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Post Sat Apr 06, 2013 5:33 am
Rampager Grand Duke
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Posts: 836
Slogan: MISSION ACOMPLISHED 21-05-2014 (signed and sealed)
Gillard trip underlines Australia's dependence on China
April 5, 2013

(CNN) -- Australian Prime Minister Julia Gillard is expected to secure a major currency conversion deal with her nation's number one trading partner as she begins a six-day visit to China Friday.

The deal has ramifications beyond Beijing-Canberra ties as a step towards full convertibility of the yuan on international markets, denting the primacy of the U.S. dollar as the world's reserve currency of choice. Currently, Chinese and Australian companies must use the U.S. dollar as an intermediary for trade.

The Australian leader also faces the task of assuring China that her nation's growing defense agreements with the U.S. pose no threat to Beijing.

"I don't view us as being in a position where the strong and growing relationship we have with China is somehow in contest, or in contrast, to the relationship we have with the United States of America," Gillard said Thursday at a Foreign Correspondents lunch in Sydney, ahead of her departure.

Leading what she called the "most senior Australian political delegation" ever to visit China, Prime Minister Gillard will also be amongst the first western leaders to meet China's new President Xi Jinping.

The Australian delegation includes the Foreign Minister, Bob Carr, Trade Minister Craig Emerson and Financial Services Minister Bill Shorten.

"The timing of this visit so soon after the new leadership has entered office is deliberate and reflects the importance of our rapidly evolving relationship with China and our high-level political oversight of that relationship," Prime Minister Gillard said.

The visit is primarily aimed at furthering the Australian governments ambition for greater engagement with Asia -- and China in particular -- as outlined in a major policy paper released in October.

"Australia in the Asia Century" acknowledged Australia's economic prosperity was tied Asia and it detailed a set of objectives to be achieved in order for Australia to boost its wealth by taking advantage of the rise of a massive Asian middle class.

Australia's dependence on China as it marches toward global economic dominance has been clear for many years now. In 2011-12, China was again Australia's largest two-way trading partner for goods and services, with trade topping $128 billion. China accounts for 14.7% of the total trade of goods and services and takes one quarter of Australian exports, much of it in raw materials. Significant Australian exports of coal and liquid gas are used to power Chinese industry, but Australian suppliers are facing increasing pressure from U.S. and Russian rivals.

"It's a competitive world and you're right, the amount of competition in the energy sector is getting stronger and stronger and more and more acute," she said.

"I am very confident that we can be very good at what we do. I think we're very good now and we are always going to have to look for the innovations that make us an even better quality supplier," she added.

Under the currency deal that Prime Minister Gillard is expected to announce whilst in Shanghai, the Australian dollar would become directly convertible to Chinese yuan, overcoming the need to first convert to U.S. dollars. This would remove expensive exchange rate issues, cutting the cost to Australians of doing business in China, though the Prime Minister remained coy when asked to confirm the deal.

"You are going to have to wait until I'm in Shanghai," she told the Foreign Correspondents luncheon.

With the Chinese economy expected to grow at about 8% this year, the currency deal would be an important and much needed political bonus for the struggling Gillard government in an election year. She did however warn that the Australian dollar was expected to remain high due to Chinese demand and the perception that Australia is a safe currency haven.

"Australian dollar to U.S. dollar exchanges are now estimated to be the fifth highest traded currencies in the world," she said.

Gillard will also take the stage at the Bo'ao Forum for Asia on Hainan Island where the world's business leaders and economic thinkers will gather to hear from China's senior policy makers.

Later, in Beijing, she will meet with President Xi Jinping, to discuss what she termed Australia's position as an "energy superpower," as well as regional defense and security issues.

Australia's decision to permit U.S. marines to be stationed on its soil as part of Washington's refocus on the Asia Pacific has upset Beijing. Ahead of the 16th annual Australia-China Defence Strategic Dialogue later this year and a Chinese navy ship visit for the International Fleet Review, the Australian government is also working on agreements to allow U.S. naval and aircraft access to Australia.

But Prime Minister Gillard there is no competition between the United States and China for Australia's attention and allegiance.

"We will continue to do what we've done for some period of time - to attend to our friendship and alliance with the United States while growing our friendship with China," she added.

Tension resulting from North Korea's threat to launch missile attacks against U.S. allies in its neighborhood and even against the U.S. mainland also is expected to be raised.

Foreign Minister Bob Carr told ABC television that Australia will seek information from the Chinese leadership.

"We will raise with China our concerns that if the provocative and bellicose behavior of North Korea continues, then it will simply result in rising tensions in north-east Asia and put Japan and South Korea in a position where they will pay more attention to their security," he said.

"China has a keen interest in seeing that the provocative behavior by North Korea comes to an end."

Regardless of pressing international geo-politics, domestic issues are never far away.

Although meeting President Xi is expected to bolster Prime Minister Gillard's image at home where she has been criticized for being uncomfortable on the world stage and disinterested in international affairs, her political opposition have taken aim.

Whilst welcoming the prospect of a currency conversion deal, the opposition has reiterated concern over the government's threatened crackdown on skilled worker visas, which Prime Minister Gillard claims is being abused.

She said the visa category was delivering jobs that could go to Australians, to foreign workers, leaving supporters and critics alike condemning her for buying into a divisive and long running race debate.

On the eve of her departure for China, the opposition coalition leader, Tony Abbott said that the Prime Minister is "very interested in the Asia century when she's traveling to Asia, but when it comes to skilled migration, a totally different story."
http://edition.cnn.com/2013/04/04/world/asia/australia-gillard-china-trip/index.html?hpt=ibu_c2

China...China...China...China...China...!!!
USA...USA...USA...USA...USA

Post Wed May 22, 2013 5:30 pm
Rampager Grand Duke
Grand Duke

Posts: 836
Slogan: MISSION ACOMPLISHED 21-05-2014 (signed and sealed)
Xi, Obama to meet in California
2013-05-22

President Xi Jinping will meet US President Barack Obama in California next month on his way back from a trip to Latin America and the Caribbean.

Analysts said the arrangements for their meeting, which is informal but will be held over two days, show that relations between the two countries are mature.

The China-US summit, the first since Xi took office in March, will be held at Sunnylands, on the Walter and Leonore Annenberg Estate, on June 7 and 8, the Foreign Ministry announced on Tuesday.

Before arriving in California, Xi will pay State visits to Trinidad and Tobago, Costa Rica and Mexico from May 31 to June 6.

Foreign Ministry spokesman Hong Lei said the meeting will promote communication, trust and mutually beneficial cooperation between the two countries and help manage their differences effectively.

"The China-US relationship has entered a new era with important development opportunities. Both countries have hoped the presidents would meet soon to communicate and plan for the development of their bilateral relationship," Hong said at a regular news conference on Tuesday.

Chen Mingming, an expert on diplomacy and former Chinese ambassador to Sweden and New Zealand, said, "Sending this invitation shows the US highly values China's role. China's acceptance of such an informal visit demonstrates the maturity of the Sino-US relationship and both leaders' eagerness to meet each other."

Chen said the meeting is expected to set a general direction for the nations' relationship in the next four to five years, and that ways of increasing their strategic trust will be high on the agenda.

One important aim the US has with the meeting is to eliminate China's concerns by reiterating that it sees the country's development as an opportunity and that it will not contain or isolate China, Chen said.

It also wants to get China's support on nuclear issues involving the Democratic People's Republic of Korea and Iran, he said.

"What China expects from the US is a clear commitment that it will not do things to harm China's sovereignty," Chen said.

Tao Wenzhao, a senior researcher at the Chinese Academy of Social Sciences, said developing personal ties and trust between leaders is very important to bilateral relations. Tao cited the trust between late Chairman Mao Zedong and then-US secretary of state Henry Kissinger as an example.

Tao noted that the first meeting between Obama and former president Hu Jintao came during the G20 Summit in April 2009, "but it will be too late for Xi and Obama to (wait to) meet until this year's G20 Summit in September".

When Xi was vice-president, he was invited by his US counterpart Joe Biden to visit the US in February last year, where he met Obama.

However, Tao does not expect a "breakthrough" from the summit, as there are many meetings between the two countries every year.

The relationship between the world's top two economies has been described by analysts as complicated and has experienced ups and downs due to their differences on issues including cybersecurity, island sovereignty and trade — reasons for recent friction.

Tao said both countries need the other's help in achieving success on much of their domestic agendas, and if one fails, the other will often become a "scapegoat", as shown by the popularity of China-bashing in the US presidential election last year.

"China sincerely hopes the US can get better and that its economy will recover. The US should also wish that China develops well, as China's growth will increase its investment in the US and help the US to reduce unemployment. This is a mutually beneficial relationship," he said.

The White House said in a statement on Monday that the two leaders will review progress and challenges in their nations' relations over the past four years and discuss ways to enhance cooperation, while constructively managing differences in the years ahead.

Carla Hills, chair of the National Committee on United States-China Relations, believes the top leaders should meet frequently to discuss a range of issues important to both nations. "Relationships matter. Getting to know your counterparty makes it easier to reach mutually acceptable solutions to some of the difficult issues our nations face," she said.

Orville Schell, director of the Center on US-China Relations at the Asia Society in New York, described Xi's "unofficial" trip as "good news." "It is a welcome sign that he is willing to forgo the usual formalities to make this trip at short notice and get down to business," Schell said.

"The challenge is for both sides to dig down to that shared interest — bilateral trade and investment, climate change, nuclear proliferation, world health — in the hope that such recognitions will help stabilize this important bilateral relationship, even as inevitable problems continue to arise," he said.

Kenneth Lieberthal, a senior fellow at the Brookings Institution, said, "This meeting will not seek to reach final agreements, but rather to understand the priorities of the other side and the areas where it is feasible to seek cooperation on a new level."
http://europe.chinadaily.com.cn/china/2013-05/22/content_16517780.htm

LOL@on his way back from a trip to Latin America and the Caribbean

It seems China, after visiting THEIR backyard now, makes time to accept a visit of the USA, their biggest debtor.

What China expects from the US is a clear commitment

commitment: The state of being bound to a course of action or to another person or persons.

Post Wed May 22, 2013 6:25 pm
Willard User avatar
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Lurker

Posts: 47
Slogan: smell the coffee
Rampager wrote:
Giant rise in global yuan use
2012-11-15

A new index, started to track offshore yuan business worldwide, has shown that the currency's international use has grown more than seven-fold over the past two years.

The Renminbi Globalization Index was introduced in Hong Kong on Wednesday by Standard Chartered Bank, along with the results of a survey conducted among top managers of companies across Asia and Europe, which showed that 76 percent of the respondents polled were either conducting yuan business already, or considering doing so within the next six months.

The index is being promoted by Standard Chartered as the first industry benchmark that tracks offshore yuan business worldwide, which the bank claims will offer a quantifiable view of the latest trends as China accelerates its pace to make the yuan global.
http://europe.chinadaily.com.cn/business/2012-11/15/content_15929683.htm


China is a paper tiger. They huff and they puff.

What they are good at is trading (organ transplants are the new black) and they are the best at running shops. When it gets down to military expansion, that's when they lose sight of their core expertise. If they try to match the real player in the military area, they will get their Commie asses kicked.

Post Thu May 23, 2013 1:06 am
Rampager Grand Duke
Grand Duke

Posts: 836
Slogan: MISSION ACOMPLISHED 21-05-2014 (signed and sealed)
Willard said:
China is a paper tiger. They huff and they puff.

The only "paper tiger" is the USA...printing money out of thin air to pay their bills...at least for their time left !
Here:
US Fed's Ben Bernanke hails benefits of stimulus
22 May 2013
US Federal Reserve chairman Ben Bernanke has told Congress that it is too soon to end the central bank's monetary stimulus programme or raise interest rates.
http://www.bbc.co.uk/news/business-22623574

LOL@it is too soon to end the central bank's monetary stimulus programme
I bet is ...
PRINT...PRINT...PRINT...
LOL@Bernanke hails benefits of stimulus
Funny...!!!

All this while China is BOOOOMING economically, financially, military and politically and the US collapsing on all these subjects...a nation left running by a government dwelling on lies & debt, desperately pretending and keeping up apearances they still run this planet.

Post Fri May 24, 2013 7:32 pm
JemHadar User avatar
Lurker
Lurker

Posts: 37
Slogan: The Founders are Gods
Rampager wrote:
Willard said:
China is a paper tiger. They huff and they puff.

The only "paper tiger" is the USA...printing money out of thin air to pay their bills...at least for their time left !
Here:
US Fed's Ben Bernanke hails benefits of stimulus
22 May 2013
US Federal Reserve chairman Ben Bernanke has told Congress that it is too soon to end the central bank's monetary stimulus programme or raise interest rates.
http://www.bbc.co.uk/news/business-22623574

LOL@it is too soon to end the central bank's monetary stimulus programme
I bet is ...
PRINT...PRINT...PRINT...
LOL@Bernanke hails benefits of stimulus
Funny...!!!

All this while China is BOOOOMING economically, financially, military and politically and the US collapsing on all these subjects...a nation left running by a government dwelling on lies & debt, desperately pretending and keeping up apearances they still run this planet.


I have heard, hearsay, that America is pursuing an inflationary policy of printing money as a way of reducing their foreign debt in real terms. Hoping that the printing will create inflation.

But America is a land of addicted warriors and will need to have another war to slake that thirst. That war will be against a strong, worthy adversary harbouring WMD's, like New Zealand or Liechtenstein. And that could place them in further debt, unless they can corporatise the defeated and then asset strip them. But I know little about these things.

Post Mon Jun 03, 2013 10:32 am
Rampager Grand Duke
Grand Duke

Posts: 836
Slogan: MISSION ACOMPLISHED 21-05-2014 (signed and sealed)
China's President Wants To Open The Floodgates Of Trade With Mexico
June 02, 2013

Over the last few years, China has invested heavily in resource-rich Latin America, striking major trade deals with governments from Venezuela to Argentina.

And now the Asian power house is reaching out to Mexico, one of the few countries in the region where ties have been slow to develop

On Tuesday President Xi Jinping begins a three-day visit to the region just as Mexico debates opening its highly regulated energy sector to more foreign investment.

China's president has said he plans to address Mexico's large trade deficit with the Asian power and discuss ways to increase Mexican exports. Analysts say that could mean oil, which Mexico has and China needs to fuel its expanding economy and the cars of its growing middle class.

"Access to strategic raw materials is key to understanding the dynamic of relations with China," said Hugo Beteta, director for Mexico and Central America of the United Nations Economic Commission for Latin America and the Caribbean. "Clearly there is an interest by China in Mexican oil."

The trip is part of a four-country regional tour that ends in the United States. Xi started in Trinidad and Tobago, where he also met with leaders of other Caribbean countries, and he arrives Sunday night in Costa Rica.

China and Trinidad have had diplomatic ties for almost 40 years, and Trinidad is a major trading partner in the Caribbean for China. Costa Rica is the only country in Central America to have diplomatic relations with China.

U.S. trade still dwarfs China's for the three countries Xi is visiting. But China's trade with Costa Rica and with Mexico has tripled since 2006, according to the International Monetary Fund.

Relations with Mexico had been chilly in the past, especially when former President Felipe Calderon hosted the Dalai Lama in 2011, something China's Foreign Ministry said "hurt the feelings of the Chinese people and harmed Chinese-Mexican relations."

President Enrique Pena Nieto, who took office in December, has been aggressive so far about changing that, and the two new presidents reportedly hit if off on a personal level when Pena Nieto visited China and met with Xi in April. That resulted in an unusually quick diplomatic follow-up, just two months into Xi's presidency.

During the April talks, Xi said "he is committed to working with Mexican authorities to help Mexico export more," Mexico's vice minister of foreign relations, Carlos de Icaza, told The Associated Press.

That's key for Mexico, because its trade deficit with China is exploding, far surpassing that of any other Latin American nation.

While China is looking to assure supplies of raw materials, Mexico is looking to diversify its trade and investment, which have long been dominated by its superpower neighbor to the north.

"In the new global geopolitical and economic map, China is, and I think it has arrived to stay, the world's second economic power," De Icaza said. Mexico "has to understand and strengthen relations with a nation that has such great strategic value."

De Icaza said the countries hope to sign at least a dozen agreements in the fields of trade, energy, tourism, science and technology during Xi's visit.

Mexican exports to China came to a bit over $5.7 billion in 2012, while its imports from that country stood at almost $57 billion, according to statistics from Mexico's Economy Department. Cell phones, video games and parts for electronics factories have been pouring into Mexico, which sends China minerals such as copper and lead.

Overall trade between China and Latin America has expanded quickly over the past decade and the continent now imports more from China than it does from the European Union, according to the U.N. economic agency for the region.

Many countries balance those imports by sending China raw materials: oil from Venezuela, copper from Chile, soybeans from Argentina. But Mexico's exports go overwhelmingly to the huge U.S. market right on its border.

Beteta noted that China imports three-quarters of the oil it consumes.

"China needs to guarantee oil for its citizens' cars, but also obviously for its economy as a whole, which has a high energy intensity, and Mexico is an oil power," he said.

At the same time, Pena Nieto's government has said that it will soon present an energy reform bill to allow greater national and international investment in its oil sector. It hasn't revealed the details of the initiative, but Beteta said it "has awakened the appetite of many people."

State oil company Petroleos Mexicanos, or Pemex, already has taken small steps to increase its relationship with China, which until recently had been minimal.

Of the roughly 2.5 million barrels of crude that Pemex produces a day, about 1.2 million are exported. Energy ministry figures show that 75 percent of these exports go to the United States and about 7 percent to the "Far East." It does not specify how much each specific country in that region receives.

In April, during Pena Nieto's visit to China, Pemex signed its first long-term contract with a Chinese company, agreeing to ship 30,000 barrels a day to the state oil company Sinopec.

Mexico may have other goods and investment opportunities to offer as well.

"China is the principal consumer of coal, gas, oil, of secondary industries like cement, steel, concrete," said Juan Carlos Rivera, director of the Center for Business with Asia at the private Monterrey Technological Institute. "Evidently (China) is looking to satisfy their market needs."

Costa Rican President Laura Chinchilla said her country is looking for agreements in the areas of clean energy, public transportation and student exchanges after Xi arrives Sunday. The government also wants to give a final push to negotiations for the joint construction of a $1.3 billion refinery on Costa Rica's Caribbean coast.
http://latino.foxnews.com/latino/money/2013/06/02/china-president-wants-to-open-floodgates-trade-with-mexico/#ixzz2V5lyzS77?test=latestnews

After taking over practically whole US its backyard, next is Mexico !!!

While China is looking to assure supplies of raw materials, Mexico is looking to diversify its trade and investment, which have long been dominated by its superpower neighbor to the north.

lol@its superpower neighbor to the north
Funny....

Post Fri Jun 07, 2013 3:35 pm
Willard User avatar
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Lurker

Posts: 47
Slogan: smell the coffee
Absolute rubbish!

Post Mon Jun 10, 2013 8:18 am
Rampager Grand Duke
Grand Duke

Posts: 836
Slogan: MISSION ACOMPLISHED 21-05-2014 (signed and sealed)
Willard said:
Absolute rubbish!

Hmmm.....nope....NEWS !!!
The only rubbish in it is mentioning the US still as a superpower.

Post Fri Jun 14, 2013 4:04 am
Rampager Grand Duke
Grand Duke

Posts: 836
Slogan: MISSION ACOMPLISHED 21-05-2014 (signed and sealed)
Nicaragua Approving Massive Canal Project
June 13, 2013

A $40 billion plan to plow a massive rival to the Panama Canal across the middle of Nicaragua is headed for approval by the country's leftist-controlled National Assembly. It caps a lightning-fast approval process that has provoked deep skepticism among shipping experts and intense concern among environmentalists.

The assembly dominated by President Daniel Ortega's Sandinista Front is expected to vote Thursday to grant a 50-year concession for the canal to a Hong Kong-based company whose only previous experience appears to be in telecommunications.

Ortega's backers say the Chinese project will transform one of the region's poorest countries by turning a centuries-old dream of a Nicaraguan trans-ocean canal into reality, bringing tens of thousands of jobs to the country.
http://abcnews.go.com/International/wireStory/nicaragua-approving-massive-canal-project-19393497#.UboIkEBCS1s

Post Sun Jun 16, 2013 12:37 am
Rampager Grand Duke
Grand Duke

Posts: 836
Slogan: MISSION ACOMPLISHED 21-05-2014 (signed and sealed)
Nicaragua Congress approves ocean-to-ocean canal plan
13 June 2013

The Nicaraguan Congress has approved a proposal to have a canal built linking the Pacific and the Atlantic Oceans.

Hong Kong-based company has been granted a 50-year concession to build the waterway, which will rival the Panama Canal.

The $40bn (£25bn) plan has been criticised by environmentalists, who say cargo ships will create a permanent risk to Lake Nicaragua.

But President Daniel Ortega says the project will bring prosperity.

Nicaraguan leaders have for centuries dreamt of building a canal linking its Caribbean coast to the Pacific.

Several initiatives failed and the project suffered what seemed to be a final blow when the United States decided to build a canal in Panama, which opened in 1914.

Map of Nicaragua
"One of Nicaragua's great riches is its geographic position, that's why this idea has always been around,'' Sandinista government congressman Jacinto Suarez in Congress on Thursday.

"Opposing it is unpatriotic,'' he added.

The projected was approved in Congress by 61 to 28 votes.

A Chinese company - the Hong Kong Nicaragua Canal Development Investment Co - was chosen to carry out the project.

Critics say the company lacks the necessary experience to undertake such a huge project.

The concession can be extended for another 50 years once the canal is operational.

The Nicaraguan government will get a minority share of the profits generated by the canal.
http://www.bbc.co.uk/news/world-latin-america-22899744

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