Indian Elephant and Chinese Dragon Must Dance Together, Not Fight Each Other: China

Agencies
March 8, 2018

Beijing, Mar 8:  The Chinese dragon and Indian elephant must not fight but dance with each other, China's Foreign Minister Wang Yi said today as he called on the two nations to shed mental inhibitions, manage differences and meet each other half way to enhance bilateral ties.

Mr Wang's remarks came during his annual press conference on the sidelines of the parliamentary session.

Asked how China views relations with India this year after turbulence in ties in 2017 due to a number of issues including the Doklam standoff, Mr Wang said, "Despite some tests and difficulties, the China-India relationship continues to grow".

Bilateral ties were affected by a number of issues last year, including the China-Pakistan Economic Corridor which passes through Pakistan-occupied Kashmir, China blocking efforts at the United Nations to list terror group Jaish-e-Mohammed chief Masood Azhar as a global terrorist as well as India's entry into the Nuclear Suppliers Group or NSG.

Troops of India and China were locked in a 73-day-long standoff in Doklam in the Sikkim sector. The standoff ended on August 28 after the Chinese military stopped the illegal construction of a road close to India's strategic 'chicken's neck' corridor connecting the northeastern states to the rest of the country.

Mr Wang, however, said the two countries must shed mental inhibitions, manage differences and meet each other half way.

"China is upholding its rights and legitimate interests and taking care to preserve the relationship with India," he said.

"Chinese and Indian leaders have developed a strategic vision for the future of our relations. The Chinese dragon and Indian elephant must not fight each other but dance with each other," he said.

"If China and India are united, one plus one will become eleven instead of two," he said.

Speaking for the first time on bilateral ties this year, Mr Wang said the international situation is experiencing its biggest change in a century and China and India must do everything to emphasise this and support each other and avoid mutual suspicion and attrition.

He said mutual trust is the most precious commodity in the China-India relations.

"With political trust, not even the Himalayas can stop us from friendly exchanges," he said.

"A shared understanding far outstrip our differences. Our common interests far outweigh our frictions. China is willing and ready to inherit and take forward our traditional friendship and be a friend and partner of the Indian people."

"I hope the two sides will be free from mental inhibitions and meet each other halfway. Let us replace suspicion with trust, manage differences with dialogue and build a future with cooperation," he said.

Mr Wang reacted strongly to a question whether the Indo-Pacific strategy being furthered by India, the US, Japan and Australia will affect China's Belt and Road Initiative (BRI).

He said there was "no shortage of headline grabbing ideas" but they were "like the foam on the sea" that "gets attention but will soon dissipate".

Contrary to claims made by some academics and media outlets that the strategy is aimed at containing China, the four countries have made it clear that it targets no one, Mr Wang said. "I hope they mean what they say," he said.

"Let us not forget that the Belt and Road Initiative has received the support of over 100 countries. Nowadays stroking a new Cold War is out of sync with the times and inciting confrontation will find no market," he said.

Touted as Chinese President Xi Jinping's ambitious project, the Belt and Road Initiative focuses on improving connectivity and cooperation among Asian countries, Africa, China and Europe.

The Belt and Road Initiative also includes the China-Pakistan Economic Corridor or CPEC which India strongly opposes as it passes through Pakistan-occupied Kashmir.

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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
August 8,2020

Washington, Aug 8: The United States has reported 58,173 new coronavirus cases on Friday, bringing the total past 4.9 million, according to Johns Hopkins University.

"The first case of COVID-19 in the US was reported 198 days ago on 22.01.2020.Yesterday, the country reported 58,173 new confirmed cases and 1,243 deaths," it said.

The country is expected to cross the 5 million thresholds in the coming days. It leads the world both in terms of coronavirus cases and deaths estimated at over 161,300.

Overall, there have been 19.4 million cases confirmed globally and almost 721,800 people have died from virus-related complications. Another 11.7 million have recovered.

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News Network
April 12,2020

London, Apr 12: British Prime Minister Boris Johnson has thanked the medics and staff of the state-funded National Health Service (NHS) for saving his life after he tested positive for the coronavirus, saying he owed them his life.

In his first public statement since being moved out of the intensive care at St. Thomas’ Hospital in London on Saturday, the 55-year-old Johnson said, “I can't thank them enough, I owe them my life.”

Downing Street has said that Johnson, who completes a week in hospital on Sunday after being shifted there with persistent COVID-19 symptoms, continues to make “very good progress” while on the ward.

Coronavirus India update: State-wise total number of confirmed cases, deaths on April 12

He has been able to take short walks as his doctors monitor his recovery after being moved out of the intensive care and has been watching films and doing puzzles in his hospital bed.

Johnson's fiancee Carrie Symonds, who is pregnant with their first child, is said to have sent him letters and baby scans to lift his spirits during his time in the hospital.

Thousands of get-well-soon cards have also poured in for the prime minister since he went into self-isolation after testing positive for coronavirus over two weeks ago.

Asked about plans for his return to work, UK Home Secretary Priti Patel said on Saturday that the UK PM needed "time and space to rest, recuperate and recover".

The Indian-origin Cabinet minister, who led the daily Downing Street update on the pandemic on Saturday, revealed that the UK had recorded 917 new coronavirus deaths, taking the total deaths in the country to 9,875.

According to the Johns Hopkins University data, the country has nearly 80,000 coronavirus cases.

Patel urged people to stay at home over the Easter weekend to curb the spread of the virus, despite warm and sunny weather across parts of the UK.

“We have given the police powers to enforce the necessary measures we have put in place, including through enforcement fines," said Patel.

"If you don't play your part... our selfless police will be unafraid to act. You will be endangering the lives of your own family, friends and loved ones," she said.

Meanwhile, an Easter message posted on the official 10 Downing Street Twitter account on behalf of the prime minister also urged people to stay at home to save lives.

It read: “Wishing everyone a very happy Easter from Downing Street.

“This year across the country churches will remain closed, and families will spend the day apart. But by staying home, remember, you are protecting the NHS and saving lives.” 

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