China Reveals Largest Defense Budget In Three Years

 

China’s government has been relatively vocal in transforming itself into a serious threat against the West — by modernizing its military in anticipation of future wars with Washington. It it therefore not surprising when the official Xinhua news agency reports that China will increase its defense budget by 8.1 percent in 2018, up marginally from last year’s 7 percent.

China has undoubtedly given America’s military-industrial complex and clueless politicians in Washington a stern message, by increasing its defense budget to the highest levels in more than three years, even as the country insists it does not mean harm. Continue reading

OUTGUNNED: China hell bent on becoming the world’s most powerful country as it boosts military spending to a whopping £127billion

The Chinese are coming… rich from Western firms outsourcing factories to their nation, the government is ploughing the money it makes into its military (Image: AP.Associated Press)

 

The massive Chinese military build-up has certainly rattled the nerves of its neighbours as it develops new stealth fighters, aircraft carriers and missiles

CHINA has today unveiled its largest rise in defence spending in three years as it bids to dominate the world with a vast superpower military. 

The 2018 defence budget will be 1.11trillion yuan (£127billion), according to a bombshell report issued at the opening of China’s annual meeting of parliament. Continue reading

Russia, China Mull Payment System to Bypass U.S. Sanctions

After signing an agreement with Chinese Premier Li Keqiang on Wednesday, Russian Prime Minister Dmitry Medvedev suggested the two countries consider linking their payment systems in a move that would allow both countries to skirt much of the economic pressure created by U.S. sanctions.

 

In the face of withering sanctions imposed by the U.S., Russia has reached out to China to consider a payment system that allows them to bypass the American banking system, thereby avoiding sanction restrictions. Continue reading

The Tesla Shock

BERLIN (Own report) – Decisive sectors of the German elite are holding onto diesel technology, causing the automobile industry to fall significantly behind its foreign competitors, according to US and British observers, who see the German automobile industry soon confronting a “Tesla shock.” Whereas, the demand for US electric automobiles is rapidly growing, in the long run, the demand for German diesel models is significantly sinking. In fact, the German government has been shielding German companies from innovation pressure, by imposing their interests, even abroad. Berlin has not only applied the brakes to the introduction of the EU’s CO2 emission limits, but also to China’s setting electric automobile quotas, to reduce pollutant emissions. In the current diesel scandal, Berlin continues to maintain its policy course.

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Philippines’ Duterte: China threatened ‘war’ over sea row

Philippine President Rodrigo Duterte said Friday China’s leaders told him they were prepared to go to war over competing claims in the South China Sea.

Duterte, who met with Chinese President Xi Jinping and Premier Li Keqiang in Beijing this week, said he was making the threat public in response to domestic criticism he was being too weak with China over the dispute. Continue reading

China is about to hold a giant meeting on spending billions to reshape the world

 

China has rapidly climbed the ranks to become the world’s second-largest economy. Now, the most populous nation on the planet wants to increase its influence by digging further into its pockets — flush with cash after decades of rapid growth — to splash out with its “One Belt, One Road” policy.

The initiative is meant to connect Asia, Europe, the Middle East and Africa to bolster trade and development. This weekend, hordes of foreign diplomats and business leaders are expected to descend on Beijing for a two-day meeting about the policy.

Here’s what you need to know:

What is “One Belt, One Road?” Continue reading

China, Malaysia pledge to narrow differences on South China Sea

The Philippines were yesterday, Malaysia is today. Which nation will next help shift the global order in China’s favor under an often-mentioned Asian bloc? This is only one step for Malaysia, but will prove to be another huge setback for America in Asia in the near future. Military cooperation between the two Asian nations is now in the pipeline.

 

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Malaysian Prime Minister Najib Razak and Premier Li Keqiang attend a signing ceremony at the Great Hall of the People in Beijing on Tuesday. Photo: AFP

 

Kuala Lumpur also agrees to buy four Chinese naval vessels as part of Najib Razak’s visit to Beijing

China and Malaysia vowed to deepen cooperation on the ­disputed South China Sea on Tuesday as Malaysian Prime Minister Najib Razak met Premier Li ­Keqiang in Beijing.

Li called on Malaysia and China to further consolidate their relationship, especially when it came to the Association of Southeast Asian Nations, as part of China’s efforts to win over member nations of the bloc.

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China’s Secret Plan to Control the Internet | China Uncensored

Hi, welcome to China Uncensored, I’m your host Chris Chappell.

The Internet! Some of you watching may not have even been alive at a time when the Internet wasn’t everywhere. But I remember such a time. When computers were mysterious novelties, completely misunderstood by popular media.

Electric Dreams was popular, right? Anyway, the world has now changed in weird, wild ways. Because Internet. Continue reading

Duterte to visit China in coming weeks, in sign alliances may be shifting in East Asia

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Philippine President Rodrigo Duterte will visit China from October 19-21. Photo: AP

 

If Beijing and Manila can work together over such issues as fishing rights in the disputed Scarborough Shoal, the Philippines’ reliance on the US could erode further, analysts say

Philippines President Rodrigo Duterte travels to China this month on a visit that could redraw alliances in East Asia after his incendiary comments about the United States and active courting of Washington’s chief rivals.

The friendly relationship between the Philippines and the United States has been one of the pillars of Washington’s strategic military rebalance to Asia under US President Barack Obama. But the alliance has been under strain since Duterte came to power three months ago and chafed at US criticism of his bloody war on drugs, which has led to the killing of more than 3,100 alleged drug users and dealers by police and vigilantes.

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China, Cuba agree to deepen ties during PM Li’s Havana visit

HAVANA (Reuters) – Chinese Prime Minister Li Keqiang met with Cuban President Raul Castro on Saturday during a two-day trip to Havana, and the two leaders oversaw the signing of around 30 agreements on economic cooperation in various sectors, Cuban state media reported.

Li is the first Chinese premier to visit Cuba since the two countries established diplomatic relations 56 years ago, although President Xi Jinping visited in 2014. Continue reading

China designates US’ first renminbi clearing bank: Premier Li Keqiang

Bank of China’s New York branch authorised for the role

China has designated the United States’ first renminbi clearing bank, Premier Li Keqiang said on Tuesday as he welcomed American banks to apply to become clearing banks.

China’s central bank said it had authorised the Bank of China’s New York branch to be a renminbi clearing bank in the United States.

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China Could Control the Global Internet After Oct. 1

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ICANN Chairman Steve Crocker speaks during the opening of the ICANN meeting in Singapore on Feb. 9, 2015. The U.S. plan to relinquish control of ICANN opens the door for China to have greater influence over the global internet. (Roslan Rahman/AFP/Getty Images)

 

The handover of ICANN, the body that governs domain name registration, fits into a strategy by the Chinese regime to determine how the Internet is run

In November 2014, Li Yuxiao, a research fellow at the Chinese Academy of Cyberspace, stated, according to the state-run China Daily, “Now is the time for China to realize its responsibilities. If the United States is willing to give up its running of the internet sphere, the question comes as to who will take the baton and how it would be run?”

“We have to first set our goal in cyberspace, and then think about the strategy to take, before moving on to refining our laws,” he said.

Li’s comments were in response to news, also in 2014, that the United States would relinquish its remaining federal government control of the internet by ending its contract between the Commerce Department and the Internet Corporation for Assigned Names and Numbers (ICANN), which is scheduled for Oct. 1. Continue reading

China sought urgent advice from Fed to deal with 2015 market plunge

Confronted with a plunge in its stock markets last year, China’s central bank swiftly reached out to the U.S. Federal Reserve, asking it to share its playbook for dealing with Wall Street’s “Black Monday” crash of 1987.

The request came in a July 27 email from a People’s Bank of China official with a subject line: “Your urgent assistance is greatly appreciated!” Continue reading

China, U.S. Reach Agreement on High-Speed Rail Before Xi Visit

A China Railway Group-led consortium and XpressWest Enterprises LLC will form a joint venture to build a high-speed railway linking Las Vegas and Los Angeles, the first Chinese-made bullet-train project in the U.S.

Construction of the 370-kilometer (230-mile) Southwest Rail Network will begin as soon as next September, according to a statement from Shu Guozeng, an official with the Communist Party’s leading group on financial and economic affairs. The project comes after four years of negotiations and will be supported by $100 million in initial capital. The statement didn’t specify the project’s expected cost or completion date.

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China on par with US in economic influence, says expert

As China is gearing up to grab global financial hegemony from the United States, the world has witnessed its breakthrough in a recent development.

The unexpected 3% depreciation of the renminbi on May 3 shocked the whole world, resulting in turmoil in global financial markets, a sign that China’s economic clout has surpassed that of the US, Japan and European countries and that the renminbi is more influential than the US dollar, euro, Japanese yen and British pound. Continue reading