China was “late to the game” when it amped up overseas investments nearly two decades ago, but now its stock of outward direct investment has already surpassed that of Japan, Germany and the UK, becoming the world’s third-largest after the US and Netherlands, the report said. Rail routes between China, Europe go off track as freight operators skip Russia However, its total outward FDI stock – the value of Chinese investors’ equity in, and net loans to, firms abroad – is still small relative to the size of China’s economy…
Month: November 2023
China indicts 52 per cent more cyber scammers than last year as country cracks down on fraud rings
A total of 17,000 people were indicted for taking part in overseas cyber syndicates in the first 10 months, up 5.3 per cent compared to the corresponding period last year. Their victims were mostly in mainland China. Myanmar cybercrime kingpin dead, family handed over to China China also stepped up its crackdown on human smugglers who help suspects or victims of human trafficking cross the border into neighbouring countries. The country indicted nearly 2,000 people for coordinating human smuggling and another 5,000 for taking people across the border illegally, an…
Chin allied resistance claims big junta losses in western Myanmar
Allied resistance armies seized two towns in northwestern Myanmar, one of the groups said this week. The joint forces captured Matupi township’s Lalengpi and Resaw towns in battles that ended on Wednesday. Resistance fighters attacked and captured a junta outpost with about 50 soldiers in Resaw after four days of fighting, a Chin Defense Forces official told Radio Free Asia. “Our joint team, led by Chin Defense Forces, seized it on the morning of November 29,” he said. “We currently control the town. We had some casualties too.” Eleven junta…
Alibaba pushes new AI software tool to help merchants on its wholesale platform manage overseas clients, polish business emails
Alibaba.com, the international business-to-business wholesale marketplace of Alibaba Group Holding, expects the roll-out of a new artificial intelligence (AI) tool to help the platform’s merchants automate their client-facing operations, including writing emails, to entice more customers overseas. An AI-upgraded version of OKKI, the customer relationship management software-as-a-service (SaaS) offering under Alibaba Cloud, will be available to foreign trade merchants from Friday, according to Alibaba.com. It said the response rate of these merchants’ overseas clients improved by 32 per cent when their business correspondence was polished by OKKI. Alibaba Cloud, the…
China confirms it is working with US to restore military communication channels based on Xi-Biden agreement
Beijing and Washington are in talks to restore military communication channels following an agreement reached by the leaders of the two countries earlier this month, the Chinese defence ministry said on Thursday. Senior Colonel Wu Qian, the ministry spokesman, said during a press briefing on Thursday that the defence authorities of the two countries were communicating and coordinating to resume military-to-military communication “on the basis of equality and respect”. It was the first time the Chinese defence ministry has confirmed it is working with the US to restore military communication…
Indonesia Approves 20% Increase in Defense Spending Through 2024
JAKARTA, Indonesia — Indonesia’s outgoing president has approved a 20% increase in defense spending through the end of next year, to upgrade the country’s military hardware in response to geopolitical developments, its finance minister said. In a news conference on Wednesday, Sri Mulyani Indrawati said the approval came in a meeting she attended with President Joko Widodo and Defense Minister Prabowo Subianto. Prabowo is the leading candidate in the upcoming presidential election in February and is running with Widodo’s son. The defense budget will be increased from $20.75 billion to…
Kissinger Kept Busy as a Diplomat Long After Leaving State Department
When Henry Kissinger turned 100 this year, Secretary of State Antony J. Blinken toasted him at one birthday celebration in New York, and the C.I.A. director, William J. Burns, did so at another in Washington. There was a reason: Kissinger managed to retain his role as adviser to Washington’s key policymakers a half century after he left office, oftentimes because what he did then was so relevant to the crises of today. Mr. Kissinger spoke with Mr. Blinken regularly, including as recently as last month, Mr. Blinken said. He had…
China says Canada is distorting facts over jailing of ‘Two Michaels’
The case prompted accusations in Canada and other Western countries that China was engaging in “hostage diplomacy”. “Chinese judicial authorities handled the case in strict accordance with the law. The false accusation against China of ‘arbitrary detention’ was a complete distortion of facts and blame-shifting,” Chinese foreign ministry spokesperson Wang Wenbin said at a regular press conference on Wednesday. “Stories made up by the Canadian side have been debunked by facts over time. This is the result of Canada’s own doing.” Wang also said: “We urge the Canadian side to…
Australia Raises National Security Concerns in Annual Climate Summit
SYDNEY — Australia’s Climate Change and Energy Minister Chris Bowen has warned that global warming could lead to increased national security risks. Bowen presented his annual climate change statement to Australia’s Federal Parliament on Thursday. Bowen told lawmakers Thursday the climate emergency had national security implications for Australia, which has had to accelerate its transition to green sources of energy to curb its emissions. “This year’s national Climate Change Statement also includes a frank and thorough assessment of the national security imperative in this transformation,” he said. “As the statement…
China, Turkmenistan vow to strengthen cooperation on energy and security
“Both sides should utilise their complementary strengths, explore the potential for cooperation, and continue to deepen and expand cooperation in key areas,” said Ding, a member of the ruling Communist Party’s powerful Politburo Standing Committee. He said the two sides should focus on increasing economic, trade and investment cooperation, and continue to deepen cooperation on natural gas. The vice-premier’s trip to Central Asia – a region where Russia has traditionally held sway – is part of China’s efforts to step up ties with its neighbours in the region. Beijing sees…