•   
  •   
  •   

World China using 'debtbook diplomacy' to spread strategic aims in Asia Pacific

04:26  16 may  2018
04:26  16 may  2018 Source:   cnn.com

Los Angeles triple-murder suspect convicted in China a decade later, reports say

  Los Angeles triple-murder suspect convicted in China a decade later, reports say A Los Angeles triple-murder suspect was tried and convicted in his native China more than a decade after the shocking killings, according to multiple reports. Tai Zhi Cui, 55, was the boyfriend of one of three people found shot to death in a Koreatown restaurant in 2006.Cui had argued with his ex-girlfriend Kyung Hee Kang and her new boyfriend Seong Ung Kim, on the day of the murders, investigators said. He later reportedly walked into Cinyuya Restaurant, where Kang worked, and shot her, Kim and one of the restaurant’s owners, Jae Woong Cho, to death.

The Chinese government is leveraging billions of dollars in debts to gain political leverage with developing countries across Asia and the Pacific , a new report presented to the US State Department claims.

The independent report, written by a pair of Harvard University scholars, identified 16 countries targeted by the Chinese government for “ debtbook diplomacy According to the report, there are a number of ways in which Beijing and state-owned enterprises leverage debt to help China ’s strategic aims .

In this photograph taken on February 10, 2015, shows a general view of the port facility at Hambantota. © LAKRUWAN WANNIARACHCHI/AFP/AFP/Getty Images In this photograph taken on February 10, 2015, shows a general view of the port facility at Hambantota.

The Chinese government is leveraging billions of dollars in debts to gain political leverage with developing countries across Asia and the Pacific, a new report presented to the US State Department claims.

The independent report, written by a pair of Harvard University scholars, identified 16 countries targeted by the Chinese government for "debtbook diplomacy, " with Pakistan, Djibouti and Sri Lanka identified as being most vulnerable.

According to the report, in some cases the huge debts grow to a size too large to pay back, allowing Beijing to leverage the loans to "acquire strategic assets or political influence over debtor nations."

Why US companies are changing their websites to please China

  Why US companies are changing their websites to please China Despite tough talk from the White House, airlines and other major American brands are eager to keep on Beijing's good side.Load Error

The independent report, written by a pair of Harvard University scholars, identified 16 countries targeted by the Chinese government for " debtbook diplomacy , " with Pakistan, Djibouti and Market turmoil spreads to Asia . New security strategy to call China ' strategic competitor,' lay out strategic aims .

In the Pacific , nations such as Vanuatu, Papua New Guinea and Tonga all owe the Chinese Meanwhile Chefitz said Beijing has used infrastructure incentives in the South China Sea to help This story was first published on CNN.com, " China using ' debtbook diplomacy ' to spread its

This could allow the Chinese government to extend its influence across the Indian Ocean and the Pacific, encircling India and Australia as well as helping to consolidate its position in the South China Sea, the report said.

Last month, Australian Prime Minister Malcolm Turnbull said he viewed "with great concern" any foreign military bases being built in the South Pacific, following reports Beijing was in talks with Vanuatu to host Chinese forces.

According to the new report, Vanuatu, just 2,500 kilometers (1,553 miles) off Australia's coast, has taken at least $270 million in Chinese loans in the past decade, worth 35% of its GDP. Both China and Vanuatu have strongly denied there were ever discussions over a PLA military presence on the island.

Kim Jong-un Returns to China for Another Meeting With Xi Jinping

  Kim Jong-un Returns to China for Another Meeting With Xi Jinping The meeting between the North Korean and Chinese leaders came as China tries to regain a central role in the fast-moving diplomacy on the Korean Peninsula. It was announced on China’s state broadcaster, CCTV, which said that Mr. Kim arrived in Dalian on Monday and left on Tuesday.Sign Up For the Morning Briefing NewsletterThe visit came just before China’s premier, Li Keqiang, was scheduled to go to Tokyo on Wednesday to meet President Moon Jae-in of South Korea and Prime Minister Shinzo Abe of Japan. The three are expected to discuss North Korean denuclearization among other issues.Chinese analysts speculated that Mr.

China ’s “ debtbook diplomacy ” uses strategic debts to gain political leverage with economically vulnerable countries across the Asia - Pacific region, the US state department has been warned in an independent report.

The independent report, written by a pair of Harvard University scholars, identified 16 countries targeted by the Chinese government for “ debtbook diplomacy According to the report, there are a number of ways in which Beijing and state-owned enterprises leverage debt to help China ’s strategic aims .

There is also concern in Washington that China is poised to gain control of a major commercial port in Djibouti, where the US and China have military bases.

A US State Department official told CNN Tuesday it encouraged China to promote and uphold internationally accepted best practices in infrastructure development and funding.

"We need to ensure recipients have options that allow them to retain their sovereignty and future control of their economies," the official said.

Sri Lankan construction workers operate heavy equipment at the base of the Hambantota port August 1, 2010. © ISHARA S.KODIKARA/AFP/AFP/Getty Images Sri Lankan construction workers operate heavy equipment at the base of the Hambantota port August 1, 2010. 'Subsidiaries of China'

According to the report, there are a number of ways in which Beijing and state-owned enterprises leverage debt to help China's strategic aims.

In one case, infrastructure built with Chinese loans, has then been leased back to Chinese interests to pay off the original debt.

Trump says he'll will speak to Xi Jinping after Kim Jong Un makes surprise visit to China

  Trump says he'll will speak to Xi Jinping after Kim Jong Un makes surprise visit to China "I will be speaking to my friend, President Xi of China," President Trump tweeted Tuesday morning."I will be speaking to my friend, President Xi of China, this morning at 8:30. The primary topics will be Trade, where good things will happen, and North Korea, where relationships and trust are building," Trump tweeted.

China ’s “ debtbook diplomacy ” uses strategic debts to gain political leverage with economically vulnerable countries across the Asia - Pacific region, the US state department has been warned in an independent report.

“ debtbook diplomacy ,” as well as outlined the second largest economy’s presumed strategy to that the borrowing nations spend the money on building infrastructure using Chinese construction geopolitical analysis, concerns, ties, tensions, geopolitics, diplomacy , Asia - Pacific , China , United

In 2017, an unprofitable Sri Lankan port built with billion-dollar loans from Beijing was leased to Chinese state-owned firms for 99 years to help repay the country's debts.

The report's co-author Sam Parker said there were concerns these ports could be used by Chinese naval vessels once they were under state control. "There's definitely the potential where they can have it go from commercial, to occasional visit, to logistics, to humanitarian and then maybe finally a military base," he said.

In the Pacific, nations such as Vanuatu, Papua New Guinea and Tonga all owe the Chinese government billions of dollars in loans, encircling US allies Australia and New Zealand.

Meanwhile Chefitz said Beijing has used infrastructure incentives in the South China Sea to help break any broad opposition to the Chinese government's territorial ambitions in the contested sea.

Former Australian Foreign Minister Gareth Evans is quoted in the report saying Laos and Cambodia, each of which has borrowed more than $5 billion, are now "wholly owned subsidiaries of China."

'Strategically comforting and tactically terrifying': Chinese leaders are wary of Trump — but they still see an opportunity

  'Strategically comforting and tactically terrifying': Chinese leaders are wary of Trump — but they still see an opportunity Foreign governments are uncertain about President Donald Trump. China, as a rising power, sees his missteps as opportunities to expand its influence. But Trump's unpredictability 1/3 SLIDES © Provided by Business Insider trump xi china us

The Chinese government is leveraging billions of dollars in debts to gain political leverage with developing countries across Asia and the Pacific including Sri Lanka, CNN reported on Wednesday quoting a report. The US version of the debtbook diplomacy is called ""IMF" .

China using ' debtbook diplomacy ' to spread its strategic aims in Asia Pacific . A study released in August by the Sydney-based Lowy Institute found Australia had pledged .72 billion to the Pacific since 2011, whereas Beijing had committed .88 billion in foreign aid to the region.

The US State Department will be briefed on the report in the near future. But both authors said there appeared to be nothing the United States could do to offset China's growing advantage.

"The US government isn't going to throw 1 trillion dollars at this problem. It's not going to absorb the debt of our private sector companies and it won't be able to focus the entire government in one effort for 20, 30 or 50 years as China is able to do," Chefitz said.

At his daily press conference, Chinese Foreign Ministry spokesman Lu Kang said said China's foreign policy was based on "mutual respect and win-win cooperation."

"As for other parties, they shouldn't be presumptuous based on their own views -- nor should they assume economic cooperation between developing countries always have ulterior political motives," he said.

Sri Lanka's Minister of Ports & Shipping Mahinda Samarasinghe exchanges souvenirs during the Hambantota International Port Concession Agreement at a signing ceremony in Colombo in 2017. © LAKRUWAN WANNIARACHCHI/AFP/AFP/Getty Images Sri Lanka's Minister of Ports & Shipping Mahinda Samarasinghe exchanges souvenirs during the Hambantota International Port Concession Agreement at a signing ceremony in Colombo in 2017.

Motives unknown

Many of the loans are being given out as part of China's signature Belt and Road infrastructure program, which gives loans to developing nations to fund ports, railways and other initiatives across Asia, Europe and Africa.

Report co-author and Harvard scholar Gabrielle Chefitz said the loans under the Belt and Road plan, as well as China's other development grants, take a very different form to previous US programs such as the Marshall Plan.

"The Marshall plan was largely grants whereas China is giving this money and expecting something in return," she told CNN.

"And because of the relationship between the state and these companies, it's able to get returns which aren't wholly economic, which are strategic in nature ... like a veto in ASEAN, like a port, or a vote at the United Nations."

But Merriden Varrall, director at the Lowy Institute's East Asia Program director, told CNN there was still a lack of evidence as to how China was utilizing its loans around the region.

"Nobody knows what China's motives are, presumably they're not simply altruistic, Australia's interests in providing aid and investment are certainly not purely altruistic either," she said.

The U.S.-China Confrontation Takes On a New Dimension .
If China’s intentions in the South China Sea weren’t quite clear, this month should have removed doubt. Taken individually, China’s actions might indicate a geopolitical game of chicken wherein Beijing tests its neighbors over territory they too claim to see the limits of their tolerance. But taken together, it’s clear China is showcasing its military strength over all area it claims as its own—international opinion be damned. And why not? Previous actions have drawn little more than regional hand-wringing and disapproval from the U.S.

—   Share news in the SOC. Networks
This is interesting!