The U.S. and China compete in Northeast Asia, strengthening alliances and pursuing economic ties with Japan and South Korea, despite past stagnation. A new cooperative era began with the August 2023 summit.

The Geostrategic Landscape of Northeast Asia

Northeast Asia resembles a weiqi board where the United States and China strategically counter each other’s moves to limit their opponent’s influence. The U.S. is enhancing trilateral security partnerships with Japan and South Korea, expanding these alliances beyond military aspects to include economic cooperation. Meanwhile, China seeks to utilize its economic clout to engage both countries, aiming to diminish security threats posed by the U.S.-led initiatives.

The foundations for trilateral cooperation were laid in April 1999 when the U.S. formed the Trilateral Coordination and Oversight Group with South Korea and Japan to tackle North Korea’s nuclear ambitions. This was followed by a meeting in November 1999 among China, South Korea, and Japan during the ASEAN+3 Summit, marking the start of their own cooperative endeavors. However, both mechanisms faced stagnation due to historical tensions and trust issues.

Under President Joe Biden, a proponent of multilateralism, the U.S.-Japan-South Korea trilateral partnership has been revitalized, becoming integral to the U.S. Indo-Pacific Strategy. The first Camp David Summit in August 2023 heralded a “new era” of cooperation in the region, attempting to navigate the evolving geopolitical environment and enhance security collaboration amid ongoing tensions with China.

Source : The US and China draw strategic triangles in Northeast Asia

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The article discusses the influence of the U.S. and China in Africa, exploring their strategies, investments, and impacts, ultimately raising questions about motivations and the true benefits to African countries.

US vs. China: Influence in Africa

The rivalry between the US and China is reshaping geopolitics in Africa. Both nations are vying for influence, promoting their economic models and strategic partnerships to gain favor with African countries. While the US emphasizes democratic governance and human rights, China focuses on infrastructure investment and development assistance, appealing to many African governments seeking immediate economic relief.

Africa’s diverse and resource-rich nations find themselves at a crossroads, often leveraging competing offers from both powers. This dynamic creates opportunities for economic growth but also poses risks of dependency. African leaders must navigate this complex landscape, balancing foreign interests while prioritizing their countries’ long-term goals.

Ultimately, the question remains: who is fooling Africa? As both the US and China expand their footprints on the continent, it’s essential for African nations to critically assess these relationships, ensuring they benefit from foreign investments without sacrificing sovereignty.

Source : US vs China: Who’s fooling Africa – The East African

On November 24, the State Taxation Administration announced the nationwide rollout of fully digital electronic invoices (e-fapiao) effective December 1, 2024. This follows a successful pilot program. Digital invoices, legally valid, feature unique 20-digit numbers and streamline tax processes.

On November 24, the State Taxation Administration (STA) announced the official nationwide rollout of fully digitalized electronic invoices (e-fapiao) through its website. This decision follows the successful pilot program, which has been implemented smoothly across various regions. The pilot program has delivered notable achievements, including optimizing the business environment, improving administrative efficiency, and facilitating the digital transformation of the economy and society.

The nationwide rollout will take effect on December 1, 2024. According to the STA, digital invoices are classified as a type of “electronic invoice” under the Regulations on the Administration of Invoices of the People’s Republic of China and hold the same legal validity as traditional paper invoices. Unlike paper invoices, digital invoices exist solely in digital format and are issued as single-copy documents. Each digital invoice features a unique 20-digit number, structured to include the last two digits of the calendar year, a regional code for the provincial tax authority, a digit indicating the issuance channel, and a sequential code.

After receiving the electronic invoice, if the recipient needs to use it for declaring and deducting input VAT, fuel consumption tax, applying for export tax rebates, handling tax refunds on behalf of others, or selecting fuel inventory, they should confirm the purpose through the digital tax account.

Key points of the STA announcement are summarized in the table below:

Read more about fully digitalized e-fapiao, its impact, and how to prepare for it.

On November 6, 2024, the State Taxation Administration announced the promotion of fully digitalized electronic invoices (e-fapiao) for civil aviation passenger transport. The announcement, made in collaboration with the Ministry of Finance (MOF) and the Civil Aviation Administration of China, will take effect on December 1, 2024. This announcement specifies that public air transport companies and registered air transport sales agencies in China are permitted to issue electronic invoices for domestic passenger transport services.

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