India using Kashmir to oppose Silk Road project: Chinese media

March 30, 2017

Beijing, Mar 30: India sees China's Silk Road initiative as a geopolitical competition and is using the Kashmir issue as an "unfounded excuse" to oppose the ambitious project, Chinese state media today alleged and asked New Delhi to "abandon" its "cliche mentality".

"The official reason the Indian government rejected the offer to join the initiative (Silk Road) is that it is designed to pass through Kashmir. However, it is just an unfounded excuse as Beijing has been maintaining a consistent position on the Kashmir issue, which has never changed," one of the two articles on India by state-run Global Times said.

China1"India sees the Belt and Road initiative as a geopolitical competition," the article said, criticising India for hindering Beijing's push into South Asia and the world with multi-billion Silk Road project which is also known as the 'Belt and Road' (BR).

"Whether to continue to boycott or join the Belt and Road remains a conundrum for New Delhi," it said adding that, India is the only one which can help itself. The article said that India should give up its "biased" view on the BR initiative. "It is high time to abandon the cliche mentality of associating everything with geopolitics.

India will surely see a different world if it does," the article said. Referring to India's reservations to attend the BR summit called by Chinese President Xi Jinping, the article said it may be an "embarrassing occasion" for India as the meeting is backed by "China's peripheral countries, notably Russia, Indonesia, Kazakhstan and Pakistan".

Chinese Foreign Minister Wang Yi recently said 20 heads of state will attend the summit, together with over 50 leaders from international organisations, over 100 ministerial officials and more than 1,200 guests from around the world.

The article referred to a comment by Foreign Secretary S Jaishankar during his visit here last month to co-chair the upgraded India-China strategic dialogue, saying India is examining China's invitation to attend the summit and "how a country whose sovereignty has been violated can come on aninvitation".

In the meantime, however, state-run Chinese media stepped up campaign to pressurise India to join the summit. China apparently is keen about India's participation in the summit as the project struggled to make headway in the region except the USD 46 billion China Pakistan Economic Corridor (CPEC) where both Beijing-Islamabad are putting all efforts to show early harvest.

Media reports here said that Xi plans to invite his US counterpart Donald Trump to attend the meeting during their first summit early next month in Florida. BR consisted of maze of roads, including CPEC, Bangladesh-China-India-Myanmar Economic (BCIM) Corridor and 21st Maritime Silk Road besides road network to connect China with Eurasia.

The article also said, "it seems that the mainstream opinion throughout India is that the connectivity brought about by BR initiative is geopolitically significant. Therefore, India cannot allow the initiative to expand further into South Asia".

"This could also explain why the BCIM has seen no progress since its proposed by Chinese Premier Li Keqiang in 2013, and also why New Delhi has been keen on Japan's investment in the Iranian port of Chabahar," it said.

"New Delhi may also feel embarrassed as Moscow has actively responded to the Belt and Road initiative and will build an economic corridor with China and Mongolia," it said, adding Russia and Iran seeking to join the CPEC putting "India in a more awkward position".

It said, "Beijing has expressed, on various occasions, its anticipation to see New Delhi join the grand project and to make concerted effort with India in building economic corridors involving China, India, Sri Lanka, Nepal, Bangladesh and Myanmar".

Another article in the same daily said a "benign" competition between India and China may help development in South Asia but they should avoid "cut-throat" rivalry. "The so-called dragon-elephant contention is perhaps a blow against strategic mutual trust between Beijing and New Delhi, but may be conducive to development in South Asia," it said.

Accusing India of not being "generous" to its neighbours, it said "a yawning infrastructure funding gap in South Asian countries creates space for China and those nations to strengthen economic cooperation".

"Bangladesh and China signed 27 deals worth billions of dollars during President Xi Jinping's visit last year," it said, adding China's BR initiative has received an increasing amount of attention from Bangladesh.

"Only by investing more resources in regional integration and extending the benefits from India's rapid economic growth to other South Asian countries can New Delhi maintain its influence in the region," it said.

"Benign competition between China and India will be conducive to development in South Asia. The question remaining is how to avoid cut-throat competition as Beijing and New Delhi jostle for influence. India and China should seek common ground while strengthening cooperation with South Asian countries to promote regional integration," it said.

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Agencies
April 20,2020

Hong Kong, Apr 20: Oil prices collapsed to more than two-decade lows Monday as traders grow concerned that storage facilities are reaching their limits, while equities were mixed, with some support coming from signs that the coronavirus may have peaked in Europe and the United States.

US crude benchmark West Texas Intermediate briefly plunged almost 20 percent to below 15 -- its lowest since 1999 -- as stockpiles continue to build owing to a crash in demand caused by the COVID-19 pandemic.

Analysts said this month's agreement between top producers to slash output by 10 million barrels a day was having little impact on the oil crisis because of lockdowns and travel restrictions that are keeping billions of people at home.

WTI was hit particularly hard as its main US storage facilities in Cushing, Oklahoma, were filling up.

ANZ said "crude oil prices remained under pressure, as projections of weaker demand weigh on sentiment".

"Despite the OPEC+ alliance agreeing to an unprecedented cut in output, the physical market is awash with oil," it said, referring to the Organization of the Petroleum Exporting Countries and non-OPEC partners.

And AxiCorp's Stephen Innes added: "It's a dump at all cost as no one... wants delivery of oil, with Cushing storage facilities filling by the minute.

"It hasn't taken long for the market to recognise that the OPEC+ deal will not, in its present form, be enough to balance oil markets." Stock traders were in slightly more buoyant mood as governments start to consider how and when to ease lockdowns that have crippled the global economy.

Italy, Spain, France and Britain reported drops in daily death tolls and slowing infection rates.

"We are scoring points against the epidemic," said Prime Minister Edouard Philippe, while insisting "we are not out of the health crisis yet".

Meanwhile, in the US, Andrew Cuomo, governor of badly hit New York state, said the disease was "on the descent", though he cautioned it was "no time to get cocky".

Mounting evidence suggests that the lockdowns and social distancing are slowing the spread of the virus.

That has intensified planning in many countries to begin loosening curbs on movement and easing the crushing pressure on national economies.

Adding to the sense of hope was a report indicating promising research on a drug to treat coronavirus.

Hong Kong, Shanghai and Seoul were each up 0.1 percent, while Wellington added 0.4 percent.

However, Tokyo went into the break 0.9 percent lower, while Sydney and Manila dropped one percent apiece. There were also losses in Taipei, Singapore and Jakarta.

"The longer investors have to contemplate future economic issues while they wait for more countries to be on the downward slope of the pandemic curve, the more scope there is of risk assets pricing in a difficult future," Chris Iggo, of AXA Investment Managers UK, said.

Investors are keeping an eye on Washington, where Congress and the White House are working towards a 450 billion economic relief plan for small business to add to the trillions already pledged to support the economy.

Big-name companies including IBM, Netflix and Coca-Cola are due to deliver their earnings reports.

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News Network
February 10,2020

New Delhi, Feb 10: Former Jammu and Kashmir chief minister Omar Abdullah's sister on Monday moved the Supreme Court to challenge his detention under the Public Safety Act.

Senior advocate Kapil Sibal, appearing for the petitioner, mentioned the matter for urgent listing before a bench headed by Justice N V Ramana.

Sibal told the bench that they have filed a habeas corpus petition challenging the detention of Abdullah under the PSA and the matter should be heard this week.

The bench agreed for urgent listing of the matter.

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News Network
June 19,2020

London, Jun 19: Malala Yousafzai, the youngest Nobel Peace Prize winner who once took a bullet for campaigning for girls' education in Pakistan, was over the moon on Friday after completing her degree in Philosophy, Politics and Economics at Britain's prestigious Oxford University.

Malala, 22, who attended Oxford's Lady Margaret Hall college, took to Twitter to share two pictures that show her celebrating the milestone with her family.

"Hard to express my joy and gratitude right now as I completed my Philosophy, Politics and Economics degree at Oxford," she said in the tweet, accompanied by two pictures - one showing her sitting with her family in front of a cake that says: 'Happy Graduation Malala', and the other in which she is covered with cake smiling for the camera.

In the tweet, the famed human rights activist also revealed her plans for the immediate future - Netflix, reading and sleeping.

"I don't know what's ahead. For now, it will be Netflix, reading and sleep," she wrote.

Malala was shot in the head by the Taliban militants in December 2012 for campaigning for female education in the Swat Valley in northeastern Pakistan.

Severely wounded, she was airlifted from one military hospital in Pakistan to another and later flown to the UK for treatment.

After the attack, the Taliban released a statement saying that they would target Malala again if she survived.

At the age of 17, Malala became the youngest recipient of the Nobel Peace Prize for her education advocacy in 2014 when she shared the coveted honour with India's social activist Kailash Satyarthi.

Unable to return to Pakistan after her recovery, she moved to Britain, setting up the Malala Fund and supporting local education advocacy groups with a focus on Pakistan, Nigeria, Jordan, Syria and Kenya.

The Taliban, who are against girls' education, have destroyed many schools in Pakistan.

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