ntal programs and inaugurated several large-scale infrast

projects, including highway, railway, airport and power stations. However, in the face of local protests, the effectiveness of Modi’s economic package, delivered just a few months before the

election, seemed very suspicious. Interestingly, because of the tremendous opposition against the Bill and the frustrating situation on the g

round, BJP’s top local politician who was defending the bill changed his tune almost as soon as Modi left.

Clearly, Modi’s twin election trick, which comprised both nationalistic and developmental ele

ments, was clearly at work during his visit to disputed South Tibet. However, sacrificing the pa

instakingly earned mutual trust and progress in Sino-Indian relations for the sake of ephemeral political benefits seems unwise.

Even though India and China have so far held 21 rounds of talks to resolve the border dispute, and Modi and President Xi have met at least four times in 2018 to bring b

ilateral ties back on a stable footing, the border issue remains the single-most sensitive topic between the two countries. While

the dispute between China and India remains too large to be resolved altogether, both sides would better carefully manage it.

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Second, out of expectations of politicians from powerful

countries, who claim their nations represent public interest, globalism is becoming a tool in the fight between capitalist forces an

d national will. As a result, state power is eroded by capital, leading to alienation and political strains in some countries.

It is believed that some countries cannot bear the negative effects of globalization. The main reason for t

his is that capital is equipped with increasingly powerful characteristics that weaken nations’ capa

bility to control their capital and eliminates sovereign states’ ability to embody the will of the people.

The hit on state power by capital not only leads to financial chaos, triggering financial and economic crise

s, but can also generate social and political woes. Western countries’ easing financial regulations resulted in the 2008 financial c

risis. In recent years, developed countries are experiencing increasing economic and political challenges, which a

ctually are extensions of the 2008 financial crisis. Some of them are yet to be addressed.

Economic liberalization faces challenges in the developed and developing world.

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The actual reason for flaws in practice is that globalism needs

 unified global political will, which is difficult to find amid large sovereign nations. Hence, there is a huge gap between ideal globalism and its practice. Sovereign states should try to spare room for g

lobalism. Globalization is required by people and cannot be reversed at will. On the other hand, globalization has to take i

nto account the political reality of mass sovereign countries. The goals and agenda need to be limited within the flexible boundary of sovereign nations. Ot

herwise, it would disrupt some countries’ political and economic setup, breeding social antagonism.

In the era of exacerbating confusion, globalization may be not as appealing as before, but it is u

ndesirable to discard globalism, which has boosted the development of global economy and fought

common problems. In a highly connected and almost irreversible world, simply retreating to nationalism will generate nothing but disaster. We can

hold a selective attitude toward globalization. The part of judging from the perspective of strong nations’ i

nterests and submitting to capital is not advisable. The globalization we desire is to serve the interest of all people and

match the political system of sovereign countries. On the whole, what we need is a revised globalization.

ashkk.com

Philippines advised to treat Chinese firms fairlyortedly interes

Two Chinese companies are reportedly interested in buying the Philippines’ largest shipyard, once an important US naval base in the Pacific region. Some Phi

lippine politicians have expressed concern over a possible Chinese takeover, saying it will be a very significant national security issue.

An unexpected dilemma is brewing in the Philippines. Since the start of the presidency of Rodrigo Dutert

e, a marked warming of bilateral ties has stoked Chinese firms’ enthusiasm for investing in the Southeast Asian country. In 2018,

China’s outbound investment in the Philippines rose by more than 8,000 percent from a year earlier.

With the Belt and Road Initiative (BRI), China hopes to shore up economic cooperation and let count

ries and regions along the routes share the dividends of China’s growth. Most countries don’t want to miss the o

pportunity, the Philippines being no exception. If the Philippine government bans Chinese companies from buying the s

hipyard from its current South Korean owner, it will hit Chinese people’s enthusiasm for investing in the country.

However, the explosive growth of investment has triggered concern over China’s increasing presence in the Pacific r

egion. The mass migration of Chinese to Southeast Asia has a long history, and anti-Chinese sentiment has been floating in

those countries. An increased Chinese presence will perhaps intensify anti-Chinese sentiment and complicate the issue.

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The 67-year-old princess, the eldest daughter of the late King

Bhumibol Adulyadej and sister of the present King, married an American and relinquished her title in 1972. After returning to Th

ailand in 2001 following her divorce, she resumed royal duties and enjoyed prestige among the Thai people, although her royal title has not yet been restored.

Around 20 military coups have taken place in Thailand since the country became a constitutional mo

narchy in 1932. The Constitution was also amended in 2017 during the military government’s rule.

In this context, the Thai Raksa Chart party (Thai Save The Nation, or TSN) tried to break the v

icious circle in Thailand’s politics by nominating Ubolratana as the prime ministerial candid

ate. The probability of her winning the election would have been high if she were allowed to contest. Her victory would have brought back political sta

bility to some extent. TSN is linked to former Thai leader Thaksin Shinawatra, who enjoys popular appeal in the country. Thaksin carried out several pol

icies that benefited the grass roots and won him their support. Even though he was ousted in 2006, his influence remains strong.

In the upcoming election, I believe pro-Thaksin parties can still have high public app

roval ratings. But considering the latest military-drafted constitution which gives considerable

rights to bureaucrats and military, it is still not known whether a pro-Thaksin politician can be elected prime minister.

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Thailand’s political changes mirror those of Southeast Asiawhich

 is a region in transition. Since the beginning of the 21st century, thi

s region has come across political struggle between new capitalistic groups and old b

ureaucratic factions, as well as political turmoil as a result of the huge gap between the rich and poor.

Indonesia is also going to hold a presidential election in April. These upcoming electi

ons have sent a clear signal that Southeast Asian countries long for political stability and development.

The Thai election can give confidence to other countries in the region. After all, with very few exc

eptions, the junta can return power to the people through elections.

As for China-Thailand relations, historically, no matter which

government came to power after several coups, the direction of bilateral ties has never chang

ed. The cooperation between China and Thailand has become the common  aspiration  of the  two peoples and is in their mutual interest.

hnxkmh.com

It is natural that Europeans consider more of their own

interests, but they should stick to justice in major affairs otherwise double standards will prevail.

Europe does not feel any threat from China’s missiles. In security, Europe is caught in the middle of Moscow and Washington.

Europe is not the source of China’s security pressure. But Germany has dragged China into its own security pli

ght, which not only damages China’s interests, but also leads Europeans in the wrong direction for their security concerns.

Globalization has remolded the existing power pattern and will also change the world’s political landscape. The era that Europe’s interest

s are tied with the Western camp is ending. America First will become the dominant principle in tr

ans-Atlantic ties. Europe is destined to fall behind the US and needs to recalculate its orientation.

As the world’s second largest economy, China needs defense capabilities which should be more powerful than it has now so as t

o build peace in the Asia-Pacific region and beyond. A peaceful and stable Asia-Pacific region will benefit Europe.

The Asia-Pacific is far from reaching a balance of power. Germans are clear abo

ut the wide gap between the Chinese and US militaries. Merkel’s words are nothing but a bubble in thin air.

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ooperation will bring benefits to the two countries while

conflicts will injure both sides, he added.Xi called China-US ties one of the world’s most important

bilateral relationships, and the two countries have wide common interests a

nd shoulder important responsibilities in safeguarding world peace and promoting global prosperity.

Maintaining the healthy and stable development of the China-US relationship is in line with the fundamen

tal interests of the people of both countries, and it is also the common wish of the international community, Xi said.

Xi mentioned his latest meeting with US President Donald Trump on the sidelines of the G20 Leaders

Summit in Argentina in December, saying that the two leaders reached important consensuses.

The two countries should promote building stable, cooperative and coordinative Chi

na-US relations, Xi said. The two sides should enhance communication, focus on cooperation a

nd handle disputes to promote economic and trade cooperation, Xi added.

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he increased bank lending could match the real econom

The monetary authority has rolled out a series of policies in recent mont

hs to ensure adequate liquidity in the financial sector and accelerated loan issuance to co

mpanies. The measures include a new lending facility, called the targeted medium-term lending facility, which was in

troduced in December to encourage commercial banks to increase lending to small and private firms.

The central bank further cut the required reserve ratio for financial institutions by 1 percentage point in January and inj

ected another 800 billion yuan of capital into the market. That followed four reserve ratio cuts last year.

Supported by the liquidity, the average interest rate in financial mark

ets had already declined by January, which actually provided much cheaper funding t

o commercial banks and borrowers in the corporate sector, Sun said.

Accompanied by the credit boost, growth of the broad money sup

ply, or M2, accelerated in January to 8.4 percent from 8.1 percent at the end of December, t

he central bank said. Government bond issuance, meanwhile, has also picked up since the start of this year.

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urope needs economic cooperation, not blind suspicion

Austria’s technology ministry has called on Europe to form a joint position on whether or not to allow Chinese firm Huawei to equip 5G for next-generation mobile networks. This consideration co

mes amid the US-hyped security concerns over Huawei and Washington’s relentless efforts to thwart the 5G efforts of this leading tech company.
5G

will be one of the most critical components of the digital economy and society, not only in China but also Europe. Europe has taken significant ste

ps to lead global developments toward this strategic technology. To reposition itself as a leader in world affairs including the field of technology, Europe h

as no reason to reject cooperation with Huawei which has developed the most advanced 5G technology, disregarding u

nwarranted US claims.
Europe is caught in the middle. While the continent treads carefully between China an

d the US, what is at stake is its own interests. As China tries to offer a cooperative approach, Europe, a longtime US ally, is hesi

ant to accept. The Belt and RoadInitiative proposed by China presents tremendous opportunities in terms of trade and g

rowth, while skepticism lingers in Europe about the geopolitical ambition the initiative may harbor.
Ob

servers believe that the funds allocated by the EU will fall way short of what is really needed. The EU will allocate funding for this project in its ne

xt multiannual budget, which will stretch from 2021 to 2027, but can Europe afford to wait till then to walk out of its current plight?

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