Chinese Economics Thread

Franklin

Captain
When China does something it does it big.

Tech More: Reuters China Internet Reuters Tech

China will spend $182 billion to boost internet speed by the end of 2017

China will spend more than $182 billion to boost Internet speeds by the end of 2017, a top government body said, as Beijing moves towards a more service-driven economy to boost growth.

The State Council said the government will invest more than 430 billion yuan ($69.3 billion) this year on network construction, with at least another 700 billion yuan ($112.8 billion) spent over the following two years.

The goal is to accelerate the development of fiber optic broadband and high speed 4G mobile networks, the governing body said on its website.

China ranked 82nd in the world for average Internet connection speed, slower than Malaysia, Thailand and Taiwan, according to cloud computing services provider Akamai's State of the Internet report for the fourth quarter of 2014.

Improving that standing is crucial for the world's second largest economy, which is experiencing the slowest growth in decades and is seeking to diversify away from low-tech manufacturing and development.

On Tuesday, China unveiled a vision for the next stage of its economic ascent, moving from low-tech manufacturing to advanced industry in areas such as space, e-commerce, green energy and bioengineering by 2025.

Premier Li Keqiang has also already identified the Internet and technology as vital catalysts for the shift towards an economy centered around services.

China's three state-owned wireless carriers are also on board. Last week, China Mobile Ltd, China Unicom (Hong Kong) Ltd and China Telecom Corp Ltd said they would cut mobile data prices and boost data speeds this year, potentially spurring a mass migration of customers to more lucrative 4G contracts.

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Equation

Lieutenant General
BEIJING (Reuters) - China and Peru have agreed to study the feasibility of a controversial 5,300 km (3,300 miles) transcontinental railroad that will connect Peru's Pacific coast with Brazil's Atlantic coast, China's official Xinhua News Agency reported.

The agreement came as Chinese Premier Li Keqiang arrived in Peru, on the third leg of a Latin America visit. This week, Brazil and China agreed on a feasibility study for the rail link.

The proposed railway would span the Andes to the Pacific and reduce the cost of shipping grain and minerals to Asia. China and Latin America would each benefit from the project by upgrading infrastructure, while allowing China to export its "industrial capacity" and investment, the news agency said.

In January, Chinese President Xi Jinping pledged $250 billion in investment in Latin America over the next 10 years as part of a drive to boost resource-hungry China's influence in a region long dominated by the United States.

Li oversaw a raft of agreements during his visit to Brazil this week, ranging from a $1 billion purchase of passenger jets made by Brazil's Embraer to the lifting of an export ban on Brazilian beef.

Li, who arrived in Peru on Friday, is scheduled to hold talks with Peruvian President Ollanta Humala and attend a joint news conference. He will later travel to Chile.
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delft

Brigadier
New Silk Road Could Change Global Economics Forever

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It could hardly be otherwise. But the writer has a remarkably slender grip on geography. To give just one, blatant, example:
Not surprisingly, India, a US ally, countered China's initiative with one of its own, announcing a new agreement to build a port in Iran on the Arabian Sea, only a few hundred miles from Gwadar, bringing Iranian energy to India via Afghanistan, bypassing Pakistan.
 

Equation

Lieutenant General
China last month dashed the island's hopes of becoming a founding member of the Asian Infrastructure Investment Bank (AIIB), though a Chinese foreign ministry spokesman said at the time it could join under an "appropriate name".

The issue was raised as Zhang, director of China's Taiwan affairs office, met Andrew Hsia, chairman of Taiwan's top China policy decision-making body, the Mainland Affairs Council, in Kinmen -- a Taiwan-administered island off China's Xiamen city.

"The mainland side again voiced their welcome to our desires of attending AIIB," the council said in a statement after the meeting.

China and Taiwan split at the end of the civil war in 1949 when the Kuomintang fled the mainland after a defeat at the hands of the Chinese Communist Party. But Beijing still regards the island as a province awaiting reunification.

As a result, China routinely opposes moves by Taiwan to join international organisations, arguing it is not a country.

Earlier this month, the head of Taiwan's ruling Kuomintang party (KMT) Eric Chu said he remained "optimistic" about joining the bank and proposed joining under the name "Chinese Taipei".

Trade agreements, the opening of liaison offices and joint efforts to battle crimes were also discussed during the meeting, which is part of a two day visit by Zhang.

In his opening speech, Hsia hailed the significance of the meeting at Kinmen, which was the scene of a fierce 44-day bombardment by the Chinese army beginning on August 23, 1958, which killed 618 servicemen and civilians and injuring more than 2,600.

- Angry protests -

Zhang's visit was met by angry members from the anti-China Taiwan Solidarity Union (TSU) who waved placards and shouted, "Oppose Hsia-Zhang meeting! Taiwan interests betrayed!"

The demonstration turned violent after a TSU protester hurled a smoke grenade at Zhang's motorcade leading to a confrontation with around 20 China supporters who pushed their way through the police line that separated the two groups, police said.

Five people were injured with four of them hospitalised, police said, adding that one pro-China protester was also arrested.

"Taiwan is a democratic country, any use of violence should be strongly condemned," Hsu Ya-chi of TSU told AFP.

Tensions between Taiwan and China have decreased markedly since 2008 after Ma Ying-jeou of the China-friendly KMT came to power promising to beef up trade and tourism links.

But recently public sentiment in Taiwan has once again turned against closer ties with Beijing, with voters saying trade deals have been agreed in secret and have not benefited ordinary citizens.

In March last year, around 200 students occupied parliament for more than three weeks to demonstrate against a controversial services trade pact, while thousands rallied in support of what became known as the "Sunflower Movement".

The KMT suffered its worst-ever showing in local polls in November -- seen as a barometer for presidential elections in 2016 -- with its Beijing-friendly policy blamed for alienating voters.

Despite the setback, the embattled Ma has repeatedly defended the rapprochement with China, saying it has turned Taiwan Strait, once one of the flash points in Asia, into a peaceful area.
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Equation

Lieutenant General
Don't be surprise if China will one day plans to do one in the African continent as well.;)

A Chinese scheme to build an east-west railway across South America, cutting across parts of the Amazon rain forest, has moved a step closer after Peru agreed to study the proposal.

The scheme would link Peru's Pacific coast with Brazil's Atlantic shores.

The decision came after talks between the Chinese Prime Minister Li Keqiang, and Peruvian President Ollanta Humala.

If completed, the railway would stretch 5,300km (3,300 miles) but campaigners fear the impact on indigenous people.

Brazil, China and Peru will now begin feasibility studies into the railway.

Mr Li secured Brazil's consent earlier this week, as part of his tour of Latin America.

The railway would "consolidate Peru's geopolitical position as a natural gateway to South America", President Humala said.

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For China, it would reduce the cost of shipping raw materials and farm products.

But campaigners are concerned it might destroy untouched parts of the Amazon rainforest, affecting hundreds of indigenous communities.

Mr Li sought to ease fears, saying "to create the infrastructure, it is necessary to protect the environment" in a declaration with Mr Humala, AFP reported.

It is likely to cost more than $10 billion (£6.5 billion). The route is still being examined, but would begin in the gigantic Brazilian port of Acu and ending at a Peruvian port.

The Chinese President, Xi Jinping, pledged earlier this year to invest $250 billion (£161 billion) in Latin America over the next decade.
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balance

Junior Member
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Will Australian modify its position with regard to the stationing of US bomber in the light of this China-Brazil development? How much does Australia depend on China-related business?
 
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