The Rajapaksa family, which has dominated Sri Lankan politics for nearly two decades, was considered friendly to Beijing. When Mahinda Rajapaksa – Gotabaya’s older brother – was in power from 2005 to 2015, Colombo agreed to a number of Chinese infrastructure projects including a port in Hambantota that was leased to a Chinese state firm under a 99-year deal as part of a controversial debt-for-equity swap. “In the short run, there will be a big impact on China’s relations with Sri Lanka because the influence of the Rajapaksa family in…
Day: July 11, 2022
Don’t Sleep on China’s Global Development Initiative
Advertisement It’s been a hectic few weeks in international relations and development policy circles, with significant implications for Asian and Pacific countries. First was the BRICS Business Forum on June 23, attended by the top leaders of Brazil, Russia, India, China, and South Africa. Then came the High-Level Dialogue on Global Development on June 24, attended by leaders from Brazil, Russia, India, China, South Africa, and a selection of non-BRICS countries: Cambodia, Argentina, Algeria, Egypt, Ethiopia, Fiji, Indonesia, Iran, Kazakhstan, Malaysia, Senegal, Thailand, and Uzbekistan. Two days later, leaders from…
Protest in China over frozen bank accounts ends in violence
A rare large-scale protest in China’s central Henan province has been violently broken up by unidentified security personnel, amid outcry over a financial scandal that has exposed the fragility of the country’s banking system. A crowd of more than 1,000 protesters, according to some estimates, had gathered on Sunday in front of the Zhengzhou sub-branch of the People’s Bank of China to attempt to recover frozen savings held in rural banks. Footage reviewed by the Guardian showed protesters demanding local authorities help them retrieve their savings. Some held banners that…
Why a Xi Jinping Third Term Looks Secure
Advertisement The first half of 2022 was challenging for the Chinese Communist Party (CCP) and its general secretary, Xi Jinping. He is facing a “year of instability,” said Kevin Rudd, and “may not get his coveted third term because of the mistakes he has made,” according to George Soros. Those assessments notwithstanding, Xi appears well positioned to tighten his grip on power at the CCP’s 20th National Congress, now just months away. Congress years in China typically see a flurry of political activity, as senior officials compete to join the…
Macau shuts all casinos in bid to contain worsening Covid outbreak
Macau has shut all its casinos for the first time in more than two years as authorities struggle to contain the worst coronavirus outbreak yet in the world’s biggest gambling hub. The city’s 30-plus casinos, along with other non-essential businesses, will shut for one week from Monday and people have been ordered to stay at home. Police would monitor flows of people outside, the government said, and stringent punishments would be imposed for those who disobeyed. Hospitals, pharmacies, supermarkets and fresh food markets are some of the essential services that…