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  • #61
    China issues white paper on Asia-Pacific security cooperation

    BEIJING, Jan. 11 [2017] (Xinhua) -- China on Wednesday issued a white paper on policies related to Asia-Pacific security cooperation, which also clarified the nation's stance on issues of regional concern.


    Highlights:

    • China is prepared to take on greater responsibilities for regional and global security
    • Small- and medium-sized countries need not and should not take sides among big countries
    • Regional and international rules should be set through discussion with all countries concerned rather than being dictated by any particular country, and rules of individual countries should not automatically become international rules.
    • China remains committed to resolving disputes peacefully through negotiation and consultation and upholding peace and stability as well as freedom of navigation and overflight in the South China Sea.



    On territorial issues,


    China has indisputable sovereignty over the Nansha Islands and their adjacent waters. The Diaoyu Islands are an integral part of China's territory. China's sovereignty over the Diaoyu Islands has a sufficient historical and legal basis.

    In response to Japan's negative moves concerning historical and maritime territory issues, China urges Japan to abide by the four political documents and the four-point principled agreement on bilateral relations, properly manage and control disputes and conflicts, and avoid creating obstacles to the improvement of bilateral relations.


    Policy on Korea is muddled: look out for your own security, but don’t point those anti-ballistic missiles at me:


    The anti-ballistic missile issue concerns global strategic stability and mutual trust among major countries. China always holds the view that the anti-ballistic missile issue should be treated with discretion. Forming Cold War style military alliances and building global and regional anti-ballistic missile systems will be detrimental to strategic stability and mutual trust, as well as to the development of an inclusive global and regional security framework. Countries should respect other countries' security concerns while pursuing their own security interests, and follow the principle of maintaining global strategic stability without compromising the security of any country so as to jointly create a peaceful and stable international security environment featuring equality, mutual trust and mutually beneficial cooperation.

    Despite clear opposition from relevant countries including China, the US and the Republic of Korea (ROK) announced the decision to start and accelerate the deployment of the THAAD anti-ballistic missile system in the ROK. Such an act would seriously damage the regional strategic balance and the strategic security interests of China and other countries in the region, and run counter to the efforts for maintaining peace and stability on the Korean Peninsula. China firmly opposes the US and ROK deployment of the THAAD anti-ballistic missile system in the ROK, and strongly urges the US and the ROK to stop this process.


    Interesting lack of self-confidence on cybersecurity:

    cyberspace should be used to promote economic and social development, maintain international peace and stability, and improve the well-being of mankind. Countries should strengthen dialogue and cooperation on the basis of mutual respect, equality and mutual benefit, and build a peaceful, secure, open and cooperative cyberspace and a multilateral, democratic and transparent international Internet regime. It is imperative that a universally accepted international code of conduct is formulated within the UN framework.


    There’s also a side note for Mr Trump:

    China is willing to promote the sustainable, sound and stable advance of bilateral relations, and work with the new US administration to follow the principles of no conflict, no confrontation, mutual respect and mutually beneficial cooperation, increase cooperation in bilateral, regional and global affairs, manage and control divergences in a constructive way, and further bilateral relations from a new starting point, so as to bring benefits to the two peoples and other peoples around the world.


    Full text:
    http://news.xinhuanet.com/english/ch..._135973695.htm
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    • #62
      Resolving China’s Corporate Debt Problem – an IMF Working Paper

      This late 2016 IMF study identifies credit to nonfinancial corporates as the main problem, not credit to households or to the central government. However, these nonfinancial corporates include local government financing vehicles, which means that there is an accounting action that can greatly reduce the problem: writing off local government debt to state-owned banks.

      Loans from the shadow or underground financial system are much less stable. However, they are also less systemic. The key risk here is where households have invested in unregulated “wealth management” products. The main solution is proper regulatory oversight backed up by an independent judicial system, which is to say, there is no solution.

      As the report notes, “The state controls most of the financial sector and SOEs which constitute the most leveraged part of the corporate sector.” That makes it, at least in part, an accounting problem. Understandably, there is no mention of the very poor quality of China’s statistics, which makes the IMF’s favorite solutions more difficult to justify.

      One thing we learned from the Asian Financial Crisis is that the first estimate of total nonperforming loans (for China, about 5%) ends up being one-third of the final figure, i.e., 15% in China’s case, which is painful but not dangerous.

      Finally, the comparison to other country’s financial crises is largely unhelpful. Thailand, for example, ran into trouble via a fixed exchange rate, unwarranted low interest rates and a foolish effort by the central bank to fight speculators. Spain was caught by the over-valued euro and easy cross-border capital movements. China has neither of these problems.

      Resolving China’s Corporate Debt Problem – an IMF Working Paper
      https://www.imf.org/external/pubs/ft...16/wp16203.pdf
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      I'm an economist!

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      • #63
        just couldn't find an Israel- China thread, so this might be the closest sub-thread.

        https://www.nytimes.com/2020/05/17/w...or-du-wei.html

        ....... Natural causes, or CIA? .................. Or something else? .............

        By David M. Halbfinger and Adam Rasgon
        May 17, 2020
        Updated 2:23 p.m. ET


        JERUSALEM — China’s ambassador to Israel, who took up his post in February, was found dead at his home on Sunday morning in a coastal suburb north of Tel Aviv, officials said.

        The ambassador, Du Wei, was found in his bed in Herzliya by an embassy worker, officials said. The Israeli police found no reason to suspect foul play in the death of Mr. Du, 57, officials said, and in preliminary findings, the Chinese government attributed his death to unspecified health problems.

        Investigators — including Chen Kugel, the head of Israel’s National Center of Forensic Medicine — declined to comment as they left the ambassador’s residence. Mr. Du’s wife and son were not in Israel at the time, according to Israel’s Ministry of Foreign Affairs.

        Mr. Du arrived in Israel on Feb. 15 and quarantined for two weeks because of the coronavirus pandemic before meeting officials of the Israeli Ministry of Foreign Affairs on March 3.

        He sent his credentials to President Reuven Rivlin on March 23 rather than formally presenting them himself because of restrictions on face-to-face meetings, officials said.

        Mr. Du had served in China’s Ministry of Foreign Affairs for more than 30 years, according to a biography on the Chinese Embassy’s website. His first ambassadorship was to Ukraine, from 2016 to 2019.

        His stint in Israel put Mr. Du in the middle of an increasingly tense dynamic that is creating friction between Israel and the United States. China has been investing heavily in Israel in recent years, taking stakes in hundreds of technological start-ups and acquiring a controlling interest in the dairy food-processing company Tnuva.

        But Israel has antagonized Washington by allowing Chinese companies to make major infrastructure investments in recent years, including in sensitive locations. A company majority-owned by the Chinese government has signed a 25-year lease to run Israel’s commercial seaport in Haifa, a frequent port of call for the United States Navy, beginning in 2021.

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        • #64
          Originally posted by phoneix99 View Post
          just couldn't find an Israel- China thread, so this might be the closest sub-thread.

          https://www.nytimes.com/2020/05/17/w...or-du-wei.html

          ....... Natural causes, or CIA? .................. Or something else? .............

          By David M. Halbfinger and Adam Rasgon
          May 17, 2020
          Updated 2:23 p.m. ET


          JERUSALEM — China’s ambassador to Israel, who took up his post in February, was found dead at his home on Sunday morning in a coastal suburb north of Tel Aviv, officials said.

          The ambassador, Du Wei, was found in his bed in Herzliya by an embassy worker, officials said. The Israeli police found no reason to suspect foul play in the death of Mr. Du, 57, officials said, and in preliminary findings, the Chinese government attributed his death to unspecified health problems.

          Investigators — including Chen Kugel, the head of Israel’s National Center of Forensic Medicine — declined to comment as they left the ambassador’s residence. Mr. Du’s wife and son were not in Israel at the time, according to Israel’s Ministry of Foreign Affairs.

          Mr. Du arrived in Israel on Feb. 15 and quarantined for two weeks because of the coronavirus pandemic before meeting officials of the Israeli Ministry of Foreign Affairs on March 3.

          He sent his credentials to President Reuven Rivlin on March 23 rather than formally presenting them himself because of restrictions on face-to-face meetings, officials said.

          Mr. Du had served in China’s Ministry of Foreign Affairs for more than 30 years, according to a biography on the Chinese Embassy’s website. His first ambassadorship was to Ukraine, from 2016 to 2019.

          His stint in Israel put Mr. Du in the middle of an increasingly tense dynamic that is creating friction between Israel and the United States. China has been investing heavily in Israel in recent years, taking stakes in hundreds of technological start-ups and acquiring a controlling interest in the dairy food-processing company Tnuva.

          But Israel has antagonized Washington by allowing Chinese companies to make major infrastructure investments in recent years, including in sensitive locations. A company majority-owned by the Chinese government has signed a 25-year lease to run Israel’s commercial seaport in Haifa, a frequent port of call for the United States Navy, beginning in 2021.
          Nope.
          Not this thread.
          We have one for crazy conspiracy theories that might be appropriate.
          Trust me?
          I'm an economist!

          Comment


          • #65
            Originally posted by phoneix99 View Post
            just couldn't find an Israel- China thread, so this might be the closest sub-thread.

            https://www.nytimes.com/2020/05/17/w...or-du-wei.html

            ....... Natural causes, or CIA? .................. Or something else? .............

            The Israeli police found no reason to suspect foul play in the death of Mr. Du, 57, officials said, and in preliminary findings, the Chinese government attributed his death to unspecified health problems.
            I'll go with natural causes

            His stint in Israel put Mr. Du in the middle of an increasingly tense dynamic that is creating friction between Israel and the United States. China has been investing heavily in Israel in recent years, taking stakes in hundreds of technological start-ups and acquiring a controlling interest in the dairy food-processing company Tnuva.

            But Israel has antagonized Washington by allowing Chinese companies to make major infrastructure investments in recent years, including in sensitive locations. A company majority-owned by the Chinese government has signed a 25-year lease to run Israel’s commercial seaport in Haifa, a frequent port of call for the United States Navy, beginning in 2021.
            China is investing in tech start ups. Not defense companies. Latter would be more eyebrow raising.

            They manage ports in a few countries already. No big deal.

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