Tag Archives: china

While the PHL is moving away from the U.S.A., Vietnam inches closer.

Trump may turn to Vietnam for help on South China Sea

Hanoi could emerge as a key player in Washington’s long-term Southeast Asia push that’s aimed at neutralizing Beijing’s influence in the South China Sea.

On Wednesday, Vietnamese Prime Minister Nguyen Xuan Phuc will be the first ASEAN leader to visit the White House since President Donald Trump‘s election and the U.S. may look to tap into the emerging market’s friction with China.

Vietnam sits in a very interesting position in Southeast Asia,” said Rodger Baker, vice president of strategic analysis at geopolitical intelligence firm Stratfor. Because Hanoi maintains a strong position against Beijing’s activities in the South China Sea, Trump may eye Vietnam as a potential counter to China in the disputed area, Baker explained.

 

The world’s second-largest economy claims 90 percent of the sea, home to over 250 islands and rich natural gas reserves, while Vietnam, Brunei, Malaysia, the Philippines and Taiwan assert ownership of certain parts. And as Beijing ramps up island-building and military construction in the maritime region — reports recently emerged of Chinese rocket launchers in the Spratly Islands — Hanoi has not shied away from publicly denouncing the mainland.

READ FROM FULL SOURCE ARTICLE: http://www.cnbc.com/2017/05/31/trump-may-turn-to-vietnam-for-help-on-south-china-sea.html

China now has a $300 billion company

China’s Tencent has joined the exclusive $300 billion club.
Tencent shares closed at a record high of 248.40 Hong Kong dollars (just under $32) on Tuesday, valuing the company at more than $302 billion. (Hong Kong markets are closed Wednesday for a holiday.)

Tencent (TCEHY) joins Apple (AAPL, Tech30) and Google-parent Alphabet (GOOGL, Tech30) in the ranks of the world’s biggest firms by market capitalization.

It’s the only firm outside the U.S. among the world’s top 10 most valuable companies, and is now nipping at the heels of JPMorgan (JPM), which is currently worth $309 billion.

Tencent isn’t the first Chinese company to achieve the eye-popping number. Alibaba’s (BABA, Tech30) value briefly went above $300 billion in November 2014, soon after its New York IPO, according to Chinese financial news publication Caixin. Alibaba is currently worth about $295 billion.

READ FROM FULL SOURCE ARTICLE: http://money.cnn.com/2017/05/03/investing/china-tencent-300-billion-company/index.html?iid=ob_article_hotListpool

South Korean military: North Korea launches ballistic missile

(CNN)North Korea launched a ballistic missile from the northwestern part of the country early Sunday, the South Korean Joints Chief of Staff said.

“Our military is closely monitoring for provocative movements by North Korea and is maintaining all readiness postures,” a statement from the military said.

The missile, launched near the city of Kusong, flew 700 kilometers (435 miles), the South Korean military said. A US defense official confirmed that it flew that far, but said the US is still assessing what type of missile it was.
This is the first provocative move from North Korea since South Korean President Moon Jae-in took office. Moon has advocated dialogue with North Korea to denuclearize.

The firing of the missile could also be seen as an insult to Beijing. China remains one of North Korea’s only allies and is responsible for much of the heavily-sanctioned nation’s economy.
On Saturday, Chinese leader Xi Jinping launched a major trade and infrastructure project with multiple world leaders in Beijing. A North Korean delegation attended the conference.

READ FROM FULL SOURCE ARTICLE: http://edition.cnn.com/2017/05/13/asia/north-korea-projectile/index.html

China to allow US beef exports after deal on trade issues with US

WASHINGTON (CNN) – A new trade deal will allow US beef and natural gas exports to flow into China while opening up the US market for cooked poultry and Chinese banks, the US Commerce Secretary announced Thursday.

The initial slate of commitments from the two countries marked the first sign of progress on the 100-day action plan that President Donald Trump and Chinese President Xi Jinping called for during their meeting at Trump’s Florida estate last month. Trump made renegotiating trade terms between the United States and China a key plank of his presidential campaign, and said last month he hoped to make progress with China in the short term.

Under the agreement, China will allow US beef exports to flow directly to the country for the first time since 2003, while the United States will take steps to authorize Chinese imports of cooked poultry into the United States by July 16. The United States and China also agreed to open up US exports of liquefied natural gas to China, which could be a boon for both countries.

US Commerce Secretary Wilbur Ross said the initial agreement, which would also open up the Chinese market to US electronic payment services companies and help Chinese banks gain broader access to the US financial market, would help “bring down” the US trade deficit with China, though he did not provide a precise estimate.

Trump railed against that deficit during his campaign and vowed to reduce it as President. While he floated drastic measures like imposing a tariff on Chinese imports, Trump has instead favored bilateral negotiations thus far.

The President hailed the agreement Friday, tweeting, “China just agreed that the U.S. will be allowed to sell beef, and other major products, into China once again. This is REAL news!”

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North Korea says China stomping on ‘red line’ in relations

(CNN)North Korean state media warned Thursday Beijing was crossing a “red line” in its relationship with Pyongyang, in a rare criticism of its closest ally.

A commentary in the state-run newspaper Rodong Sinmun vowed North Korea would not give up its nuclear program. It accused China of “dancing to the tune of the US” and providing Washington excuses to deploy more military assets to the Korean Peninsula.

The commentary urged two Chinese state-run newspapers, the People’s Daily and Global Times, to refrain from making reckless remarks which risked undermining relations between the two countries.

It comes after increased criticism of North Korea in Chinese state media amid heightened tensions in the region.

READ FROM CNN: http://edition.cnn.com/2017/05/04/asia/north-korea-china-relations-red-line/index.html

PH plans to repair Pag-asa Island ‘illegal’, says Chinese envoy

“Well our official line is quite clear. We view the occupation by the Filipino, Philippine side, of those islands [as] illegal. And so the buildings on it are also illegal.”

The ambassador was ushered away from the press after reporters asked him what China was prepared to do once the Philippines does start its construction which Lorenzana had said would begin before the rainy season in July.

While walking away, Zhao said, “I think the policy is we’ll adhere to the peaceful negotiation, to find a peaceful solution. But our position, I have said, we view that as illegal.”

They were supposed to dock in Manila, as most visiting fleets on a goodwill visit often do. But the Chinese People’s Liberation Army Navy decided to move their port call to Davao City, hometown of the Philippine President who has taken a great liking to them.

On Sunday, in an impressive display of both troop discipline and military capability, three Chinese warships — the guided missile destroyer Chang Chun (DDG 150), the guided missile frigate Jin Zhou (FFG 532), and replenishment ship Chao Hu (890) — docked in Davao City’s Sasa Wharf, with the men of the Chinese Navy manning the rail fully armed and impervious to the blinding heat of the sun.

“We especially choose the Philippines as the first port call for the oceanic voyage of the Task Group 150, and made a short-notice change of the destination from Manila to Davao to meet the schedule of His Excellency President Duterte,” said Admiral Miao Hua, Political Commissar of the China People’s Liberation Army Navy (PLA Navy).

Task Group 150’s visit to the Philippines is the first time China has returned for a port call since the maritime row began. The last goodwill visit by the Chinese Navy was in 2010, two years before the navy standoff in Scarborough Shoal that marked the start of hostile relations between the Philippines and China over the West Philippine Sea.

The Philippine Navy says PLA Navy’s Task Group 150 is based in Shanghai, China, and may not be the actual vessels patrolling the West Philippine Sea. However, it is these Chinese warships that – with complements from the China Coast Guard create the blockades against the Philippine Navy, chase down Filipino fishermen from traditional fishing ground, and are present in the 7 man-made military islands that China has built in the South China Sea.

North Korea’s missile test fails, US military says

CNN)North Korea on Saturday launched a ballistic missile that blew up over land, a spokesman for the US Pacific Command said.

The missile didn’t leave North Korean territory, US Navy Cmdr. Dave Benham said.
A US military assessment found the main part of the missile landed approximately 35 kilometers (22 miles) from Pukchang airfield, a US official told CNN.

“North Korea disrespected the wishes of China & its highly respected President when it launched, though unsuccessfully, a missile today. Bad!,” US President Donald Trump tweeted.

READ FROM FULL SOURCE ARTICLE: http://edition.cnn.com/2017/04/28/world/north-korea-missile-launch/index.html

Duterte frustrates ASEAN peers on sea code: diplomat

MANILA – Regional delegates expecting Philippine leadership in discussions on the South China Sea dispute were frustrated when President Rodrigo Duterte insisted China’s arbitration defeat would not be on the agenda, a senior diplomat said Friday.

Some of them were preparing to bring up the Hague-based ruling as reference for discussions on a code of conduct in the disputed waters, said the envoy who is familiar with the talks.

 

But they were “precluded” by Duterte’s statement Thursday that the ruling was “not an issue” in the meetings of the Association of Southeast Asian Nations (ASEAN), the official said.

“Your president has defined the outcome of ASEAN 50 already,” the diplomat quoted one delegate as saying during a consulation meeting. “Some are frustrated over the turn of events.”

Duterte said ASEAN could tackle the code of conduct, but not the ruling which was “between China and the Philippines.”

Chairing this year’s ASEAN meetings is seen as an opportunity for the Philippines to rally the regional bloc behind a common stand on the maritime dispute.

But under Duterte, the Philippines has sought warmer ties with China in exchange for billions of dollars in aid and investment.

“It now appears that we’re being lumped together with Cambodia and Laos in protecting Chinese interests (in ASEAN) at all costs,” the diplomat said.

READ FROM FULL SOURCE ARTICLE: http://news.abs-cbn.com/news/04/28/17/duterte-frustrates-asean-peers-on-sea-code-diplomat