SINGAPORE — Last week, leaders and officials representing more than three dozen countries from across the world gathered in Beijing for the second Belt and Road summit. The event marks the two-year anniversary since China first convened its flagship initiative to coordinate trillions of dollars of infrastructure across Eurasia and the Indian Ocean in a broad effort to recreate the old Silk Roads. One nation that was missing from the summit: The U.S.Story Continued Below The fashionable position in Washington today is to dismiss the Belt and Road Initiative (BRI) as a power play that won’t last—an attempt at neocolonial debt trap diplomacy, in which China uses unpayable debts to control less powerful states, that is ultimately destined to collapse under the weight of financially spurious projects. On the other hand, there are also those who view BRI as a serious threat—a sign of China’s continued quest for global hegemony and the presence of a new Cold War … [Read more...] about Washington Is Dismissing China’s Belt and Road. That’s a Huge Strategic Mistake.
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Reuters Remember the spectacular 1,375 per cent price rise of Bitcoin late last year, and the equally dramatic fall it experienced in 2018? Many investors hoping to get into cryptocurrency for some quick riches ended up getting their fingers burned, after the presence of other cryptocurrencies (altcoins) forced Bitcoin’s cryptocurrency market capitalisation to fall from 90 per cent in January 2016 to just 33 per cent share in February 2018. With the collapse of cryptocurrencies this year, the 10 largest cryptocurrencies lost more than 80 per cent of their collective value between January and September. But according to management consultancy AT Kearney, there could be a plot twist coming up in the Bitcoin story in 2019. Read also: Everything you need to know about Bitcoin, its origins, and its creator In its latest Year-Ahead Predictions 2019 report, the firm predicted that cryptocurrencies will begin a “second decade in a state of post-crash consolidation and … [Read more...] about Bitcoin is making a comeback in 2019 as the cryptocurrency market matures , AT Kearney predicts
BEIJING (Reuters) - China demanded the United States “dispel obstacles” to improving military ties and stop slandering it, amid growing tensions over trade, Taiwan, the South China Sea and U.S. President Donald Trump’s claims of China meddling in the upcoming U.S. election. FILE PHOTO: Chinese Defence Ministry spokesman Ren Guoqiang attends a news briefing in Beijing, China May 25, 2017. China Daily via REUTERS Trump on Wednesday accused China of seeking to interfere in the Nov. 6 U.S. congressional elections, saying that Beijing did not want him or his Republican Party to do well because of his pugnacious stance on trade. The two countries are already embroiled in an acrimonious trade war and have continued to butt heads over a list of sensitive issues including the disputed South China Sea and self-ruled Taiwan, armed by Washington but claimed by Beijing. On Saturday, China summoned the U.S. ambassador in Beijing and postponed joint military talks to … [Read more...] about China demands U.S. ‘dispel obstacles’ to military ties and stop…
Breaking News Emails Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings. SUBSCRIBE VLADIVOSTOK, Russia — Donning a blue apron, Russian President Vladimir Putin poured batter into a pan and tossed it. He was cooking with his Chinese counterpart, Xi Jinping, and the pair were making a traditional Russian pancake called a blini. The culinary showmanship reflected a larger trend: Russia and China are developing a closer, albeit uneasy friendship. Before last week's blini-making, the two leaders had just discussed military and economic cooperation on the sidelines of the Eastern Economic Forum, an annual event held in this far-eastern Russian city. "The president and I agree that since the beginning of this year, Russian-Chinese relations have been showing dynamic growth," Xi said. He announced that ties with his "close friend" Putin had "entered a new era of rapid development and are reaching a higher level." It was the … [Read more...] about Russia, China embrace uneasily, aim for ‘desirable world order’