Day: May 8, 2023

China debt restructuring is at impasse, World Bank chief says

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China is at an impasse in terms of restructuring debts owed to it by developing nations in distress even after the World Bank made additional efforts to provide ultra-low interest loans and grants to those countries, the anti-poverty lender’s chief said Monday. “From China’s side, they are working to try to pull all their creditors together into a coordinated position, but it’s still a stalemate as far as progress being made,” David Malpass, who is set to step down at the end of this month, said in an interview on…

Canada Expels Chinese Diplomat Accused of Targeting Lawmaker 

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ottawa, ontario —  Canada on Monday expelled Toronto-based Chinese diplomat Zhao Wei after an intelligence report accused him of trying to target a Canadian lawmaker critical of China’s treatment of its Uyghur Muslim minority. “We will not tolerate any form of foreign interference,” Canadian Foreign Minister Melanie Joly said on Monday. The expulsion escalates already tense Sino-Canadian relations and is likely to prompt China, Canada’s second-largest trading partner, to respond. China’s embassy in Ottawa said it condemns the expulsion and that it has formally protested the move to the government.…

Capvision, a Consulting Firm, is Raided by Chinese Authorities

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China has targeted another global business consulting firm on national security grounds, launching an investigation of the Shanghai-based Capvision Partners as part of a broader crackdown on the industry, state media reported on Monday night. Officers raided several of the firm’s offices in China, including in Shanghai, Beijing, Suzhou and Shenzhen, state media said, explaining that the company was not “earnestly fulfilling the responsibilities and obligations” of preventing espionage. Capvision did not immediately respond to a request for comment. On Monday night, the company said on its official account on…

Warming South Korea-Japan ties sends chill through China over potential US pivot, analysts say

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But in a sign of a thaw in their relations, long strained over history and territorial issues, Japanese Prime Minister Fumio Kishida wrapped up a two-day visit to Seoul on Monday, returning a trip South Korean President Yoon Suk-yeol made to Tokyo in March. Although China was barely mentioned on the trips, pundits said Beijing was increasingly wary of its two neighbours’ warming ties and their strategic pivot towards Washington. Advertisement Liu Jiangyong, an expert on regional affairs at Beijing’s Tsinghua University, said it remained to be seen how long…

Canada Expelling Chinese Diplomat Amid Influence Concerns

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Canada said on Monday it was expelling a Chinese diplomat amid reports he had been intimidating and gathering information on a Canadian lawmaker who had been critical of Beijing’s treatment of its Uyghur Muslim minority, a decision likely to increase tensions between Beijing and Ottawa. Mélanie Joly, Canada’s foreign minister, said in a statement that the diplomat, Zhao Wei, had been declared “persona non grata.” Ms. Joly said the decision has been taken “after careful consideration of all factors at play.” “Diplomats in Canada have been warned that if they…

After High-Level Meeting, China Urges US to ‘Correct’ Itself

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After meeting in Beijing with U.S. Ambassador Nicholas Burns, Chinese Foreign Minister Qin Gang criticized the U.S. for what he described as an ongoing effort to “suppress” his country, saying that improved communications between the two superpowers will depend on the U.S. changing its policies. In a readout of the Monday meeting, Qin said that U.S.-China relations have worsened since a meeting between U.S. President Joe Biden and Chinese leader Xi Jinping in November, saying “a series of erroneous words and deeds by the U.S. since then have undermined the…

Can Volkswagen win back China?

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In 1978, a Chinese delegation dressed in Mao suits travelled to Wolfsburg with a stunning message for the men running Volkswagen: Deng Xiaoping’s China was open for business. Now, after four decades building the world’s biggest car market from scratch and profiting from the rise of an economic superpower, the automaker has suddenly found itself fighting for its position in China. While the sprawling German group, which today includes Porsche and Audi, sells more cars in China than any other company, its flagship VW brand was recently dethroned as the…

Chinese Students in DC Establish Safe Space for Dissent to Counter Beijing

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washington —  A group of Chinese international students studying in Washington has established an independent student union, hoping to provide a safe space and platform for other Chinese students and scholars at their university to express political dissent without harassment by pro-Beijing students and organizations. Students from George Washington University (GWU) call the organization Torch on the Potomac. A statement by the organization on April 25 said, “We want to provide Chinese students and scholars at George Washington University, as well as their peers in the diaspora, with a platform,…

Chinese investment in Europe falls as watchdogs increase scrutiny

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Chinese investment into Europe fell to its lowest point in almost a decade last year as European countries tightened rules to stymie a slew of Chinese acquisitions. The 22 per cent decline in investment in 2022, charted in a study by Rhodium Group, a research company, and Merics, a Berlin-based think-tank, reflects Europe’s recent moves to police the sale of assets to China after years of enthusiastically courting investment from Beijing. The researchers found that at least 10 out of 16 investment deals pursued in 2022 by Chinese entities could…

As of deadline, 18 parties apply to compete in Cambodia’s July election

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UPDATED at 10:38 p.m. EDT on 05-08-2023 Cambodia’s National Election Committee said Monday that 18 parties have officially declared their intent to participate in the country’s July 23 general elections, when more than 9.7 million voters will decide who will represent them in the national assembly. Monday was the deadline for applications, and the committee said that 11 of the 18 applications have been approved, while some of the other applications are still under review. Hun Sen’s ruling Cambodian People’s Party is expected to dominate in the election. It controls all…