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Russia, China to sign new 30 year gas deal via 2nd route

The BRICS Post | September 18, 2014

Russia plans to sign a 30-year gas supply contract with China via the western route, Russian energy giant Gazprom’s CEO Alexei Miller told President Vladimir Putin on Wednesday. The route to supply gas to China via western Siberia may be implemented faster than the eastern route, through which Moscow has agreed to ship the fuel to its Asian neighbor in May.

“Gazprom plans to sign a contract to supply China with 30 billion cubic meters of natural gas via western route over thirty years,” Miller said.

The China-Russia West Route natural gas pipeline project connects gas deposits in Western Siberia and the northwestern part of China via Russia’s Altai region, securing the world’s top energy user a major source of cleaner fuel.

The potential of this route is “enormous”, the Gazprom CEO told the Russian President.

“It is even greater than in Eastern Siberia and, without a doubt, we can increase the volume of gas supplies very quickly via the western route, depending on the growth in demand in the Chinese market,” said Miller.

Gazprom is to sign the 30-year contract with China National Petroleum Corporation (CNPC) in November. The deal will directly link Russia’s huge gas fields to Asia’s booming market for the first time.

Miller also said Gazprom might consider more than doubling the volume of supply.

“We plan to sign a contract for a volume of 30 billion cubic metres for 30 years, though the talks have also looked at other figures for new contracts concluded for the western route. We are looking at the possibilities for supplying 60 billion cubic metres or up to 100 billion cubic metres of gas to China,” Miller told Putin in Moscow.

China and Russia signed a $400-billion gas supply deal in May this year, opening up a new market for Moscow as it risks losing European customers over the Ukraine crisis.

The Russian part of the joint venture pipeline, officially dubbed “Power of Siberia”, will be built by Gazprom with a total investment of $55 billion.

Construction of the China- Russia East Route natural gas pipeline started this month in this eastern Siberian city of Yakutsk.

TBP and Agencies

September 18, 2014 Posted by | Economics | , | Leave a comment

China, Russia to jointly face external challenges: Xi

The BRICS Post | September 11, 2014

Chinese President Xi Jinping and his Russian counterpart, Vladimir Putin, met in Dushanbe, capital of Tajikistan, on Thursday ahead of the 14th summit of the Shanghai Cooperation Organization (SCO).

The two allies discussed “pressing issues of bilateral cooperation, particularly in energy, aircraft engineering and infrastructure”, said a Kremlin statement.

It is the fourth meeting in 2014 between the two leaders.

Chinese President Xi Jinping said during Thursday’s meet that the leadership of the two nations will “jointly face external challenges”.

“I am ready to maintain further contacts with you to strengthen mutual support and expand openness between our countries, so that we could always draw from each other’s support, jointly face external challenges and achieve our grand development and revival goals,” said Xi.

Earlier last week, China put its weight solidly behind Russian President Vladimir Putin’s seven-point peace plan for Ukraine, even as the EU prepared another wave of sanctions targeting Russia’s banking and energy sectors.

The Russian President on Thursday lauded the milestone deal signed earlier this year in May, the $400-billion gas supply deal between the two countries, securing the world’s top energy user a major source of cleaner fuel.

“This was done with the direct support of the President of China. Now we have practically begun its implementation, which, I am certain, will proceed in the same business-like manner and will be efficiently carried through by both parties – Russia and the People’s Republic of China,” said Putin on Thursday in Dushanbe.

The deal opened up a new market for Moscow as it risks losing European customers over the Ukraine crisis.

Putin’s “personal friendship” with the Chinese President is a political triumph for the Russian President even as Western leaders step up attempts to isolate Putin internationally over Russia’s alleged support to pro-Moscow rebels in eastern Ukraine.

“We are making headway in other traditional areas of cooperation as well, including nuclear power, aircraft engineering, infrastructure and so forth,” Putin said on Thursday.

Xi said Beijing and Moscow have overseen new progress in the joint development of long-haul jumbo jets and heavy helicopters, as well as other major joint projects.

“Early this month you personally took part in the ceremony to launch the construction of the Power of Siberia gas pipeline, which shows how seriously you take the expansion of Chinese-Russian energy cooperation,” Xi told Putin.

“We have set up an intergovernmental Chinese-Russian commission on investment cooperation. We are actively considering cooperation in the construction of high-speed railways. We have launched cooperation in satellite navigation systems, which you personally have given great attention to,” he added.

Xi and Putin had also held talks in July in Brazil during the 6th BRICS Summit.

Xi has held talks or met with Putin for nine times since he assumed the office of China’s President in March 2013, testifying to stronger and more assertive Sino-Russian relations.

In a major highlight of an investment meet on Tuesday, Moscow and Beijing have entered into a pact to boost use of the rouble and yuan for trade transactions.

During its maiden meeting in the Great Hall of the People in Beijing, the Russia-China Investment Cooperation Commission discussed 32 bilateral investment projects on Tuesday, Russia’s Deputy Prime Minister Igor Shuvalov said.

Both Xi and Putin will now attend the 14th summit of the SCO slated for Thursday and Friday in the Tajik capital.

TBP

September 12, 2014 Posted by | Economics, Solidarity and Activism | , , | Leave a comment

Russia launches China UnionPay credit card

RT | August 15, 2014

Forget Visa and MasterCard. After the two American credit system payment companies froze accounts without notice in March, Russia has been looking for an alternative in China UnionPay.

China UnionPay plans to have 2 million cards in Russia in the next three years.

Instead of seeing the small Visa and MasterCard logo on credits cards, ATMs, and retail outlets, Russians will start to see the three words “China. Union. Pay.”

China UnionPay first emerged in 2002 on the domestic Chinese market as an alternative to Visa and MasterCard, but quickly expanded internationally, and now is already number one in terms of quantity of cards in the world.

Russia’s biggest banks – VTB- Gazprombank, Promsvyazbank, Alfa Bank, MTS, and Rosbank- are already making technical preparations, running tests on Union Bank cards.

“VTB24 already serves China UnionPay cards in its ATM network and now the bank is in negotiations with this payment system to start acquiring retail merchants,” VTB24’s press office said in a statement.

Most banks just began their relationship with China by offering clients corresponding services- none of the bankers imagined that they would be issuing Chinese credit cards.

In March, both Visa and MasterCard blocked the accounts of cardholders at BankRossiya and SMF Bank, both which were sanctioned by the US over Russia’s involvement in Crimea.

Russian financiers who used to keep their assets in dollars and euros were shocked by the event, and moved their capital back to Russia out of fear one day all their assets would be blocked by politicians in Washington DC.

“Visa and MasterCard have 100 percent trust, but right now, there is no trust in the system, and many, even our clients, have shifted their transactions from American dollar and Euro to Yuan. They are eager to receive this card- we already have a big list of people waiting to get this card instead of MasterCard and Visa,” Denis Fonov, Deputy Chairman at LightBank, a small Moscow-based bank, told RT.

LightBank was working with UnionPay long before it knew the cards would be coming to the Russian market – and ordered 10,000 cards pre-emptively as a side service for clients.

As a result of the freeze, Visa and MasterCard will now have to pay a security deposit to Russia’s Central Bank, which is estimated to be billions for each company. Similarly, once UnionPay begins operating in Russia, it will also put down a security deposit with Russia’s Central Bank, about $3-4 billion, Fonov said.

$5.3 trillion in payments

There are already 20,000 cards in circulation in Russia, and a second order of 100,000 cards is planned for September. In Russia many banks accept UnionPay cards, but not merchants, that’s the next step.

By the beginning of 2014, the payment system had already issued 4.2 billion cards, mostly in China.

In terms of total world trade turnover, China UnionPay is the leader in debt cards, with over $5.3 trillion in payments, or about 47 percent of the market share, whereas Visa has 40.6 percent, and MasterCard only 12.2 percent, according to the Nilson Report.

In overall transactions, Visa is still the leader with $4.6 trillion, and China UnionPay comes in second with $2.5 trillion in transactions in the first half of last year.

UnionPay already successfully operates in Australia and Canada, with their deposits tied to both the local currency and the yuan. In total, UnionPay operates in 142 countries.

China’s UnionPay will be a temporary solution for Russia to detach from the West while it prepares to launch its own payment system, which officially isn’t slated to begin operating for another 16 months, and according to sources in the industry, it could even be 2-3 years out.

August 15, 2014 Posted by | Economics | , , , , , , , | Leave a comment

The US’ H17 End Game: Shadow NATO in Ukraine and Russia as a ‘State Sponsor of Terrorism’

By Andrew KORYBKO | Oriental Review | July 28, 2014

The Ukrainian Civil War took a violent and headline-grabbing international turn for the worst on 17 July following the downing of Flight MH17. Although it appears more and more likely that it was the Ukrainian Army that shot it down and not the anti-Kiev Resistance, pro-Western media has been aggressively pushing the narrative that Russia, specifically President Putin, was involved and has been suppressing evidence to the contrary. It has even gone as far as to infer that “Russian-backed separatists” carried out a “terrorist attack”, further upping the propaganda ante. The reason behind this massive information war is that the US wants to “isolate Russia” and expand NATO into Ukraine, something which it has largely been unable to successfully do up until this point. In fact, it appears as though the US is now readying to play its trump card – granting Ukraine major non-NATO ally status and declaring Russia as a “state sponsor of terrorism”, both of which would in turn advance NATO interests and threateningly force the EU to choose whether its destiny lies with the Atlantic or the Continent.

“Operation: Isolation” before Flight MH17

Prior to the downing of MH17, US-led sanctions against Russia were unsuccessful in isolating Moscow. The EU refused to enact any meaningful sanctions that would endanger its $330 billion yearly trade with Russia, thereby mitigating the US’ economic bullying efforts. In fact, the verbal threat of sanctions was actually beneficial for Russia since it motivated the country to look outside the West for future economic prospects. An historic gas deal with China was signed in May that was worth nearly half a trillion dollars, and in the same month, the Eurasian Economic Union was officially formed. Then, right before 17 July, Putin attended the BRICS conference in Brazil where he met with leaders representing nearly half of the world’s population, and they committed to creating the alternative BRICS Development Bank. Clearly, Russia wasn’t going to be isolated by the West.

All while this was happening, the US kept trying to find a backdoor way for incorporating Kiev’s armed forces into NATO, and it found it through its local lackey, Poland. A plan was concocted by Ukraine to create a joint brigade between it, Lithuania, and Poland, with Poland being the key NATO partner involved (Lithuania on its own is almost insignificant in international and military affairs of any kind). The importance here is that Kiev has been institutionalizing the relationship it has with its new strategic partner, Poland, also inviting its former overlord and mercenary-in-arms into the east to assist with “creating new jobs” (read: plundering) in Donbass. What is happening here is that even if the West was unsuccessful in isolating Russia, it could at the very least move as much of its influence eastward to the Russian frontier as it can in order to enact maximum pressure on Moscow.

The “Terrorist” Label and Shadow NATO

Almost immediately after it happened, the MH17 catastrophe was seized upon by Western political opportunists as valuable capital for their geostrategic game. As was mentioned in the first paragraph, pro-Western media outlets immediately laid the blame squarely at Putin’s feet, and this wasn’t coincidental. The objective in doing so has been to generate enough anti-Russian sentiment in Europe so as to justify mutually disadvantageous sanctions (more so for the socially and politically fractured EU, many of whose members are still in recession, than for the economically resolute Russia). The EU, and especially Germany, will only “shoot itself in the kneecaps” as either an emotional or forced response, as to do so under any normal circumstances would be absolutely unreasonable.

Thus, the “terrorist” label entered the discourse.

Petro Poroshenko serving as the US insider even in the presidential position.It has now become popular for Western opinion makers to repeat the Kiev slur that the anti-coup Resistance are “terrorists”, emphasizing that they are “Russian-backed” and “supported by Putin”. It doesn’t matter that none of this is true – what is important is that it is repeated as loudly and as often as can be. The result is to acclimate the public into believing that Russia under Putin is a pariah state, much as Newsweek magazine tried to convince their audience with its last hate piece. Poroshenko has taken things even further, likening MH17 to Lockerbie and 9/11 and trying to get Donetsk and Lugansk’s governments on the international terrorist list.

It is only a short leap of “logic” to see the connection between Russia and Putin as terrorist sponsors and the US’ designation of state-sponsor-of-terrorism status onto the country. Such a step would lead to immediate US sanctions and intense pressure on the EU to cut off its major non-energy trade contacts with Russia and fiendishly move towards diversifying away from Russian gas (to say nothing of killing the South Stream project). The US will only take this extreme step if it is sure that it has more influence over Europe than Russia does and that Europe can be convinced to sacrifice its economic well-being for ideological and political reasons (which is not that far-off of a possibility for such an indoctrinated leadership).

Just as before the tragedy, it must be noted that the US is still pursuing the goal of shadow NATO integration with Ukraine parallel to isolating Russia. It is reported that it may be on the cusp of granting Ukraine major non-NATO ally status and even providing pinpoint precision intelligence for attacking anti-Kiev SAM sites. This could rapidly creep into something much more, per the Libya model, especially since US military advisors will be on the ground. Thus, in one fell swoop, by evoking the “terrorist” label, the US can ‘kill two birds with one stone’ – guilt/force the EU into “isolating Russia” (thereby isolating and harming itself as well) and swallow Ukraine into Shadow NATO.

Concluding Thoughts

The US has plainly demonstrated that it is salivating for a Cold War redux with Russia, and once more, Europe is caught in the middle. It is completely contrary to any of its interests for it to participate in this needless and aggressive geopolitical struggle, but as the EU seems wont to do nowadays, it may easily get sucked into it out of misguided ideological and political reasons dictated by the US. In fact, it may have little choice: the US could unilaterally declare Russia as a state sponsor of terrorism and then force the EU, whose largest export market is the US and with whom it is negotiating the Trans-Atlantic Trade and Investment Partnership (which European political elite naively believe will benefit them), into acquiescing to its military occupier’s demands. This wouldn’t “isolate” Russia, which has already made a strong push into the non-Western world since April, as much as it would isolate the EU, but ironically, this may even work in Washington’s favor by crippling its friendly economic rival and keeping it under its thumb for at least another decade.

Moreover, Russia as a “state sponsor of terrorism” would create a clear dividing line between the West and Russia and could give a renewed hybrid purpose to NATO. Whereas in the Cold War it was an anti-Russian organization and then in the “Global War on Terror” it nominally became an anti-terrorist organization, it may soon carry the new hybrid mission of containing a “terrorist-supporting” Russia. This would also provide enhanced justification to European populations for the deployment of even more US and NATO personnel in Eastern Europe, as well as deeper and faster Shadow NATO integration for Ukraine, Georgia, and Moldova, thereby laying the framework for a Western battering ram into Russia’s Near Abroad. All of this would rightfully alarm Russia, which would then defensively ramp up its multivector cooperation with ‘The Rest’ and BRICS. This would be especially so for its prized strategic partner and fellow Western target, China, potentially creating an eventual de-facto alliance between the two giants out of shared security concerns and transforming the Eurasian strategic landscape.

Andrew Korybko is the American political correspondent of Voice of Russia who currently lives and studies in Moscow, exclusively for ORIENTAL REVIEW.

July 28, 2014 Posted by | Economics, False Flag Terrorism, Militarism, Timeless or most popular | , , , , , , | Leave a comment

Venezuela Participates in BRICS Gathering, New Agreements Reached

By Ewan Robertson | Venezuelanalysis | July 20, 2014

Mérida – Venezuela participated in the gathering of the BRICS emerging powers and Latin American regional blocs in Brazil this week, where new agreements were hailed as beginning the creation of a new global financial architecture.

Several multilateral meetings were held in the city of Fortaleza, including the 6th BRICS (Brazil, Russia, India, China and South Africa) Summit, and meetings between China and the Union of South American Nations (UNASUR) and the Community of Latin American and Caribbean States (CELAC).

During the BRICS summit, the five emerging economies created a new development bank and a multilateral reserve fund, each of which will potentially hold US $100 billion of pooled capital. The reserve fund will be used to support members of the bloc against adverse economic conditions or external impacts.

The creation of the new institutions is partly motivated by dissatisfaction with the terms of the financial hegemony exercised by the U.S. and its European allies through the IMF and World Bank.

“The strength of our project has positive potential: we want the global [financial] system to be fairer and more equal,” said Brazilian president Dilma Roussef to media.

On Wednesday and Thursday China met with the UNASUR and CELAC blocs in order to explore strategies through which the Asian power could deepen its involvement in Latin America.

In the meeting with UNASUR countries it was discussed how BRICS and UNASUR could create more ties. After the meeting, Venezuelan president Nicolas Maduro reported that it had been proposed that the new BRICS Development Bank and UNASUR’s Bank of the South adopt a common strategy in the regional and global economies.

“The [new] financial institutions have the same objectives: the construction of a new financial architecture that benefits economic development in conditions of equity for our countries; where speculative financial capital is ended, where the looting of our economies is ended, and productive investment which creates employment and wealth is promoted,” he said to Telesur on Wednesday.

The Venezuelan president also argued that closer relations between BRICS and Latin America represented a “win win alliance” and “the birth of the multi-polar world”.

“In the past we were dominated powers, and now we are emerging countries and blocs,” he said.

The BRICS bloc has become a key trading partner for Venezuela. Commerce with the bloc increased by 72% from 2006 – 2013.

Meanwhile, agreements reached on Thursday between China and the CELAC bloc, which brings together all countries in the Americas apart from the U.S. and Canada, included the establishment of a $1 billion investment fund for infrastructure projects in Latin America, and a Chinese offer of scholarships for 6,000 Latin American students.

Other funds potentially worth $15 billion to support Latin American development were also discussed.

Latin America has become an important source of Chinese investment and exports, while South American powers have increasingly turned to China as a source of financing, technology transfer, and destination to export primary materials.

A top level delegation led by Chinese President Xi Jinping is currently touring the continent to further deepen China’s economic involvement in Latin America, with visits including Brazil, Argentina, and Venezuela, where Xi Jinping arrives today.

Bilateral agreements

Venezuela also held several bilateral meetings in Fortaleza, including with China and Colombia.

The South American OPEC nation agreed to import a further 1,500 Chinese-made Yutong buses for the expansion of its public transport system. A Yutong factory is being built in Venezuela to begin domestic production of the vehicles, which will open next year.

The Venezuelan and Chinese central banks also reached an agreement to share information on statistical methodologies, monetary policy, and funding mechanisms. Both parties called the accord a “breakthrough” for enhancing economic ties.

Since 2001 the two countries have constructed what has been labeled as a “strategic alliance”. A high level bilateral session initiates in Caracas today with the arrival of Chinese president Xi Jinping.

July 20, 2014 Posted by | Economics | , , , | 1 Comment

BRICS create new Development Bank as well as a $100 billion foreign currency reserves pool

By Helmo Preuss | The BRICS Post | July 15, 2014

Fortaleza, Brazil – After some tough rounds of negotiations, BRICS nations (Brazil, Russia, India, China and South Africa) have created not only a new $100 billion Development Bank, but also a $100 billion foreign currency reserves pool.

The announcement was made after a plenary meet of the five BRICS heads of state in Fortaleza on Tuesday.

Shanghai finally won the bid to host the Bank while India will get the presidency of the Bank for the first six years. The Bank will have a rotating chair. The Bank will also have a regional office in Johannesburg, South Africa. All the five countries will have equal shareholding in the BRICS Bank.

The five Finance Ministers will constitute the Bank’s board which will be chaired by Brazil.

The Bank will initially be involved in infrastructure projects in the BRICS nations.

The authorized, dedicated and paid in capital will amount to $100 billion, $50 billion and $10 billion respectively.

The idea of the BRICS Bank was proposed by India during the 2012 Summit in New Delhi.

BRICS have long alleged that the IMF and World Bank impose belt-tightening policies in exchange for loans while giving them little say in deciding terms. Total trade between the countries is $6.14 trillion, or nearly 17 percent of the world’s total. The last decade saw the BRICS combined GDP grow more than 300 per cent, while that of the developed word grew 60 per cent.

Apart from the new development Bank, the group of five leading emerging economies also created a Contingency Reserve Arrangement on Tuesday.

BRICS central banks will keep their reserves in gold and foreign currencies.

China will fund $41 billion, Brazil, India and Russia $18 billion each and South Africa with $5 billion. The funds will be provided according to a multiple. China’s multiple is 0.5, which means that if needed, the country will get half of $41 billion. The multiple is 2 for South Africa and 1 for the rest.

BRICS Finance ministers or central banks’ governors will form a governing body to manage the CRA while it will be presided over by the BRICS President.

The BRICS CRA will not be open to outsiders.

Meanwhile, at the Summit in Fortaleza, Russian President Vladimir Putin said BRICS must form an energy alliance.

“We propose the establishment of the Energy Association of BRICS. Under this ‘umbrella’, a Fuel Reserve Bank and BRICS Energy Policy Institute could be set up,” Putin said on Tuesday.

July 15, 2014 Posted by | Economics | , , , , , , , | Leave a comment

Xi to discuss denuclearization in S. Korea

The BRICS Post | July 2, 2014

South Korea’s senior presidential secretary said on Wednesday that visiting Chinese President Xi Jinping and South Korean President Park Geun-hye will exchange notes on detailed measures towards denuclearization of the Korean Peninsula during their upcoming summit talks.

Ju Chul-ki, senior foreign affairs and security advisor to Park, told a press briefing on Wednesday that the two leaders will discuss the Trust-Building Process on the Korean Peninsula, a key policy measure of the Park government.

China and South Korea will release a joint cooperation document paper and ink deals in trade, finance, environment and consular affairs during the Chinese President’s state visit.

Xi will make a two-day state visit to Seoul to hold a summit with Park Thursday and meet with National Assembly Speaker Chung Ui-hwa and Prime Minister Chung Hong-won Friday.

“The two sides will also exchange views on maintaining peace and stability on the Korean Peninsula,” Chinese Vice Foreign Minister Liu Zhenmin told a press briefing in Beijing on Tuesday.

The upcoming China-South Korea summit talks will aim to empower efforts to solve the Peninsula nuclear issue and deter possible provocations from North Korea, Park’s advisor said.

Xi and Park are also expected to discuss the recent move by the Japanese government to end its post-war pacifist outlook.

The Japanese cabinet, headed by Prime Minister Shinzo Abe, decided Tuesday to reinterpret its 67-year-old pacifist constitution to allow itself to exercise collective self-defense right.

The revision paved the way for Japanese forces to fight abroad in defense of “countries with close ties.”

Japan also provoked South Korea on June 20 by unveiling the results of its review on the Kono Statement, which acknowledged and apologized for its wartime sex slavery.

The results said Seoul intervened in the wording of the 1993 apology, indicating it was the consequence of closed-door political dealings.

South Korean President Park Geun-hye criticized Japan for attempting to undermine the credibility of its 1993 apology over wartime sexual enslavement of women during World War II, describing the move as an “act that betrayed trust between the nations”, says a Yonhap report.

Xi and Park are also expected to push for speeding up negotiations for the bilateral free trade pact and setting up a market to directly exchange currencies of the two countries.

July 2, 2014 Posted by | Economics, Militarism | , , | Leave a comment

Tired of World Bank, China to launch alternative

RT | June 26, 2014

China is moving forward with a plan to create its own version of the World Bank, which will rival institutions that are under the sway of the US and the West. The bank will start with $100 billion in capital.

The Asian Infrastructure Investment Bank (AIIB) will extend China’s financial reach and compete not only with the World Bank, but also with the Asian Development Bank, which is heavily dominated by Japan. The $100 billion in capital is double that originally proposed, the Financial Times (FT) reported.

A member of the World Bank, China has less voting power than countries like the US, Japan, and the UK. It is in the ‘Category II’ voting bloc, giving it less of a voice. In the Asian Development Bank, China only holds a 5.5 percent share, compared to America’s 15.7 percent share and Japan’s 15.6 share.

At the International Monetary Fund, China pays a 4 percent quota, whereas the US pays nearly 18 percent, and therefore has more influence within the organization and where loans go.

“China feels it can’t get anything done in the World Bank or the IMF so it wants to set up its own World Bank that it can control itself,” the FT quoted a source close to discussions as saying.

To date, 22 countries have expressed interest in the project, including oil-rich Middle Eastern nations, the US, India, Europe, and even Japan, the FT reported.

“There is a lot of interest from across Asia but China is going to go ahead with this even if nobody else joins it,” the FT source said.

Funding for the Asian Infrastructure Investment Bank will mostly be sourced from the People’s Republic of China and be used to pay for infrastructure projects.

The bank’s first project will be a reincarnation of the ancient Silk Road, the vast network of trade routes between China and its regional neighbors. Another proposed project is a railway from Beijing to Baghdad.

The idea for the bank was first floated in October 2013, when China unveiled plans to create the bank. Then it was initially to be funded with $50 billion in capital.

Separately, the BRICS nations plan to have a $100 billion development bank ready by 2015.

Funds will be reserved for emerging market members who are often bypassed by institutions like the IMF and World Bank.

Bank preparations will likely be finalized at the 6th annual BRICS summit on July 14-16, when the five world leaders convene in Brazil.

June 26, 2014 Posted by | Economics | , , , , | Leave a comment

China receives gas from Central Asia via new pipeline

The BRICS Post | June 16, 2014

China, the world’s largest energy consumer, has started receiving natural gas transported through the newly constructed Line C of the crucial China-Central Asia gas pipeline network on Sunday, state media reported.

Gas transported through Line C, which is now operational, successfully reached the Horgos Port in China’s Xinjiang province on Sunday.

Line C is over 1,800 kilometers long and runs parallel to lines A and B, with the pipeline network showing Beijing’s growing clout in Central Asia as it seeks resources for the Chinese economy.

China imports about 20 bcm of gas from Turkmenistan, about half of its total gas imports, and the two countries signed an agreement last year to ramp up gas exports to 65 bcm by 2020.

Central Asia is seeking new export routes for the fuel as transport routes to Europe via Russia are now in question following the EU sanctions on Moscow over Ukraine.

China’s first large international pipeline for imported natural gas, the China-Central Asia line starts at the Turkmenistan-Uzbekistan border before passing through central Uzbekistan and southern Kazakhstan before entering China.

From Horgos in Xinjiang, the pipeline then connects with China’s West-East pipelines, to deliver natural gas across the country.

Trade between China and Central Asia has increased from about $500 million in 1992 to $26 billion in 2009, according to official Chinese figures.

The Central Asia-China gas pipeline runs all the way from China’s east coast cities to Galkynysh field, a distance of 6000 miles as it sources energy from major energy producers Turkmenistan, Kazakhstan and Uzbekistan.

China’s energy giant CNPC also plans to integrate Afghanistan into this energy network.

TBP and Agencies

June 16, 2014 Posted by | Economics | , , , , , | Leave a comment

China rejects latest US hacking accusation

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China’s Foreign Ministry Spokeswoman Hua Chunying

Press TV – June 11, 2014

China has dismissed the recent allegation by the US that the Chinese military has been involved in hacking a US security firm, describing Washington’s approach on the issue as unconstructive.

A private US cyber security firm accused a unit of China’s military on Monday of hacking attempts to access information on US satellite and aerospace programs, Xinhua reported.

China’s Foreign Ministry Spokeswoman Hua Chunying rejected the allegation at a press briefing on Tuesday.

“I have noticed the report you mentioned, its wording and style looks familiar, citing the names of the hackers and their claims of their military identity,” she said, responding to a question about US reports alleging Chinese hacking attempts. “Have you ever seen thieves bearing a name tag saying ‘thieves?’” she said.

Washington had issued an indictment against five Chinese military officers on charges of cyber theft earlier on May 19.

The Chinese Foreign Ministry spokeswoman further challenged the integrity of the US allegations against her country, referring to the massive American espionage efforts across the globe as part of its PRISM program under the US National Security Agency (NSA).

The program, which was revealed by former NSA contract employee Edward Snowden in 2013, showed that the US was spying on the phone and email communications of top world leaders, including those of Washington’s allied countries as well as China.

“The US is a hacking empire,” Hua said. “It is not constructive for the US to attack others instead of repenting and correcting its own mistakes.”

The Chinese official further pointed out that cyber attacks are a global challenge – transnational and anonymous in nature – requiring cooperation among all countries to be countered.

June 11, 2014 Posted by | Deception, Economics | , , , , | 1 Comment

Russia, China present new joint draft to prevent outer space war

The BRICS Post | June 11, 2014

China and Russia have jointly submitted an updated draft international treaty on banning the deployment of weapons in outer space to a UN-sponsored disarmament conference.

The US and Israel have repeatedly voted against UN resolutions on the prevention of an arms race in outer space.

The updated draft Treaty on the Prevention of the Placement of Weapons in Outer Space, the Threat or Use of Force Against Outer Space Objects, was presented at a plenary session of the Conference on Disarmament, the world’s sole multilateral forum for disarmament negotiations.

The new draft treaty prepared by Russia and China is a revised version of the one the two allies had presented earlier, including definition and scope of the treaty, organizations as well as mechanisms to solve disputes, said Wu Haitao, China’s ambassador extraordinary and plenipotentiary for disarmament affairs.

The Treaty on Prevention of the Placement of Weapons in Outer Space and of the Threat or Use of Force Against Outer Space Objects (PPWT) was first proposed by China and Russia in February 2008 as an international legally binding treaty that would outlaw the weaponization of space.

Wu said this new draft treaty is aimed at advancing the Conference on Disarmament toward negotiations for signing an international legal document.

Space assets like satellites are at increasing threat of being disabled from hostile countries as risk of cyber-warfare grows.

Beijing has warned of the growing risks of the weaponization of outer space with the rapid development of space technology, which the Chinese Ambassador said will “hinder the peaceful use of outer space, break global strategic balance and stability and hamper nuclear disarmament”.

The existing legislation on outer space cannot prevent the use or the threat of force against outer space assets, Wu said.

Telecommunications, GPS navigation systems, power etc could be easily switched off with the disabling of satellites in the backdrop of a militarized outer space.

China has stressed during the UN conference on the urgent need to sign a new international legal document to prevent the weaponization of outer space.

China and Russia are willing to include suggestions and ideas from other parties and continue to improve the draft treat in order to lay a foundation for the start of practical negotiations at the Conference on Disarmament, Wu said.

June 11, 2014 Posted by | Militarism | , , | Leave a comment

China and Russia to establish joint rating agency

RT | June 3, 2014

No more Fitch, Moody’s, or Standard & Poor’s for Russia and China, as they have agreed to establish a rating agency on joint projects, and later, international services, Russian Finance Minister Anton Siluanov said Tuesday.

“The establishment of an independent rating system is being discussed. Many countries would like to have more objectivity in the assessment of rating agencies,” Siluanov said.

“There will be a Russian-Chinese rating agency, which will use the same tools and criteria for assessing countries and regional investments that existing rating agencies use,” the minister said.

June 3, 2014 Posted by | Corruption, Deception, Economics | , , , , , , , | Leave a comment

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