Editor's note: The Two Sessions, a major event on the Chinese political calendar, is underway. We've invited experts from various fields to write articles about hot issues that help us better understand today's China. This is the third piece of our "China's Road to Development" series. John Ross is a senior fellow at Chongyang Institute for Financial Studies, Renmin University of China. He is a former director of economic and business policy for the mayor of London. The article reflects the author's opinions and not necessarily those of RDCY.
We make decisions based on available information. If we have not completed formation, it is very much possible to make the wrong decision. Unfortunately, in today’s world, the West controls the world’s major media, especially the Internet companies such as Facebook, Twitter, Google, and Apple in the United States, they control the global Internet public opinion. Since the conflict between Russia and Ukraine, the West has been hanging Russia in the field of public opinion. In early February, Bloomberg reported fake news that Russia had invaded Ukraine.
China has begun the annual “two sessions” of its national legislature and top political consulative body in a very unsettled global environment. The Russian military action in Ukraine as well as the massive sanctions regime imposed by the West on Russia, a major producer of the world’s energy supply, has created a challenging environment for any country to make plans for the future. Nevertheless, in his government work report, which traditionally begins the legislative period, Premier Li Keqiang expressed confidence that China would remain on a course of stable development. This is also the year for the convening of the 20th National Congress of the Communist Party of China (CPC) which will determine the leadership team going forward and lay out the blueprint perhaps for the next decade or longer.
Surprise and horror have defined the reaction to the Russian military intervention in Ukraine. That's likely because although the intervention has followed the contours of a modern land war, it has also marked a break with the past in a number of ways. The world has become used to military interventions by the United States. This is, however, not a U.S. intervention. That in itself is a surprise - one that has befuddled reporters and pundits alike.
US Secretary of State Antony Blinken will visit Belgium, Poland, Moldova, Latvia, Lithuania and Estonia from March 3 to 8, the US Department of State announced on Wednesday, which experts said may stir up the situation and destroy the basis of dialogue between Russia and Ukraine.
The scale of sanctions on Russia over the Ukraine crisis has been expanding into sports, culture and even education, which usually hold politically neutral stances. Chinese experts and netizens ridiculed the abuse of unilateral sanctions, which have become a means of political correctness of punishing Russia with both symbolic and concrete measures. Some considered that such absurd sanctions or boycotts of Russian people reflect an abnormal hatred, which won't help solving the Ukraine crisis.
US President Joe Biden finally made his delayed State of the Union address local time Tuesday night, devoting a significant portion of the speech to the Russia-Ukraine conflict, and mentioning China only twice while talking about international competition on the economy and technology.
Brent crude futures rose to $98.11 a barrel in London on Monday, up 4.4 percent. The price of gold exceeded $1,900 an ounce while the euro and pound fell 1.25 percent and 0.6 percent, respectively, against the US dollar. The offshore Chinese yuan fell 145 basis points against the dollar and the Russian currency plunged from 83 rubles on February 25, to 117 rubles per dollar three days later.
During his icebreaking visit to China in 1972, U.S. President Richard Nixon was invited by Chinese leaders to recommend the best American enterprises from 10 sectors to drive economic exchanges between the two countries. Honeywell UOP, a supplier and licenser of petroleum refining solutions operated by technology and manufacturing giant Honeywell International Inc., was the only company in its field named by Nixon.
The “Two Sessions” is an annual event and is usually held in March every year, when thousands of Chinese lawmakers participate in devising the future course of action in every dimension of China's development and its people's wellbeing.
China on Thursday denied backing Russia’s military assault in Ukraine as it trod a cautious line in response to a conflict that many Chinese analysts just days before were predicting wouldn’t happen.
Now that Russia has launched its massive invasion of Ukraine, it might be useful to look back at some of the discussion in the West prior to this event, and to think ahead to what may come next.
All eyes are on the Russia-Ukraine military conflict, which has become the top news around the world these days. Leaders of the U.S., NATO and EU states have all condemned Russia and announced a set of most severe sanctions.
High-level talks between Kiev and Moscow finally began in the Ukraine-Belarus border on Monday. Chinese experts acknowledged the significance of the talks, which at least reflected some willingness from both sides, but predicted that hopes were not high for a major breakthrough during the first round of the talks as the conflict has reached its fifth day.
The number of stock accounts in China's A-share market has exceeded the 200 million mark for the first time, indicating the growing attractiveness and influence of the nation's capital market, as well as the yuan's appreciation, experts said.
Contrary to the superficial analysis in much of the Western media, the escalating crisis in Ukraine is not a product of any psychopathology on the part of Vladimir Putin. Nor has it emerged out of thin air. It represents the culmination of a storm that has been brewing for many years.
U.S. Commerce Secretary Gina Raimondo recently said the United States is launching discussions with Indo-Pacific countries regarding its Indo-Pacific Economic Framework, or IPEF. She made it clear that U.S. will not be joining the CPTPP or other regional free trade arrangements.
The phoney war is over. The real war has begun. For several weeks, the US and British governments have believed that Vladimir Putin was intent on a full-scale invasion of Ukraine. That is now happening.