China holds parade in celebration of the People’s Liberation Army (PLA) 90th Birthday



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What message did China’s military parade send?

China holds ceremony to mark 90th anniversary of PLA founding

Chinese President Xi celebrates military in speech  focused on peace, future – CGTN America

BEIJING — President Xi Jinping said Tuesday that the Chinese People’s Liberation Army (PLA) is moving rapidly toward “strong” informationized armed forces.

Xi said the PLA has transformed from a “millet plus rifles” single-service force to one that has fully-fledged services and has basically completed mechanization.

He said that the PLA must be bold in reform and adept in innovation while staying away from rigidity and stagnation at any time and under any circumstances.

Xi reaffirmed the Communist Party of China (CPC)’s absolute leadership over the PLA.

“To build a strong military, [we] must unswervingly adhere to the Party’s absolute leadership over the armed forces, and make sure that the people’s army always follow the Party,” he said.

Xi called for a new generation of “capable, brave and virtuous” army “with souls” in order to build a strong military.

Calling political work the “lifeline” of the PLA, Xi said troops must have ironclad faith, beliefs, disciplines and responsibilities, and retain their nature and tenet as the people’s army.

Xi has urged the country’s armed forces to bear in mind the sacred duty of fighting for the people.

The PLA is deeply rooted in the people and the strength comes from the people, said Xi.

Xi called on the PLA to maintain its close relationship with the people and “go through thick and thin” with them.

The PLA should also actively contribute to the economic and social development in stationed areas to benefit the people with actions, said Xi.

Xi urged boosting integrated military and civilian development amid efforts to build a strong military.

China must build a national strategic system and capacity of military-civilian integration, he said.

The CPC has established its thoughts on building a strong military in a new phase, Xi said.

The Party has put forward a series of new ideas and requirements concerning national defense and military building in the past five years since the 18th CPC National Congress, which together constitute the CPC’s thoughts on building a strong army in the new phase, Xi said.

The Party’s military strengthening theories should be constantly enriched and developed to cope with new challenges and solve new problems under new circumstances, he said.

He stressed “coordinated, balanced and inclusive development” of economic and national defense construction.

China will never compromise on its sovereignty, security or development interests, Xi said.

“The Chinese people love peace. We will never seek aggression or expansion, but we have the confidence to defeat all invasions. We will never allow any people, organization or political party to split any part of Chinese territory out of the country at any time, in any form,” Xi said.

“No one should expect us to swallow the bitter fruit that is harmful to our sovereignty, security or development interests,” he said.

Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, made the remarks while addressing a grand gathering in celebration of the PLA’s 90th founding anniversary.

Source: China Daily/Asian News Network

PLA ready to guard sovereignty 

 

Standing ready: Chinese paramilitary policemen stand in formation at Tiananmen Square after attending a ceremony to commemorate the 90th anniversary of the founding of the People’s Liberation Army at the Great Hall of the People in Beijing. — AFP

BEIJING: The Chinese army will step up its pace of improving its joint combat capabilities and “stand ready to fight and win at any time”, State Councilor and Minister of National Defense Chang Wanquan said.

Speaking about the cross-Straits situation, Chang said yesterday the People’s Liberation Army is “confident, capable and fully prepared to resolutely safeguard State sovereignty and territorial integrity”.

Chang made the remarks during a speech at a grand reception marking the 90th anniversary of the founding of the PLA, which fell yester­day.

President Xi Jinping, who is also general secretary of the Communist Party of China Central Committee as well as chairman of the Central Military Commission, attended the reception along with other party and state leaders.

The PLA has come a long way since its birth during the armed uprising in the city of Nanchang on Aug 1, 1927, when it had only 20,000 soldiers.

Xi oversaw and addressed a grand military parade on Sunday marking the 90th anniversary at the Zhurihe Training Base in North China’s Inner Mongolia region.

Yesterday morning, Xi attended a grand ceremony in Beijing commemorating the 90th anniversary and delivered a speech.

Led by Xi, the PLA has been advancing reform, technological upgrades, boosting training and combat readiness, Chang said.

Through this, it has achieved thorough restructuring and greatly enhanced its combat effectiveness, he added.

The military will press ahead with reforms and staunchly focus on winning in combat and training for readiness, Chang said.

Speaking of the cross-Straits situation, Chang said adherence to the 1992 Consensus and opposition to Taiwan independence constitute the political foundation of peace and development of cross-Straits relations.

Any form of secessionist attempt by anyone at any time would surely be opposed by the whole Chinese people and nation, he added.

Noting the Chinese military’s role as a contributor to world peace, he said the PLA facilitates global development and supports international order.

As of June, the Chinese military had participated in 24 UN peacekeeping missions, sending 31,000 personnel, 13 of whom lost their lives on duty. — China Daily/Asia News Network

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Prospering with Belt and Road to reap the benefits of China’s initiative


Malaysia is one of 64 countries to reap the benefits of China’s initiative.

CAN money grow on fruit trees?

Yes, that is as far as Agriculture and Agro-based Industry Minister Datuk Seri Ahmad Shabery Cheek is concerned.

After witnessing the signing of a deal worth US$1.53bil (RM6.65bil) between Malaysia’s AgroFresh International and China’s Dashang Group for the export of local Cavendish bananas and tropical fruits to China, he said:

“Money does grow on fruit trees if our agriculture products could open up China’s market.”

The deal was part of the nine memorandums of understanding (MoUs) and agreements, with value totalling more than US$7.22bil (RM31.26bil), which were signed between Malaysian and Chinese companies on May 14.

But Datuk Seri Ong Ka Chuan, International Trade and Industry Minister II, sees more money flooding in once Malaysia is linked up with other Asean nations, China and Europe via rail connection under China’s Belt and Road Initiative, now termed as the New Silk Road project.

“Our trade figures can jump by three to four folds once Malaysia can export and import goods to our major trade partners (such as China, Europe and Middle East) overland via rail systems,” he tells Sunday Star.

Both ministers are among Cabinet members in the Malaysian delegation led by Prime Minister Datuk Seri Najib Tun Razak to attend the Belt and Road Forum for International Cooperation held in Beijing from May 14 to 15.

Malaysia is one of the 64 countries outside China that have benefited from the Belt and Road Initiative, propounded by Chinese President Xi Jinping in the autumn of 2013.

One project to be launched soon will be the RM55bil East Coast Rail Link. Examples of existing projects include Xiamen University and the deepening of Kuantan Port.

At the opening ceremony of the forum, Xi injected fresh impetus to his pet project by announcing hundreds of billions in new funds for infrastructure investment in Belt and Road countries that span Asia, Middle East and Europe.

According to some estimates, Chinese funds allocated for investing in Belt and Road countries – which include several exiting funds announced since 2013 – total around US$900bil (about RM4 trillion) now.

“Model of regional cooperation”

From Mongolia to Malaysia, Thailand to Pakistan and Laos to Uzbekistan, many projects, including high-speed railways, bridges, ports, industrial parks, oil pipelines and power grids, are being built, Xi said.

Since 2013, Chinese private businesses have invested more than US$60bil (RM260bil) in countries along the Belt and Road, in addition to the US$50bil invested by the Chinese government.

Xi’s speech also reveals that China will expand China-Europe railway cargo services, which are stirring up excitement in European nations – particularly Britain.

Belt-road: Ong signing Belt and Road MoU with Vice Chairman of National Development and Reform Commission of China Zhong Yong on May 13, 2017. Witnessing are Najib and China’s Premier Li Keqiang.

Calling his brand of globalisation as “project of the century” to achieve a win-win situation for all, Xi has committed to importing US$2 trillion (RM8.7bil) of goods from the 64 Belt and Road countries – many of which are under-developed and impoverished nations hungry for infrastructure and industrial investments.

The Chinese leader’s pledge of “non-interference” with the domestic politics of other countries is comforting, given that there are concerns that China could aim to be a hegemony with its economic and military might.

“What we hope is to create a big family where we can co-exist harmoniously,” Xi said last Sunday in his speech that also focused on connectivity in policy, infrastructure, trade, finance and people.

The forum is by far the most important and largest meeting on the Belt and Road Initiative since 2013.

About 130 countries were represented at the forum and they accounted for two thirds of the world’s population. Their combined gross domestic product accounts for 90% of the world’s total, according to Xinhua.

Klaus Schwab, founder and executive chairman of the World Economic Forum, regards the Belt and Road Initiative as “a shining model for regional collaboration, development and growth”.

“This initiative respects the differences between countries and their various paths for development, not imposing a specific plan or ideological framework, but seeking to create common ground for cooperation and mutual benefit,” Schwab told Xinhua.

UN secretary-general Antonio Guterres, also told Xinhua: “China will play a very important role in multi-lateralism with the Belt and Road. The initiative reflects a new model of international cooperation and interaction with mutually beneficial cooperation through the connection of policies and development strategies.”

And Jack Ma, executive chairman of Alibaba Group, shared: “The initiative goes far beyond the economic strategy of any single country or region. Its mission is to make the world more innovative, dynamic, and equal.”

Big step: Fernandes is excited that China has allowed AirAsia to be the first low-cost carrier to set up shop in the Middle Kingdom.

AirAsia deal – another first in China

On the sideline of the forum, Malaysian and Chinese leaders took the opportunity to clinch more agreements that brought bilateral ties to another new high.

While the deals signed last November were far more than this round and higher in total value, the Chinese Government continued to grant “first” to Malaysia. This was reflected in a project given to Tan Sri Tony Fernandes, group chief executive officer and founder of AirAsia Bhd. Soon, the sky will see AirAsia China.

“It is the first time a foreign airline is given permission to establish and operate a low-cost carrier in China. We are the first country to be granted such licence,” Najib told reporters at the conclusion of his visit to China.

AirAsia is establishing a joint venture with China Everbright Group, with an initial stake of 22%. However, AirAsia may raise its stake in future.

China Everbright is a government-owned financial services conglomerate, which is a major shareholder in China Aircraft Leasing Group Holdings Ltd and the Henan Government Working Group.

The plan is to set up AirAsia China to be based in Zhengzhou, the capital of Henan, to ply domestic and international flights.

“Tony Fernandes was very excited because he was able to meet the top transport and aviation officials, whom he could not secure appointments with previously. He has been working on this project for years,” a minister told Sunday Star.

Other Cabinet ministers are also upbeat after attending the Belt and Road Forum.

“I have witnessed the fruits of the close diplomatic ties between Malaysia and China, and between Najib and Xi Jinping during this trip,” says Transport Minister Datuk Seri Liow Tiong Lai, who signed a MoU on infrastructure cooperation with China.

“In China, economic developments are influenced by government policies. Now that our leaders have good ties with China, it is very timely for Malaysian businessmen to enter China, and vice versa,” he tells Sunday Star.

Important talks: Liow (second from left) leading a Malaysian delegation at a meeting with his Chinese counterpart at China’s Transport Ministry in Beijing on May 12 morning. From left are Transport Ministry deputy secretary-general Datuk Chua Kok Ching, MCA vice president Datuk Dr Hou Kok Chung and Fernandes.

“We have to promote economic growth fast enough so that we can harvest the fruits of the Belt and Road Initiative.

“The opportunities for Malaysia to develop the infrastructure and boost economic growth would not be available if not for the Belt and Road Initiative pushed forward by China,” he adds.

Minister in the Prime Minister’s Department Datuk Seri Dr Wee Ka Siong observes: “There are quite a number of business-to-business MoUs signed during this trip, in addition to the nine witnessed by Prime Minister Datuk Seri Najib Tun Razak.

“I was also invited to attend many discussions and meetings, sometimes I had to have many meals a day! (as discussions were held over meals).”

Wee, whose ministerial portfolio covers development of Chinese small and medium enterprises (SMEs), has personally requested Ma to reduce charges for Malaysian SMEs when they use Alibaba’s platform to sell products.

Ma, an e-commerce wizard and China’s second richest man, is expected to give consideration to the proposal as he has pledged to help Malaysia develop its digital economy. Ma will set up the Asean data centre in Malaysia before the end of the year.

Analysing Belt and Road Initiative, Shabery Cheek says: “Belt and Road is a different form of cooperation from other pacts, such as the Trans-Pacific Partnership (TPP) and World Trade Organisation (WTO). Those emphasised on what goods were tax-free and what were not, which sectors to open up and which could not. Essentially, they focused on how to protect the self-interests of individual countries.

“However, the Belt and Road talks about infrastructure networking, which is very important. They take the cue from the ancient Silk Road, which was not only a channel to transport goods, but also to spread Islam and Buddhism. That is a great thing.”

Source: Sunday Star by Ho Wah FoonTho Xin Yi

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Chinese car-maker Geely to make Malaysia its global hub, help Proton drive into future


PUTRAJAYA: The entry of a major Chinese carmaker into Proton Holdings Bhd will not only ease its financial woes, but also bring fresh capacity to the group’s underutilised factories.

Zhejiang Geely Automotive Co Ltd plans to turn Malaysia into its global hub to manufacture all of its right-hand drive cars, including its premium Volvo brand.

Geely will take a leadership role in production, sales and marketing. Proton will be responsible for distribution of the brand in Malaysia.
These were among the highlights mentioned at the signing ceremony in Putrajaya between DRB-Hicom, the parent company of Proton, and Geely.

Proton and Geely yesterday signed an agreement that would see Geely take a 49.9% stake in Proton. Both parties have not finalised the price Geely would pay for the stake.

Through the partnership, Geely executive vice-president and chief financial officer Daniel Li said Geely would focus on assisting Proton to sell 500,000 cars in Malaysia and around the region by 2020.

He said Geely would be contributing technology, talent and money to Proton. These include platform-sharing that would see the development of Proton’s first-ever SUV model from Geely’s best selling model – the Boyue.

DRB-Hicom group managing director Datuk Seri Syed Faisal Albar said in the competitive automotive industry, partnership among carmakers globally was common.

A partnership would also further expand Proton’s reach to other markets and give it better economies of scale.

“This partnership with Geely will create more jobs in Proton,” he told reporters yesterday.

Proton has a workforce of about 10,000 which produces about 100,000 cars a year. In 2016, sales of Proton cars dropped 30% to 72,290 units from 102,174 previously.

The company reported a loss of almost RM1bil last year.

Proton’s Tanjung Malim plant, which is designed to produce a million cars every year, will be made a new manufacturing hub for Geely.

Syed Faisal said Proton would relocate its entire production from Shah Alam to Tanjung Malim within five years.

Despite the entry of a new foreign partner, Proton will maintain its national car status. This means its industrial linkages, including vendors and dealers, will not be affected by the change in shareholding.

Under the heads of agreement signed between DRB-Hicom and Geely, the Chinese carmaker will take a 49.9% equity interest in Proton and also a controlling stake in Lotus, the British sportscar maker, from Proton.

No financial details were disclosed in the sale of a stake in Proton, while for Lotus, Geely would be paying £51mil (RM284mil) for a 51% stake in Lotus.

Syed Faisal said DRB-Hicom planned to sign a definitive agreement with Geely in July.

Also present at the signing ceremony was Second Finance Minister Datuk Seri Johari Abdul Ghani, who clarified that with the partnership with Geely in place, Proton would need to repay its RM1.25bil soft loan from the Government.

As part of the conditions for the soft loan, Proton was required to collaborate with a well-known strategic partner.

The requirement to collaborate with a well-known strategic partner was imposed on Proton as part of the conditions issued by the Government for its approval of the RM1.25bil soft loan to Proton, in which a bulk of the money was used to pay its vendors.

Separately, Johari said Proton was entitled to a RM1.1bil reimbursement from the Government for its RM3.5bil spent on research and development in the past.

Johari also said there would be no more “subsidy” for Proton from now on, and that the Government would no longer have a golden share in Proton with Geely entering into a partnership with the national carmaker.

Source: The Star by intan farhana zainulandizwan idris

‘Geely to help Proton drive into future’

IPOH: The decision by Proton to embark on a partnership with China’s Zheijiang Geely Automotive Co Ltd is timely because cars are predicted to be next in line to undergo sweeping innovations.

International Trade and Industry Minister II Datuk Seri Ong Ka Chuan said that in light of Industrial Revolution 4.0, bringing in Geely as Proton’s strategic partner would ensure the Malaysian company’s survival as cars increasingly adopt digital technology.

Industrial Revolution 4.0, or Industry 4.0, is the current trend of automation and data exchange in manufacturing technologies which include cyber-physical systems, the Internet of Things and cloud computing.

“After attending the Hannover Messe, the world’s biggest trade fair for industrial technology, I learned that self-driving cars are the next big thing.

“This means that you are looking at a future where cars will have no steering wheel.

“With just the touch of a panel, the car will bring you to your destination,” Ong said after witnessing the swearing-in of the new committee of the Perak Chinese Cemeteries Management Association yesterday.

He said Geely would be Proton’s channel to embracing technological innovations.

“I’m not saying to expect Proton to be a frontliner in this, but at least with a strategic partner it can move along with the times,” he added.

He said Geely would also open a new market for Proton, which was important for the national carmaker’s survival.

He said it was not a decision made purely in favour of China.

“Over the years, it’s been no secret that Proton accumulated losses and will need a big market to cater to in order to settle all the debts. This is the reality.

“Proton only narrowly met its sales target of 580,000 units last year, while Chinese brands sold 28 million units,” he said.

In view of its small volume, Ong said it would be difficult for Proton to fund sophisticated research and development initiatives.

“We need a larger market for things to work out. The Industrial Revolution 4.0 is all about innovation. We can’t do it ourselves, which is why working with advanced nations is our best bet,” he added.

The Star by Amanda Yeap

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America vs China: odds narrowing


Leaders meet: A file picture showing Trump welcoming Xi to the Mar-a-Lago estate in West Palm Beach, Florida during the latter’s visit to the US recently. Xi has a growing economy too behind him, whatever the hiccups. Trump only promises one, without any clarity or logic. – AFP

THE contrast could not be greater. While United States president Donald Trump raves and rants – and belts this or that person – China’s president Xi Jinping looks measured and assured as he offers a global future to the world.

Xi is no angel of course, as his political opponents would know, but his system conserves and protects him, as Trump’s would not. If only Trump were the leader in a centrally controlled political order – but even then his temperament would blow it apart.

Leadership, like politics, is the art of managing the possible. Trump does not understand this, and does not know how. Xi does, knows why, and knows how.

He has a growing economy too behind him, whatever the hiccups. Trump only promises one, without any clarity or logic.

His plan to boost the American economy, based primarily on slashing corporate tax from 35 to 15%, is likely to flounder in an American Congress seriously concerned about its causing the fiscal deficit to balloon.

Already Trump has had to climb down from trying to secure funds from Congress for his dreaded border wall with Mexico in order to avoid budgetary shutdown in September.

The stock market has fallen back from the boost to the price of banks and industrial products following his election. Interest now has returned to what might be termed “American ingenuity stocks” such as Google, Apple and Microsoft on Nasdaq – a proxy for much that is great about America, which Trump’s immigration and closed-door policies threaten to destroy.

Meanwhile Xi has been rolling out his “Belt and Road” plans – something he first envisaged at the end of 2013 – for greater world connectivity and development, committing funds from China and the Asian Infrastructure Investment Bank, and engaging global financial institutions such as the World Bank.

Malaysia, for instance, will be an actual beneficiary with additional projects thrown in. China is Malaysia’s largest trading partner. But the US has not been a laggard, being Malaysia’s fourth largest trading partner. And indeed the US remains the largest foreign investor in Malaysia, both new investments and total stock.

A staggering statistic not often recognised is that total American investment in Asean is more than its investment in China, Japan and India COMBINED!

The point, however, is that this position is being eroded. Trump’s policies are hastening this process. Abandonment of the Trans-Pacific Partnership (TPP) means there is no American strategic peaceful challenge to the Chinese economic juggernaut in Asia-Pacific.

Balance is important to afford choice. Absence of choice means serious exposure to risk. Price, quality and after-service standards are affected, not to mention a new geostrategic economic underlining.

Over-dominance by China in the region is a price not only countries in the region will pay, something that most probably is on Trump’s mind. It is a price that America too will sooner or later have to pay.

China’s Belt and Road proposition is not without its challenges, of course. India is deeply suspicious of the connectivity with Pakistan which cuts across India-claimed Azad Kashmir, about 3000km of it.

The link to the Pakistani port of Gwadar, in southwest Baluchistan on the shores of the Arabian Sea, is seen by India as a Chinese presence at the entrance to the Indian Ocean and a hawk eye on the Indian sub-continent. With the Chinese also in Sri Lanka, India is circumspect on China’s Belt and Road initiative.

There have also been commentaries on some uneconomic linkages which extend right across the English Channel.

All these reservations, however, do not take into account the benefit of connectivity to economies, the time it often takes to get those economic benefits and, most of all, the patience, persistence and long view of history of China and its leaders.

One of the most striking things about the Belt and Road map is that America is not there. Of course, Xi Jinping does not preclude America just as much as the US did not say that China was not permanently excluded from the TPP. And of course, in the Old Silk Routes and shipping lanes, the New World – America – had not been discovered.

But in their revival, led by now rising and then ancient China after 150 years of national humiliation to the present time, there is the irony that the last three quarters of a century of America world dominance is on course to be marginalised, if not supplanted, by the old Eurasian world centred in an ancient civilisation.

Trump does not seem to understand history. The art of the deal is purely transactional. Short-tempered and short-term gratification does not a strategy constitute.

So we have leader, system and economic promise distinguishing the two leaders – and the two countries.

Instead of America first, what we are seeing is Trump hurrying America’s decline relative to a rising China.

We are not seeing a world changed from people wanting to be like a kind of American to being people wanting to be a kind of Chinese. Actually, the Chinese people themselves want to be like a kind of American, with all that wealth, influence and power.

What we are seeing is China – not America – leading the way to that desired, if not always desirable, end. It is China that is driving the next phase in the evolution of world economic development.

Under Xi Jinping, China appears to be heroically moving towards an epochal point in its Peaceful Rise. With Donald Trump, America is being led backwards and inwards, with all the problems of its governance now all coming out. It is in grave danger of losing in the peaceful competition.

Not knowing how to play that game – certainly under its current President – there remains the danger of the status quo power lashing out against the rising one.

The Greek historian Thucydides observed: “It was the rise of Athens and the fear that this instilled in Sparta that made war inevitable.”

A Harvard professor has studied what is now called the Thucydides Trap and found in 12 out of 16 cases in which this occurred in the last 500 years, the outcome was war.

There are many potential flash points against the background of China’s rise – the North Korean Peninsula and the placement of THAAD missiles in the south, the South China Sea – where Trump may temperamentally find cause to lash out. This is the trapdoor he might take the world down because of failure to compete peacefully.

By munir majid – crux The Star

Tan Sri Munir Majid, chairman of Bank Muamalat and visiting senior fellow at LSE Ideas (Centre for International Affairs, Diplomacy and Strategy), is also chairman of CIMB Asean Research Institute.
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One Belt One Road paving the way to success


In 2013, Chinese President Xi Jinping proposed building the Silk Road Economic Belt and 21st-Century Maritime Silk Road, which became known as the Belt and Road Initiative.

Countries along the Belt and Road have their own resource advantages, and their economies are mutually complementary. This means there is a great potential and space for cooperation.

Connecting facilities is a priority in implementing the initiative. On the basis of respecting each other’s sovereignty and security concerns, countries along the Belt and Road are improving the connectivity of their infrastructure construction plans and technical standard systems, jointly pushing forward the construction of international passageways, and forming an infrastructure network connecting all sub-regions in Asia, and between Asia, Europe and Africa.

At the same time, China and countries along the way are making efforts to promote green and low-carbon infrastructure construction and operation management, taking into full account the impact of climate change on any construction.

With regard to transport infrastructure construction, they are focusing on key passageways, junctions and projects, and giving priority to linking up unconnected road sections, removing transport bottlenecks, advancing road safety facilities and traffic management facilities and equipment, and improving road network connectivity.

Countries along the Belt and Road are building a unified coordination mechanism for whole-course transportation, increasing connectivity in customs clearance, reloading and multimodal transport, and gradually formulating compatible and standard transport rules, in order to facilitate international transport.

China suggests pushing forward port infrastructure construction, building smooth land-water transportation channels, and advancing port cooperation, increasing sea routes and the number of voyages, and enhancing information technology cooperation in maritime logistics. We should expand and build platforms and mechanisms for comprehensive civil aviation cooperation, and quicken our pace in improving aviation infrastructure.

In this episode, we will see how Belt and Road helps close the distance between people around the world.

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Belt-road changes world order


Illuminated boards highlighting Xi’s signature One Belt- One Road foreign policy plan in Beijing. Leaders of 28 countries are set to attend the summit in the Chinese capital next month to discuss the infrastructure investment programme to stitch together the Eurasian continent. — AP‘Win-win development will lie at the core of the forum. The Belt and Road has become the most important public good China has provided to the world. It was first proposed by China, but now it is for all countries to enjoy.’ – Wang Yi.  ‘Belt and Road has the power and prestige of President Xi Jinping behind it. It is the centre of his vision for China, and of his ambition to transform China’s place in the world during his time as its leader … And already it is starting to change the geoeconomic and the geopolical landscape.’ – Huge White

 

China’s ambitious economic plan is set to draw up a new global paradigm with countries seeking to engage the Middle Kingdom.

WHEN the ambitious Belt and Road initiative – with projects reportedly worth US$1 trillion – was first announced by President Xi Jinping in the autumn of 2013, many were sceptical of this Chinese move aimed at building up economic connectivity of 65 nations (China plus 64) along its ancient silk road and maritime routes.

For China, this New Silk Road would also serve to redirect the country’s domestic overcapacity and capital for regional infrastructure development to improve trade and ties with Asean, Central Asian and European countries.

Unprecedented in terms of China’s financial commitment, many Western critics have viewed this strategy as a grandiose foreign policy to expand Beijing’s influence to poor nations hungry for economic and infrastructure development.

The initiative was mooted at a time when the United States and the West excluded China from regional trading blocs. Hence, Beijing’s new development vision has been read as a strategy for asserting its leadership role in Asia and beyond.

But after nearly four years of promoting the concept and implementing projects, this initiative – dubbed as a modern-day Marshall Plan – is gaining traction.

It is seen by some Western academics as posing a threat to the US-centric world trade order and economic model.

Without a doubt, China is heading towards achieving its regional economic and diplomatic objectives. And the internationalisation of the renminbi is being boosted.

“We expect the One Belt-One Road (OBOR) to support long-term growth of development in the economies involved, particularly in some of the least developed parts of the world… We also expect it to help boost China’s global influence,” says a report dated April 27 by Oxford Economics.

While the idea of enhancing connectivity has drawn interest, the worry on China’s potential hegemonic ambitions has prevailed among regional rivals India and Japan, as well as the United States.

Despite this, nations that correctly read China’s economic strategy and Xi’s resolve were quick to announce their support for this China-led inclusiveness. And Malaysia had become one of the earliest participants and is now a gainer.

The Belt and Road initiative is largely assessed as having progressed well despite some setbacks.

Many countries are at ease to engage with China, particularly after Xi declared the “Three Nos”: no interference in the internal affairs of other nations; no intention to increase the so-called “sphere of influence”; and no motive to strive for hegemony.

Recipient nations are enjoying higher economic, trade and business activities, as well as a tourism boom helped by the influx of tourists from China – the world’s second largest economy and biggest consumer market.

The impact of the Chinese strategy is particularly conspicuous in the least developed nations in Africa and West Asia, as well as Asean nations such as Laos, Vietnam, Indonesia, Cambodia and Malaysia.

“Many belt-road countries have for many years been neglected by the West and Western investors, so even though there are concerns, some countries see China as offering once-in-a-lifetime chance to get out of poverty and under-development,” observes Dr Ngeow Chow Bing, deputy director of Institute of China Studies, Universiti Malaya.

China says it has invested more than US$50bil (RM220bil) on belt-road projects over the past three years, and signed project contracts worth US$926bil (RM4.16 trillion) covering mainly railway networks, highways and ports.

But China and its construction companies have also benefited from these endeavours. Its economy has been stimulated by exports from industries with overcapacity such as steel, cement and aluminium. Its GDP growth of 6.9% in the first quarter of 2017 was higher than expected.

Significantly, China’s state-owned construction conglomerates have successfully ventured out into belt-road nations. With these giants leading the build-transfer-operate schemes, smaller private enterprises have followed suit.

With China’s infrastructure projects and industrial investments extended to over 60 nations, the belt-road strategy is challenging the US-led world order and a new economic paradigm is definitely emerging, according to analysts.

Teoh: ‘OBOR will reshape the world’s economic dynamics
  “OBOR will significantly reshape the world’s economic dynamics. It will sharply increase accessibility and trades, across over 65% of the world’s population and 25% of global trade and services,” says Teoh Kok Lin, founder and chief investment officer of Singular Asset Management, a Kuala Lumpur-based regional asset investment company.

“Emerging economies, in particular, will benefit most from the increased global trades and services as well as improved infrastructure. OBOR will expand trade globalisation at a time when the world is worried about the Trump administration push towards the Buy America policy,” adds Teoh.

Closer economic relations with Beijing has helped reduce regional tension and friction, as seen in the case of the South China Sea where the Philippines under its current president saw economic cooperation with China as more practical.

Despite concerns over China’s rapid reclamation of reefs in South China Sea, in which Manila and several Asean nations have contesting territorial claims with China, the Asean Summit is unlikely to kick up a storm.

According to Reuters, Philippine President Rodrigo Duterte said on Thursday “it is pointless” discussing Beijing’s contentious activities in the South China Sea at this summit, and “no one dared to pressure China anyway.”

Referring to the Belt and Road initiative as “a brilliant plan”, CLSA in its report remarks: “Xi Jinping’s ambitious strategic initiative – an adaptation of the historical Silk Road – marks the beginning of a new geopolitical era.”


May 14-15 summit and forum

The major achievements of the belt and road initiative are expected to be further highlighted at the coming two-day Belt and Road Forum for International Cooperation, which will be opened by President Xi on May 14 in Beijing.

This summit could be the most important diplomatic event this year to discuss what is expected to be the largest global economic programme.

“Amid challenges and the perceived fear of China’s influence of regional geopolitical landscape, China’s OBOR initiative has achieved commendable progress since 2013,” says Datuk Ter Leong Yap, president of the Associated Chinese Chamber of Commerce and Industry of Malaysia.

“China has made significant headway by kick-starting infrastructure and connectivity projects to facilitate trade and investment, promote financial cooperation as well as deepening cross border flow,” he adds.

Since 2013, China’s businessmen have built 56 economic and trade cooperation zones in belt-road countries, generating nearly US$1.1bil (RM4.7bil) in tax revenue and creating 180,000 jobs, according to Xinhua.

Large-scale infrastructure projects – along with funding – have led to a boom of economic activity in countries like Kazakhstan, Azerbaijan, Georgia, Belarus, and Poland.

And in Asean, rail and ports projects are either being constructed or planned. These include the China-Laos Railway, Jakarta–Bandung High Speed Rail, Malaysia’s East Coast Rail Link and a high-speed rail project in Thailand.

And Eurasia, the vast landmass from China to Europe, is being interconnected into a massive market via high-speed China-Europe, trans-Eurasian direct trains.

These modern freight rail systems, which have replaced the silk-laden camels of the Han Dynasty, could transport goods at lower costs and more efficiently from China to European cities (and vise versa), compared to shipping.

In sum, China’s overland belt-road projects have achieved the objective of building a trans-national network connecting Asia with Europe and Africa, and promoting economic development in participating countries.

And it looks like the current objective and scope will be widened to embrace nations outside the belt-road routes.

“China is upbeat about the initiative in boosting mutual development and is willing to channel more energy into it,” declared Chinese Foreign Minister Wang Yi on April 21, when he briefed the media on the coming summit and forum.

“Win-win development will lie at the core of the forum. The Belt and Road has become the most important public good China has provided to the world. It was first proposed by China, but now it is for all countries to enjoy,” Wang said.

A total of 28 heads of state and government – including Russian President Vladimir Putin, Turkish President Recep Tayyip Erdogan and Malaysian Prime Minister Datuk Seri Najib Tun Razak – have confirmed they will be attending the May 15 summit.

UN secretary-general Antonio Guterres, World Bank president Jim Yong Kim and International Monetary Fund managing director Christine Lagarde will also be present.

Over 80 leaders from international organisations, 100 ministerial-level officials, as well as 1,200 delegates from various countries will be there, too.

President Xi will deliver a keynote speech, as well as host a roundtable meeting to brainstorm on policy and strategic development and interconnected development in the world.

There will be another high-level meeting to discuss infrastructure, trade and economic cooperation, energy resources, financial cooperation, eco-environment, and people-to-people exchanges.

According to Wang, China expects to sign agreements with around 20 countries and 20 organisations at the event to turn the grand blueprint into a workable road map, and to push for the delivery of joint projects under earlier MOUs.

He clarified that China has no intention of drawing geographical boundaries to areas covered by the initiative.

“As long as the spirit of the Belt and Road is recognised… everyone can enjoy its opportunities,” he said.

Japan sprang a surprise last week when Toshihiro Nikai, the secretary-general of the ruling Liberal Democratic Party, said he would attend the New Silk Road summit.

“Given the international situation starting with North Korea, mutual understanding between Japan and China is vital,” he was quoted by Jiji News Agency as saying.

What lies ahead in 2017?

Over the past two years, China had generated huge momentum for its New Silk Road initiative by signing many MOUs on infrastructure projects with belt-road countries.

Chinese firms, mainly state-owned or controlled, had reportedly signed investment deals worth US$171bil (RM742bil). Among these was the US$46bil (RM200bil) China-Pakistan economic corridor.

The government of Xi is expected to start making good on these projects this year and help facilitate their financing and implementation.

Nearer home, the financing and construction of Malaysia’s RM55bil East Coast Rail Link is expected to start this year. The rail project is set to spur economic activities in the east coast states of the peninsula.

Wake Shepard, a China watcher and writer, expects increased economic participation from Europe.

“Beyond the further development of key trans-Eurasian logistics hubs on the Poland/Belarus border and a port in Greece, look for more high-end European products going overland by rail to China,” he wrote on Forbes.com.

Many Europe-based logistics giants have been promoting Europe-China rail transport in 2016, and in 2017 they should see results from these efforts, he added.

“European freight forwarders, manufacturers and policy makers are now waking up to the fact that these newly enhanced trade corridors are providing ample opportunity to get more of their high-value products to the booming markets of China and the rest of Asia,” says Shepard.

For China, the forum may be a good platform for it to listen to views on why some ventures did not progress well, such as its port-city investment in Sri Lanka.

Complaints that Chinese firms have posed unhealthy competition and threaten to wipe out small businesses of belt-road countries could also be on the table for deliberation.

The Middle Kingdom may also have to assess whether it is worthwhile to take risks in countries clouded by security issues, political instability and racial conflicts.

Belt road implications

The importance China has attached to the Belt and Road summit and forum goes to show how vital this international economic inclusive programme is to China and Xi.

It is imperative for Xi, who took over the presidency in late 2012, to show his ability to transform China into a global, influential leader.

After three decades of rapid growth, China needs to seek new investment and trade opportunities beyond its borders and the belt-road initiative mooted by Xi is addressing this predicament.

The infrastructure projects China build in belt-road countries will help absorb a significant portion of the country’s overcapacity, and counter its economic slowdown.

As western China has often been troubled by tension between the financially-weak Uighur Muslims and China’s Han majority in Xinjiang Province, economic development in this old silk road region may pacify the Uighurs and reduce ethnic conflicts.

But Hugh White, professor of strategic studies at the Australian National University in Canberra, sees China as having much bigger ambitions.

“China wants to consolidate its position at the centre of the global supply and manufacturing networks which will be the key to the global economy over the coming decades,” he wrote in a recent comment.

The initiative will also help China to realise its ambition to become a middle-income country and reinforce its parallel ambition to take the lead over the coming decades in developing key technologies and setting global standards – including for high-speed rail and data networks, he added.

He opined the Belt and Road Initiative could not be dismissed as a mere dream.

“It has the power and prestige of President Xi Jinping behind it. It is at the centre of his vision for China, and of his ambition to transform China’s place in the world during his time as its leader. And already it is starting to change the geo-economic and geopolitical landscape.”

“If America and its allies are determined to resist China’s challenge to the old US-led liberal global order, they have to counter Beijing’s powerful vision. And to do that they need an equally powerful and ambitious global economic vision.”

Source: by Ho Wah Foon The Star/ANN

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Get-rich-quick schemes thriving in Penang: many losers in the money game!


CALL them pyramid, Ponzi or get-rich-quick schemes and people might shy away. But call them money games, and suddenly they are just games, is that right?

What can be so diabolical about that?

Penang lang (people) are very much into money games. That’s what Ben, a Penangite who now lives in Australia, found out when he came back for a holiday three weeks ago.

Ben’s friends and relatives tried to rope him into money games. They themselves had “invested” in a few “games”.

He was astounded by their obsession. It does seem as if money games are on the minds of many Penangites now.

I hear about them at the coffee shops and watering holes. And yes, many of my buddies are into them too.

You will likely be the odd one out if you are not into such schemes these days.

JJPTR is a now household acronym after almost two years in the market. It stands for JJ Poor-to-Rich and the very name resonated well with middle-class families.

Its 20% monthly payouts were always on time, until the recent hacking job.

Then came Richway Global Venture, Change Your Life (CYL) and BTC I-system, but they too are said to be in troubled waters these days.

Attempts by many journalists to contact them have been unsuccessful.

The money game list is quite long, and Penang has the dubious honour of being the home base for many.

Another friend, Robert, had a jolt when a doctor he knew told patients to put their money into such a scheme. A doctor!

From the cleaners at his office to the hawkers and professionals he met, everyone, it seems, was convinced. None questioned how the high returns could come to fruition in such a short time.

But Robert is a harsh critic of these games and would not go anywhere near them. He didn’t believe in their economic “principles”.

He even got into a big fight with his father, who put money into JJPTR.

And now, Robert has been proven right. Fortunately, his father was one of the lucky ones because he managed to recoup his principal sum, on top of the thousands more he had received over the past few months.

Billy, a man well-versed in such operations, said operators would always use forex trading or investment in foreign projects as cover stories to woo new members.

They paint vivid pictures of those joining becoming part of big-time developments in Third World countries like Cambodia and Vietnam.

Once you get closer to them, they will tell you outright it is a money game and that you are among the pioneers, sure to make a profit before the scheme bursts.

Things tend to be smooth sailing for the first few months. You see money coming back in and pride yourself in taking the risk.

But soon the saturation point is reached as new members to the pyramid slow to a trickle.

Then you can expect the scheme to collapse.

Billy pointed out that the higher the return on investment, the faster the scheme bursts.

That’s because the operator cannot get enough new members to keep the scheme sustainable. At the same time, he has to deal with huge monthly payouts.

Some in Penang may remember the chance to invest in a cafe chain known as Island Red Cafe around 10 years ago. Then there was that company that sold gold bars and coins. There was also a Swiss cash scheme which took the country by storm.

As long as there is greed, such schemes will always re-emerge. As they say, a fool and his money are soon parted.

Honestly, the quickest way to double your money is to fold it in half and put it back in your pocket.

Please bless the money game

Still very much alive: Investors of Mama Captain are allowed to continue trading their virtual money at any outlet displaying the ‘Barrel2U’ banner.

GEORGE TOWN: Some investors are seeking “divine intervention” for money games to last.

A 10-second video clip of a man praying aloud before a temple shrine is fast circula­ting on social media and phone chat groups.

His prayer goes: “Datuk Gong (deity), I pray to you. Please bless money games. Please help them stay afloat for a few more months.”

His prayer is in Penang Hokkien and he mentions “money game” in English.

It is believed to be a satirical meme on money games, and there are several more spreading.

Memes on the Penang-based JJPTR, or Jie Jiu Pu Tong Ren in Mandarin (salvation for the common people), have also gone viral online.

One of them, titled “Life without JJ” in Chinese, is accompanied by a picture of a plate of plain rice topped with a few strands of fried vegetable.

Another similarly titled meme shows grubby, tattered underwear and is captioned: “Don’t ask me how my life is lately. The underwear explains everything!”

Meanwhile, a man known as Bingyen has cynically adapted the lyrics of a popular Mandarin song Zui Jin Bi Jiao Fan (Troubled Recently) to relate to JJPTR.

Interestingly, the Chinese name of JJPTR founder Johnson Lee rhymes with one of the song’s singers, veteran Taiwanese musician Jonathan Lee. Both their names are similar in pinyin – Li Zong Sheng.

Bingyen, in his lyrics, also advised the people to stay away from money games.

According to speculation online and media reports, JJPTR investors, said to number in the tens of thousands locally and internationally, including Canada, the United States and China, stand to lose RM500mil.

Lee, who has blamed the company’s losses on hackers, however, put the figure at US$400mil (RM1.75bil) in a widely-circulated video recording later.

The 28-year-old founder, in a video posted on the JJPTR Malaysia Facebook page last week, made a promise to repay its members by May 20. Also on the same day, the company is supposed to hold a dinner gathering at Berjaya Times Square in Kuala Lumpur.

The forex trading company, along with its associate entities JJ Poor to Rich and JJ Global Network under http://www.jjptr.com, is among the 288 entities and individuals listed on Bank Negara’s Financial Con­sumer Alert as of Feb 24.

Source: Pinang points by Tan Sin Chow

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