Third country's Army may enter Kashmir on behalf of Pak: China

Agencies
July 10, 2017

Beijing, Jul 10: A "third country's" Army could enter Kashmir at Pakistan's request, using the "same logic" the Indian Army used to stop the Chinese military from constructing a road in the Doklam area in the Sikkim sector on behalf of Bhutan, an analyst at a Chinese think tank said.

china"Even if India were requested to defend Bhutan's territory, this could only be limited to its established territory, not the disputed area," Long Xingchun, Director at the Centre for Indian Studies at China West Normal University, said in the article he wrote in the Global Times.

"Otherwise, under India's logic, if the Pakistani government requests, a third country's Army can enter the area disputed by India and Pakistan, including India-controlled Kashmir," the article said.

The Chinese state media have carried a barrage of critical articles on the Doklam standoff criticising India, but this was the first time Pakistan and Kashmir have been brought into the narrative.

"Indian troops invaded China's Doklam area in the name of helping Bhutan, but in fact the invasion was intended to help India by making use of Bhutan," it said, referring to the June 30 statement issued by India's External Affairs Ministry.

China and India have been engaged in a standoff in the Doklam area near the Bhutan tri-junction for the past three weeks after a Chinese Army's construction party attempted to build a road. Doka La is the Indian name for the region which Bhutan recognises as Doklam, while China claims it as part of its Donglang region. Of the 3,488-km-long India-China border from Jammu and Kashmir to Arunachal Pradesh, a 220-km section falls in Sikkim.

"For a long time, India has been talking about international equality and non-interference in the internal affairs of others, but it has pursued hegemonic diplomacy in South Asia, seriously violating the UN Charter and undermining the basic norms of international relations," it said.

"Through mass immigration to Sikkim, ultimately leading to control of the Sikkim parliament, India annexed Sikkim as one of its states," it alleged. "This incursion reflects that India fears China can quickly separate mainland India from northeast India through military means, dividing India into two pieces," it said.

"In this case, northeast India might take the opportunity to become independent. India has interpreted China's infrastructure construction in Tibet as having a geopolitical intention against India. India itself is unable to do the same for its northeastern part, so it is trying to stop China's road construction," it said.

"India's incursion, based on its own strategic judgment, is a clear violation of international law," the article said, claiming that the western countries will not unconditionally support India as they have a wide range of "common interests" with China. "As for the territorial dispute between China and Bhutan, it should be resolved by both sides and India must respect Bhutan's sovereignty," it said.

"China can show the region and the international community or even the UN Security Council its evidence to illustrate China's position. It highlights China's sincerity and effort to maintain peace as a responsible big power. It will never resort to force till it is the last choice," it said.

Another article in the same daily said India must desist using the "Dalai Lama card" and mess up relations with China.

Referring to reports that the "Tibetan national flag," a pro-independence symbol adopted by the Tibetan government-in- exile, was unfurled on the shores of Bangong Lake, known as Pangong Tso Lake in India's in Ladakh region, the article said the timing on the incident coincided with the standoff between the two militaries in Doklam area and whether Indian authorities instigated the political activity of Tibetan separatists to exert pressure on China.

"The lake sits astride India and China, with the Line of Actual Control passing through it. It's the first time the Tibetan exile administration in northern India has flown the flag at this location," it said.

"The timing of the flag-hoisting on Indian territory has sparked wide speculation over whether the Indian authorities instigated the political activity of Tibetan separatists to exert pressure on China. Although the involvement of New Delhi remains unclear, we hope they did not send any signal of approval," it said.

"New Delhi publicly promises not to allow any anti-China political activities by Tibetan exiles on Indian territory. But it has long used the Tibet question as a diplomatic card in dealing with Beijing," it said.

"When the Indian government attaches great importance to its relationship with China, it keeps a tight grip on anti- China political activities on its soil. However, when it is dissatisfied or has conflicts with Beijing, the Tibet card is played up. But India may overestimate the influence of Tibetan exiles," it said.

"With the rise of China and as Tibet becomes better off, Tibetan independence runs counter to the will of Tibetans. The space for Tibetan separatists has been largely squeezed as more Western countries have snubbed the Dalai Lama. The Tibet card is gradually losing its value," it said.

"If New Delhi is pulling the strings of the Tibetan exiles' political act of flag-hoisting, it will only have burned itself. Both border issues and the Tibet question concern China's core interests and China won't yield to provocations," it said. Given the ongoing border spat, Indian should "act prudently" to avoid escalating tensions, it said.

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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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News Network
March 16,2020

New Delhi, Mar 16: Due to the coronavirus pandemic, most airlines in the world will be bankrupt by the end of May and only a coordinated government and industry action right now can avoid the catastrophe, said global aviation consultancy firm CAPA in a note on Monday.

"As the impact of the coronavirus and multiple government travel reactions sweep through our world, many airlines have probably already been driven into technical bankruptcy, or are at least substantially in breach of debt covenants," it stated.

Across the world, airlines have announced drastic reduction in their operations in the wake of the coronavirus outbreak. For example, Atlanta-based Delta Air Lines stated on Sunday that it would be grounding 300 aircraft in its fleet and reduce flights by 40 per cent.

The US has suspended all tourist visas for people belonging to the European Union, the UK and Ireland. Similarly, the Indian government has suspended all tourist visas and e-visas granted on or before March 11.

CAPA, in its note on Monday, said, "By the end of May-2020, most airlines in the world will be bankrupt. Coordinated government and industry action is needed - now - if catastrophe is to be avoided."

Cash reserves are running down quickly as fleets are grounded and "what flights there are operate much less than half full", it added.

"Forward bookings are far outweighed by cancellations and each time there is a new government recommendation it is to discourage flying. Demand is drying up in ways that are completely unprecedented. Normality is not yet on the horizon," it said.

India's largest airline IndiGo -- which has around 260 planes in its fleet -- said on Thursday that it has seen a decline of 15-20 per cent in daily bookings in the last few days.

The low-cost carrier had stated that it expects its quarterly earnings to be materially impacted due to such decline.

CAPA said the failure to coordinate the future will result in protectionism and much less competition.

"The alternative does not bear thinking about. An unstructured and nationalistic outcome will not be survival of the fittest.

"It will mostly consist of airlines that are the biggest and the best-supported by their governments. The system will reek of nationalism. And it will not serve the needs of the 21st century world. That is not a prospect that any responsible government should be prepared to contemplate," the consultancy firm said.

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News Network
April 25,2020

Bueno Aires, Apr 25: Dozens of prisoners at a jail in Argentina's capital Buenos Aires rioted on Friday demanding urgent health measures after confirmation of a coronavirus case inside the facility.

Police surrounded the prison, which holds around 2,200 inmates, as explosions were heard, news agency reporters at the scene said.

A group of prisoners managed to climb onto a roof, burn mattresses and throw objects at security guards trying to quell the uprising.

Authorities have yet to comment on the riot or whether there are any injuries.

Inmates could be heard shouting demands for a judge to hear their case and for better protection against the pandemic, just a few days after a warden at the Villa Devoto prison was confirmed to have contracted the novel coronavirus.

"COVID-19 in Devoto, genocidal judges," read a banner hung from the prison roof. "We refuse to die in prison," read another.

The inmates are demanding, among other things, that releases that were pending before the pandemic be processed.

Several other riots broke out in prisons last week, including in Florencio Varela in Buenos Aires province where one inmate died and 20 were injured.

Argentina has been in lockdown since March 20 and has recorded more than 3,400 coronavirus cases and 167 deaths.

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