Modi only world statesman to stand up to China: Top US expert

November 18, 2017

New Delhi, Nov 18: Prime Minister Narendra Modi is the only world statesman to have stood up to China and their Belt and Road Initiative, even though the US has been silent on the ambitious project till recently, a top American expert on China has said.

During a Congressional hearing, Michael Pillsbury, Director of Center on Chinese Strategy at the prestigious think-tank Hudson Institute, told lawmakers on Friday that PM Modi and his team have been quite outspoken against Chinese President Xi Jinping's ambitious project.

"The only statesman in the world who stood up to it yet is Prime Minister Modi. He and his team have been quite outspoken, partly because the Belt and Road Initiative includes violation of Indian sovereign claims," Pillsbury said.

"But the US government, until now and this is a five-year-old initiative if you count the early part of it, has been silent," he said.

Praising the Trump administration for its new Indo-Pacific strategy, the former Pentagon official said in recent days people have heard more than 50 times by members of the Trump administration including the president himself mentioning a "free and open" Indo-Pacific region.

"The Chinese have already attacked this. They don't like it," said Pillsbury, who is considered an authority on China-related issues.

"The Indians, fairly recently, were joking about we want to make the Indian Ocean the Indian Ocean, by which they meant the purchase of several billion dollars worth of American PA aircraft, which have weapon systems in the back that can sink ships, frankly, and other improvements including maritime situational awareness and a big new center in Delhi where the Indians can keep track of both blue holes and grey holes going through the Indian Ocean," he said.

"The Chinese are very angry about this. They have criticised the Obama administration for its effort to, as they say, boost India, to a higher rank order in comprehensive power than the Chinese believe India deserves," the top American expert on China said in response to a question.

Senator Ed Markey said China's signature Belt and Road Initiative that aims to position China as the uncontested leading power in Asia "may further coerce" and bully its neighbours through loans they cannot repay.

The Belt and Road Initiative aimed at building a vast network of infrastructure projects expanding China's expertise and capital to different parts of the world includes $50 billion China Pakistan Economic Corridor or CPEC over which India has protested as it passes through Pakistan-occupied-Kashmir or PoK.

India boycotted the Belt and Road Forum (BRF) organised by China in May this year to highlight its concerns over Beijing trying to push projects through PoK.

Speaking about alleged theft by China, he said the US companies face the threat of intellectual property theft with reports that China has been stealing cutting-edge research as well as sensitive trade secrets from the United States. And that includes companies working in the clean energy sector who cannot compete with state-backed firms.

Pillsbury also said the Chinese are offering low-interest loans to countries that cannot afford it. "We already saw the example of Sri Lanka, which fell behind in its payments and then was the subject of coercion that if you transfer the main port here in Sri Lanka to Chinese control, we will forgive the debt. The Sri Lankans did it," he said.

There were serious concerns of debt burden brought in by the Belt and Road Initiative projects after Sri Lanka opted for the long-term lease of its Hambantota port for a $1.12 billion debt swap. "...So we are beginning to see what the Belt and Road Initiative may mean," Pillsbury told the lawmakers.

Senator Markey said China is challenging the very underpinnings of the global order that has brought peace and prosperity. China has not lived up to its international obligations to help de-nuclearise the Korean Peninsula, he said.

"No country has greater leverage than China, which is responsible for approximately 90 percent of North Korean trade," he noted.

Markey said, "China is challenging the international system elsewhere as well. It was constructed in violation of international law, military bases on artificial islands and disputed areas of the South China Sea."

"Through economic coercion, Beijing undermined the sovereignty of its smaller neighbours and countries including South Korea and the Philippines face Chinese retaliation for taking legal and sovereign actions in their own defence," he said.

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News Network
March 13,2020

Mar 13: Canadian Prime Minister Justin Trudeau and his wife announced they were self-isolating Thursday as she undergoes tests for the new coronavirus after returning from a speaking engagement with "mild flu-like symptoms."

Sophie Gregoire-Trudeau's symptoms have subsided since she recently got back from Britain, but as a precaution the prime minister "will spend the day in briefings, phone calls and virtual meetings from home," according to a statement.

Trudeau also cancelled a meeting Thursday and Friday with Canada's provincial and territorial leaders in Ottawa, but still planned to speak with them and world leaders by phone about measures being taken to curb the spread of the virus in Canada.

Gregoire-Trudeau's symptoms had included "a low fever late last night." She immediately sought medical advice and testing.

Trudeau has exhibited no symptoms, and was advised by doctors "to continue daily activities while self-monitoring."

"However, out of an abundance of caution, the prime minister is opting to self-isolate and work from home until receiving Sophie's results," said his office.

Since the novel coronavirus first emerged in late December 2019, 127,070 cases have been recorded in 115 countries and territories, killing 4,687 people, according to an AFP tally compiled at 1200 GMT on Thursday based on official sources.

Canada has so far reported more than 100 cases in six provinces, and one death.

Also Thursday, the Canada's Juno music awards cancelled its upcoming gala show, planned for Sunday evening in Saskatoon, Saskatchewan.

"We are devastated to cancel this national celebration of music, but at this time of global uncertainty, the health, safety and well-being of all Canadians must stand at the forefront of any decisions that impact our communities," organisers said in a statement.

And in Quebec province, Premier Francois Legault unveiled a series of measures to prevent the spread of the coronavirus, including placing all travellers returning from overseas under quarantine for two weeks.

Quebec also banned indoor gatherings of more than 250 people.

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Agencies
March 1,2020

Washington, Mar 1: Beginning April 1, Indians wishing to immigrate to America will now have to pay an additional $50,000 for the EB-5 or the US investor visa, a media report said.

Although, this additional tax would impact all visa categories, it will predominantly create a barrier for people investing in the EB-5 visa programme, the American Bazaar daily said in the report on Friday.

In 2019, the EB-5 investor visa programme, for the first time since the 1990's, increased the minimum investment amount to $900,000.

With this increase in minimum investment, the new 5 per cent additional tax would mean that applicants would have to pay the extra $50,000, when they move money to an escrow account in the US to fulfil their application criterion.

"The changes to the tax on remittances is a reminder to Indians to carefully plan their tax position before making the move to the US," the American Bazaar quoted Mark Davies, Global Chairman, Davies & Associates LLC, as saying.

"People seeking to emigrate who do not wish to pay this tax at source and rather account for it later may wish to move their money ahead of the new rules coming into effect.

"It is possible to pre-emptively move money into an escrow account in the US until such a time as they are ready to proceed with emigration process," he added.

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News Network
April 13,2020

Vienna, Apr 13: Top oil-producing countries agreed on "historic" output cuts to prop up prices hammered by the coronavirus crisis and a Russia-Saudi price war, sending crude prices soaring on Monday.

The US benchmark WTI climbed 7.7 percent to $24.52 a barrel in early Asian trade while Brent was up 5.0 percent at $33.08.

OPEC producers dominated by Saudi Arabia and allies led by Russia thrashed out a compromise deal via videoconference Sunday after Mexico had balked at an earlier agreement struck on Friday.

In the compromise reached Sunday they agreed to a cut of 9.7 million barrels per day from May, according to Mexican Energy Minister Rocio Nahle, down slightly from 10 million barrels a day envisioned earlier.

OPEC Secretary General Mohammad Barkindo called the cuts "historic".

"They are largest in volume and the longest in duration, as they are planned to last for two years," he said.

The agreement between the Vienna-based Organization of the Petroleum Exporting Countries and partners foresees deep output cuts in May and June followed by a gradual reduction in cuts until April 2022.

Barkindo added that the deal "paved the way for a global alliance with the participation of the G20".

Saudi Energy Minister Prince Abdulaziz bin Salman, who chaired the meeting together with his Russian and Algerian counterparts, also confirmed that the discussions "ended with consensus".

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