World Economy

China-Russia relations still driven by rivalry despite improving ties


The strategic partnership between China and Russia, long marred by mutual suspicion, has risen to new heights with recent news of joint projects of more than $100 billion and large-scale army drills.

But such cooperation belies the rivalry that defines the relationship between Chinese President Xi Jinping and Russian Prime Minister Vladimir Putin, political strategists warn.

“The Chinese-Russian military alliance is only what you see above the surface,” Robert Kaplan, senior fellow at the Center for a New American Security, a think tank focused on U.S. national security issues, told CNBC on the sidelines of the Singapore Summit on Friday.

“What’s below the surface is serious geopolitical competition between China and Russia,” he said.

Beijing’s economic and commercial activities in Moscow’s backyard — Central Asia, the Russian Far East and the Arctic — have long been a threat to Putin. But his government has been unable to compete due to its own economic problems at home and in 2014, Moscow accelerated its pivot towards Beijing after coming under western sanctions over its annexation of Crimea.

While Putin and Xi seek to reconcile their differences, as reflected by their public show of drinking vodka and eating caviar together at this week’s Eastern Economic Forum, deep-seated rivalry remains.

The bilateral relationship is more of an entente, a basic agreement about the fundamentals of world order supported by common interests, rather than an alliance, Dmitri Trenin, director of the Carnegie Moscow Center, said in a note this week. Moscow’s concerns about Xi’s Belt and Road Initiative are still at play, Trenin suggested.



Source link

You may also like

Forex News

The roadmap to doing the “impossible” in your forex trading

post-image


Sometimes you can do what seems to be “impossible”, but you need to know how

Saint Francis of Assisi once said:

“Start by doing what’s necessary, then do what’s possible; and suddenly you are doing the impossible”. 

 Those words speak to me for trading as well. 

Many traders think the impossible, and skip the necessary and possible in their trading. That is a fatal flaw. It is important to think, “necessary” and “possible” first.  If you do, great things – once impossible things – can start to happen in your trading.  

If you like the video, please give it…

Read More
Crypto Markets

Win $5K of BCH Playing Cashgames From Bitcoin.com

post-image


Bitcoin.com’s gaming portal is filled with a plethora of casino-style games that allow you to wager and win with bitcoin cash (BCH). Last week, one punter did just that, scooping $5,000 of BCH from a progressive slot. All of the games that feature on Bitcoin.com’s Cashgames portal are provably fair, with a typical return of 99% or greater. All it takes is a little BCH to participate.

Also read: The Fed’s Low Interest Rates and QE Have Created a Dependent Generation

Anonymous Player Wins 33 BCH Playing Cashgames

Bitcoin and betting…

Read More
Company News

MIDEAST STOCKS-Saudi index retreats from near four-year high, other Gulf markets weak

post-image


DUBAI, March 24 (Reuters) – Saudi Arabia’s stock market dropped on Sunday after ending the previous week at nearly a four-year high following its inclusion in the FTSE Russell’s emerging-market index, while most Gulf markets also fell.

Saudi’s Tadawul index will have a weighting of 2.9 percent in the FTSE Emerging All Cap Index and this year will join the MSCI emerging market benchmark.

The first tranche of the FTSE Russell index kicked in on March 18.

The Saudi index was down 0.5 percent as banks opened lower with Al Rajhi Bank dropping 0.4 percent and National Commercial Bank down 0.6 percent.

The index is still up 11.3 percent so far this year on the back of foreign fund inflows ahead of its inclusion in the emerging market indices.

Saudi International Petrochemical Co (Sipchem) slid 0.8 percent after its chief executive Ahmad al-Ohali resigned following his appointment as…

Read More
Forex News

Fed’s Bullard says expects Q1 weakness to be transitory

post-image


Comments from St Louis Fed president James Bullard

  • My baseline for the economy is that it remains good
  • The economic landscape supports “being cautious on rates”
  • We have muted inflation
  • “I expect that will be noise and turn out to be transitory, but you never know, so it’s good to be cautious about those readings.”
  • Inversion of yield curve was “mildly concerning” and added “I’m hopeful this is just temporary.”

The comments were in an interview with the WSJ.

Read More
Crypto Markets

Indian Supreme Court Set to Hear Crypto Case on March 29

post-image


The four-week window that the Indian supreme court has given the government to come up with crypto regulation is coming to an end. According to the court’s Advance List, the crypto case is listed for March 29. Meanwhile, the community is ramping up efforts to bring about positive crypto regulation and the end of the banking ban imposed by the central bank.

Also read: Indian Exchange Launches Lending Program for 5 Cryptocurrencies

Advance List Shows Hearing Date: March 29

The deadline given to the Indian government by the country’s supreme court…

Read More
Investing

China refuses to concede on U.S. demands to ease curbs on tech firms: FT

post-image


FILE PHOTO: Chinese staffers adjust U.S. and Chinese flags before the opening session of trade negotiations between U.S. and Chinese trade representatives at the Diaoyutai State Guesthouse in Beijing, Thursday, Feb. 14, 2019. Mark Schiefelbein/Pool via REUTERS

(Reuters) – Ahead of fresh high-level trade talks this week, China is not conceding to U.S. demands to ease curbs on technology companies, the Financial Times reported on Sunday, citing three people briefed on the discussions.

U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are scheduled to travel to Beijing for talks starting on March 28, the White House said on Saturday.

The FT…

Read More