• Latest
  • Trending

China enlarges its footprint in South Asia

August 8, 2017
Ethiopian airlines flight misses landing as pilots fall asleep mid air

Ethiopian airlines flight misses landing as pilots fall asleep mid air

August 19, 2022
Colombo. Image credits - Jalitha Hewage @_llucifer_ / Unsplash

Land value in Colombo District accelerates in first half of 2022

August 19, 2022
Finnish PM Sanna Marin facing backlash over leaked party footage

Finnish PM Sanna Marin facing backlash over leaked party footage

August 19, 2022
Exchange Rate

Foreign Exchange Rates from Central Bank of Sri Lanka; USD, GBP, EUR, SGD, CAD

August 19, 2022
Emirates

Emirates airline suspends all flights to Nigeria

August 19, 2022
Kim Yo Jong, sister of North Korea's leader Kim Jong Un . Image credits - REUTERS/Jorge Silva/Pool/File Photo

North Korea tells South Korea president to ‘shut his mouth’ after offer of aid

August 19, 2022
Weather. Image credits - Wolfgang Hasselmann @wolfgang_hasselmann / Unsplash

Extreme heat is slamming the world’s three biggest economies all at once

August 19, 2022
Hadi Matar appears in court on charges of attempted murder and assault on author Salman Rushdie, in Mayville, New York, US, August 18, 2022. (Photo: Reuters)

Salman Rushdie attack suspect pleads not guilty to attempted murder, assault

August 19, 2022
Water cut. Image credits - Walter Randlehoff / Unsplash

10-hour water cut in areas of Colombo tomorrow

August 19, 2022
Apple

iOS 15.6.1—Update now warning issued to all iPhone users

August 19, 2022
Electricity

Power cut schedule today in Sri Lanka: 19th August

August 18, 2022
alcohol

Japan urges its young people to drink more to boost economy

August 18, 2022
  • About Us
  • Advertisements
  • Privacy Policy
  • Contact
Friday, August 19, 2022
No Result
View All Result
NewsIn.Asia
  • Home
  • Around South Asia
    • All
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
    Colombo. Image credits - Jalitha Hewage @_llucifer_ / Unsplash

    Land value in Colombo District accelerates in first half of 2022

    Exchange Rate

    Foreign Exchange Rates from Central Bank of Sri Lanka; USD, GBP, EUR, SGD, CAD

    Water cut. Image credits - Walter Randlehoff / Unsplash

    10-hour water cut in areas of Colombo tomorrow

    Electricity

    Power cut schedule today in Sri Lanka: 19th August

    Subscribe to our Telegram channel for the latest updates from around the world. Image credits - Jinan Times

    Fish tested amid Xiamen covid outbreak in China

    Oil

    Myanmar buys Russian oil as emerging markets take shunned supply

    dollar

    Amnesty period announced to deposit/sell foreign currency in the hands of public

    Veteran journalist Sugeeswara Senadhira appointed Lankan Prime Minister’s Media Advisor

    Veteran journalist Sugeeswara Senadhira appointed Lankan Prime Minister’s Media Advisor

    Austria donates essential medicines to Sri Lanka

    Austria donates essential medicines to Sri Lanka

  • World
    • All
    • Japan
    • Russia
    • United Kingdom
    • United States
    Finnish PM Sanna Marin facing backlash over leaked party footage

    Finnish PM Sanna Marin facing backlash over leaked party footage

    Emirates

    Emirates airline suspends all flights to Nigeria

    Kim Yo Jong, sister of North Korea's leader Kim Jong Un . Image credits - REUTERS/Jorge Silva/Pool/File Photo

    North Korea tells South Korea president to ‘shut his mouth’ after offer of aid

    Weather. Image credits - Wolfgang Hasselmann @wolfgang_hasselmann / Unsplash

    Extreme heat is slamming the world’s three biggest economies all at once

    Hadi Matar appears in court on charges of attempted murder and assault on author Salman Rushdie, in Mayville, New York, US, August 18, 2022. (Photo: Reuters)

    Salman Rushdie attack suspect pleads not guilty to attempted murder, assault

    Apple

    iOS 15.6.1—Update now warning issued to all iPhone users

    alcohol

    Japan urges its young people to drink more to boost economy

    Oil

    Myanmar buys Russian oil as emerging markets take shunned supply

    Inflation

    UK inflation tops 10%, highest since 1982

  • Business
  • Politics
  • Sports
  • Entertainment
    • All
    • Books
    • Gaming
    • Movie
    • Music
    • Series
    Raksha Bandhan to Laal Singh Chaddha: ‘Struggling’ Bollywood’s online hate problem

    Raksha Bandhan to Laal Singh Chaddha: ‘Struggling’ Bollywood’s online hate problem

    Marvel has unleashed the first look teaser of Black Panther 2.

    Black Panther Wakanda Forever: Marvel pays emotional tribute to Chadwick Boseman

    Stranger Things

    Netflix confirms ‘Stranger Things’ spinoff and play

    Kamal Haasan's Vikram is on a rampage.

    Kamal Haasan’s Vikram is the highest-grossing film in Singapore, UK and UAE

    Harry Potter and the Philosopher's Stone

    ‘Harry Potter and the Philosopher’s Stone’ celebrates 25 magical years

    Salman Khan

    Plot to kill Bollywood actor Salman Khan revealed

    Shah Rukh Khan's Jawaan, to be directed by Atlee, to scheduled for June 2023 release. (Photo: Twitter)

    Shah Rukh Khan announces new film ‘Jawaan’

    Chchutir diner Gaan by Bangladeshi singer Nondita

    Chchutir diner Gaan by Bangladeshi singer Nondita

    Song “Bechain Nazar Betaab Jigar”. Talat Mahmood. Film “Yasmin” 1955

    Song “Bechain Nazar Betaab Jigar”. Talat Mahmood. Film “Yasmin” 1955

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Science
    • Travel
    Austria donates essential medicines to Sri Lanka

    Austria donates essential medicines to Sri Lanka

    Digital. Image credits - Scott Graham @homajob / Unsplash

    In remote work and tech companies, job titles have gotten longer – and fancier

    Walk. Image credits - Arek Adeoye @areksan / Unsplash

    Why even 2 minutes of walking after a meal will improve your health

    Cheeseburger. Image credits - Alamy / BBC

    McDonald’s puts up price of cheeseburger for first time in 14 years

    WHO declares rapidly spreading monkeypox outbreak a global health emergency

    WHO declares rapidly spreading monkeypox outbreak a global health emergency

    Sushmita Sen. Image credits - Getty Images

    Sushmita Sen: Why ‘gold digger’ jibe caused outrage

    Honey. Image credits - Mariana Ibanez / Unsplash

    7 unique health benefits of honey

    alcohol

    Alcohol is never healthy for people under 40, study finds

    world’s happiest countries in 2022

    List of world’s happiest countries in 2022

    Emirates

    Emirates statement on operations at London Heathrow

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Tech
    Apple

    iOS 15.6.1—Update now warning issued to all iPhone users

    A view shows a bionic hand developed by COVVI, at Quayside Business Park in Leeds, Britain. (Photo: Reuters)

    Bionic hand can be updated with new gestures, anytime, anywhere

    FILE PHOTO: The Netflix logo is pictured on a television in this illustration photograph taken in Encinitas, California, U.S., January 18, 2017. REUTERS/Mike Blake/File Photo

    Disney overtakes Netflix in race for subscribers

    Samsung unveiled its new Galaxy Z Flip 4 and Z Fold 4 phones on Aug 10, 2022. (Photo: Samsung)

    5 things to know about Samsung’s new Galaxy Z Flip 4 and Galaxy Z Fold 4 foldable smartphones

    Image: WhatsApp

    WhatsApp’s new update makes it easier to avoid your friends

    Snapchat. Image credits - May Gauthier @maygauthier / Unsplash

    Snap launches tools for parents to monitor teens’ contacts

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Coronavirus
  • Videos
  • Home
  • Around South Asia
    • All
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
    Colombo. Image credits - Jalitha Hewage @_llucifer_ / Unsplash

    Land value in Colombo District accelerates in first half of 2022

    Exchange Rate

    Foreign Exchange Rates from Central Bank of Sri Lanka; USD, GBP, EUR, SGD, CAD

    Water cut. Image credits - Walter Randlehoff / Unsplash

    10-hour water cut in areas of Colombo tomorrow

    Electricity

    Power cut schedule today in Sri Lanka: 19th August

    Subscribe to our Telegram channel for the latest updates from around the world. Image credits - Jinan Times

    Fish tested amid Xiamen covid outbreak in China

    Oil

    Myanmar buys Russian oil as emerging markets take shunned supply

    dollar

    Amnesty period announced to deposit/sell foreign currency in the hands of public

    Veteran journalist Sugeeswara Senadhira appointed Lankan Prime Minister’s Media Advisor

    Veteran journalist Sugeeswara Senadhira appointed Lankan Prime Minister’s Media Advisor

    Austria donates essential medicines to Sri Lanka

    Austria donates essential medicines to Sri Lanka

  • World
    • All
    • Japan
    • Russia
    • United Kingdom
    • United States
    Finnish PM Sanna Marin facing backlash over leaked party footage

    Finnish PM Sanna Marin facing backlash over leaked party footage

    Emirates

    Emirates airline suspends all flights to Nigeria

    Kim Yo Jong, sister of North Korea's leader Kim Jong Un . Image credits - REUTERS/Jorge Silva/Pool/File Photo

    North Korea tells South Korea president to ‘shut his mouth’ after offer of aid

    Weather. Image credits - Wolfgang Hasselmann @wolfgang_hasselmann / Unsplash

    Extreme heat is slamming the world’s three biggest economies all at once

    Hadi Matar appears in court on charges of attempted murder and assault on author Salman Rushdie, in Mayville, New York, US, August 18, 2022. (Photo: Reuters)

    Salman Rushdie attack suspect pleads not guilty to attempted murder, assault

    Apple

    iOS 15.6.1—Update now warning issued to all iPhone users

    alcohol

    Japan urges its young people to drink more to boost economy

    Oil

    Myanmar buys Russian oil as emerging markets take shunned supply

    Inflation

    UK inflation tops 10%, highest since 1982

  • Business
  • Politics
  • Sports
  • Entertainment
    • All
    • Books
    • Gaming
    • Movie
    • Music
    • Series
    Raksha Bandhan to Laal Singh Chaddha: ‘Struggling’ Bollywood’s online hate problem

    Raksha Bandhan to Laal Singh Chaddha: ‘Struggling’ Bollywood’s online hate problem

    Marvel has unleashed the first look teaser of Black Panther 2.

    Black Panther Wakanda Forever: Marvel pays emotional tribute to Chadwick Boseman

    Stranger Things

    Netflix confirms ‘Stranger Things’ spinoff and play

    Kamal Haasan's Vikram is on a rampage.

    Kamal Haasan’s Vikram is the highest-grossing film in Singapore, UK and UAE

    Harry Potter and the Philosopher's Stone

    ‘Harry Potter and the Philosopher’s Stone’ celebrates 25 magical years

    Salman Khan

    Plot to kill Bollywood actor Salman Khan revealed

    Shah Rukh Khan's Jawaan, to be directed by Atlee, to scheduled for June 2023 release. (Photo: Twitter)

    Shah Rukh Khan announces new film ‘Jawaan’

    Chchutir diner Gaan by Bangladeshi singer Nondita

    Chchutir diner Gaan by Bangladeshi singer Nondita

    Song “Bechain Nazar Betaab Jigar”. Talat Mahmood. Film “Yasmin” 1955

    Song “Bechain Nazar Betaab Jigar”. Talat Mahmood. Film “Yasmin” 1955

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Science
    • Travel
    Austria donates essential medicines to Sri Lanka

    Austria donates essential medicines to Sri Lanka

    Digital. Image credits - Scott Graham @homajob / Unsplash

    In remote work and tech companies, job titles have gotten longer – and fancier

    Walk. Image credits - Arek Adeoye @areksan / Unsplash

    Why even 2 minutes of walking after a meal will improve your health

    Cheeseburger. Image credits - Alamy / BBC

    McDonald’s puts up price of cheeseburger for first time in 14 years

    WHO declares rapidly spreading monkeypox outbreak a global health emergency

    WHO declares rapidly spreading monkeypox outbreak a global health emergency

    Sushmita Sen. Image credits - Getty Images

    Sushmita Sen: Why ‘gold digger’ jibe caused outrage

    Honey. Image credits - Mariana Ibanez / Unsplash

    7 unique health benefits of honey

    alcohol

    Alcohol is never healthy for people under 40, study finds

    world’s happiest countries in 2022

    List of world’s happiest countries in 2022

    Emirates

    Emirates statement on operations at London Heathrow

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Tech
    Apple

    iOS 15.6.1—Update now warning issued to all iPhone users

    A view shows a bionic hand developed by COVVI, at Quayside Business Park in Leeds, Britain. (Photo: Reuters)

    Bionic hand can be updated with new gestures, anytime, anywhere

    FILE PHOTO: The Netflix logo is pictured on a television in this illustration photograph taken in Encinitas, California, U.S., January 18, 2017. REUTERS/Mike Blake/File Photo

    Disney overtakes Netflix in race for subscribers

    Samsung unveiled its new Galaxy Z Flip 4 and Z Fold 4 phones on Aug 10, 2022. (Photo: Samsung)

    5 things to know about Samsung’s new Galaxy Z Flip 4 and Galaxy Z Fold 4 foldable smartphones

    Image: WhatsApp

    WhatsApp’s new update makes it easier to avoid your friends

    Snapchat. Image credits - May Gauthier @maygauthier / Unsplash

    Snap launches tools for parents to monitor teens’ contacts

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Coronavirus
  • Videos
NewsIn.Asia
No Result
View All Result
Home Around South Asia

China enlarges its footprint in South Asia

Editor by Editor
August 8, 2017
in Around South Asia, Around The World, Business, China, Top Story
Reading Time: 4 mins read
3 0
A A
Share on WhatsApp

China is increasing its footprint throughout South Asia, with global power United States under Donald Trump becoming inward looking, and regional power India being hamstrung by financial constraints and bilateral political issues bedeviling  relations with its South Asian neighbors, writes P.k.Balachandran in Daily Mirror.

Technically, the Sino-Lankan Concessional Agreement of July 29 over the funding and management of the US$1.4 billion Hambantota port could be changed after the parliamentary debate on it on Tuesday. But no substantive change is envisaged, given the fact that two agreements on the port have been signed already.

As per the latest “Concessional Agreement” the Chinese company, China Merchant Port Holdings Company (CMPort), will have 70% stake and the Sri Lanka Ports Authority (SLPA) 30% in the port. CMPort will be taking the port on a 99 year lease, though there are provisions for SLPA to take a majority share in later years, if it can afford it.

ADVERTISEMENT

However, the reality is weighted in favor of CMPort. The share holding structure is such that the Chinese company will, in actual fact, have a majority stake in both the special vehicle companies set up for the management of the port and not just in one, as claimed by the government.

Nominally, the SLPA has more shares in the Hambantota Port Service Company (HIPS) which handles operations and security. But if one takes into account the fact that 8.7% of SLPA’s shares in it come from the Hambantota International Port Group Company (HIPG) in which CMPort has 85% of the shares, the SLPA’s hold is less than CMPort’s. Further, the business side of the port is to be handled by HIPG and there, 85% of the shares are with CMPort.

All this has been done to get a mere US$ 1.12 billion, which the Sri Lankan government says is necessary to pay back existing debts. But many do not think it is a valid argument for “selling family silver” or bartering away a national strategic asset.

The earlier “Framework Agreement” signed in December 2016, gave CMPort 80% stake. It also had the right to use the port for any purpose, including military use  – a right denied in the July 29 Concessional Agreement. But the present deal is still very good for China. No wonder, the Executive Vice President of China Merchant Group had no hesitation is declaring that the Hambantota port will be part of Beijing’s grand  One Belt One Road (OBOR) global communication project.

China, which has already built and is running the Colombo International Container Terminal profitably in collaboration with the SLPA, now has two ports in Sri Lanka as part of the OBOR. And it is now looking to have an industrial zone adjoining the Hambantota port.

Though this zone will be nominally open to investors from anywhere in the world, it is likely to be a Chinese zone, essentially. The Chinese Ambassador in Sri Lanka, Yi Xianliang, is fixated on getting Chinese investors and in view of their coming in large numbers, he has proposed the setting up of a Sino-Sri Lankan University to train professionals. He is aiming to provide 50,000 jobs to trained Sri Lankans.

China has already built roads, a coal fired power plant  and seven star hotels and is sending students and MPs to China for educational tours to get them to take a favorable view of China.

China has an advantage over its regional rival, India, in so far as, it does not have any bilateral issues arising from geographical proximity, such as the Tamil problem or the fishing issue. This predisposes Sri Lankans to view China more favorably and with less apprehension than they view India. Therefore, it is likely that the Sri Lankan  parliament and the population at large will give the green signal to the agreement on Hambantota port despite its obvious disadvantages from the broader and long term perspective.

Pakistan          

In Pakistan, China has already overtaken the US to be the top most investor. As per the latest figures, China is going to spend US$ 62 billion on the multi-dimensional China Pakistan Economic Corridor (CPEC) which includes the already constructed deep water port at Gwadar.

The US$ 500 million US investment in Pakistan between 2013 and 2017, pales in comparison with Chinese investment of US$ 1.83 billion. Seventy seven Chinese firms are already in Pakistan and many more are to come as part of CPEC.       

Bangladesh

Sino-Bangladesh bilateral trade amounts to US$ 6.8 billion, but it is heavily weighted in favor of China, with Bangladesh exporting only US$ 401 million. However what Bangladesh wants and is getting from China, is investment, especially in textiles, energy and power, pharmaceuticals, communications and infrastructure development.  And China has been quick to seize the opportunity.

In March, China granted Bangladesh US$ 23.8 million for vital projects.  Additionally, US$ 133 million has been provided as a soft loan for the setting up of a project aimed at bringing all government offices across the country under one network. In May, China expressed its interest in investing in Bangladesh’s beleaguered apparel industry.

In June, Dhaka accepted a Chinese proposal for the construction of a transnational highway, connecting the Indian state of West Bengal and the southwestern Chinese city of Kunming, via Myanmar and Bangladesh.

The six Bangladesh-China Friendship Bridges built with Chinese assistance, the multipurpose Padma rail-road bridge, the Bangabandhu International Conference Centre in Dhaka, the Barakpuria coal mine and coal-based electricity generation, the Shah Jalal fertilizer factory, and upgrading of mobile networks for the introduction of 3G technology, exploration rights at the Barakpuria coalmines   are other Sino-Bangladeshi projects worth mentioning.

Bangladesh has also given Chinese naval vessels access to Chittagong port, which worries India. Bangladesh has formally joined Beijing’s mega project OBOR.

Nepal

In Nepal, 108 projects have been started with a Chinese investment of around Rs 29.80 billion (US$ 284 million). The energy sector, with three projects, has got the highest Chinese investment. And like Bangladesh, Nepal has joined China’s OBOR.

India

Locked up in a border conflict and also over Tibet since the 1950s, India- China economic relations have never been optimal. Chinese investment in India is low but Chinese goods  have come to dominate the Indian market, which is reflected in the yawning trade deficit.

In a way, China’s footprint on India is large despite the conflict. Calls for boycott of Chinese goods in the wake of the on-going border conflict at Doklam, have not affected the inflow of Chinese goods including consumer goods.

In 2016, India-China bilateral trade was US$ 71 billion But India’s  trade deficit with China was US $ 46.56 billion and India’s exports have continued to decline. On the other hand, China’s exports to India totaled to $58.33 billion in 2016, registering an increase of 0.2% over the figure in 2015.

(The featured image at the top shows Chinese built port at Gwadar in Pakistan.Photo. News International) 

 

 

 

 

Related Posts

Colombo. Image credits - Jalitha Hewage @_llucifer_ / Unsplash
Around South Asia

Land value in Colombo District accelerates in first half of 2022

August 19, 2022
Finnish PM Sanna Marin facing backlash over leaked party footage
Around The World

Finnish PM Sanna Marin facing backlash over leaked party footage

August 19, 2022
Exchange Rate
Around South Asia

Foreign Exchange Rates from Central Bank of Sri Lanka; USD, GBP, EUR, SGD, CAD

August 19, 2022
Emirates
Around The World

Emirates airline suspends all flights to Nigeria

August 19, 2022
Kim Yo Jong, sister of North Korea's leader Kim Jong Un . Image credits - REUTERS/Jorge Silva/Pool/File Photo
Around The World

North Korea tells South Korea president to ‘shut his mouth’ after offer of aid

August 19, 2022
Weather. Image credits - Wolfgang Hasselmann @wolfgang_hasselmann / Unsplash
Around The World

Extreme heat is slamming the world’s three biggest economies all at once

August 19, 2022
  • Electricity

    Power cut schedule today in Sri Lanka: 19th August

    49568 shares
    Share 19840 Tweet 12387
  • Registration open for National Fuel Pass

    6551 shares
    Share 2658 Tweet 1622
  • Foreign Exchange Rates from Central Bank of Sri Lanka; USD, GBP, EUR, SGD, CAD

    1412 shares
    Share 571 Tweet 350
  • WATCH : Yohani’s first live performance in India

    785 shares
    Share 327 Tweet 191
  • Power interruption schedule released: Check your area power cut time

    734 shares
    Share 312 Tweet 176
  • About Us
  • Advertisements
  • Privacy Policy
  • Contact

© 2022 All rights reserved.

No Result
View All Result
  • Home
  • Around South Asia
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
  • Around The World
  • Breaking News
  • Business
    • Exchange
  • Climate Change
  • Governance
    • Crime
    • Diplomacy
    • Defense
    • Human Rights
    • Politics
    • Strategic Affairs
  • Lifestyle
    • Books
    • Entertainment
      • Arts
      • Cinema
      • Gaming
      • Music
      • Movie
      • Series
      • TV
    • Health
    • Fashion
    • Food
    • Travel
  • Culture
    • Ethnicity
    • Gender
  • Development news
  • Economy
  • Education
  • Environment
  • Coronavirus
  • History
  • National
  • Offbeat
    • Media
    • Music and arts across South Asia
  • Recommended
    • Headlines
    • Highlights
    • Top Picture
    • Top Story
  • Religion
  • Science
  • Sports
    • Football
    • Cricket
      • LPL
      • IPL
    • Tennis
    • Formula 1
    • NBA
  • Tech
    • Instagram
  • United Nations
  • Weather
  • World
    • Japan
    • Russia
    • United States
  • Videos

© 2022 All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

mersin eskort - eskisehir escort -

https://www.vudols.com/

- Sağlık Personeli - istanbul avukat