Xiplomacy with Indonesia & Turkmenistan - 20th Congress Election in Beijing - Liu He at FSDC Meeting - New Two Establishments Book - Tibet Roads - Omicron Spread - JCPOA - Zhao Lijian on US 'Bullying'
Here are the stories and pieces that I found noteworthy from the Thursday, March 17, 2022, edition of the People’s Daily.
Page 1: Let’s begin with reports about Xi Jinping’s conversations with Indonesia’s Joko Widodo and Turkmen President Gurbly Berdimuhamedov and President-elect Serdar Berdimuhamedov.
Speaking to Joko Widodo, Xi said:
“In the face of major global changes and the COVID-19 pandemic, both rarely in a century, Xi said, the two countries have moved forward hand in hand and risen to challenges, established a new pattern of bilateral cooperation on the ‘four-wheel drive’ of political, economic, cultural and maritime affairs, and carried forward the main theme of solidarity against the pandemic and common development. The two countries have set the general direction for jointly building a China-Indonesia community with a shared future, and set up a model of sincere cooperation between major developing countries, Xi added.”
Xinhua further reports:
“Both sides, he said, should ensure that the Jakarta-Bandung High Speed Railway can start to operate on schedule, well implement such key projects as the regional comprehensive economic corridor and the ‘Two Countries, Twin Parks,’ and jointly build the Belt and Road with high quality, so as to help accelerate Indonesia's development and bilateral cooperation. China holds a positive attitude towards the projects as long as they are conducive to Indonesia’s development and cooperation between the two countries, Xi added. He called on both sides to maintain a stable global market and smooth supply chains worldwide, promote the concrete implementation of the Global Development Initiative, firmly safeguard the ASEAN-centered regional architecture which is open and inclusive, and stay committed to unity and cooperation for mutual benefits and win-win results.”
Here’s what Joko Widodo said as per Xinhua:
“Noting that bilateral trade and investment cooperation between the two countries is growing rapidly, he said Indonesia is ready to work with China to complete the Jakarta-Bandung High Speed Railway as scheduled for the benefits of the two nations. Indonesia looks forward to carrying out tripartite cooperation with China to help build the new capital city of Indonesia, and hopes that China will continue to support Indonesia in building the regional comprehensive economic corridor and green industrial parks, he added. Indonesia fully supports the Global Development Initiative proposed by Xi…”
Xinhua also says that the two sides “exchanged views on the situation in Ukraine and agree that all parties should stick to promoting peace talks, prevent a large-scale humanitarian crisis, control the negative impact of sanctions on the world economy and avoid dragging down the world economic recovery process.”
Do note that Indonesia holds the rotating presidency of the G20 in 2022, and will host the grouping’s leaders in a summit in October in Bali. And there has been some discussion about whether the war in Ukraine should be one of the issues on the G20’s agenda. Both Jakarta and Beijing reportedly disagree that it should.
Speaking to the leaders of Turkmenistan, Xinhua reports that:
Xi congratulated Turkmenistan on the successful presidential election, and again congratulated Serdar Berdimuhamedov on his election as the president of the country, wishing Turkmenistan new and greater achievement in the Revival of a New Era of a Powerful State. Xi noted that China-Turkmenistan relations have achieved leapfrog development in recent years, with the two sides establishing strategic partnership and bilateral cooperation in various fields reaching the highest level in history. The Chinese side attaches great importance to China-Turkmenistan relations, Xi said, adding that China will continue to firmly support Turkmenistan's domestic and foreign policies, and firmly oppose external interference in Turkmenistan's internal affairs. China stands ready to build on past achievements and move forward with Turkmenistan, so as to lift bilateral relations to higher levels and jointly build an even closer community with a shared future between the two countries, Xi said…The two sides should continue to promote cooperation in such fields as energy and natural gas, and strengthen the alignment between the Belt and Road Initiative and Turkmenistan's development strategy to revive the Great Silk Road, Xi said, so as to make the cake of mutually beneficial cooperation ever bigger, achieve more new progress and improve the well-being of the two nations. Noting that the current international and regional situation is complex and sensitive, Xi said both sides should maintain timely communication, close cooperation and mutual support on major issues, uphold true multilateralism, and contribute to promoting the democratization of international relations as well as international fairness and justice.”
Next, there’s an interesting report about the nomination process for the 20th Party Congress. This talks about a training and deployment meeting regarding the nomination work of the 20th Party Congress representatives that took place on January 17 at the Petroleum Courtyard Community in Haidian District. All the secretaries of 22 party branches under the jurisdiction of the community were present, and there were 987 party members from these branches. Zhang Tengyu, Secretary of the Party Committee of the community, called for strictly controlling politics in the process of nominations, emphasising the importance of doing so from the grassroots level.
Insisting on giving top priority to political standards, Beijing has taken the election of deputies to the 20th Party Congress as an important political task and strictly controls it at all levels. Taking a clear-cut stance to strengthen the Party's leadership over the recommendation and nomination of deputies, the Beijing Municipal Party Committee set up a special leading group and working body for the election of deputies, with the Party Secretary serving as the head of the leading group. The Standing Committee of the Municipal Party Committee studied the work plan for the election of deputies at special meetings. Party organizations at all levels in the city tightened their responsibilities step by step.
The next paragraph talks about what the high political standards imply. “The relevant comrade of the Organization Department of the Beijing Municipal Party Committee informed that Beijing will strengthen the ‘four consciousness’ and ‘four self-confidences’, and achieve the ‘two safeguards’; nominees must have strong political judgement, political understanding and political execution; it is necessary to be clear-headed on major issues, stand the test at critical moments, and consciously maintain a high degree of consistency in ideological and political actions with the CPC Central Committee with Comrade Xi Jinping as the core. As part of examining the candidates, ‘anyone who does not abide by political discipline and political rules and is politically unqualified will be resolutely rejected’.” “首都北京产生的代表,政治上必须高标准严要求。”北京市委组织部有关负责同志介绍,北京把增强“四个意识”、坚定“四个自信”、做到“两个维护”,具有较强的政治判断力、政治领悟力、政治执行力,在重大问题上头脑清醒,在关键时刻经得起考验,自觉在思想上政治上行动上同以习近平同志为核心的党中央保持高度一致,作为人选考察重点,“凡是不守政治纪律和政治规矩,政治上不合格的坚决一票否决.”
The final paragraph says:
“The whole process of the recommendation and nomination of Beijing delegates to the 20 Party Congress will be reviewed twice: the candidates recommended by each recommending unit are initially reviewed, and then the Organization Department of Beijing Municipal Party Committee, Municipal Commission for Discipline Inspection and Supervision, Municipal Political and Legal Committee, Municipal Audit Bureau and other 24 municipal units conduct a joint review of all the recommended candidates.” 严把廉洁关,坚决防止“带病提名”。北京市出席党的二十大代表推荐提名全程实施两次审查:先由各推荐单位对本单位推荐人选进行初步审查,再由北京市委组织部会同市纪委监委机关、市委政法委、市审计局等24家市级单位对全部推荐人选进行联合审查.
Next, a brief report about 32 senior officials of departments and units under China’s State Council taking an oath of allegiance to the Constitution at a ceremony on Wednesday.
Page 2: We have a report (detailed English report by Xinhua) based on Liu He’s comments at the Financial Stability and Development Committee, which led to China’s tech stocks going on a massive rally. The report puts forward the following points:
“Under the current complex situation, the most important thing is to insist on development as the top priority of the Party in governing and rejuvenating the country, take economic development as the central task, deepen reform and open wider to the outside world, to adhere to the principles of marketization and rule of law, to the ‘two unwavering’, to effectively protecting property rights, to fully implementing the spirit of the Central Economic Work Conference and the deployment of the ‘Two Sessions’, to coordinate epidemic prevention and control and economic and social development, to keep the economic operation within a reasonable range and the stable operation of capital markets.” 会议指出,在当前的复杂形势下,最关键的是坚持发展是党执政兴国的第一要务,坚持以经济建设为中心,坚持深化改革、扩大开放,坚持市场化、法治化原则,坚持“两个毫不动摇”,切实保护产权,全力落实中央经济工作会议精神和全国“两会”部署,统筹疫情防控和经济社会发展,保持经济运行在合理区间,保持资本市场平稳运行.
The next paragraph deals with specific sectors:
With regard to macroeconomic operation, we must implement the decision-making arrangements of the CPC Central Committee, effectively boost the economy in the first quarter, monetary policy should take the initiative to cope with the situation, and maintain appropriate growth in new loans.
For real estate enterprises, it is necessary to timely study and suggest effective risk prevention and mitigation solutions and put forward supporting measures for the transformation to a new development approach. — (Is this really a sign of easing? I guess it depends on what one means by risk prevention and mitigation. Two reports that shed some light: “China’s New-Home Prices Fall Again Despite Efforts to Help Developers” and China Will Not Expand Its Property Tax Trial This Year)
On the regulation over US-listed Chinese firms, the meeting said the Chinese and the US regulatory bodies have maintained good communication and made positive progress. The two sides are working on a concrete cooperation plan. The Chinese government will continue to support various enterprises to seek listings in the overseas markets.
As for the platform economy, relevant departments should improve the established plans to govern the sector. They should steadily advance and complete the rectification work on large platform companies as soon as possible through standard, transparent, and predictable regulation, the meeting said. Both ‘red lights’ and ‘green lights’ should promote the steady and healthy development of the platform economy and improve its international competitiveness. (Quick thought: I don’t read this as an end to regulatory churn. It actually sounds like there are tasks that still remain to be completed, which must be completed. This suggests greater predictability perhaps but not a rollback or halting of the building of a new regulatory architecture.)
The meeting urged enhanced communication and coordination between the regulators of the Chinese mainland and the Hong Kong Special Administrative Region (HKSAR) to maintain the stability of the financial market in the HKSAR.
The last paragraph says:
“The meeting stressed that relevant authorities should earnestly shoulder their responsibilities, actively introduce market-friendly policies and prudently introduce policies with a contractionary effect. Authorities should respond in a timely manner to issues that draw attention from the market, the meeting said. Any policy that has a significant impact on the capital market should be coordinated with the financial regulatory authorities in advance to maintain stable and consistent expectations, the meeting said. The financial stability and development committee will strengthen coordination and communication under the guidance of the CPC Central Committee and the State Council and hold relevant parties accountable if necessary, the meeting said. The financial institutions should bear in mind the overall situation and firmly support the development of the real economy, the meeting said. It added that long-term institutional investors are welcome to increase their shareholding.”
(Quick thought: This is an interesting paragraph. It sounds like there is some easing and corrective action as opposed to a policy reversal that’s taking place. For instance, there is a caveat that policies with a “contractionary effect” must be “prudently” introduced. Essentially what this paragraph says is that there must be greater caution and coordination in how regulation is rolled out. This is basically about streamlining how the bureaucracy works and wielding a stick at them. Recall, there was a lot of criticism of the manner in which different regulatory agencies acted last year, rushing with new and sudden announcements. Also recall that as a consequence, there was a lot of confusion among investors and in July Fang Xinghai was part of what was reported as a “hastily arranged” call to soothe investors’ nerves. As a reminder, here’s Wang Xiangwei’s SCMP column at the time.)
Next, there are two reports related to the current pandemic situation in China. First, a report (English report) about Sun Chunlan calling on local officials in Jilin Province to strictly implement epidemic control and prevention measures. Sun was on an inspection tour to the province from Sunday to Wednesday. She visited local educational institutions that have been hit by the latest wave of the epidemic, as well as hospitals and residential areas, and was provided the details of the province's current efforts in testing, quarantine and treatment. Noting that the epidemic in Jilin is yet to be fully contained, and that community infections need to be stamped out, Sun emphasised that mass testing should be conducted, and newly discovered infections ought to be reported and received for treatment in the shortest time possible. She also urged local authorities to enhance the management of quarantine sites and medical institutions, so as to prevent cross-infection. The living condition of residents under quarantine must be ensured, and that need for medical services, especially that from pregnant women, children, and patient with acute diseases, must be addressed properly, said Sun.
Second, a report with comments from Lei Zhenglong, deputy director of the National Health Commission’s Bureau of Disease Prevention and Control, and other officials. Lei says that the dynamic zero Covid policy is working, but Omicron’s peculiar nature has made the task of containment all the more challenging.
Wu Zunyou, chief epidemiologist at the Chinese Center for Disease Control and Prevention, says that the Omicron strain is divided into 4 subtypes, namely BA .1, BA.1.1, BA.2 and BA.3, among which the prevalent strain in China is BA.2. The study showed that Omicron BA.1 spreads 77% faster than the Delta strain, while BA.2 was another 66% faster than BA.1. “This shows that the current epidemic is spreading faster than last year. In order to control the epidemic in time, the response speed needs to be further improved,” Wu says. The report further has Wu saying that: the pathogenicity of the Omicron strain has weakened, and asymptomatic infections have increased, resulting in a faster spread of infections. Wu said that in people being infected with the Omicron strain, it is difficult to detect asymptomatic or mild symptoms. In addition, the proportion of Chinese residents vaccinated against the novel coronavirus is very high, which offers a certain degree of protection. Wu further adds that since the symptoms of infection are very mild and often go undetected, it is easy for the current wave to cause widespread transmission through social activities. This poses a huge challenge to China’s epidemic prevention and control. Nevertheless, he backs the dynamic zero-Covid policy, wanting measures to be implemented “faster and more accurately.”
Page 3: A couple of reports to note. First, Wang Yi’s chat with Iranian Foreign Minister Hossein Amir-Abdollahian.
The Iranian FM is reported to have said that Iran is ready to resume the negotiations as soon as possible to resolve the final outstanding issues (related to the JCPOA) through consultation with other parties and strive for a good agreement. Iran thanks China for its constructive role in the negotiations and hopes China will continue to support it. Wang Yi said, China always supports the early conclusion of the agreement on resuming compliance with the JCPOA and is open to and supportive of efforts conducive to the realization of this goal. China understands Iran’s legitimate concerns, supports Iran in safeguarding its legitimate rights and interests and opposes unilateral sanctions that have no basis in international law. In the face of the rapidly evolving international and regional situation, China is ready to strengthen coordination and cooperation with Iran to push for the resolution of the Iranian nuclear issue in a direction conducive to regional peace and stability.
Amirabdollahian was also in Moscow recently. This report from Reuters on the negotiations and how the Ukraine war has complicated matters related to the JCPOA is worth reading.
Next, an interesting development in China-Cambodia ties, with Chen Xi, who heads the CCP Organisation Department, speaking to Cambodian Deputy Prime Minister Aun Pornmoniroth. Chen said that China stands ready to work with Cambodia to strengthen cooperation in various fields, including civil service administration, to further enrich the connotations of the comprehensive strategic cooperation partnership between the two countries. The two sides also signed a memorandum of understanding between the two countries' civil service departments.
Third, a report with comments from You Wenze, spokesperson for the Foreign Affairs Committee of the National People's Congress on the China-related clauses in U.S. Consolidated Appropriations Act, 2022.
“Despite repeated solemn representations from the Chinese side, the U.S. side insisted on signing the 'Consolidated Appropriations Act for fiscal year (FY) 2022' into law, which contains a number of negative provisions concerning China’s Taiwan, Hong Kong, Tibet and Xinjiang. It seriously harms China's national interests and grossly interferes in China's internal affairs. We firmly oppose this. The attempt of the U.S. to interfere in China's internal affairs, contain China’s development and undermine China’s national security and social stability by taking advantage of these issues will never succeed.”
You Wenze noted that China will firmly commit to safeguarding its sovereignty, security and development interests. He strongly urged the U.S. to fully recognize the serious harm of relevant negative China-related clauses and stop interfering in China’s internal affairs.
Page 6: A report informing that the Taiwan Affairs Office of the State Council, the Ministry of Commerce, and the State Administration for Market Regulation jointly released a new notice on Taiwan residents’ applications to establish individually-owned businesses in pilot areas for the innovative development of trade in services.
Global Times has an English report on this. It says that:
“In addition to areas covered by the previous plan such as retailing, catering, textiles, clothing and household goods wholesaling, the new plan has been expanded to cover more areas such as intellectual property agent, entertainment agent, air pollution control, and municipal facilities management. Agriculture is a big part of the new plan, including the planting of vegetables, fruits, edible fungi and horticultural crops. Food-related industries were also added, such as the production and processing of baked food, confectionery products, chocolate, candied fruit tea and other beverages. Pet services, translation services and other civil services were also added. In addition, market opening-up for Taiwan residents will be further expanded to include 27 pilot areas for the innovative development of trade in services.”
It adds that as of the end of 2021, there were 359 self-employed Taiwan farmers and 9,926 self-employed Taiwan residents registered in the mainland, according to statistics from the market regulator.
Another report which informs that as per the SASAC, from January to February this year, central enterprises achieved an operating income of 5.7 trillion yuan, total profit of 367.87 billion yuan, and net profit of 282.17 billion yuan, respectively. The growth rate was 17.6%, 20.6% and 20.4%.
Page 9: There’s a new book by the People’s Daily’s theory department titled How to Learn and Put into Practice the Two Establishments. The report says that the book explains the decisive significance and practical requirements of the ‘Two Establishments’ in depth, which will be helpful for Party members and cadres to deeply learn, thoroughly understand and faithfully practice, and resolutely transform the profound understanding of the ‘Two Establishments’ into the ideological consciousness, political consciousness and action consciousness of the ‘two safeguards.’ “两个确立”是党的十八大以来最重要的政治成果,是我们奋进新征程、建功新时代的根本保证。人民日报理论部主编的《如何学习贯彻“两个确立”》一书,近日由人民日报出版社出版。该书较为深入地阐释了“两个确立”的决定性意义及实践要求,有助于广大党员、干部学深、悟透、笃行,把深刻领悟“两个确立”转化为坚决做到“两个维护”的思想自觉、政治自觉、行动自觉.
The lead piece on the page is by Ouyang Song about the need to understand the new leap in the sinicization of Marxism, i.e., Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era. I’ll summarise some of the key points he makes:
Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era clearly reflects the theoretical character and spiritual essence of Marxism.
Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era is the latest achievement of combining the basic principles of Marxism with China's concrete reality and the excellent traditional Chinese culture.
Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era has made original contributions to the development of Marxism and has established a scientific theoretical system.
Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era has profoundly answered major issues of the times and has been tested by practice.
“Under the scientific guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the appearance/state (面貌) of the Party, the country, the people, the military, and the Chinese nation have undergone historic changes. The most fundamental reason why the Party and the country have been able to make all-round and pioneering achievements and have undergone profound and fundamental changes since the 18th Party Congress is that General Secretary Xi Jinping as the core of the CPC Central Committee and the core of the whole Party has been at the helm of affairs and there has been the scientific guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era.” 在习近平新时代中国特色社会主义思想科学指引下,党的面貌、国家的面貌、人民的面貌、军队的面貌、中华民族的面貌发生了历史性变化。党的十八大以来党和国家之所以能取得全方位、开创性成就,发生深层次、根本性变革,最根本的原因在于有习近平总书记作为党中央的核心、全党的核心掌舵领航,在于有习近平新时代中国特色社会主义思想科学指引.
Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era is Marxism in the 21st Century.
Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era has profoundly answered a series of major questions about the modernization of Marxism in China.
Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era has made significant contributions to the advancement of world socialism and human civilization in the 21st century.
“China is increasingly approaching the centre of the world stage, creating a new form of human civilization, providing a new path choice for the modernization of human society, and greatly enhancing people’s confidence in socialism with historic achievements and global contributions.”
Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era regards the Chinese spirit as the soul of rejuvenating the country and strengthening the country, and provides a powerful spiritual impetus for realising the Chinese dream.
Page 10: Two reports to note. First, a report with data from PBoC.
The total assets of China’s financial institutions were 381.95 trillion yuan, up 8.1% year-on-year in 2021.
Of this, the total assets of banking institutions were 344.76 trillion yuan, up 7.8% year-on-year;
the total assets of securities institutions were 12.3 trillion yuan, a year-on-year increase of 21.2%;
the total assets of insurance institutions were 24.89 trillion yuan, a year-on-year increase of 6.8%.
The total liabilities of financial institutions were 346.58 trillion yuan, a year-on-year increase of 7.9%.
Of this the liabilities of banking institutions were 315.28 trillion yuan, a year-on-year increase of 7.6%;
the institutional liabilities of the securities industry were 9.35 trillion yuan, a year-on-year increase of 24.4%;
the liabilities of insurance institutions were 21.96 trillion yuan, a year-on-year increase of 6.9%.
Second, a report about highway construction in Tibet. Last year, some 36.263 billion yuan was allocated for transportation construction funds and 20.1 billion yuan for investment in fixed assets of highway transportation. This year, Tibet plans to use transportation investment of 21.601 billion yuan, build 607 kilometres of national and provincial trunk roads and 1,799 kilometres of rural roads.
The piece says that in 2021, the entire Nagqu-Lhasa Expressway, which is part of the G6 Beijing-Lhasa expressway, was opened to traffic. It also talks about work being done to complete the La’ri Expressway and the Gonggar Airport Expressway. It says that except for Ngari prefecture all 6 cities in the region are now connected. For 2022, the report talk about accelerating the construction of the Golmud to Nagqu highway.
Page 17: On the international page, the third piece on prisons in America and the collusion of capital and power, which has undermined human rights. Then there are these two comments from yesterday’s MoFA press briefing.
AFP: According to the readout of State Councilor and Foreign Minister Wang Yi’s call with Spanish Foreign Minister José Manuel Albares, China doesn’t want to be affected by western sanctions on Russia. Could you provide any more details on what “affected” means in this context? Was the foreign minister warning countries against imposing new sanctions on China? Was he saying that China opposes any indirect effects of the current sanctions on its own economy or was he saying something else?
Zhao Lijian: We have released the relevant readout. China’s position on opposing sanctions is clear. The US lately has made many provocative remarks about China. For example, White House Press Secretary Jen Psaki said that China will face significant consequences if China supports Russia’s “invasion”. The US side also said that China and Russia only make up 25 percent of the world’s economy. The G7 countries make up more than 50 percent. So there are a range of tools at the US' disposal in coordination with their European partners even if China ignores US warnings and helps Russia deal with the impact of sanctions.
The US’ remarks reflect thinly-veiled bullying and coercion and expose the ingrained Cold War zero-sum mentality and bloc confrontation. They represent another product of the US’ philosophy of doing things “from a position of strength”. On the Ukraine issue, China has been independently making its judgment and expounding on its proposition based on the merits of the matter itself in an objective and just manner. China has been calling for dialogue and negotiation, working for deescalation of the situation and putting forward China’s initiative to resolve the current crisis. Any disinformation that dismisses China’s efforts, misrepresents China’s intention and slings mud on China with lies is irresponsible and unethical. I want to reiterate that sanctions are never effective means to solve problems. China opposes all forms of unilateral sanctions and “long-arm jurisdiction” by the US. We will resolutely defend the legitimate rights and interests of Chinese companies and individuals. Wielding the baton of sanctions while seeking China’s support and cooperation simply won’t work. We urge the US not to undermine China’s legitimate rights and interests in any form. If the US insists on having its own way, China will definitely take strong countermeasures.
And this:
Macau Monthly: The US State Department spokesperson said the other day that the basic tenet of the international order that “big countries cannot bully small countries” has been violated in the conflict between Russia and Ukraine. What is your comment?
Zhao Lijian: How ironic it is for the US to say “big countries cannot bully small countries”. If the US can reflect on what it did to Cuba and Panama in 1960s, Grenada in 1980s, the Federal Republic of Yugoslavia in 1990s, Afghanistan and Iraq at the start of this century, and Syria and Libya afterwards, it would find that these are textbook examples of big countries bullying small countries. Why hasn’t the US said a word about these facts? The US should wear label of the big bullying the small well. The fundamental way out of the Ukraine crisis is dialogue and negotiation, rather than “rules-based order” unilaterally defined according to one’s own standards, still less coercing others to pick sides and creating the chilling effect of dividing countries into friend or foe. The world needs peace, not war; it calls for justice, not hegemony; it aspires for cooperation, not confrontation. This is what the vast majority of countries in the world are hoping for. There is only one system in the world, which is the international system with the UN at its core. There is only one order, which is the international order underpinned by international law. There is only one set of rules, which is the basic norms governing international relations based on the purposes and principles of the UN Charter. If the US is sincere about easing the situation in Ukraine, then it should stand on the side of peace and justice as most countries do in the world.
Finally, a report informing us that the Chinese representative spoke to the Special Representative of the UN Secretary-General on Violence against Children at the 49th session of the United Nations Human Rights Council, expressing concern about the violation of children’s rights in the United States. This mentions gun violence, detention of immigrant children and separation of immigrant children from their parents.
I want to understand the implication of crackdown on the leading giants in the Chinese economy. The stringent regulatory measures is leading into bloodbath in Hong Kong stock exchange where the leading gaming company Tencent has seen drop in 50% of share prices and collective drop of 64% in total for whole sector.
Well, I understand the ideological grounds on doing so, and also on the grounds that the upcoming National Congress which is most probably going to elect Xi as their leader again and in for this smooth transition the so called 'people's democratic values' are been enforced.
Some experts argue that the same set of rules and regulation came down on capitalist establishment in USA during 1920s, but in contrast the current globalized economy has different context and hence how this action will led the Chinese economy?