One of the most important developments of the decade of 2000s was the rapid growth of China’s trade, investment, and official financial flows to Africa. Although there was a tremendous growth in China’s trade and investment links with the African continent, the most striking feature of the China–Africa relationship was Chinese finance for infrastructure development. China committed nearly US $153 billion to African public sector borrowers between 2000 and 2019. Chinese finance to Africa was predominantly channeled through the China Development Bank and the China EXIM Bank, and Chinese companies built vital infrastructure including roads, railways, ports, etc.
Top US General Mark Milley has called China’s recent hypersonic missile test “very close” to a Sputnik moment.
The chairman of the Joint Chiefs of Staff in an interview with Bloomberg TV called “the test of a hypersonic weapon system” – first reported by the Financial Times last week – a “very significant technological event that occurred”.
A pair of reports in the Financial Times have set the defence community abuzz with the suggestion that China has tested a new hypersonic glide vehicle, possibly with a fractional orbital bombardment system, or FOBS. Two possible tests—one potentially as early as 27 July and a second on 13 August—involved a Chinese Long March 2C orbital launch vehicle blasting off and flying a south polar trajectory into low-earth orbit. The rocket released a hypersonic glide vehicle that circled the globe in low polar orbit before de-orbiting and landing several kilometres from its target. China claims that it was a test of a spaceplane under its Tengyun program, but the nominated date of 16 July doesn’t match up with the launch activity observed later that month and in August.
The spectre of Donald Trump stalks Joe Biden’s White House and other corridors of power in Washington.
A recent Iowa poll showed that Trump would win the state comfortably if a poll were held now, despite a disapproval rating of 99 per cent among Democrats. Trump’s popularity there is higher now than when he was President.
The Trumpian legacy animating Biden’s trade policy was also on full display in a recent headline speech by US Trade Representative Katherine Tai. On 4 October, Tai presented the findings of the administration’s comprehensive review of the US–China trade relationship.
For the first time in four years, the US President took part in a virtual summit with leaders of the Association of Southeast Asian Nations (ASEAN) on Tuesday. But the meeting has been widely viewed as the latest move in Washington’s attempt to cajole the bloc back into its containment campaign against China.
Chinese companies operating in Sudan are facing a sudden and unexpected suspension of work and production, and they’ve summoned their workers to their base offices in response to the escalating situation in the country Monday.
Tension and risks of uncertainty linger, especially after the cut-offs of internet service and mobile networks, as well as a reported backlog of containers at Port Sudan. Analysts said that the potential disruption to Chinese businesses could be big.
Shanghai will push forward a digital yuan pilot program, which will cover a number of sectors including offline and online payment and public transport, in order to promote the development of new financial technology, according to the five-year development plan for digital transformation released by the Shanghai government.
The growth rate of industrial profits for Chinese enterprises above a designated size accelerated in September, as profits of industrial enterprises maintained a strong growth trend over the third quarter with over 70 percent of the industries exceeding their pre-epidemic profit levels, the National Bureau of Statistics (NBS) revealed on Wednesday.
Former US ambassador to China J. Stapleton Roy said that the situation in the Taiwan Straits has reached a dangerous level, and the US should take action to make China confident that the US supports the “one-China policy,” as he is concerned that the two countries are facing the worst situation since they established diplomatic ties 42 years ago.