Connect with us
//pagead2.googlesyndication.com/pagead/js/adsbygoogle.js (adsbygoogle = window.adsbygoogle || []).push({});

Politics

Cui tackles false views of economy

Published

on

Chinese ambassador to the United States Cui Tiankai addresses the 2016 New Year Celebration Gala Dinner of the China General Chamber of Commerce - USA in New York, Jan 19, 2016. [Photo/Xinhua]

Chinese ambassador to the United States Cui Tiankai addresses the 2016 New Year Celebration Gala Dinner of the China General Chamber of Commerce – USA in New York, Jan 19, 2016. [Photo/Xinhua]

Clearly upset with the doom-and-gloom views in the West about his country’s economy, Cui Tiankai, the Chinese ambassador to the US, wrote an op-ed arguing that the world’s second-largest economy is growing stronger while it is committed to reforms.

Noting a turbulent global economy, Cui said China, sadly and for no logical reasons, is often used as a scapegoat for current global market fluctuation.

“It is imperative that people are clear about the reality behind the worldwide economic volatility,” Cui said in the article titled A Prosperous China Benefits the World, posted on The Wall Street Journal website Tuesday evening.

Cui said China’s economic growth remains strong, and its contribution to the world economy is still impressive. He cited World Bank data that between 2009 and 2014, China’s GDP grew at an average annual rate of 8.7 percent, compared with the 2 percent world average. During the period, China contributed 30 percent of global economic growth.

Even in 2015, China’s economic growth rate of 6.9 percent was among the world’s fastest, and China contributed 25 percent to global growth.

Cui attributed the growth largely to the middle class, the driving force of consumption in China. According to Credit Suisse’s most recent Global Wealth Report, China’s middle class, (individuals with wealth between $50,000 and $500,000) now ranks the largest in the world with 109 million members, surpassing the US with 92 million members.

Given the stock market fluctuations in China, Cui admitted that there is room for improvement in market management.

“But China’s real economy in the long term has not been harmed since the stock market turmoil began last August,” he said.

Many economists have argued that China’s stock market, whose value…

Read the complete story here

Continue Reading

Politics

US Navy Carrier Conducts Exercises in South China Sea

Published

on

US Navy Carrier Conducts Exercises in South China Sea

TEHRAN (Tasnim) – A US Navy aircraft carrier conducted exercises in the contested South China Sea on Friday, the US navy said in a statement. –

A strike group led by the USS Ronald Reagan conducted flight operations and high-end maritime stability operations and exercises, the statement said, Reuters reported.”Integration with our joint partners is essential to ensuring joint force responsiveness and lethality, and maintaining a free and open Indo-Pacific,” US Navy Commander Joshua Fagan, Task Force 70 air operations officer aboard USS Ronald Reagan, was quoted as saying.The drill comes amid heightened tensions between the United States and China.

Washington has criticized Beijing over its novel coronavirus response and accuses it of taking advantage of the pandemic to push territorial claims in the South China Sea and elsewhere.The United States has long opposed China’s expansive territorial claims in the South China Sea and has sent warships regularly through the strategic waterway.China has objected to such exercises and said the US rejection of its claims in the South China Sea has raised tension and undermined stability in the region.China claims nine tenths of the resource-rich South China Sea, through which some $3 trillion of trade passes a year. Brunei, Malaysia, the Philippines, Taiwan and Vietnam have competing claims.

Source link

Continue Reading

Politics

How China is using tourism for geopolitical goals

The Chinese government has a degree of leverage over its tourists that other governments do not enjoy. Many Chinese tourists are new to international tourism and have limited international language abilities

Published

on

Decades of astonishing economic growth have given China new tools for extending its influence abroad and achieving its political goals.

(more…)
Continue Reading

Politics

Some poor guy had to sit between Trump and South Korea’s president for a ‘casual’ meal

Published

on

On Tuesday, U.S. president Donald Trump stopped by military base Camp Humphreys for lunch, during his official visit to South Korea.

(more…)
Continue Reading