China will never permit loss of ‘any piece’ of land, says Xi

Agencies
August 1, 2017

Beijing, Aug 1: Chinese President Xi Jinping issued a tough line on national sovereignty on Tuesday amid multiple territorial disputes with his country’s neighbors, saying China will never permit the loss of “any piece” of its land to outsiders.

Mr. Xi’s declaration came during a nearly one-hour speech in Beijing marking the 90th anniversary of the founding of the People’s Liberation Army, which has formed a key pillar of support for the ruling Communist Party since 1927 and is the world’s largest standing military, with 2.3 million members.

“The Chinese people treasure peace and we absolutely do not engage in invasion and expansion. However, we have the confidence to conquer all forms of invasion,” Mr. Xi told government leaders and current and retired PLA members gathered at the hulking Great Hall of the People, the seat of the legislature that sits beside Tiananmen Square.

“We absolutely will not permit any person, any organization, any political party at any time, in any form to separate any piece of Chinese territory from China,” Mr. Xi said to applause. “No one should expect us to swallow the bitter fruit of damage to our sovereignty, security and development interests.”

Mr. Xi made no reference to any specific conflicts or disputes during his address, which focused largely on the PLA’s growth from a scrappy guerrilla force fighting Chiang Kai-shek’s Nationalists and Japanese invaders into one of the world’s most powerful, if largely untested, militaries.

China has long been embroiled in a contest with Japan over the East China Sea islands, as well as with five other governments over competing claims to territory in the strategically vital South China Sea. Beijing also threatens to use force to conquer Taiwan if peaceful enticements prove insufficient. China considers the self-governing democratic island its territory.

Mr. Xi also emphasized that the military’s highest loyalty is to the ruling Communist Party, underscoring the PLA’s key role as regime preserver through crises such as the bloody suppression of 1989 pro-democracy protests at Tiananmen Square. Top Chinese leaders have consistently rejected calls to make the PLA loyal to the government and people instead.

“The people’s army will resolutely safeguard the leadership of the Chinese Communist Party and our country’s socialist system, resolutely safeguard national sovereignty, security and development interests, and resolutely safeguard regional and world peace,” Mr. Xi said.

The speech followed a parade on Sunday at a training ground on the edge of the Gobi Desert during which Mr. Xi donned fatigues and declared that the military has the “confidence and capability” to ensure China’s sovereignty, security and national interests.

Mr. Xi, who commands the PLA as chairman of the Central Military Commission, has frequently spoken of his “China Dream” to restore China to a leadership position in international affairs with a modern, far-reaching military force to match.

The parade at the Zhurihe base in Inner Mongolia featured troops and advanced weaponry, and was another forceful indication of Mr. Xi’s iron grip over the PLA and every other political power base within the party ahead of a pivotal congress this autumn that will award him a second five-year term as leader.

That followed similarly high-profile military reviews in Beijing in 2015 and Hong Kong in June. Last week, Mr. Xi bestowed newly created “Aug. 1” honors on servicemen in a further elevation of the armed forces’ stature.

Mr. Xi and his predecessors engineered a radical upgrading of the PLA’s capabilities through years of double-digit percentage increases in the defense budget, making China the world’s second-largest military spender after the United States, although growth has slowed alongside a cooling of the overall economy.

That has also spurred a global role for the PLA, which was formerly overwhelmingly preoccupied with securing China’s territorial integrity.

Alongside its blue water navy, China is building its first overseas military base in the Horn of Africa nation of Djibouti, and Chinese ships held drills last month with Russia’s navy in the Baltic Sea, more than 10,000 km (6,000 miles) from their home ports.

 

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News Network
July 27,2020

Tokyo, Jul 27: Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe-haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 percent as Taiwan's TSMC, Asia's third-largest company by market capitalisation, rose almost 10 percent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7-nanometer chip technology.

Also soothing sentiment, Chinese shares eked out gains after big falls late last week, with CSI300 index rising 0.5 percent.

S&P500 futures were last up 0.4 percent in choppy trade while Japan's Nikkei fell 0.5 percent, resuming trade after a long weekend and catching up with falls in global shares late last week.

Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Gold rose 1.0 percent to a record high of $1,920.9 per ounce, surpassing a peak touched in September 2011, as Sino-US tensions boosted the allure of safe-haven assets, especially those not tied to any specific country.

The yellow metal is also helped by aggressive monetary easing adopted by many central banks around the world since the pandemic plunged the global economy into a recession.

Some investors fret such an unprecedented level of money-printing could eventually lead to inflation.

MORE STIMULUS

Hopes of a quick US economic recovery are fading as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of the stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70 percent "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

"It looks like rising coronavirus cases are starting to slow down recovery in many countries," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index dropped 0.3 percent to its lowest level in nearly two years.

The euro gained 0.3 percent to $1.1693, hitting a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low while the British pound hit a 4 1/2-month high of $1.2832.

Oil prices dipped on worries about the worsening Sino-US relations.

Brent futures fell 0.46 percent to $43.14 per barrel while US crude futures lost 0.44 percent to $41.11.

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Agencies
May 31,2020

Washington, May 31: US President Donald Trump said Saturday he will delay the G7 summit scheduled to take place in June and invite other countries -- including India and Russia -- to join the meeting.

"I don't feel that as a G7 it properly represents what's going on in the world. It's a very outdated group of countries," Trump told reporters on Air Force One.

He said he would like to invite Russia, South Korea, Australia and India to join an expanded summit in the fall.

It could happen in September, either before or after the UN General Assembly, Trump said, adding that "maybe I'll do it after the election."

Americans head to the polls in early November to choose a new president, with Trump keen for a return to normalcy after the coronavirus pandemic and a healthy economy as voters cast their ballots.

Describing the event as a "G-10 or G-11", Trump said he had "roughly" broached the topic with leaders of the four other countries.

Leaders from the Group of Seven, which the United States heads this year, had been scheduled to meet by videoconference in late June after COVID-19 scuttled plans to gather in-person at Camp David, the US presidential retreat outside Washington.

Trump created suspense last week, however, when he announced that he might hold the huge gathering in-person after all, "primarily at the White House" but also potentially parts of it at Camp David.

German Chancellor Angela Merkel became the first leader to decline the in-person invitation outright.

"Considering the overall pandemic situation, she cannot agree to her personal participation, to a journey to Washington," her spokesman said Saturday.

Her response followed ambivalent to positive reactions to the invitation from Britain, Canada and France.

The 65-year-old chancellor is the oldest G7 leader after Trump, who is 73. Japan's Shinzo Abe, also 65, is several months younger than Merkel. Their age puts them at higher risk from the coronavirus.

The G7 major advanced countries -- Britain, Canada, France, Germany, Italy, Japan and the United States -- hold annual meetings to discuss international economic coordination.

Russia was thrown out of what was the G8 in 2014 after it seized Ukraine's Black Sea peninsula of Crimea, an annexation never recognized by the international community.

The work of the G7 is now more important than ever as countries struggle to repair coronavirus-inflicted damage.

The White House had previously said the huge diplomatic gathering would be a "show of strength" when world economies are gradually reemerging from shutdowns.

The United States is the worst-hit country for COVID-19 infections, recording more than 1.7 million cases and over 103,680 deaths.

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News Network
February 22,2020

Feb 22: A 20-year-old Chinese woman from Wuhan, the epicentre of the coronavirus outbreak, travelled 400 miles(675 km) north to Anyang where she infected five relatives, without ever showing signs of infection, Chinese scientists reported on Friday, offering new evidence that the virus can be spread asymptomatically.

The case study, published in the Journal of the American Medical Association, offered clues about how the coronavirus is spreading, and suggested why it may be difficult to stop.

"Scientists have been asking if you can have this infection and not be ill? The answer is apparently, yes," said Dr. William Schaffner, an infectious disease expert at Vanderbilt University Medical Center, who was not involved in the study.

China has reported a total of 75,567 cases of the virus known as COVID-19 to the World Health Organization (WHO) including 2,239 deaths, and the virus has already spread to 26 countries and territories outside of mainland China.

Researchers have reported sporadic accounts of individuals without any symptoms spreading the virus. What's different in this study is that it offers a natural lab experiment of sorts, Schaffner said.

"You had this patient from Wuhan where the virus is, travelling to where the virus wasn't. She remained asymptomatic and infected a bunch of family members and you had a group of physicians who immediately seized on the moment and tested everyone."

According to the report by Dr Meiyun Wang of the People's Hospital of Zhengzhou University and colleagues, the woman travelled from Wuhan to Anyang on Jan. 10 and visited several relatives. When they started getting sick, doctors isolated the woman and tested her for coronavirus. Initially, the young woman tested negative for the virus, but a follow-up test was positive.

All five of her relatives developed COVID-19 pneumonia, but as of Feb. 11, the young woman still had not developed any symptoms, her chest CT remained normal and she had no fever, stomach or respiratory symptoms, such as cough or sore throat.

Scientists in the study said if the findings are replicated, "the prevention of COVID-19 infection could prove challenging."

Key questions now, Schaffner said, are how often does this kind of transmission occur and when during the asymptomatic period does a person test positive for the virus.

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