Speaking at the event, PM Shehbaz stated that the second phase of the China-Pakistan Economic Corridor (CPEC) was rapidly moving forward and that there had been encouraging progress in promoting cooperation across a range of disciplines during the Chinese experts’ visit to Pakistan.
Speaking about his letter to Beijing asking for a debt re-profiling, he stated that the government would be able to lower inflation, particularly the price of energy if China consented to allow Pakistan five to seven years to repay the debts.
However, on being asked if he had received any response so far, the Prime Minister said: “No… [our request] is under consideration.”
“We hope for a positive response from China in this regard,” he said.
When further questioned on Pakistan-US relations, the prime minister expressed the belief that it was in Pakistan’s best interests to mend its relationship with Washington.
“I think our relations with the US must be repaired, as it is very necessary for Pakistan… But it shouldn’t be at the cost of China… and I had told [the Americans] recently in the presence of various dignitaries including Mr Ishaq Dar,” he further said, according to Dawn.
“I also told them that similarly, the friendship with China is not at the cost of the US, as both have significance for us,” he said.
According to the Pakistan PM, there are things that China is assisting Pakistan with that the US is unable to do.
Shehbaz Sharif, in his remarks, showed concern about the safety and security of Chinese nationals in Pakistan and assured that the government would use all its resources to ensure their well-being, according to Dawn.
It is pertinent to note that Pakistan PM Shehbaz Sharif’s positive comments on China come at a time when there are repeated attacks taking place on Chinese nationals in Pakistan. Though both countries are involved in the Belt and Road Initiative (BRI) together, the projects under it have only increased the debts of Pakistan over the years, amid a pre-existing economic crisis.
He said that politics of any kind had no place in dealings with a close friend like China. He declared that he was well aware of the issues that the general populace was facing, such as energy prices and inflation. (ANI)
The 10-part series dramatises a potential invasion by China’s People’s Liberation Army (PLA), a first for Taiwan….reports Asian Lite News
Since the release of the teaser for the Taiwanese television series “Zero Day” last month, which depicts a fictional Beijing invasion, the dramatised scenes have ignited strong reactions and sparked vivid speculation about a potential Chinese invasion, CNN reports.
The 10-part series dramatises a potential invasion by China’s People’s Liberation Army (PLA), a first for Taiwan.
The teaser shows a besieged island experiencing terror and anarchy after a military blockade: locals race to take out cash, foreigners rush to leave, prisons erupt in riots, and television networks are compromised to air enemy propaganda.
Although the threat has been hanging over the self-governing island for decades, it is now intensifying as the Communist Party-run China becomes more assertive and powerful and shows off its military might, raising tensions to unprecedented levels, according to CNN.
With over a million views on YouTube and local media coverage, the 17-minute teaser proved to be a hit in Taiwan.
“As a 21-year-old, I almost burst into tears when I watched it. Every scene in those 17 minutes felt so close to us. Maybe one day in the future, these scenarios will become a reality around us,” said a top comment with over a thousand upvotes, according to CNN.
However, the teaser also drew criticism, particularly from leaders in the opposition, who claimed it heightened anxiety and overstated the situation.
Despite never having controlled Taiwan, China’s ruling Communist Party claims it as part of its territory and has vowed to take the island by force if necessary. (ANI)
From January to June this year, cross-border deals in China’s commercial properties market were worth USD 3.3 billion which was down by 13 percent compared to last year….reports Asian Lite News
Following a severe crisis in the real estate market, foreign investors are restraining themselves from capital investment into commercial properties in China’s real estate market, reported Nikkei Asia.
Additionally, the remaining players of the country are pinning their hopes on traditional strategies in areas, including, environmentally friendly developments, Nikkei Asia reported.
Christine Li, the head of research at real estate consultancy Knight Frank told Nikkei Asia, “We have seen some concerns, particularly from the U.S.-based real estate investors. Five to seven years down the road, whether you can find a buyer to exit the Chinese market, is a big question mark.”
From January to June this year, cross-border deals in China’s commercial properties market were worth USD 3.3 billion which was down by 13 percent compared to last year.
According to data from the investment research group MSCI Japan, despite showing a 35 per cent decline in such deals, topped the Asia Pacific market at USD 3.7 billion.
According to the Nikkei Asia report, US investors invested a mere 600 million yuan into China’s property market according to data compiled by MSCI. Though Singaporean capital logged an 80 per cent rise in the first half of 2024 from the previous year. It was still just over a third of its peak investment from the second half of 2019, when it had invested 22 billion yuan into mainland China’s market.
This downward trajectory creates a growing concern even among long-time investors in China.
Reportedly, China’s property market has been struggling since the government launched a crackdown, as it had rolled out policies to reduce property developers in the country from borrowing loans in 2020.
Evergrande which once stood as China’s biggest developer, is now close to liquidation, Nikkei Asia reported.
Additionally, the Chinese player currently shows little hope so far for offshore investors to recoup their costs, while several other private developers are being taken to court for windup petitions.
The collapse of the real-estate market sector has damaged the confidence of Chinese families who had built their wealth over the past several decades, pinning their hope on the rise of property prices in China.
During the first six months of 2024, China’s overall property investments fell 10.1 percent in value from the previous year.
Singapore’s sovereign wealth fund GIC which was consistently a top buyer in China’s property market, had previously warned that the country has “come to the end of its growth model” which relied on real estate and property development.
This triggered a perception among long-term investors of the positive potential of China’s property market. However, the investments have been “suddenly curtailed,” GIC Chief Investment Officer Jeffrey Jaensubhakij told Nikkei Asia.
Xavier Lee, an equity analyst at Morningstar, said, “Several Singapore real estate companies with committed projects in China will continue to invest and complete them. They are not expected to suddenly pull out. But we do not expect them to expand aggressively either given the challenging market environment,” he told Nikkei Asia. (ANI)
Since 2019, the Macau government has asked Taiwan officials at TECO-Macao, which is administered by the MAC, to sign affidavits recognising the “One China” principle in order to be issued with new visas…reports Asian Lite News
Taiwan has said that it is finding it difficult to send officials on posting at its representative office in Macau as the special administration’s government was denying visas to those who do not sign an affidavit recognising Beijing’s ‘One China’ principle, Taiwan News reported citing the Mainland Affairs Council (MAC).
China resumed sovereignty over Macau in 1999.
While addressing a press conference, MAC deputy head and spokesperson Liang Wen-chieh said that the Taiwan Ministry of Foreign Affairs (MOFA) official previously serving in the Taipei Economic and Cultural Office (TECO) in Macau returned to Taiwan on July 23 after being posted there for over 10 years.
Liang said that another MOFA official was unable to join in Macau after he was unable to obtain a visa “as the Macau government continues to unilaterally impose a political condition for visa applications,” according to report by the Taiwan’s Central News Agency.
Liang said the Chinese Special Administrative Region government requires officials posted there to sign an affidavit adhering to the “One China” principle that “our side cannot agree to,” adding that it resulted in the individual not being able to take up the post in Macao.
Since 2019, the Macau government has asked Taiwan officials at TECO-Macao, which is administered by the MAC, to sign affidavits recognising the “One China” principle in order to be issued with new visas.
Before the implementation of this rule, Taiwan officials posted to Macau were able to reside in the territory by extending their original visas.
Liang said that it was not feasible to force the recently returned MOFA official to remain in Macao. He called on the Macao government “not to impose unnecessary obstacles” to the new appointment who is due to fill up the vacant post.
Liang said that Taiwanese authorities “will prepare for the worst” if the Macao government continues to insist on such requirements for Taiwanese officials. He, however, did not mention the actions that would be taken. However, he noted that it would affect civil exchanges between Taiwan and Macao and damage the international image of the city.
Asked about the effect on Taiwanese living or travelling to Macao after the return of Taiwan’s MOFA official, Liang said the official’s past duties included assisting with matters linked to visas, entry and exit certificates and passports.
He said that since the post is now vacant, those services have to be handled through online appointments and remote monitoring, which would cause significant inconvenience, CNA reported.
According to information provided by the MAC, TECO-Macao should have eight Taiwanese officials, from various government agencies, like National Immigration Agency, MOFA and the MAC.
After the Taiwanese MOFA official’s return to Taiwan, only two Taiwanese officials, both MAC staff members who have been posted in Macao for seven to eight years remain, along with 14 local Macao employees.
Meanwhile, Liang said that the results of the MAC’s latest survey have indicated that 84.6 per cent of Taiwanese do not agree with China’s new guidelines targeting “diehard” advocates of Taiwan independence and the implementation of new national security regulations that enable the authorities to inspect personal belongings.
According to the survey, 85.1 per cent of respondents did not agree with the China Coast Guard’s claim of “regular law enforcement patrols” in waters near the Taiwan-held Kinmen Islands, Central News Agency (CNA) reported.
The survey was conducted by National Chengchi University’s Election Study Center through telephone interviews with adults aged 20 and above in Taiwan from July 26-30. The survey was commissioned by MAC. The MAC said that 1,073 valid samples were collected, with a confidence level of 95 per cent and a margin of error of plus or minus 2.99 percentage points. (ANI)
Concern is rising among China’s more than one billion internet users over the government’s proposal….reports Asian Lite News
Following the Chinese government’s decision to come up with a proposal to create a virtual ID system, portrayed as a step to protect their personal information, many people are fearing that the plan would do the opposite, reported Voice of America (VOA).
Concern is rising among China’s more than one billion internet users over the government’s proposal.
China’s Ministry of Public Security and the Cyberspace Administration issued the draft “Measures for the Administration of National Network Identity Authentication Public Services” on July 26.
According to the proposal, Chinese netizens would be able to apply for virtual IDs on a voluntary basis to “minimise the excessive collection and retention of citizens’ personal information by online platforms” and “protect personal information.”
Meanwhile, many netizens agree in their posts that companies have too much access to their personal information, others fear the cyber ID proposal, if implemented, will simply allow the government to more easily track them and control what they can say online, reported VOA.
Beijing lawyer Wang Cailiang said on Weibo, “My opinion is short: I am not in favour of this. Please leave a little room for citizens’ privacy.”
Shortly after the proposal was published, Tsinghua University law professor Lao Dongyan posted on her Weibo account, “The cyber IDs are like installing monitors to watch everyone’s online behaviour.”
Her post has since disappeared, along with many other negative comments that can only be found on foreign social media platforms like X and Free Weibo, an anonymous and unblocked search engine established in 2012 to capture and save posts censored by China’s Sina Weibo or deleted by users, as reported by VOA.
A Weibo user under the name “Liu Jiming” said, “The authorities solemnly announced [the proposal] and solicited public opinions while blocking people from expressing their opinions. This clumsy show of democracy is really shocking.”
Beijing has a wide network of censors to block and remove politically sensitive content, called the Great Firewall by critics.
Since 2017, China has required internet service and content providers to verify users’ real names through national IDs, allowing authorities to more easily trace and track online activities and posts to the source.
According to Chinese internet experts, netizens can make that harder by using others’ accounts, providers, IDs and names on various platforms. However, critics fear a single cyber ID would close those gaps in the Great Firewall, VOA reported.
Zola, a network engineer and well-known citizen journalist originally from China’s Hunan province, who naturalised in Taiwan, said that having control over cyber IDs is a superpower as it will give access to not just their names but to the connection between the netizen and the cybersecurity ID.
“The control of the cyber IDs is a superpower because you don’t only know a netizen’s actual name, but also the connection between the netizen and the cybersecurity ID,” Zola said.
Li, a Shanghai-based dissident who did not want to disclose his full name because of the issue’s sensitivity, told VOA that the level of surveillance by China’s internet police has long been beyond imagination.
He said the new proposal is a way for authorities to tell netizens that the surveillance will be more overt, “just to intimidate and warn you to behave.”
Meanwhile, some netizens fear China could soon change the cyber ID system from a voluntary program to a requirement for online access, as reported by VOA.
A Weibo user under the name “Fang Zhifu” warned that in the future, if “the cyber ID is revoked, it will be like being sentenced to death in the cyber world.”
Meanwhile, China’s Ministry of Public Security and Cyberspace Administration said that they are soliciting public opinion on the cyber ID plan until August 25. (ANI)
President Xi Jinping’s overarching objective is to attain a “high-standard socialist market economy in all respects” by 2029, with Xi Jinping Thought acting as the guiding light….reports Asian Lite News
The Third Plenum – a meeting of Central Committee members held from 15-18 July to clarify China’s long-term economic and social policies – illustrated how Chairman Xi Jinping is holding unwaveringly to his vision for China. It also demonstrated how he is ignoring calls for any course correction.
A total of 199 members and 165 alternate members attended this plenary session of the 20th Central Committee, held nine months late. Xi’s overarching objective is to attain a “high-standard socialist market economy in all respects” by 2029, with Xi Jinping Thought acting as the guiding light.
Since 1982, the Chinese Communist Party (CCP) has usually convened seven plenums every five years. Whereas the first and second plenums in each five-year term focus on senior party leadership appointments and restructuring of governmental institutions, the third plenum typically introduces major policy initiatives for the next 5-10 years.
This Third Plenum was the first since November 2013 and, reflecting China’s increasing opacity, the CCP offered no explanation as to why it was delayed for so long. The party also simply announced refinements of existing measures, rather than any major shift in strategy. Markets reacted glumly to Xi’s unwavering trajectory, with Chinese stocks promptly suffering their largest decline in six months.
Neil Thomas, a Fellow on Chinese Politics at the Asia Society Policy Institute’s Center for China Analysis, pointed out how draft decisions in 2013’s plenum invoked 2,564 comments and 539 revisions, equating to a 21 per cent acceptance rate for modifications. On the other hand, the 2024 plenum’s draft drew 1,911 comments and just 221 revisions, a remarkably lower 12 per cent acceptance rate.
Thomas thus concluded, “Cadres are less willing to speak, and Xi is less willing to listen… There is less internal policy discussion; cadres sent 25% fewer comments.” The academic added, “In 2013, Xi chaired several plenary meetings of the drafting team.
This year, he just reviewed drafts, gave instructions and read notes from team interviews with other leaders. Xi seems increasingly secluded from lower-level officials and less interested in policy debates.”
The CCP, in an 18 July communique, patted itself on the back. “At the session, the Central Committee gave a highly positive assessment of the success and achievements we have made in comprehensively deepening reform since the beginning of the new era, and studied the issue of further deepening reform comprehensively to advance Chinese modernization.”
However, members were cognizant of growing challenges: “It was stated that the present and the near future constitute a critical period for our endeavor to build a great country and move toward national rejuvenation on all fronts through Chinese modernization.”
China’s position is “serious and complex,” it said. Indeed, COVID-19 precipitated am existing crisis, including weak consumption, a slowing economy and unequal wealth distribution.
Xi highlighted five foci at the plenary session. The first was the “leading role of economic system reform”. Of course, “reform” in Chinese vocabulary has a vastly different connotation to its meaning in the West. Chinese “reforms” do not mean altering direction but, rather, minor technical adjustments. After all, major shifts in strategy would be an admission that the CCP had been mistaken, something anathema to authoritarian systems.
Economically, the communique stated, “We must better leverage the role of the market, foster a fairer and more dynamic market environment, and make resource allocation as efficient and productive as possible. We will lift restrictions on the market while ensuring effective regulation, striving to better maintain order in the market and remedy market failures.”
Perhaps surprisingly, the communique glossed over the need to raise domestic consumption. Household consumption in China, expressed as a percentage of GDP, plummeted after 2019.
China wants to lure back Western companies too, as net inflows of foreign direct investment collapsed. After reaching their acme in 2021, by 2023 China had suffered a 90 per cent drop in investment to just USD33 billion. This amount represented a 30-year low.
However, Xi did not offer any positive recommendations as to how this situation could be reversed. Instead, China articulated rhetorical goals of “fostering a first-rate business environment that is market-oriented, law-based and internationalized, and protecting the rights and interests of foreign investors in accordance with the law”.
With China surreptitiously supporting Russia’s war in Ukraine, Western restrictions are only likely to increase. Furthermore, spooked private companies are reshoring in their home countries or moving operations to the likes of India, the Philippines, Thailand or
Vietnam.
Naturally, tight party control undermines many policy goals. By imposing strict control over intellectual property and implementing national security and espionage laws, many foreign companies are being dissuaded from doing business in China. Paradoxically, simultaneous to declaring greater openness to foreign investment, the CCP announced tighter party control over the market! Private companies must act “in accordance with the law” and align with party interests, a stance that offers no reassurance for foreign investors.
A second focus highlighted by Xi was “comprehensive reform” that aligns policies in other domains with high-quality development. The phrase “new national system” is now popular, referring to distribution of national resources with stronger centralized control, and allocating capital to sectors with strategic significance. This is to achieve geopolitical, rather than economic, goals, and it represents China’s recipe to counter Western sanctions and boost domestic technological progress.
A third focus of Xi is “integrating development and security”. China is attempting to juggle economic policies with modernization of its armed forces and national security. The communique stated: “We must maintain the party’s absolute leadership over the
people’s armed forces and fully implement the strategy of strengthening the military through reform to provide a strong guarantee for realizing the centenary goal of the People’s Liberation Army (PLA) in 2027 and achieving basic modernization of national defense and the armed forces. We will improve the systems and mechanisms for leading and managing the people’s armed forces, further reform joint operations systems, and deepen military-civilian reforms.”
There is a section on “advancing the national security system and the modernization of capacity,” with Xi putting the safeguarding of national security in a more prominent position. Arran Hope, Editor of the China Brief at The Jamestown Foundation, observed:
“The addition of this section and its emphasis on the inseparability of the two suggest that security is increasingly factored in as an underlying economic consideration.” Such a stance ends hopes of any rebalance toward development.
Hope added, “Beyond reiterating requisite phrases, such as the PLA’s ‘centenary goal’ and emphasizing the need for political loyalty within the PLA, much of this section is taken up by instructions for the military-industrial complex, especially for equipment development and procurement.”
The Third Plenum pledged to “speed up the development of strategic deterrence forces,” a reference to nuclear weapons. In its 50-page final summary of the Third Plenum, China said it would accelerate “strategic deterrence forces, develop new-domain forces with new combat capabilities, while … [strengthening] traditional combat forces”.
Three years ago, Xi ordered the PLA to “speed up the creation of a high-quality strategic deterrence and joint combat system”. This has seen a rapid build-up in nuclear warheads, ballistic missiles, missile silos and missile-carrying submarines. The US Pentagon
estimated that China had boosted its nuclear warhead inventory to 500 in 2023, compared to 400 just a year earlier.
At the plenum, expulsions of Li Shangfu (former minister of national defense), Li Yuchao (former PLA Rocket Force commander) and Sun Jinming (former PLARF chief of staff) from the party were confirmed. Their seats were filled by alternate members.
Perhaps oddly, new Defense Minister Dong Jun was not elevated to the Central Military Commission. At the same plenum, former foreign minister Qin Gang’s resignation was accepted, his being a fate less stern than that of his defense ministry colleague.
The fourth focus underlined by Xi was “building institutions and mechanisms to support comprehensive innovation”. This emphasizes education, human capital and science and technology reforms. The party is pinning hopes of economic revival on leveraging new, emerging technologies as the world enters the next round of techno-industrial revolution. Already, almost 70 per cent of local government industrial investment funds are being directed towards science and technology manufacturing.
China also calls this approach “new quality productive force”. Instead of trailing others, China wants to lead, all the while insulating its supply chains and growth potential from Western threats. Countries like the US have imposed export controls on technological components to China. Bloomberg predicts that technology industries could account for 23 per cent of China’s GDP by 2026, even as the real estate sector slumps from 24 per cent to 16 per cent.
The fifth and final focus according to Xi is “strengthening party leadership”. Xi was reaffirming his determined belief that centralized power improves government performance.
Thomas of the Asia Society Policy Institute drew this conclusion: “Xi thinks his main problem is poor execution. Side notes say the party already has a relatively clear picture that Xi controls top-level design of reforms, but now the party should concentrate on their overall promotion and supervision of implementation.”
Additionally, Thomas shared, “Xi is now firmly in control of central decision-making, but he still feels that local officials, state bureaucrats and business executives are not doing what he tells them to do.” In January, Xi complained that cadres were holding back his agenda because of their “inadequate understanding”, “old-fashioned concepts” and “insufficient ability”. In other words, Xi thinks there is nothing wrong with his policies, but that the problem lies in their execution by underlings.
Unsurprisingly, the session placed Xi on a pedestal. “We must thoroughly study and implement General Secretary Xi Jinping’s new ideas, viewpoints and conclusions on comprehensively deepening reform and fully and faithfully apply the new development philosophy on all fronts,” the communique urged.
Willy Wo-Lap Lam, a Senior Fellow at The Jamestown Foundation, identified three noteworthy themes: high-tech innovation, taxation and re-collectivization of rural land. Although the communique only briefly mentioned tax reform, there are indications that Beijing will broaden tax categories, especially for consumption or sales taxes. For example, a greater share of sales taxes will go to local governments to help relieve their fiscal difficulties, which now amount to an astounding RMB100 trillion (USD13.8 trillion) of debt. Moneyless local authorities are already subjectively extracting levies and negotiating tax levels with businesses as creative ways of recouping funds.
The phrase “deepening reform of the land system” briefly appeared in the communique too, with growing concern about plots of land left fallow after millions of farmers flocked to cities. Lam therefore speculated, “Xi appears to be contemplating some degree of land recollectivization. This would not support the high-tech economy that Xi is focused on, but it could be construed as a magic bullet, boosting agriculture’s contribution to the economy while simultaneously mitigating the unemployment problem by mobilizing more young men and women in the cities to return home to work in the agricultural sector.”
No rival clique challenged Xi during the plenum, and his position remains unassailable. Lam thus concluded, “If Xi’s proposed reforms for the economy do not have the desired effects, and the deep structural issues are not resolved, the balance of power within the party could finally start to shift. For now, however, Xi remains the undisputed core of the party and of the country.”
Xi is also guaranteed to remain as General Secretary and commander-in-chief for a fourth five-year term, from 2027-32. Incidentally, there was speculation that Xi’s wife, Peng Liyuan, might be elevated to the Politburo. However, her accession failed to materialize.
After this Third Plenum, Thomas offered this prognosis, “Xi is clear on where he wants China to go. It is unclear what could change his mind – perhaps an economic collapse that decisively discredits his policies, though that seems unlikely. Likelier is gradual stagnation that exacerbates social instability and political uncertainty. For now, we must search for actions rather than words.” (ANI)
Xi Jinping has followed the GHQ Rawalpindi guidebook on how the arsonist can pretend to be the firefighter where Ukraine and Gaza are concerned, writes Prof. Madhav Das Nalapat
General Pervez Musharraf succeeded in convincing George W. Bush that Pakistan was not part of the problem in Afghanistan but essential for the solution. This was when it had been clear throughout the 1990s that GHQ Rawalpindi had not jettisoned its 1980s policy of boosting the Taliban but was continuing to support the extremist militia.
President Bill Clinton formed an administration riddled with fellow travellers of the Sino-Wahhabi lobby that was successful in pursuing a pro-Pakistan policy that opposed India on Kashmir and on issues such as technology transfer to, or development of nuclear power by, India. His final gift to GHQ Rawalpindi was to give the soon-to-be-ousted Prime Minister Nawaz Sharif a face-saving exit from Kargil.
Had the people in Pakistan understood the dimensions of the defeat by India of the Pakistan military in the Kargil war, Musharraf could not have sold the untruth that his army was “stabbed in the back” by Nawaz Sharif in Kargil war despite being on a winning trajectory. In fact, the situation was catastrophic for the Pakistan army.
However, the untruth of the army being done in by Nawaz Sharif gave Musharraf cover to oust the civilian administration of Nawaz Sharif and install open military dictatorship on 12 October 1999. Sharif had done his job by being the scapegoat for Kargil and was disposable, as was Imran Khan later when it became clear by February 2023 that the former cricketer could not persuade the US and its allies to once again lavish kinetic and non-kinetic assistance on a massive scale to Pakistan.
By choosing Pakistan rather than India as its ally in the Afghan war in 2001, President Bush made inevitable the day when, twenty years later, the US surrendered Afghanistan to the Taliban. GHQ Rawalpindi ensured in plain sight during the next twenty years that the Taliban not merely survived the US assault on it but grew strong enough since its rout in 2001 to emerge as the most powerful force in the country by 2015.
Xi Jinping has followed the GHQ Rawalpindi guidebook on how the arsonist can pretend to be the firefighter where first Ukraine and later Gaza are concerned. Just before the invasion of Ukraine by the Russian army began in February 2022, he had a meeting in Beijing with President Vladimir Putin and it is impossible to believe that he was not informed of the impending war by his Russian friend.
Since the invasion began, CCP General Secretary Xi has ensured that the Russian war machine has been given the help it needed to ensure that the proxy war between NATO and Russia on the territory of Ukraine went on despite unprecedented support from that alliance for Volodymyr Zelenskyy’s war objectives. As matters stand, the Ukraine war will drag on, exactly what Xi Jinping seeks to ensure that US attention and activity get diverted from East Asia back to Europe.
Even if Trump were to cease US help to Ukraine, some NATO members may remain committed to carrying on the ultimately hopeless war that they have been waging against Russia in Ukraine since 2022. Xi would like the Russia-Ukraine war to continue so that the attention of the members of NATO would continue to be diverted.
Even after the conflict ends, resources from within NATO members will need to commit to the rebuilding of Ukraine rather than to strengthening force postures in the Indo-Pacific and ensuring Taiwan is finally given the attention and resources needed to deal with a PRC invasion. Unless Taiwan does get the requisite quantity of weapons and is assured of direct involvement of Japan and the US on its side during such an existential conflict, the island country would need to endure much dev astation in the course of a PLA invasion.
According to sources aware of planning exercises within the PLA Taiwan War Room, which has been set up in a small inland city close to the east coast of China, those involved in scenario building for an invasion and occupation of Taiwan believe that disillusionment with existing conflicts such as Gaza and Ukraine are leading to a war fatigue among the public within US and other NATO countries which would be strong enough by 2026 to ensure that public protests against direct involvement in a Taiwan war are substantial.
The Taiwan War Room of the PLA believes that should the US stay outside the conflict and avoid a direct kinetic role, anti-war groups in Japan would be strong enough to prevent that formidable military power from intervening.
It needs to be added that the agitprop machinery of the CCP is skilled in ensuring such street protests and antipathy to conflict, after years of success in boosting the levels of participation and violence of such protests in the US and its allies through the efforts of CCP offshore networks. A prolonged war is what the Taiwan War Room seeks to ensure in Ukraine and Gaza, behind the pacifist CCP camouflage of public statements and diplomacy.
Despite visible and rising support by China for Russia since the start of the Ukraine war, leaders from the NATO and EU member states continue travelling to Beijing to try and persuade Xi to use his influence over Putin to make the latter stop the war by accepting some of Ukraine’s peace terms. The latest peacemaker from the EU is Prime Minister Viktor Orban of Hungary.
In 2023, Hamas launched a terror attack on Israel that made inevitable a strong response from the IDF to destroy the military wing of Hamas or face an existential threat to Israel. Its military capacities are what has kept Gaza under the control of the terror group since it eliminated Fatah in the strip during 2007.
From the manner in which the planning of the attack took place, including targeting a music festival in which thousands of youth participated to knowing that the security around the event and in the next door village was lax, it was clear Hamas had outside help.
From the start, the CCP has made no secret of its support for Hamas, and by bringing together all the Palestinian factions both extremist and peace-oriented in Beijing just weeks ago, the CCP has ensured that Hamas and others opposed to the existence of Israel among the Palestinian factions were, as a consequence of the unity conference, assisted in spreading to the West Bank as well and not just Gaza.
This raises the prospect of fresh waves of terror attacks on Israel from such groups, including from within the West Bank. As a consequence, the battle between Israel and some of the Palestinian factions intent on violence against the Jewish state is likely to outlast even an end to the war in Gaza. With the Palestinian Unity conference at Beijing, in which Mahmoud Abbas was absent, the conflict between the IDF and sections of the Palestinian factions seems headed towards becoming another “Forever War”.
Republican Vice-Presidential nominee J.D. Vance is correct when he states Taiwan is more essential to US security than Ukraine. He would be the Vice-President of a President who in his previous stint in the White House made his Secretary of State Mike Pompeo sign an Instrument of Surrender at Doha in November 2020
Such a boon to the Taliban was operationalised by President Biden soon after he assumed the US Presidency. China now occupies some of the key military facilities set up by the US in Afghanistan since 2001, including the Bagram military base.
Only an end of the Ukraine and Gaza wars by the close of the year would ensure that US resources in particular get diverted to Taiwan and other hotspots in the Indo-Pacific before preparations are complete for a kinetic attack by the PLA. As yet, unless the PRC gets subjected to much more substantive pressure from the US and its key allies through economic and other measures than is presently the case, Xi remains on track in his thus far successful efforts at ensuring that the Ukraine and Gaza wars continue.
The effort is for such a state of affairs to go on until the Taiwan War Room serving the CCP determines that direct or even Ukraine-level US involvement to a kinetic assault on a country indispensable for the security of the Indo-Pacific is no longer politically feasible for the US President because of growing public pressure within to not get into a conflict with the other superpower.
Su was also a former deputy secretary of the leading Party members group of the Standing Committee of the Fujian Provincial People’s Congress….reports Asian Lite News
Su Zengtian, formerly a vice chairman of the Standing Committee of the Fujian Provincial People’s Congress, has been expelled from the Communist Party of China (CPC) over serious violations of Party discipline and laws, according to an official statement issued Wednesday.
The decision was made following an investigation by the CPC Central Commission for Discipline Inspection (CCDI) and the National Commission of Supervision (NCS) upon the approval of the CPC Central Committee, according to the statement by the CCDI and NCS.
Su was also a former deputy secretary of the leading Party members group of the Standing Committee of the Fujian Provincial People’s Congress.
According to the statement, Su has lost his ideals and convictions and has refused to cooperate with the investigation against him.
Failing to abide by the central Party leadership’s eight-point decision on improving conduct, he attended banquets, accepted travel arrangements, and sought benefits for others in the selection and appointment of officials, as well as in the election of deputies to the people’s congress, according to the findings of the investigation.
He was found to have accepted money, gifts and consumer cards in violation of regulations, involved in money-for-sex and power-for-money trades, and abused his position to benefit others in land transfers, enterprise operations and job promotions, receiving substantial amounts of property in return.
Su had committed duty-related violations and is suspected of the crime of accepting bribes and abuse of power, according to the statement, Xinhua news agency reported.
Su’s illicit gains will be confiscated, and the case will be transferred to procuratorial authorities for examination and prosecution in accordance with the law, the statement noted.
