Modi's demonetisation move 'gamble', will set precedent: Chinese media

November 26, 2016

Beijing, Nov 26: Terming Prime Minister Narendra Modi's demonetisation move as "very bold", China's official media today said it was a "gamble" that would create a precedent irrespective of whether it succeeds or fails and China will draw lessons from its impact on corruption.

modi1"Modi's move is very bold. We cannot imagine what would happen in China if the country bans its 50 and 100 yuan notes," said an editorial in the state-run Global Times titled 'Modi takes a gamble with money reform'. 100 yuan is China's highest currency note.

"To prevent a leak of information jeopardising the implementation of the demonetisation reform, the roll out of the plan had to be kept confidential. Modi is in a dilemma as the reform aims to render the black money useless but the process goes against the governance principle of winning support of the public before initiating a new policy," the editorial said.

"As more than 90 per cent of transactions in India are made with cash, banning 85 per cent of the currency in circulation brings a lot of trouble to people's daily life" sparking fierce criticism including from "former Prime Minister Manmohan Singh who termed it as organised loot", it said.

"Demonetisation can crackdown on corruption and shadow economy but it is obviously unable to solve the deeper social and political issues that help breed the aforementioned problems," the editorial said.

However, it stated that as far as the root causes of corruption exist, the problems will always resurface. "In other words, the Modi government wishes to turn a long and arduous reform into a one-off deal," it said.

"Demonetisation is a gamble for Modi. He bet on both the execution ability of the government and the tolerance level of the Indian society, hoping that the benefits of this reform can outrun the negative social impacts and low morale," the editorial said.

It asserted that the "Western-style" democratic system of India allows little room for such bold moves.

"However, he is really carrying it out, and will create a precedent no matter he succeeds or fails," it said. "Reform is always difficult and requires more than just courage. Modi's demonetisation came with good intention but whether it can succeed depends on the efficiency of the system and the cooperation of the entire society. More and more people are growing pessimistic about the ability of Modi's government to control the process," the editorial said.

Noting that China's reform and opening-up has been going on for nearly 40 years, the editorial said it had ups and downs but remained largely stable. "Its success is based on broad public support," it said.

"The strong execution capabilities of the Communist Party of China are built on the consensus of the entire country. By observing India's reforms we will draw lessons, which would in turn help us understand our own reforms," it said.

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News Network
February 19,2020

Beijing, Feb 19: The death count from China's new coronavirus epidemic jumped to 2,000 on Wednesday after 132 more people died in Hubei province, the hard-hit epicentre of the outbreak.

In its daily update, the province's health commission also reported 1,693 new cases of people infected with the virus.

This brings the total number of cases in mainland China past 74,000.

Most of the cases are in Hubei, where the virus first emerged in December before spiralling into a nationwide epidemic.

Wednesday's jump in the death count was an increase on Tuesday's figures, although the number of new cases reported in Hubei were the lowest for a week.

A study released by Chinese officials claimed most patients have mild cases of the illness.

Outside of hardest-hit Hubei, which has been effectively locked down to try to contain the virus, the number of new cases has been slowing and China's national health authority has said this is a sign the outbreak is under control.

President Xi Jinping, in a phone call with the British prime minister, said China's measures were achieving "visible progress", according to state media Tuesday.

However, the World Health Organization has cautioned that it was too early to tell if the decline would continue.

On Tuesday the director of a hospital in the central Hubei city of Wuhan became the seventh medical worker to succumb to the COVID-19 illness.

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News Network
June 27,2020

LGeneva, Jun 27:: The number of confirmed coronavirus cases worldwide has risen by over 177,000 in the past 24 hours to 9.4 million and the death toll has topped 480,000, the World Health Organisation (WHO) said on Friday (local time).

On Thursday, the WHO reported 167,056 new cases and 5,336 related deaths.

The fresh daily situation report estimates the number of infections confirmed in the past 24 hours at 177,012. Further, 5,116 virus-related deaths were reported over the same period, taking the toll to 484,249.

The Americas lead the count with over 4.7 million cases, followed by Europe with more than 2.6 million.

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News Network
May 6,2020

Washington, May 6: The Chinese Army is indulging in aggressive behaviour in the South China Sea and the Chinese Communist Party has ramped up its disinformation campaign to try to shift the blame on coronavirus and burnish its image, US Defense Secretary Mark Esper said on Tuesday.

"While the Chinese Communist Party ramps up its disinformation campaign to try to shift blame and burnish its image, we continue to see aggressive behaviour by the PLA in the South China Sea, from threatening a Philippine Navy ship to sinking a Vietnamese fishing boat and intimidating other nations from engaging in offshore oil and gas development," Esper told reporters at a Pentagon news conference.

Last week, two US Navy ships conducted freedom of navigation operations in the South China Sea to send a clear message to Beijing that America will continue to protect the freedom of navigation and commerce for all nations large and small, he said.

Many countries, Esper said, have turned inward to recover from the pandemic and in the meantime, America's strategic competitors are attempting to exploit this crisis to their benefit at the expense of others.

Responding to a question, he said the Chinese have not been transparent from the beginning on the coronavirus pandemic.

"If they had been more transparent, more open, upfront in terms of giving us access, the reporting, giving us access not to the people on the ground but to the virus they had so we could understand it, we would probably be in a far different place right now. But where we are now is this," Esper said.

China needs to allow the United States in to talk to early patients, Chinese researchers and scientists, and to have access, he added.

Instead, Esper alleged that the Chinese are trying to capitalise on this by promoting their own image that somehow, China is the good guy here.

"Despite everything they did or, more importantly, failed to do, now they want to go out and say well, here's masks. We will give you masks, provide this, or provide that, we will provide you funding. Look at all the good things we are doing," he said.

"Yet, what we know is that they provide masks, they provide supplies. In many cases, it is not good. It does not do what it is supposed to do. It is broken equipment. Also, the strings attached are enormous in many cases. So, they are telling a country you can take these masks, but please, put out publicly how good China is, how great we are doing, et cetera, et cetera," Esper said.

"So there is a number of things they are doing to try and burnish their image. That is just two of them right there," he said.

The Chinese are also doing a lot of strong-arming behind the scenes, Esper said and referred to the war of words between China and Australia. He said he plans to talk to his Australian counterpart later in the day.

"All these activities are going on. It is straight from the Chinese playbook. Once again, it is just a little bit more obvious this time with what they are doing and how they are using a combination of compelling and coercion and everything else to try and shape the narrative and burnish the image of the Chinese Communist Party," Esper said.

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