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Xi-Putin meeting: here’s what it says about their current, and future, relationship

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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.

Read more:
How China is increasing its influence in central Asia as part of global plans to offer an alternative to the west

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.

Read more:
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

China Telecom Gulf Officially Launches Operations in Saudi Arabia for Business Expansion

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China Telecom Gulf was launched in Riyadh, enhancing digital cooperation between China and Saudi Arabia under the “Belt and Road Initiative,” with a focus on technological innovation and infrastructure development.


China Telecom Gulf Launches in Riyadh

On November 21, 2024, China Telecom Gulf was officially inaugurated in Riyadh, symbolizing a significant advancement in China Telecom’s internationalization efforts and commitment to the "Belt and Road Initiative." The event was attended by over 100 dignitaries, including Mr. Liu Guiqing, Executive Director of China Telecom Corporation, and Mr. Fawaz from the Industrial and Commercial Bank of China Riyadh Branch, marking a milestone in fostering a shared future between China and Arab nations.

Commitment to Digital Transformation

In his speech, Mr. Liu highlighted China Telecom’s dedication to collaborating with Saudi enterprises and local governments to enhance digital infrastructure. By leveraging its expertise in technologies like 5G and artificial intelligence, the company aims to provide high-quality communication services, thereby driving socio-economic growth in the region.

Strategic Partnerships for Growth

During the launch, China Telecom Gulf signed strategic agreements with several prominent companies, including Saudi Telecom Company and Huawei. These collaborations are geared towards optimizing digital experiences for Saudi customers and contributing to the broader Sino-Saudi cooperation in technology and economic development, solidifying China Telecom’s role in the Middle Eastern telecom landscape.

Source : China Telecom Gulf Officially Launches in Saudi Arabia for Business

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India Initiates a Shift in Security Focus Regarding China Amid Economic Ambitions

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Since 2014, India’s Modi government aimed to boost manufacturing through the Make-in-India campaign. However, tensions with China led to increased scrutiny of Chinese investments post-COVID-19, limiting their influence.


Modi’s Manufacturing Push

Since Narendra Modi took office in 2014, his administration has focused on boosting the manufacturing sector’s contribution to India’s GDP. The launch of the Make-in-India campaign aimed to enhance manufacturing capabilities and attract foreign direct investment (FDI), even in sensitive sectors such as defense and railways, thereby fostering economic growth.

Shift in Economic Relations

During this period, Chinese companies like Oppo and ZTE sought to capitalize on India’s manufacturing potential. However, the 2020 COVID-19 pandemic highlighted the need for safeguard measures against potential foreign takeovers. In response, India revised its FDI policy to increase scrutiny on investments from neighboring countries, particularly targeting Chinese investments, which now require governmental approval.

Geopolitical Tensions and FDI Impact

Tensions escalated after the June 2020 Galwan clash, severely straining Indo-China relations. This ongoing border standoff has posed challenges to the evolving dynamics between the two nations. As a result of these geopolitical tensions and pandemic-era policies, Chinese capital inflow to India constituted merely 0.43% of the total FDI from April 2000 to December 2021, highlighting a significant downturn in bilateral economic ties.

Source : India begins a rebalance of security concerns over China and economic aspirations

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BRICS: China Classifies Crypto as Property and Prohibits Business Ownership

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China’s Shanghai court ruled cryptocurrencies are property, boosting optimism in the crypto industry while maintaining a ban on business transactions. This may signal a shift in future regulations.


China’s Ruling on Cryptocurrency

In a pivotal decision for the nation and its BRICS alliance, China has officially classified cryptocurrency as property while maintaining prohibitions against business transactions involving digital assets. A notable ruling from the Shanghai Songjiant People’s Court affirmed cryptocurrencies as property, sparking optimism within the crypto industry regarding future regulations.

Implications for the Crypto Industry

As cryptocurrencies gain significance globally, the Chinese ruling is viewed as a potential-positive shift amidst ongoing restrictions. While individuals can hold virtual currency, businesses remain barred from engaging in investment transactions or issuing tokens independently. This decision has generated anticipation for more accommodating regulations in the future.

Future Prospects for Cryptocurrency in China

Experts like Max Keiser believe this ruling indicates China’s growing acknowledgment of Bitcoin’s influence. As BRICS nations explore increased cryptocurrency utilization in trade, this legal shift could enhance market demand and lead to greater acceptance of cryptocurrencies as a legitimate asset class, setting the stage for potential developments in 2025.

Source : BRICS: China Rules Crypto as Property, Bars Business Holdings

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