U.S. President Donald Trump said on Wednesday that he had offered to help New Delhi and Beijing resolve their ongoing tensions at the Line of Actual Control (LAC). The offer came as a surprise on a day when the Chinese Ministry of Foreign Affairs (MoFA) appeared to soften its line on the stand-off, suggesting the situation was “stable and controllable” now. … [Read more...] about Morning Digest: Trump offers to mediate between India and China; U.S. strips Hong Kong of special trading status, and more
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“Pakistan and Sri Lanka will likely move in the direction of negative growth and will need debt relief from their international creditors. Without it, Sri Lanka faces the prospect of a sovereign debt default. Both countries are likely to look to China as their benefactor, as their leaders have tended to do for a while,” it said. … [Read more...] about U.S. and India must develop plan to counter China’s efforts to strengthen its position in Indian Ocean
HONG KONG: Bankers and investors fear China's push to impose national security laws on Hong Kong threaten the city's future as an international financial centre. If it gets to that stage, Beijing's move will come at a cost for China's economy. WHY DOES CHINA NEED HONG KONG AS IT IS? China still has extensive capital controls and often intervenes in its financial markets and banking system. Hong Kong is one of the world's most open economies and one of the biggest channels for equity and debt financing. The size of Hong Kong's economy may only be the equivalent of 2.7% of mainland China's, down from 18.4% in 1997 when it reverted to Chinese rule, but the territory punches above its weight due to world-class financial and legal systems. As a gateway between China and the West, Hong Kong attracts global capital for China more efficiently than its other cities. HOW IS THAT CHANGING? Under the 'one country, two systems' formula agreed as part of Britain's handover of the territory … [Read more...] about How important is Hong Kong to China as a free finance hub?
“In your nations’ capacities as the current and incoming president of the UNSC, we write to strongly support the USUN’s call for an immediate UNSC meeting on recent actions taken by the Chinese government to undermine Hong Kong’s autonomy and infringe on the rights and freedoms promised to the Hong Kong people,” the senators wrote in the letter. … [Read more...] about US to announce ‘certain decisions’ on China on Friday: Trump
NEW DELHI: There are no signs of any de-escalation in the almost month-long confrontation between Indian and The Indian Army has "enough acclimatized" troops now deployed in the high-altitude areas in eastern Ladakh to take care of any contingency, while battalions in other sectors like Uttarakhand, Sikkim and Arunachal Pradesh along the 3,488-km Line of Actual Control (LAC) have also further cranked up their operational readiness, said sources. Read also: No talks between PM Modi & Trump on India-China border standoff, govt saysThe ongoing Army commanders’ conference, being chaired by General M M Naravane and attended by the senior Lt-Generals heading the six operational and one training commands, also interestingly discussed the "management of ammunition stocks and operational logistics" while reviewing the situation along the LAC on Thursday. Sources said there is no doubt that the "well-coordinated" operation by the People’s Liberation Army (PLA) for simultaneous … [Read more...] about No de-escalation in China stand-off; Army bosses discuss ammunition stocks, op logistics