It has 12 printed editions-African edition, China Daily European Weekly, China Asia Weekly, Hong Kong edition, and US edition.Īlready a journalist estimated that more than half of the stories on a Philippines newswire came from the Chinese state agency Xinhua. Not only circulated internationally, but through their international offices in major cities like New York and London, and also in Kathmandu for instance. The Chinese government was distributing versions of its propaganda newspaper-China Daily in English and other languages. The international journalists’ association were puzzled about what China was up to during the fall of 2019. SWIFT system, with its headquarters in Belgium is still indispensable. When companies transfer money in and out of China, they already use currency in digital format, and the use of electronic messages on the SWIFT payment networks which connects with more than 11,000 financial institutions is remaining the most efficient conduit of sharing payment information across borders. China is maintaining far tighter capital controls than any other major economy. For payments, people would consider how easy for the conversions to other currencies and the trust of the issuing countries’ legal systems. Worldwide, yuan is only 2% of international payments. It is already predicted in three years ECNY will only account for 5% of mobile payment. And with the half a million of people selected late last year in a trial of China’s digital currency, and they already expressed that the current Alipay and WeChat are more convenient as they are tied to commercial and social-message networks. China can already manage both the money supply and interest rates in different sectors. The Chinese regulators can see how people spend in real time. It is using this digital currency to increase its surveillance capabilities it will allow the state to have more control over money and will challenge the dollar for dominance.īut in any case the digitization is not doing anything more than what Alipay and WeChat can do. China is the world’s leader in mobile payments. It is known as ECNY which is the yuan basically, but it can be managed in an ECNY app in a digital wallet link to the person’s identity number. It even stated that in the long-term China will have a larger economy than the US and time is on China’s side. It continued to stress that it will stand firm on its principles and not distract by anti-China hostility. Last and not the least, the lack of transparency over the origins of coronavirus pandemic are not helping the image of China as a major power.įollowed by President Biden’s meeting with the G7 and then the NATO, China criticized that the Biden administration accelerated its efforts to build a united front against China at the summits of the G7 and NATO. The harassing of Taiwan across the Taiwan Strait by sending the military jets over Taiwan has created an uneasiness in the region where Japan and the other SE Asian countries are presence. The violations of the human-rights in Xinjiang, Tibet, Mongolia and lately for the crackdown on Hong Kong’s pro-democracy movement. Through the ambitious Belt & Road Initiative, China’s presence has extended into the Mediterranean Sea as far to the African continent. And also with its participation in Russian military exercises in Atlantic water.Īnother trend that is troubling the NATO allies is China’s involvement of Chinese companies in critical infrastructure in Europe, such as the sea ports. Concern over Chinese military cooperation with Russia and the rapid expansion of China’s nuclear arsenal and its rapid accumulation of nuclear warheads and sophisticated delivery systems. In the latest NATO meeting, the transatlantic alliance between 28 European and two North American countries, cited the latest calling for China to act responsible in the international system, including in the cyber, space and maritime domains and keep itself as the role of a major power.
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