Politics
China, Canada and Oil Sands
Last week the Government of Canada kicked the CNOOC-Nexen can down the road for another 30 days, delaying the decision for up to a month after the statutory 45 day review period for the friendly takeover had elapsed. The government can make a decision within this 30 day extension or announce a further 30 day delay with CNOOC’s agreement. Meanwhile, Nexen shareholders overwhelmingly approved the deal, which is not surprising given the premium that state owned CNOOC is willing to pay. If this is such a good deal for Nexen’s shareholders, and will allow CNOOC to further bring its deep pockets to the Canadian oil patch, then why the delay? CNOOC’s bid poses a bit of a conundrum for Prime Minister Stephen Harper’s government
Last week the Government of Canada kicked the CNOOC-Nexen can down the road for another 30 days, delaying the decision for up to a month after the statutory 45 day review period for the friendly takeover had elapsed. The government can make a decision within this 30 day extension or announce a further 30 day delay with CNOOC’s agreement. Meanwhile, Nexen shareholders overwhelmingly approved the deal, which is not surprising given the premium that state owned CNOOC is willing to pay. If this is such a good deal for Nexen’s shareholders, and will allow CNOOC to further bring its deep pockets to the Canadian oil patch, then why the delay? CNOOC’s bid poses a bit of a conundrum for Prime Minister Stephen Harper’s government
Politics
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.
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
Decades of astonishing economic growth have given China new tools for extending its influence abroad and achieving its political goals.
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