Category: Pl

Fears of overcapacity ignore China’s full balance of payments picture

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The notion that China is flooding the world with excess industrial capacity is usually based on its massive surplus in goods trade, now standing at nearly US$1.2 trillion. That number is real, but treating it as proof of systemic overcapacity is not entirely correct. Goods trade is only one slice of China’s external balance, and it is increasingly offset by large outflows such as import of services and investment income payments. Moreover, China’s total current account surplus is US$657 billion or 3.4 per cent of gross domestic product (GDP). Having…

Senate bills remind Trump that Taiwan remains a priority before key Xi meeting in April

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A key US congressional panel on Thursday advanced four Taiwan-related bills aimed at strengthening the island’s energy security, communications resilience and diplomatic influence as lawmakers ramp up efforts to counter Beijing ahead of President Donald Trump’s expected visit to China in April. The move by the US Senate Foreign Relations Committee reflects a broader trend in Congress, in which support for Taiwan often exceeds the administration’s position. Thursday’s coordinated action signals to the White House that the US-Taiwan partnership remains a priority. The bills advancing on Thursday include the Taiwan…

AstraZeneca to invest £11bn in China after rowing back on UK expansion

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Britain’s biggest drugmaker AstraZeneca is to invest $15bn (£11bn) in China, it announced during Keir Starmer’s visit to the country, just months after cooling on plans for expansion in the UK. The Cambridge-based company said it would spend the money by 2030 to expand medicines manufacturing and research and development in China, where it already has a big presence. It includes the construction of a $2.5bn research hub in Beijing, which was announced last March. During the first visit by a British prime minister to China in eight years, Starmer…

Keir Starmer opens door to UK visit by Xi Jinping after bilateral talks

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Keir Starmer has taken a big step towards rapprochement with China, opening the door to a UK visit from Xi Jinping in a move that drew immediate anger from British critics of Beijing. During the first visit by a UK prime minister to China in eight years – a period which Starmer has described as an “ice age” – he said talks with the Chinese president had left the bilateral relationship in a stronger position. While Starmer and his team were flaunting the results of the trip – including a…

What agreements have been made during Starmer’s trip to China?

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Keir Starmer will be pleased that he has secured several agreements to mark his visit to Beijing and by the warm tone of President Xi Jinping’s remarks about his government. However, No 10’s announcements do not put a figure on the value of the deals, and there does not appear to be a big bundle of investments worth billions by Chinese or British firms, which prime ministers have usually tended to hold up as a sign of success. These are the agreements secured by the UK so far. Visa-free travel…

Xi didn’t really see a point to Kier’s visit – but hey, let a hundred flowers bloom | John Crace

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Let’s face it, this was never going to be a meeting of equals. Keir Starmer had been desperate to squeeze in a trip to China for some time. Another country to tick off his list and he always feels a lot better about himself when he’s abroad. Less noise from his unhappy MPs. Plus he loved the pomp and ceremony that came with it. The large flags. The military bands. A country that treated him with respect. Almost. Besides, Mark Carney and Emmanuel Macron had both made recent trips. He…

Chinese state media views Starmer’s visit as act of economic pragmatism

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Keir Starmer’s visit to Beijing has been cautiously welcomed by Chinese state media as an act of economic pragmatism by a beleaguered British prime minister. The presence of 50 business and cultural leaders with Starmer, who is the first British prime minister to visit China in eight years, was taken as a sign that the UK was prioritising its ailing economy over political considerations. The reported refusal of Starmer to confirm that he would be seen to pressure President Xi Jinping over his relationship with his Russian counterpart, Vladimir Putin,…

What happened when Starmer met Xi Jinping? – podcast

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Keir Starmer held talks with the Chinese leader Xi Jinping this week and proclaimed Britain should have a more ‘sophisticated’ relationship with China. Pippa Crerar, who was with the prime minister on the trip, tells Kiran Stacey what all this means The Guardian

China’s leaders pay tribute to Liao Xilong, late general described as ‘Communist warrior’

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China’s leadership has paid tribute to Liao Xilong, praising the late general for his loyalty to the Communist Party and military service. Liao, 85, who was in charge of overhauling military logistics, died on January 23, state news agency Xinhua reported on Thursday, the day of his funeral. “[Liao was] a time-tested and loyal communist warrior, an outstanding military commander, and an exemplary leader in advancing the comprehensive modernisation of military logistics,” the report said. Advertisement Liao and Zhang were both combat veterans and rose to high military office but…

With China’s Xi, Britain’s Starmer hopes gift of Manchester United match ball scores points

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Chinese President Xi Jinping received a unique gift from British Prime Minister Keir Starmer in Beijing on Thursday: the official match ball from Sunday’s fixture between Manchester United and Arsenal, according to media reports. While Starmer is an ardent Arsenal fan, Xi is reportedly a supporter of Manchester United. Advertisement Manchester United secured a 3-2 victory in a tightly contested match. By offering the gift involving two of the English Premier League’s most celebrated teams, Starmer’s gesture appeared meant to warm up Sino-British ties that have been fraught with complexity.…