China encourages construction of the ‘Belt and Road’ initiative to comply with national laws: Ambass

[Mage]

China encourages construction of the ‘Belt and Road’ initiative to comply with national laws: Ambassador
Senior Correspondent, bdnews24.com

Published: 2018-12-09 00:04:00.0 BdST Updated: 2018-12-09 00:45:20.0 BdST

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China encourages the construction of the "Belt and Road" initiative to comply with national laws, the ambassador in Dhaka has said.




Zhang Zuo also stressed regulating “business behaviour in investment and management, so as to always ensure legal and compliant operations".

He was speaking at a dialogue on ‘Bangladesh-China Relations: Prognosis for the Future’ in Dhaka organised by the Cosmos Foundation.

He said the development of China-Bangladesh relations faces “unprecedented opportunities” for cooperation based on the current situation and looking into the future.

Chinese belt and road initiative includes over 70 countries from South-East Asia to Eastern Europe and Africa, that account for half the world’s population and a quarter of global GDP.

Bangladesh also joined this flagship multibillion dollar initiative of the Chinese President Xi Jinping. All aspects of Chinese engagement abroad is described through this initiative.
“We should strengthen communications, improve cooperation mechanisms, promote the security of projects under the Belt and Road initiative,” the ambassador said.

Zuo also placed five suggestions for deepening the Bangladesh-China ‘strategic partnership’ - deepen strategic mutual trust, economic integration, and innovation and interaction, have stronger cooperation on experience sharing on security, and deepen cultural and people’s connectivity.

“We will tighten the bonds of cultural communications, jointly promote exchanges in the fields of education, science and technology, culture, education, and health, and carry out fruitful assistance programs for people's livelihood centred around the construction of the Belt and Road,” he said.

With the aim to establish people-to-people connectivity, the ambassador said both countries should continue to deepen cooperation in the fields of poverty reduction, local development, cities, and rural governance, and strengthen collaborations in tourism, archaeology, heritage protection, and cultural and creative industries.

“We should actively expand cooperation in new media, news, film and television, tell more exciting and touching stories, and build up public support for the ‘Belt and Road’ initiative.”

The ambassador said in recent years, the development of China Bangladesh relations has been promoted onto the fast track.

During the “successful” state visit of president Xi Jingping to Bangladesh in October 2016, the bilateral relationship was elevated to ‘strategic partnership of cooperation’, which started a new chapter in China-Bangladesh relations.

According to Chinese statistics, in 2017, the bilateral trade value reached $16 billion, 5.8 percent higher than last year, with China remaining the number one trade partner to Bangladesh.

The engineering contracts signed between Bangladesh and Chinese companies reached 10.4 billion dollars, second in the South Asian region.

In the first nine months of this year, the bilateral trade value stands at $13.9 billion, with a growth rate of 19.3 percent year on year.

The contracts signed are worth $3.84 billion, number one in South Asia and number four globally, the ambassador said.

Chinese FDI in non-financial sector stands at $120 million, more than doubled compared to last year.

https://bdnews24.com/economy/2018/1...ative-to-comply-with-national-laws-ambassador

 

[Mage]

Someone @Bilal9 @Homo Sapiens @bluesky @TopCat tell me what's in it for Bangladesh for BRI? What impact it is supposed to have on Bangladesh and what Bangladesh gains from it.. I am yet to see any detailed analysis on that matter.

“We should strengthen communications, improve cooperation mechanisms, promote the security of projects under the Belt and Road initiative,” the ambassador said.

Okay.

Zuo also placed five suggestions for deepening the Bangladesh-China ‘strategic partnership’ - deepen strategic mutual trust

Good.

economic integration

Ermm....no.

innovation and interaction

Okay.

have stronger cooperation on experience sharing on security, and deepen cultural and people’s connectivity.

Okay.

“We will tighten the bonds of cultural communications, jointly promote exchanges in the fields of education, science and technology, culture, education, and health, and carry out fruitful assistance programs for people's livelihood centred around the construction of the Belt and Road,” he said.

Very good.

“We should actively expand cooperation in new media, news, film and television, tell more exciting and touching stories, and build up public support for the ‘Belt and Road’ initiative.”

Don't get ahead of yourself, Mr. Ambassador. BD media won't be a propaganda piece for BRI.

According to Chinese statistics, in 2017, the bilateral trade value reached $16 billion, 5.8 percent higher than last year, with China remaining the number one trade partner to Bangladesh.

Mostly Chinese exports to Bangladesh. Bangladesh's exports to China is minuscule and the trade deficit has to be addressed.

The engineering contracts signed between Bangladesh and Chinese companies reached 10.4 billion dollars, second in the South Asian region.

All the contracts are about Chinese companies working in Bangladesh....not the other way around..Foreign contracts in Bangladesh has to be reduced.


Chinese are a party that need to be dealt very cautiously. They can be much more dangerous and nastier than the Indians. But we can't avoid them, neither we can avoid India...It is inevitable that we come into contact with them. It is a great risk but it has lots of potential as well. We have to recognize the risks and do our best to hedge the potentials. It is a great challenge but at the same time it is a great opportunity as well.

 

[TopCat]

The only thing I love about china is the cheap technology.

 

[TaiShang]

China's Zhengzhou launches freight train service to Vietnam

Source: Xinhua Published: 2018/12/8


Central China's transport hub Zhengzhou on Friday added a Southeast Asian route to its China-Europe freight train service.

The first train on the route departed from Zhengzhou, capital of Henan Province, on Friday morning. It will enter Vietnam via the border city of Pingxiang before arriving at the Vietnamese capital, Hanoi.

The route operator Zhengzhou International Hub Development and Construction Co. said the train carried machinery and e-products to Vietnam and would bring back Vietnamese fruit, rice, dried fruit and aquatic products.

The company has yet to provide information on the frequency of the train.

Zhengzhou has seen the south-bound route as an important extension to its China-Europe rail service, which links 126 cities in Europe and Central Asia.

The China-Europe rail service is a significant part of China-proposed Belt and Road Initiative.

The number of China-Europe freight trains reached a new high in 2017, surpassing the previous six years combined, with more than 3,000 freight trains traveling on 57 lines. The number of such trips is expected to reach 4,000 in 2018, according to the China Railway Corporation.

http://www.globaltimes.cn/content/1130909.shtml

 

[Nilgiri]

Someone @Bilal9 @Homo Sapiens @bluesky @TopCat tell me what's in it for Bangladesh for BRI? What impact it is supposed to have on Bangladesh and what Bangladesh gains from it.. I am yet to see any detailed analysis on that matter.


Okay.

Good.

Ermm....no.

Okay.

Okay.

Very good.

Don't get ahead of yourself, Mr. Ambassador. BD media won't be a propaganda piece for BRI.

Mostly Chinese exports to Bangladesh. Bangladesh's exports to China is minuscule and the trade deficit has to be addressed.

All the contracts are about Chinese companies working in Bangladesh....not the other way around..Foreign contracts in Bangladesh has to be reduced.


Chinese are a party that need to be dealt very cautiously. They can be much more dangerous and nastier than the Indians. But we can't avoid them, neither we can avoid India...It is inevitable that we come into contact with them. It is a great risk but it has lots of potential as well. We have to recognize the risks and do our best to hedge the potentials. It is a great challenge but at the same time it is a great opportunity as well.

Magoo talking to himself again @django

 

[艹艹艹]

The only thing I love about china is the cheap technology.

Don't be self-abased

 

[Mage]

Magoo talking to himself again @django

Monologuing is a good way to analyze things.

 

[khansaheeb]

Someone @Bilal9 @Homo Sapiens @bluesky @TopCat tell me what's in it for Bangladesh for BRI? What impact it is supposed to have on Bangladesh and what Bangladesh gains from it.. I am yet to see any detailed analysis on that matter.


Okay.

Good.

Ermm....no.

Okay.

Okay.

Very good.

Don't get ahead of yourself, Mr. Ambassador. BD media won't be a propaganda piece for BRI.

Mostly Chinese exports to Bangladesh. Bangladesh's exports to China is minuscule and the trade deficit has to be addressed.

All the contracts are about Chinese companies working in Bangladesh....not the other way around..Foreign contracts in Bangladesh has to be reduced.


Chinese are a party that need to be dealt very cautiously. They can be much more dangerous and nastier than the Indians. But we can't avoid them, neither we can avoid India...It is inevitable that we come into contact with them. It is a great risk but it has lots of potential as well. We have to recognize the risks and do our best to hedge the potentials. It is a great challenge but at the same time it is a great opportunity as well.

There is no benefit for Bangladesh , only for India.

 

[Bilal9]

Someone @Bilal9 @Homo Sapiens @bluesky @TopCat tell me what's in it for Bangladesh for BRI? What impact it is supposed to have on Bangladesh and what Bangladesh gains from it.. I am yet to see any detailed analysis on that matter............................

...............................

Chinese are a party that need to be dealt very cautiously. They can be much more dangerous and nastier than the Indians...................................It is a great risk but it has lots of potential as well. We have to recognize the risks and do our best to hedge the potentials. It is a great challenge but at the same time it is a great opportunity as well.

In a highly unequal relationship (which is what the Bangladesh-China relationship is) - the lesser partner (Bangladesh) has very little leverage to bargain for anything to profit from deals. Unless Bangladesh has other strong relationships (in terms of trade, politics, culture) with other strong countries or entities to leverage against, it will always lose.

However needlessly and openly being hostile to ideas proposed by a large trade partner like China is foolish.

To be blunt, Bangladesh turning into a 100% dependent client-state for China (being China's whipping boy and do-bidder) is not an option, even in terms of trade. The Chinese Communist Party understands this dilemma from Bangladesh perspective and has positive impressions on Bangladeshi trade relationship as we are a consistently reliable purchaser of Chinese military hardware as well as myriad varieties of capital equipment for our growing export-oriented infrastructure.

Bangladesh also has to be sensitive about India's political concerns as we are in the immediate neighborhood and must leverage all options (eggs) to be put into as many different baskets as possible (Turkey, India, EU, US), deftly balancing trade and political relationships.

Bangladesh also has to allay American concern about Chinese power-projection. These aforementioned trade terms and relationships will see significant shifts in the next twenty years per expected evolution and growth of Chinese influence and military (naval) projection in APAC in the next two decades.

The above political balancing act would be totally out of consideration if not for investments gain from and trade deficit reduction with China which is a huge part of the expectation from Bangladesh side. Bangladesh is rightfully expecting Chinese technology as well as mass consumer goods production investments by way of industrial transfers to benefit Bangladeshi labor pool because of labor cost increases and shifted subsidy structures in the mainland. Bangladesh will have all 100 of its planned/under-construction SEZ's open in another five years (18+ are ready to go right now) and it is expecting Chinese investments in those SEZ's.

BRI can help in this effort. but the benefit for Bangladesh right now seems unclear to many involved. I hope the Honorable ambassador from China will keep holding symposiums to float/moot these efforts from his govt. to the general public as well as govt.servants and explain how joining BRI can add to Bangladeshi bottom line.

 

[Mage]

However needlessly and openly being hostile to ideas proposed by a large trade partner like China is foolish.

I am not advocating hostility....we cannot afford it even if I wanted to. But we are ought to scrutinize it before committing ourselves to it.

To be blunt, Bangladesh turning into a 100% dependent client-state for China (being China's whipping boy and do-bidder) is not an option, even in terms of trade. The Chinese Communist Party understands this dilemma from Bangladesh perspective.

We have to balance India with China until we are strong enough. But having such a huge trade gap with both is irritating.

 

[Nike]

Someone @Bilal9 @Homo Sapiens @bluesky @TopCat tell me what's in it for Bangladesh for BRI? What impact it is supposed to have on Bangladesh and what Bangladesh gains from it.. I am yet to see any detailed analysis on that matter.


Okay.

Good.

Ermm....no.

Okay.

Okay.

Very good.

Don't get ahead of yourself, Mr. Ambassador. BD media won't be a propaganda piece for BRI.

Mostly Chinese exports to Bangladesh. Bangladesh's exports to China is minuscule and the trade deficit has to be addressed.

All the contracts are about Chinese companies working in Bangladesh....not the other way around..Foreign contracts in Bangladesh has to be reduced.


Chinese are a party that need to be dealt very cautiously. They can be much more dangerous and nastier than the Indians. But we can't avoid them, neither we can avoid India...It is inevitable that we come into contact with them. It is a great risk but it has lots of potential as well. We have to recognize the risks and do our best to hedge the potentials. It is a great challenge but at the same time it is a great opportunity as well.

Their trade war against US can be used as leverage to raising your concern about the high deficit trades between both countries. You must ensure they are investing enough of their capital and technology in Bd before opening your market to them. Negotiating against China is very much time consuming and must be done by position of power, they tend not to take you seriously if you are too meek and easily being dominated at negotiation tables. But if you succeed, they will and look at your country seriously as an equal partner and will trying to woo you with investment and tech. Expertise in many sector. Indonesia and Vietnam is curious case, with both of them able to attract billions of US dollar investment from China, though both countries had dubious relationship with Chinese government in many areas especially politics and Interest in South China sea.

 

[SBUS-CXK]

Their trade war against US can be used as leverage to raising your concern about the high deficit trades between both countries. You must ensure they are investing enough of their capital and technology in Bd before opening your market to them. Negotiating against China is very much time consuming and must be done by position of power, they tend not to take you seriously if you are too meek and easily being dominated at negotiation tables. But if you succeed, they will and look at your country seriously as an equal partner and will trying to woo you with investment and tech. Expertise in many sector. Indonesia and Vietnam is curious case, with both of them able to attract billions of US dollar investment from China, though both countries had dubious relationship with Chinese government in many areas especially politics and Interest in South China sea.

Don't complicate the problem. Separate economy from politics.

China and India also have contradictions. But Huawei, Xiaomi, Alibaba, BBK (OPPO and VIVO)，Sany, BYD. CRRC（state-owned, the world's largest rail transit manufacturer）... they are still investing heavily in India.

As for Vietnam, it's very good. we have conflicts of interest in terms of territory and resources. but it does not hinder economic cooperation.

And Bangladesh. we have any conflicts?

 

[Nilgiri]

Negotiating against

Bangladesh can barely negotiate with itself in internal matters.

For some decades now they have been complaining about "non-tariff barrier" situation from India (when it comes to their RMG)...yet they have not even requested a preliminary hearing at WTO (forget about scheduling and setting up a team to head it).

So yeah they aren't going to negotiate anything form any kind of strength with China.

They are best off putting their head down, improving their country backbone and internal resilience to something lot more than the current paddy plant bendiness...and then re-evaluate what they actually can feasibly offer and what they even want in return (given they still maintain abnormal excise duties on basic assembly industries) in a focused, structured way....rather than hubris waffle they seem to love doing (to deflect from insecurity and pass some time and optics).

 

[Mage]

There is no benefit for Bangladesh , only for India.

India joined BRI?

Then BD better stay out of it. If China and India start dumping their products in BD more than they do now, BD industries will collapse overnight.

 

[Nilgiri]

India joined BRI?

Then BD better stay out of it. If China and India start dumping their products in BD more than they do now, BD industries will collapse overnight.

What is Bangladesh even producing that China + India can dump in first place?