Chinese Economics Thread
- Thread starter Norfolk
- Start date
December 01, 2015
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Three firms - CRG's China Railway International Group, a subsidiary of national operator China Railway Corporation and the Hungarian State Railways - will form a consortium to construct the 160 kilometre route, CRG said in a statement on Wednesday.
The railway, which will be 350 kilometres long with the Serbian portion, will be completed in two years and will be able to accommodate trains travelling up to 200 kilometres per hour, it said. The Chinese firms will account for 85 percent of the consortium, it said, without providing further details.
will start in Budapest, via Belgrade and Skopje to Athens. The Budapest-Belgrade railway will be finished in two years. Planned speed is 160 km/h between Budapest and Belgrade, current line between Thessaloniki and Athens is 200 km/h with upgrades to 250 km/h ongoing.
concession to upgrade and run two container cargo piers -- into a regional hub for trade with Europe.
China sees the region, comprising some of the EU's newest members and others in the Western Balkans that are trying to join the bloc, as a potentially lucrative market and bridgehead to the wider EU, drawn by relatively low wages, educated workforces and scope for development on the EU's fringes.
SamuraiBlue
Captain
This might give you a better prospective.
The collective share of EU doesn't go beyond 20% where as the amount of shares of US and Japan combined is more than 24%.
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Equation
Lieutenant General
On second thought, I don't know why I'm congratulating. The SDR is the one world currency the advent of which we all fear.
LOL...I believe that suppose to be the Illuminati symbol.
janjak desalin
Junior Member
Trying a better-formatted post of my recommendations for the expansion of the SDR Basket. My criteria for inclusion, based on % of world GDP, were ≥ ~3% for the first expansion, ≥ ~2% for the second expansion, and ≥ ~1% for the third expansion and any subsequent to it. Over the course of these expansions, the SDR Basket increases in inclusiveness from four to sixteen currencies and from ~73 to ~84 % of the world GDP. Talk about democratization!!!
It didn't work!
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Equation
Lieutenant General
But the administration suffered a humiliating diplomatic defeat last spring when most of its closest allies signed up for the bank, including Britain, Germany, Australia and South Korea. Altogether , leaving the United States and Japan on the outside.
The calculation for joining is simple. China, with its vast wealth and resources, now rivals the United States at the global economic table. That was confirmed this week when the as one of the world’s elite currencies, alongside the dollar, euro, pound and yen.
Countries are finding they must increasingly operate in China’s orbit. And backing the new bank would bring financial advantages, as well as curry favor with Beijing. While many countries had similar doubts as the United States, they figured they could just shape the organization from the inside.
The new bank “is an instrument for China to lend legitimacy to its international forays and to extend its sphere of economic and political influence even while changing the rules of the game,” said Eswar Prasad, former head of the China division at the and a professor at Cornell University. “And it gives the existing institutions a kick in the pants.”
The Chinese-led institution, the , is now in the process of picking its first projects. The choices, expected to be announced in coming months, will provide insight into how China plans to wield its power.
Either China is serious about taking a leadership role in the global economy and prioritizing projects that broadly benefit Asia, or it plans to use the bank as a conduit to further its own ambitions.
So far, China appears to be navigating the two extremes. It is assuaging critics by compromising on issues like board makeup, project oversight and procurement. But China is hardly yielding control, raising concerns about where the bank will land on issues like climate change and labor rights. The bank, for example, is still weighing whether to approve coal-fired power plants.
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China is taking direct aim at the current development regime, the system established under the leadership of the United States after World War II to help stabilize currencies and promote growth.
Photo
President Xi Jinping wants to expand Beijing’s global role.CreditStephane De Sakutin/Agence France-Presse — Getty Images
Beijing officials say they want to take a faster approach than their counterparts at the, the International Monetary Fund and the Asian Development Bank. The new bank, China promises, will not be bogged down in oversight.
It's a pretty long article but you can read the rest here:
janjak desalin
Junior Member
Hopefully, they'll invest in some Indigenous American development projects, in both hemispheres (but, especially in the US).