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Thread: Eurasia Topics

  1. #1251
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    One of the darkest days for U.S. democracy


    Updated 22:41, 11-Jan-2021

    Wang Guan

    "Editor's note: An outgoing president incited an uprising against his democratically-elected opponent, causing bloodshed, real or surreal? Is the Capitol riot one of the darkest days for U.S. democracy? CGTN anchor Wang Guan explains in this week's Reality Check with Wang Guan.

    You would think this was some country in the Middle East or Africa where Washington preached free and fair elections or intervened militarily to install a democracy.

    But it is the United States.

    A sore loser, who lost to his challenger by seven million votes and some 70 electoral college votes, and lost most of the lawsuits defying these results, instigated a mob that looted and attacked Capitol Hill to stop the final vote count to certify Biden's win.


    And where were the Trumps during the protests?


    As the chaos unfolded, the Trump family were cheering the protesters and celebrating Eric Trump's birthday. "Never thought I would have 150,000 people sing me happy birthday on the National Mall in Washington D.C!" Eric Trump tweeted.


    The next day Kenya's national newspaper, the Daily Nation, asked, "Who's the banana republic now?" The U.S. has used the term "banana republic" to describe fragile democracies around the world.

    Colombia's national paper Publimetro asked the same question.

    Reacting to the Capitol riot, Palestinian-American scholar Yousef Munayyer tweeted the same day, "We exported so much democracy that we don't have any left."

    But now, those who believe in the superiority of U.S.-style democracy should think twice. It has a lot to do with Trump. But the social and economic division that escalated these violent right-wing nationalists started before Trump. And the damage done to America's democratic institutions, like the press and the judiciary, may not perish even after Trump's presidency.


    And through it all, Washington's double standards have reappeared.


    U.S. officials from both the left and right condemned the Capitol Hill rioters, with Joe Biden even calling them "domestic terrorists." Nancy Pelosi said, "Today, a shameful assault was made on our democracy."


    But during the violence in Hong Kong when rioters raided and vandalized the legislature, set metro stations on fire and threw petrol bombs at police, even stabbing one of them in the neck, U.S. officials called them "pro-democracy activists." About these protests, Nancy Pelosi once commented, "It's a beautiful sight to behold and I commend the courage of the people there for speaking out."


    Of course, one group is "domestic terrorists" and the other "pro-democracy activists."


    We've seen this before, haven't we?


    Islamists who attacked the U.S. and its allies have been called "terrorists," whereas extremists killing innocents in China were "repressed ethnic minorities."

    In U.S. elections, there could only be "Russian interference" because when Washington triggered a coup in Ukraine in 2014, it was allegedly "supporting democracy."

    Kings and amirs in the Persian Gulf were Washington's "friends and allies," while elected leaders in Syria and Zimbabwe were "dictators" and their elections "manipulated."


    Now back to the Capitol Hill riots. What was I thinking when I saw those images? Trump's inaugural speech four years ago. I was there. I was a Washington-based correspondent back then. And I can tell you I had much better memories of America before that day when Trump delivered his sacred and seemingly great speech.

    "The Bible tells us how good and pleasant it is when God's people live together in unity," he said. "We must speak our minds openly, debate our disagreements honestly, but always pursue solidarity."


    One of the darkest days for U.S. democracy - CGTN


    A video of his opinion piece is at the link.
    A tray full of GOLD is not worth a moment in time.

  2. #1252
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    The chinkies writing about Democracy.

    Good joke hoohoo, that's one of your better ones.


  3. #1253
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    Quote Originally Posted by harrybarracuda View Post
    The chinkies writing about Democracy.
    Most of them are just dying to try it

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    China, Philippines sign contract to build railway on main Luzon Island


    Source: Xinhua| 2021-01-16 1121

    "China and the Philippines signed a contract on Saturday to build a railway on the main Luzon Island, the Chinese Embassy in Manila has said. The Subic-Clark railway project, which will cost approximately 940 million U.S. dollars, will be bank-rolled by China, and it will be the highest-funded G-to-G cooperation project between China and the Philippines so far.

    The railway, a flagship project under the "Build Build Build" program, is a 71-km single-track cargo railway connecting Subic Bay Freeport Zone and Clark International Airport and linking the country's North Railway Project.

    The railway will mainly adopt Chinese standards, and the construction period is estimated to last 42 months. In the long term, the extension of the railway will reach the New Clark City.

    "Once completed, the railway will build a resilient linkage between ports, railways, and airports along the Subic-Clark corridor, which will improve the logistic efficiency, trim the transportation cost and support the potential demand for freight services and economic activities in the region," the Chinese Embassy said.

    The Chinese government and the Philippine government will soon kick off the loan agreement negotiation of the project, the embassy added.

    In 2017 the Philippine government initiated the "Build, Build, Build" infrastructure program, which intended to spend 8 to 9 trillion pesos (roughly 160 billion to 180 billion U.S. dollars) in the medium term, to improve the country's public transportation system."

    China, Philippines sign contract to build railway on main Luzon Island - Xinhua | English.news.cn

  5. #1255
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    I daresay Duterte has a nice savings account somewhere with the proceeds of his agreement to borrow chinky money at ludicrous rates to pay for chinky labour on chinky vanity projects.

    While Chinese loans appear to be attractive, they are not, in reality, that benevolent, and could be harmful to the country in the long term.

    These loans are 1,100 per cent more expensive than the ones from Japan. They come with an interest rate of 2 per cent to 3 per cent, while loans from Japan have interest rates between 0.25 per cent and 0.75 per cent, or 12 times cheaper than those from China.

    However, Socioeconomic Planning Secretary Ernesto M Pernia said that the Philippines cannot get all the loans it needs from Japan. “Between 2 per cent and 3 per cent interest rate is still much better than commercial loans,” he said.

    But here’s the caveat: China has a pattern of funding infrastructure projects in poorer countries in exchange for better relations and regional access, a trend called debt-trap diplomacy. One of the vehicles for this strategy is China’s Belt and Road Initiative, a trillion-dollar project to link 70 countries in Asia, Oceania, Africa and Europe with railway lines and shipping lanes. To fund the infrastructure projects, which are attractive to poorer and underdeveloped countries that struggle to secure traditional financing like the Philippines, China offers huge loans that have higher interest rates. In return, natural resources are used as collateral, which China can then control if a country defaults on its repayments.


    China’s loans can also come with other strings. In the Philippines, Chinese-owned contractors will be required to work on the infrastructure projects, rather than supporting local companies and workers.


    A cautionary example: Last year, with more than $1 billion in debt to China, Sri Lanka handed over a port to companies owned by the Chinese government.


    According to the Washington-based Centre for Global Development (CGD), a nonprofit research organisation, nations participating in the current Belt and Road investment plan that will default in their loan repayments will eventually find themselves at the mercy of Beijing. It said eight nations are now vulnerable to above-average debt: Djibouti, Kyrgyzstan, Laos, the Maldives, Mongolia, Montenegro, Pakistan and Tajikistan.
    Philippines must beware those loans from China

  6. #1256
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    How "Belt and Owed" works:

    • First, China offers to build and finance infrastructure projects in a developing country even if such projects have low expected returns or are wholly unfeasible.
    • Second, the borrower-country, often small and poor, finds itself unable to pay.
    • Third, China collects as collateral the borrower-country’s natural resources or strategic assets.

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    Morrison government confusion over China will damage the economy, experts warn

    10:00pm, Jan 15, 2021

    "The Morrison government’s attitude to Chinese investment in Australia is confusing and will exacerbate the growing tensions over trade, China experts have warned.

    The policy confusion was highlighted this week with the blocking of a $300 million takeover of Australian construction group Probuild by a Chinese consortium, with Treasurer Josh Frydenberg citing national interest grounds.

    It follows a similar intervention by the Treasurer in August when he blocked a $600 million sale of Lion Dairy & Drinks to China’s Mengniu Dairy Co.
    “Lion was owned by Japanese interests so we had Frydenberg blocking the sale of a Japanese-owned, Australian-based dairy and drinks manufacturer to a Chinese buyer, saying it wasn’t in the national interest,” said James Laurenceson, director of the Australia-China Relations Institute at UTS.

    It was already foreign-owned so there were clearly no national security issues.

    “Now the purchase of a [ultimately South African-owned] construction company is being blocked citing national security concerns. It’s a bit of a stretch – it’s not like a telco, electricity network or a port.”

    continues:

    China policy confusion damages trade and economy

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    China to work with Philippines to fight COVID-19: Wang Yi

    Updated 11:34, 17-Jan-2021

    "China will stand firmly with the Philippines to jointly fight against the COVID-19 pandemic and push for economic recovery, visiting Chinese State Councilor and Foreign Minister Wang Yi said on Saturday.Wang made the remarks during a meeting with Philippine President Rodrigo Duterte, saying that China has decided to donate a batch of COVID-19 vaccines to the Philippines for its urgent need.

    And China will help the Philippines to facilitate vaccine procurement from Chinese enterprises, the Chinese foreign minister added, emphasizing that cooperation is the best way to defeat the pandemic.

    The Department of Health (DOH) of the Philippines on Saturday announced 2,058 new confirmed COVID-19 cases, bringing the country's confirmed COVID-19 cases to 498,691.
    The death toll climbed to 9,884 after eight more patients died from the disease, the DOH said. A total of 460,133 patients have recovered so far.
    In addition, China will also help the Philippines' economic recovery and strengthen the two countries' cooperation in the post-pandemic period.

    According to Wang, China and the Philippines have successfully completed 11 joint projects with the construction of some others underway. The negotiations are goging on over some new projects.

    Wang said that China firmly supports efforts made by the Philippines to safeguard national sovereignty.
    China is willing to work with the Philippines to defend the fundamental interests of developing countries and to maintain international peace and stability, he added.
    For his part, Duterte appreciated China's support to the country in fighting against the pandemic, especially for the timely vaccine aid, adding that the country looks forward to more cooperation with China on COVID-19 vaccine.
    He said that the Philippines is also willing to strengthen cooperation with China to push forward the economic recovery, noting that China has played an important role in promoting regional economic recovery.

    After meeting with Duterte, Wang held talks with Philippine Foreign Secretary Teodoro Locsin on Saturday.
    Wang hailed the close ties between the two countries, saying bilateral relations have withstood various tests, and the friendship between the two peoples have been strengthened in jointly combating the COVID-19 pandemic.
    He called for further exchanges and cooperation between the two sides in 2021 with a particular focus on anti-pandemic efforts and economic recovery.

    The two countries should further increase common interests while dissolving differences, strengthen cooperation, unswervingly follow the course charted by the leaders of the two countries, so that the comprehensive strategic cooperation between the two sides will bear more fruits to benefit the two countries and the two peoples, Wang said.

    Noting that the two countries have completed 11 projects while 12 others are in progress or in the pipeline, and 12 more are under negotiation, Wang expected more fruitful results achieved through cooperation under the Belt and Road Initiative.

    The Chinese foreign minister also assured his Philippine counterpart that China is ready to accelerate trade liberalization and facilitation and strengthen cooperation on cross-border e-commerce and finance to share development opportunities and development fruits with Philippines.

    Regarding ties with the Association of Southeast Asian Nations (ASEAN), the two sides agreed to strengthen coordination and cooperation with each other to well hold the commemorative activities with ASEAN countries to mark the 30th anniversary of the dialogue relations between China and ASEAN, upgrade China-ASEAN ties and advance consultation on the Code of Conduct (COC) in the South China Sea.

    China hopes to forge a blue economy partnership and put into force the Regional Comprehensive Economic Partnership (RCEP) agreement at an early date, noted Wang.
    After the meeting, Wang and Locsin witnessed the signing of cooperation documents and the ceremonial unveiling of a plaque to mark the establishment of Bank of China Manila as the Chinese currency renminbi (RMB) Clearing Bank of the Philippines.

    Wang also attended the launching ceremony of the Manila Forum for China-Philippines Relations and the Award for Promoting Philippines-China Understanding via video link with former Philippine President Gloria Macapagal Arroyo.

    The establishment of the forum, is expected to help the two countries strengthen mutual understanding, boost mutual trust and overcome differences."

    China to work with Philippines to fight COVID-19: Wang Yi - CGTN

  9. #1259
    Thailand Expat harrybarracuda's Avatar
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    How is China going to help the Phils fight Covid by giving them defective vaccines?

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    Quote Originally Posted by harrybarracuda View Post
    How is China going to help the Phils fight Covid by giving them defective vaccines?
    Close to 60% effectiveness . . . has emperor Xi had his?

  11. #1261
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    Quote Originally Posted by panama hat View Post
    Close to 60% effectiveness . . . has emperor Xi had his?
    Oh I'm sure Mr. Shithole will claim he has while sneakily getting a Pfizer or Moderna.

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    Dmitry Medvedev: America 2.0. After the election

    Dmitry Medvedev

    Deputy Chairman of the Russian Security Council

    In his op-ed for TASS, Dmitry Medvedev focuses on the internal and external instability currently plaguing the United States

    "It is commonly acknowledged that the biggest economies have a major influence on political and social development of other countries. Crises that they periodically go through affect the global economy and consequently have impact on regional and national economies, as well as on political systems of countries that are sensitive to such impact.

    Yet, it is often overlooked that certain political events, such as elections, can also provoke serious crises in other countries. That is especially so when countries that have a direct influence on the fundamental global processes are concerned.
    In this context, it is worth taking a look at the recent US presidential election. It is not that this presidential campaign, likely the most scandal-ridden in history, proved that the flaws in the US electoral system have a comprehensive nature.

    That is no news."

    Continues at:

    Dmitry Medvedev: America 2.0. After the election - TASS

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    Davos is coming up, 5 world leaders are scheduled to speak. 3 Asian and 2 European.

    Xi to deliver speech at Davos Agenda event

    By AN BAIJIE | chinadaily.com.cn | Updated: 2021-01-19 15:12

    "President Xi Jinping will deliver an important speech at a virtual event to be attended by world leaders next week, Foreign Ministry spokeswoman Hua Chunying said on Tuesday.The five-day Davos Agenda event of the World Economic Forum, starting Monday, will be attended by over 1,500 business, government and civil society leaders from more than 70 countries.

    It would be Xi's second participation in the forum as Chinese president following his most recent appearance in January 2017, when Xi reaffirmed China's firm stance on promoting economic globalization and further promoting opening-up.

    Titled "A Crucial Year to Rebuild Trust", the event will focus on such topics as the economic, environmental, social and technological challenges following the COVID-19 pandemic, the WEF said on Monday.

    Apart from Xi, other world leaders will also attend, including German Chancellor Angela Merkel, French President Emmanuel Macron, Japanese Prime Minister Yoshihide and Indian Prime Minister Narendra Modi.

    Klaus Schwab, founder and executive chairman of the WEF, said at a virtual press conference on Monday facing the challenge of the COVID-19 pandemic, the need to reset priorities and reform systems has been growing stronger around the world.

    The year 2021 will be a crucial year, when mankind will have to continue to engage in the fight against COVID-19 and the need for more resilient, inclusive and sustainable economics will be more urgent, he noted."

    Xi to deliver speech at Davos Agenda event - World - Chinadaily.com.cn

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    Quote Originally Posted by OhOh View Post
    Dmitry Medvedev: America 2.0. After the election

    Dmitry Medvedev

    Deputy Chairman of the Russian Security Council

    In his op-ed for TASS, Dmitry Medvedev focuses on the internal and external instability currently plaguing the United States

    "It is commonly acknowledged that the biggest economies have a major influence on political and social development of other countries. Crises that they periodically go through affect the global economy and consequently have impact on regional and national economies, as well as on political systems of countries that are sensitive to such impact.

    Yet, it is often overlooked that certain political events, such as elections, can also provoke serious crises in other countries. That is especially so when countries that have a direct influence on the fundamental global processes are concerned.
    In this context, it is worth taking a look at the recent US presidential election. It is not that this presidential campaign, likely the most scandal-ridden in history, proved that the flaws in the US electoral system have a comprehensive nature.

    That is no news."

    Continues at:

    Dmitry Medvedev: America 2.0. After the election - TASS

    The opinions on democracy of some sycophant who only has his job because he's been handpicked by a dictator is worth as much as one of your chinky propaganda posts.

    Like this even more hilarious one:

    Eurasia Topics-untitled-jpg

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    China cherishes Hanoi’s nay to ‘Quad’

    January 25, 2021 by M. K. BHADRAKUMAR

    Eurasia Topics-vietnam-3-768x512-jpg

    "
    The 13th National Congress of the ruling Communist Party of Vietnam got under way in Hanoi on January 25, 2021

    "The 13th national congress of Vietnam’s ruling communist party, which began in Hanoi on Monday is an event of exceptional significance for the country’s internal politics and future trajectory of development, regional politics and the geopolitics of the Asia-Pacific. The party congress lasting nine days is expected to pick a new leadership team and approve the road map for national policies for the coming 5-year period and beyond.

    Most analysts estimate that party chief and president Nguyen Phu Trong will continue for a third term and the trajectory of economic, domestic and foreign policy-making will continue on the trajectory set in 2016 at the last party congress.

    The Communist Party of Vietnam is in a celebratory mood in its 70th anniversary this year. The fact that 1600 delegates can assemble in a large hall and confabulate face-to-face over the coming nine days bears testimony to Vietnam’s phenomenal success in curbing coronavirus. The country has reported just over 1,500 infections and 35 deaths in total.

    In turn, this fantastic success has enabled the country’s economy to outstrip much of Asia in the past year. Vietnam expects an average annual gross domestic product growth of 7 percent over the next five years. Its agenda is to keep up the pace of industrialisation and modernisation and emerge as a “modernity-oriented industrialised country” (middle-income country) by 2030 and a “modern, industrialised country” (high-income country) by 2045.

    Succinctly put, another profound test of socialist democracy is unfolding in Asia, second only to China’s. Being one of the fastest growing economies in the Asia-Pacific — in a good position to escape the COVID-19 economic trap — a linchpin of regional stability and potentially one of the world’s most important tech manufacturing hubs and the fastest-growing digital economy in Southeast Asia, Vietnam is emerging as a powerhouse within the ASEAN.

    Political stability is one of the main factors that has helped Vietnam pursue its economic development policy. The eclipse of the pro-west bloc of business-friendly cadres led by former Prime Minister Dung at the 2016 Party Congress has made all the difference. Equally, Nguyen Phu Trong’s continuance as the Party chief, making him the longest-serving General Secretary since Le Duan, the leader who took control and led the country after the death of Ho Chi Minh, has provided enormous continuity.

    As has happened in China, Vietnam’s economic success bolsters the communist party’s legitimacy. Trong’s biggest achievement has been that he not only astutely addressed the challenge of balancing Vietnam’s relations with China and the US but could effectively leverage the Sino-American rivalry to his country’s advantage.

    Fundamentally, Trong saw that the China-US strategic competition held the risk of destabilising the regional geo-strategic and economic environment. It posed a major challenge for Vietnam, given that the country’s economy is very open and highly dependent on international trade and foreign investment. But the pathway Trong chose was one of expanding and deepening Hanoi’s engagement with both Beijing and Washington.

    Put differently, Trong strove to minimise negative impact by taking advantage of opportunities, especially from China in trade and investment.

    Economically, Vietnam has good relations with both China and the US. Clearly, any redirection of global trade can only work to Vietnam’s advantage. Simply put, the current trade dispute between Beijing and Washington has put Hanoi into an even better position, as multinationals now operate in Vietnam, including global tech giants like Apple and Samsung.

    On the other hand, the disruption in China’s supply chains due to Trump’s trade war (and the pandemic) has prompted Beijing to create new supply chains, preferably from the Asian region. This has benefitted Vietnam. And, importantly, the Regional Comprehensive Economic Partnership (RCEP) under which a new matrix of Asan supply chains is in the making shortly will only reinforce this trend in the coming period.

    Thus, China-Vietnam trade kept the momentum despite the constraints of the Covid-19 pandemic. To be sure, Vietnamese leaders are also acutely aware of China’s importance to Vietnam’s security and economic well-being. And the complicated and often tense maritime dispute in the South China Sea and complex issues surrounding the development of the Mekong river notwithstanding, China remains the largest source of materials and equipment for Vietnam’s thriving manufacturing industry.

    China is today Vietnam’s largest trading partner and the latter is China’s sixth biggest trading partner. Interestingly, China understands and accepts that the US influence on China-Vietnam relations is a fact of life — and, furthermore, Washington will keep interfering in maritime disputes in the South China Sea between Vietnam and China. There were anxious moments when the Trump Administration made a strong pitch to engage with Vietnam as a critical partner in its South China Sea strategy and to induct it as member of the so-called “Quad” to oppose China.

    However, Trong steered clear of the American trap, and was wise enough to pursue a policy rooted in the belief that stability, rights and development are templates that are subtly chained together and are inseparable except at triggering disharmony. He kept up a sustained dialogue with the Chinese leadership and Beijing could sense that Vietnam had no intention of turning into a puppet of the Americans. This policy of strategic autonomy has raised the comfort level in China-Vietnam relations.

    From the ideological perspective, the success of Vietnam’s journey of socialist development while on a steady reform path cannot but be of interest to China. It strengthens the fraternal bonds between the two communist parties. A commentary in the Global Times on January 24 observed that under the guidance of the Vietnamese communist leadership under Trong, “Vietnam will continue to maintain a stable and rapid development trend, deepen its reform and integrate into the world, fulfill the obligations of various trade agreements, and thus prepare itself for a higher status on the world stage… To develop socialist path that accords to each country’s national condition is a key bond between Beijing and Hanoi.”

    The commentary concluded with the hope that “The main leadership (under Trong) will surely continue to lead the Central Committee of the CPV to adhere to the established diplomatic policy of independence, multilateralism, and diversification.”

    China cherishes Hanoi’s nay to ‘Quad’ - Indian Punchline

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    Full text: Xi Jinping's speech at the virtual Davos Agenda event

    Updated 00:03, 26-Jan-2021

    "Let the Torch of Multilateralism Light up Humanity's Way Forward"


    Available here:

    Full text: Xi Jinping's speech at the virtual Davos Agenda event - CGTN

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    National Congress of the Communist Party of Vietnam to keep growth momentum


    By Li Jiangang Published: Jan 24, 2021 11:17 PM



    Photo taken on Dec. 26, 2018 shows the scene of the closing ceremony of the ninth plenary session of the 12th Communist Party of Vietnam Central Committee (CPVCC) in Hanoi, capital of Vietnam. (Xinhua/VNA)

    "The year 2020 marked the 90th founding anniversary of the Communist Party of Vietnam (CPV). Vietnam has realized major achievements in pandemic prevention and economic stabilization. It is recognized as a world role model for its pandemic control measures, and annual economic growth of 2.91 percent for 2020. As such, it is a bright spot of Asia's regional economic development. The "Vietnam model" has therefore been receiving frequent international media coverage.

    The CPV Central Committee General Secretary and President Nguyen Phu Trong declared that 2020 was, "Vietnam's most successful year in the last five years." At this critical moment in Vietnam's history, the 13th National Congress of the CPV will be held from January 25 to February 2 to continue the country's journey of socialist development.

    At the Party's eighth plenary session of the 12th Central Committee of the CPV in October 2018, five interim sub-committees were formed to draft the key documents for the 13th Party Congress. The draft documents of the 13th Party Congress report were published for public feedback in October 2020. It can be seen that the CPV will continue to adhere to the party's leadership, the socialist system, and the reform path.

    Meanwhile, the draft officially brought up the Vietnamese version of "Two Centenaries," according to analysts, which outlines development visions for a prosperous and developed Vietnam. By 2030, Vietnam aims to accomplish its industrialization and modernization, basically becoming a modernity-oriented industrialized country. By 2045, Vietnam aims to become a modern, industrialized country.

    In addition, the draft has further promoted the building of a clean and strong party and political system in all aspects. This ultimately aims to explore deeper developments for the socialist democracy. Furthermore, the draft also indicates a profound desire for national development to continue with careful planning. With the guidance of CPV leadership, Vietnam will continue to maintain a stable and rapid development trend, deepen its reform and integrate into the world, fulfill the obligations of various trade agreements, and thus prepare itself for a higher status on the world stage.

    In the context of China-Vietnam relations, the year 2020 marked the 70th anniversary of their diplomatic ties. This 70-year partnership has gone through more vicissitudes than the 25-year Vietnam-US relationship and the over four decades of China-US relations. To develop socialist path that accords to each country's national condition is a key bond between Beijing and Hanoi. The two countries are indeed committed to a community for a "shared future" on the glorious road of socialist development.

    In 2020, the COVID-19 pandemic brought obstacles to the two countries' trade and supply chains. But even under such a strained scenario, bilateral trade between China and Vietnam kept momentum. China has remained the largest trading partner of Vietnam, and Vietnam recently rose two places in ranking to become China's sixth biggest trading partner. After the 13th Party Congress of the CPV, with the Belt and Road Initiative and the "Two Corridors and One Economic Circle" plan, the potential for the two countries' cooperation will be further unleashed.

    The US will still be a key influence on China-Vietnam relations. After all, Washington keeps interfering in maritime disputes in the South China Sea. Some predict that the Biden administration will view Vietnam as a critical partner in its South China Sea strategy. But years of experiences and lessons have taught the CPV to prioritize political stability over empty promises from Washington. Stability, rights and development are subtly chained together. Vietnam has learned lessons that the US only offers support when it needs it for its global strategic competition. Hanoi will not totally lean toward Washington as a puppet. Striving for balance is the most realistic choice for Vietnam.

    Last, the 13th National Congress of the CPV will elect new leaders. The main leadership will surely continue to lead the Central Committee of the CPV to adhere to the established diplomatic policy of independence, multilateralism, and diversification."


    National Congress of the Communist Party of Vietnam to keep growth momentum - Global Times

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    US rescue of Ecuador from Chinese debt is a trap

    South American country is the most recent success of the US policy to edge out Beijing's business interests

    by Vijay Prashad January 24, 2021

    "
    On January 14, a US government agency decided to pay off part of Ecuador’s debt to China so that the Latin American country could break ties with Chinese telecommunications firms. The US International Development Finance Corporation, which is funded by the US government, provided Ecuador with a loan of $2.8 billion.

    The DFC’s head, Adam Boehler, said the loan goes to Ecuador to “refinance predatory Chinese debt” and to strengthen Ecuador’s alliance with the United States.

    This move by the DFC is not economic as much as political. Ecuador’s development is secondary. What is primary is the US desire to remove Chinese businesses and political influence from Latin America.

    Boehler, a close friend of the Trump family, took over the DFC and has since driven a hard agenda in Latin America against China.
    The DFC was created by the US Congress’ Better Utilization of Investments Leading to Development Act of 2018.

    Subsequent to this act and the formation of DFC, the US State Department developed a project called America Crece, or “Growth in the Americas”. The main goal is to use US government funds – with private assistance – to edge out Chinese business interests from the American hemisphere. Ecuador is the most recent success of the US policy.

    Ecuador’s debt and the 2021 presidential election

    During the Covid-19 pandemic, the debt crisis in developing countries has become a serious problem. The total external debt held by developing countries is estimated to be $11 trillion. Ecuador’s share is roughly $52 billion.

    In mid-2020, Ecuador’s outgoing president Lenin Moreno tried to raise money through multilateral agencies and China to manage $17 billion of this debt, most of which would have to be paid to service the overall debt. Financial markets, unwilling to buy Ecuadoran bonds, balked but Moreno offered to buy back some bonds to raise capital.


    Collapsed oil prices that led to cuts in oil subsidies, a hefty loan from the International Monetary Fund at the cost of austerity measures, and mismanagement of the pandemic battered Moreno’s legitimacy.

    Ecuadorans will go to the polls on February 7 to elect a new president. Moreno is not running. His approval rating fell through the floor as a result of cascading crises, including evidence of grotesque personal corruption, that predate the pandemic.

    A September 2020 poll showed that the left-leaning Andrés Arauz was ahead of a crowded field with close to 46% of the vote, which would allow him to win in the first round. Arauz is an economist who held two ministerial posts in the government of Rafael Correa from 2015 to 2017. He promises to reverse Moreno’s fealty to the United States and his subordination to the IMF’s deflationary policies.

    The US bid to buy out part of Ecuador’s debt to China and to foreclose Ecuador’s ability to buy Chinese tech products comes during an election season. It appears almost certain that Moreno’s political orientation will be reversed by the next president.

    For that reason, the hasty deal cut between Quito and Washington will try to lock whoever wins the February 2021 election into a pro-US and anti-China policy. This is a direct interference in the elections in Ecuador.

    US policy toward China in Latin America


    The DFC’s Boehler is unlikely to survive into the administration of Joe Biden. Boehler brought few skills to his job. Biden will likely replace him with a Democratic Party insider.

    After the deal with Ecuador was announced, Boehler said this deal and the DFC’s America Crece would not be undone by Biden’s team. “This is not a Democratic priority or a Republican priority,” Boehler said. “This is an American priority.” Biden’s team, Boehler said, sees the America Crece instruments as “innovative.”

    Part of the assault on China by the US government has been to paint its loans to Ecuador as predatory. These loans, the US officials say, create a “debt trap” and Boehler said they leave Ecuador at the mercy of a “single authoritarian country.”

    Evidence for either the “debt trap” or of Chinese “influence” on Ecuador is non-existent. In fact, over the last six months of 2020, Chinese banks have been willing to put loan payments on hold until 2022 (this includes a delay on repayment on the $474 million loan to China’s ExIM Bank and on the $417 million loan to the China Development Bank).

    Ecuador’s Finance Ministry says that, for now, the plan is for repayment to start in March 2022 and to end by 2029.

    Moreno took to Twitter to announce these two delays. There were no aggressive measures taken by these two banks nor from any other Chinese financial entity.

    Ecuador took on debt worth around $5 billion from Chinese banks to finance several major infrastructural projects, including the construction of hydroelectric dams. These projects began when oil prices were high. President Correa leveraged oil income to help the transition away from fossil fuels toward renewable energy.

    The collapse of oil prices, the pressure on the country from the oil giants (particularly Chevron), and the political chaos in the country damaged Ecuador’s ability to advance these projects. Chinese banks, over this period, have accommodated the difficulties faced by Ecuador’s government to finance these debts.

    Yet it is based on the very existence of these loans that the US government has made sinister claims about Chinese influence on Ecuador. It is well worth pointing out that China only holds 10% of Ecuador’s total external debt, but it is this debt that has been the focus of attention.
    It allows the US to prosecute its rivalry with China and at the same time camouflage the real source of indebtedness, namely the IMF loans and loans to Western banks. Neither the IMF nor the Western banks has been as generous about their credits as the Chinese banks.

    Conditions

    Chinese banks lent money for the construction projects. These funds came with no conditions. The US government money, on the other hand, came with substantial claims on the government of Ecuador’s policy orientation.

    Quito has had to sign up for Washington’s “Clean Network,” a US State Department project to force countries to build telecommunications networks without a Chinese telecom provider involved in them. This particularly applies to the high-speed fifth-generation (5G) networks. Ecuador pre-emptively joined the Clean Network in November 2020. This opened the door for the DFC loan to Ecuador.

    The deal with Ecuador is not seen as a one-time arrangement. Boehler said this “novel model” can be used by other countries to “eject” China from the hemisphere. If Arauz becomes the next president of Ecuador, he will face the challenge of this US-imposed conflict against China as one of the first obstacles to a fresh start for his country.

    President Moreno and former US president Donald Trump have already begun to sabotage the possibility of Arauz solving the immediate problems of his people."

    https://asiatimes.com/2021/01/us-res...ebt-is-a-trap/
    Last edited by OhOh; 28-01-2021 at 06:26 PM.

  20. #1270
    Thailand Expat harrybarracuda's Avatar
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    You could condense that article down to five words:

    "China ... Predatory ... Lending ... Debt ... Trap".

  21. #1271
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    Quote Originally Posted by OhOh View Post
    Full text: Xi Jinping's speech at the virtual Davos Agenda event

    Updated 00:03, 26-Jan-2021

    "Let the Torch of Multilateralism Light up Humanity's Way Forward"
    . . . until you squash dissent through imprisonment and murder, imprison millions for their religious beliefs, practice genocide and replace the population with your own ethnicity etc...



  22. #1272
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    Quite why OhOh considers Communist Party propaganda from the Global Times/CGTN etc worthy of a "news" thread still baffles me...

  23. #1273
    I'm in Jail

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    ^^ You forgot the beatings and torture

  24. #1274
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    Quote Originally Posted by hallelujah View Post
    Quite why OhOh considers Communist Party propaganda from the Global Times/CGTN etc worthy of a "news" thread still baffles me...
    Who knows . . . especially when he doesn't live there anymore. Odd


    Quote Originally Posted by Latindancer View Post
    ^^ You forgot the beatings and torture
    Yup . . . a nasty regime

  25. #1275
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    Quote Originally Posted by panama hat View Post
    Who knows . . . especially when he doesn't live there anymore. Odd
    However, the best knowledge about the life in criticised country is obtained from a Hollywood style propaganda...

    But not to mistaken it with a "Brainwashing"...

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