China
Xi-Putin meeting: here’s what it says about their current, and future, relationship
Vladimir Putin may visit China on October 17 for the Belt and Road Initiative’s anniversary, potentially solidifying Russia’s junior partnership with China amidst changing global dynamics and weakened Russian influence.
Vladimir Putin is expected to travel outside the borders of the former Soviet Union for the first time in 20 months to meet China’s Xi Jinping on October 17. The visit, if it happens, is likely to entrench a relationship in which Russia has become a useful tool in a broader Chinese strategy to consolidate its influence in Europe and the Americas.
The occasion of Putin’s likely trip to Beijing is the tenth anniversary of the Belt and Road Initiative (BRI), an ambitious Chinese project to expand global trade routes with other nations and extend transport and infrastructure links.
To mark this event, China’s president, Xi Jinping, will host representatives from some 130 countries in Beijing on October 17 and 18.
Putin is likely to be the star guest. According to Russian sources in September, Putin accepted Xi’s invitation, although Beijing has refused to confirm this.
The two presidents would undoubtedly have lots to discuss. Since they announced their no-limits partnership in February 2022, just before Russia’s full-scale invasion of Ukraine, the world has dramatically changed and keeps changing.
Instability has gripped the South Caucasus and the Middle East – both areas where Russia and China have interests at stake.
Yet their no-limits partnership has become a much more one-sided affair. Where Moscow and Beijing may once have coordinated their approaches, it is now likely that Russia aligns its policies to suit Chinese interests. The Ukraine war has weakened Russia and diminished its influence, at least for now, not only in the Middle East and the South Caucasus but also in central Asia. This has allowed China to become the dominant power there and cement its ties with the region.
Though now clearly a junior partner to Xi, Putin’s expected trip to Beijing still signals that Russia and China share a common agenda when it comes to ending a western-dominated international order and curtailing US and European influence in what both view as their zones of privileged interest across Eurasia.
Russia keeps emphasising alignment with China, not least because it has few other options except international pariah states such as North Korea and Iran.
Western sanctions against Russia in response to Moscow’s war against Ukraine have severely reduced trade along the New Eurasian Land Bridge (an overland rail link between China and Europe), once a major transport corridor for Chinese exports to European markets.
Instead, transport routes avoiding Russia have gained in importance, including the Middle Corridor linking China across central Asia, the Caspian Sea and the South Caucasus to the EU. This has also dented Russian hopes of closer integration between the BRI and Moscow’s post-Soviet economic integration initiative, the Eurasian Economic Union (EAEU).
While the fact that Putin received an invitation from Xi to come to Beijing is important, it is also noteworthy that this is not a purely bilateral affair. In contrast to Xi’s visit to Moscow in March 2023, Putin’s trip will at best offer the Russian president an opportunity for talks with Xi in the margins of a summit designed to celebrate the BRI, a project closely associated with Xi personally.
A cargo ship from countries related to the Belt and Road Initiative docked at Qingdao Port in Shandong province, China, on October 11 2023. China is holding a summit marking 10 years since the launch of the BRI.
Sipa US/Alamy
Also, China has, and pursues, other options in its foreign relations. There is still a possibility of a meeting between US president Joe Biden and Xi at the Apec summit in San Francisco in November. And the EU’s foreign policy chief, Josep Borrell, visited China, possibly to prepare of an EU-China summit later this year.
What Xi wants to achieve
None of this implies that Xi is about to drop Putin as an ally. The key question is how Xi will balance his support for Putin with his need to stabilise relations with the US and prevent large-scale European “de-risking” – limiting technology exports to China, scrutinising investment from China, and decreasing dependency on China-only supply chains – that would further limit the access to EU markets for Chinese goods, services and capital.
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Israel-Gaza conflict: an opportunity for Putin while the world is distracted
Given the increasingly apparent conflict fatigue among Ukraine’s western partners and the likely benefits that Putin will reap from the current violent escalation in the Middle East, Xi is unlikely to disown Putin.
He may, however, see an opportunity to facilitate a settlement more on Russia’s terms than on Ukraine’s – a face-saving way out for Putin to claim victory that restores a modicum of stability across a region that remains crucial for the long-term success of the BRI and ultimately for China’s superpower aspirations.
If Xi were to pull this off, it would also cement China’s role in a future Euro-Atlantic and Euro-Asian security order.
While this would simultaneously turn Russia into a possible permanent second-order power in China’s shadow. It might also be Putin’s best hope of avoiding the humiliation of a never-ending war. That prospect, however, remains firmly on the cards, especially if China and the west maintain their current levels of support for Russia and Ukraine, respectively, which offers just enough for either side to avoid defeat.
This article is republished from The Conversation under a Creative Commons license. Read the original article.
Business
Business Update: Southern Sun Reports Earnings Growth; China Stimulates Property Market – News24
Southern Sun reports increased earnings, attributed to growth in the hospitality sector, while China’s property market receives a boost, reflecting economic recovery and renewed investor confidence.
Southern Sun Earnings Surge
Southern Sun has reported a significant increase in its earnings, showcasing solid financial performance amid evolving market conditions. This growth highlights the company’s resilience and adaptability to changing consumer demands, positioning it well for future opportunities in the hospitality industry.
China’s Property Market Recovery
In a bid to rejuvenate its economy, China has introduced measures to boost its property market. These initiatives aim to stabilize real estate prices and encourage investment, which is crucial for maintaining economic momentum. The government’s commitment to supporting the sector reflects its understanding of the industry’s importance in overall economic health.
Broader Economic Implications
The rise in Southern Sun’s earnings and China’s proactive approach to revitalizing its property market indicate broader economic trends. Investors and stakeholders are keenly observing these developments, as they may signal recovery and growth opportunities in both the hospitality and real estate sectors. The collaboration between local businesses and governmental actions will be pivotal in shaping future economic landscapes.
Source : Business brief | Southern Sun sees earnings rise; China boosts its property market – News24
China
Vietnam’s Approach to China: A Balance of Cooperation and Struggle
Vietnam’s diplomatic strategy seeks a balance of cooperation and struggle with China, focusing on strengthening ties while resisting encroachments in the South China Sea through military enhancements and regional partnerships.
Vietnam’s Diplomatic Strategy
Vietnam’s diplomatic approach seeks to maintain a delicate balance between cooperation and struggle with China. While concerned about China’s growing influence, particularly in the South China Sea, Hanoi focuses on strengthening its economic and political ties. This effort involves military enhancements, fostering relationships with regional powers, and engaging in frequent political dialogues. By skillfully navigating relations with major powers, Vietnam aims to protect its sovereignty and foster stability amidst evolving geopolitical dynamics.
Recent Developments and Implications
Hanoi’s diplomatic maneuvering has drawn attention, particularly regarding key visits like Vietnamese Communist Party General Secretary To Lam’s August 2024 trip to China. Although there are apprehensions about a potential shift in Vietnam’s alignment due to To Lam’s background in public security and his anti-corruption initiatives, it is premature to predict any significant changes in policy. Vietnam’s leaders must continuously seek a balance between peaceful coexistence with China and safeguarding national sovereignty.
Economic Interdependence and Military Modernization
Vietnam’s strategy involves fostering economic interdependence with China while simultaneously resisting encroachments. This paradigm of “cooperation and struggle” enables Hanoi to cultivate beneficial ties in economic, political, and security domains. By leveraging its geographical advantage and connections, Vietnam enhances its economic ties while countering threats through military modernization and cooperation with regional partners. This nuanced approach allows Vietnam to welcome trade, particularly amidst shifting dynamics from the US-China trade war, ensuring continued foreign direct investment and growth in key sectors.
Source : Cooperation and struggle define Vietnam’s approach to China
China
2025 Schedule of Public Holidays in China
China’s 2025 public holiday schedule increases holidays by two days, with an 8-day Spring Festival and a 5-day Labor Day. Adjustments address public frustration, though long work periods persist. Notably, weekends are often designated as workdays to balance extended breaks.
China has released its 2025 Public Holiday schedule. Compared to 2024, the number of public holidays for all citizens has increased by two days, specifically for Lunar New Year’s Eve and May 2nd.
The announcement also clarifies the adjusted holiday arrangements, stating that the continuous work period before and after statutory holidays generally should not exceed six days, except for certain special circumstances.
According to the notice, in 2025, the Spring Festival will have an 8-day holiday, the Labor Day holiday will last 5 days, and the National Day and Mid-Autumn Festival will jointly have 8 days off.
China has long been considered one of the least generous countries in terms of public holidays. Additionally, people have expressed frustration over the complicated adjustments to holiday and working days that are meant to create longer breaks. The newly introduced changes are expected to address these concerns to some extent.
Beyond the newly introduced changes, China’s 2025 public holiday schedule still features two major week-long holidays: Spring Festival (also known as Chinese New Year) and the National Day holiday (often called ‘Golden Week’).
In 2025, the Spring Festival falls between January 28 and February 4, and the National Day holiday, together with the Mid-Autumn Festival, fall between October 1 and 8.
Foreign human resource managers should note that Saturdays and Sundays are often marked as additional official workdays in China to compensate for long holiday breaks. For example, January 26 (Sunday) and February 8 (Saturday) are designated as workdays to partially offset the eight days off for the Spring Festival.
This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, and India . Readers may write to info@dezshira.com for more support. |
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