CiCM 30th September-1st October 2023

NEWS IN CHINA

Third high-level financial dialogue held between China and Germany: Chinese Vice Premier He Lifeng and German Finance Minister Lindner co-chaired the third China-Germany high-level financial dialogue in Frankfurt, Germany on October 1^st. The dialogue has emerged as a vital platform for bilateral communication and policy coordination on financial issues between both countries. China expressed its willingness to collaborate with Germany on vital agreements for a positive influence on their comprehensive strategic partnership. Both sides acknowledged the prevailing global economic risks and signed a ‘25 point consensus’ to aid in financial cooperation. The dialogue emphasized the key role of a WTO rule-based trading system, supporting the G20's case in promoting world economic recovery, and maintaining strong cooperation in the International Monetary Fund (IMF) and the Asian Infrastructure Investment Bank (AIIB) framework. Both nations agreed to jointly host the Sino-German Financial Cooperation Dialogue Forum in 2024 to review their 40 years of financial cooperation.
China and the U.S. engage in a Consultation on Asia-Pacific affairs: In a significant measure to enhance dialogue, China and the United States participated in an Asia-Pacific Consultation in Washington D.C. During the meeting, Chinese Vice Foreign Minister Sun Weidong conducted discussions with U.S. Assistant Secretary of State for East Asian and Pacific Affairs Daniel Kritenbrink. High-priority topics during the meeting included the Taiwan issue and developments in the South China Sea. According to a statement by the Foreign Ministry of China, the two sides conducted a candid, in-depth and constructive exchange of views on China-US relations while addressing their respective regional policies in the Asia-Pacific region. Vice Foreign Minister Sun also elaborated on China's position on the Taiwan question, making it clear that the one-China principle is the cornerstone of its foreign policy. He also stated China's position on the US ‘Indo-Pacific Strategy’ and opposed hostile and dangerous competition. The consultation in Washington was the first of its kind to focus on working-level affairs and engaging officials at the vice-ministerial level.
Chang’e 5 team receives the prestigious ‘Lawrence Team Award’: During the 74th International Astronautical Congress held in Baku, Azerbaijan the Chang’e 5 team achieved the highest accolade from the International Academy of Astronautics. The ‘Lawrence Team Award’ conferred annually represented Chang'e 5's remarkable contributions to technological innovation, scientific exploration, and international collaboration. The mission was a significant milestone in its unmanned lunar sample return mission which brought back 1731 grams of lunar rocks and soil back to Earth, achieving a historic accomplishment. China is also gearing up to launch the Chang'e 6 lunar probe in 2024 with the goal of gathering samples from the moon's far side. If rendered successful, Chang’e 6 will be set to become the first unprecedented mission to gather samples from the moon's far side for the first time.
A Chinese Georgetown University student harassed for pro-democracy stance: Zhang Jinrui, a law student at Georgetown University in the U.S. capital faced harassment from China’s state security police due to his pro-democracy activism on American soil. He revealed that his family was interrogated by state security police back in China and asked about Zhang’s patriotism and activities in the United States which did not align with the ideals of the Chinese Communist Party. Zhang’s ordeal unfolded after his participation in protests supporting the “white paper” movement and opposing Beijing’s hosting of the Winter Olympics. This was furthered by his involvement in the ‘Torch on the Potomac’ group set up by the students at George Washington University, to provide a safe space for dissent for Chinese students. However, reports have come from students regarding the Chinese police stations and student associations intimidating Chinese students who haven’t taken part in any activism at all. This incident has raised concerns about Beijing's enforcement practices reaching overseas activists and students, and the harassment of families in China due to their children’s free speech while overseas.
Hong Kong braces for Typhoon Koinu: Hong Kong is preparing for the impact of an impending severe typhoon, Storm Koinu, set to hit by Friday this week. The tropical storm currently southeast of Taiwan, is expected to intensify into a severe typhoon while moving towards Hong Kong. The city's Observatory has issued warnings and the government is preparing itself for the significant damage and flooding in coastal areas that the typhoon will bring in its wake. Named Koinu, meaning ‘puppy’ in Japanese, the typhoon is going to be comparable to the recent typhoon Saola which had winds exceeding 200km/h near its eye. Previously, Saola added force to China’s approaching typhoon in Shanghai where the authorities had implemented a Level 4 emergency response for flooding in six provincial-level regions. Even though the Central Weather Bureau has not been able to predict the impact of Koinu yet, it can be expected to see a similar level of damage to Hong Kong’s neighbouring regions.

SOCIAL MEDIA CHATTER IN CHINA

Celebrations of the Chinese mid-autumn festival: The Mid-Autumn Festival stands as a significant tradition in Chinese culture and saw many netizens capturing the essence of the festival by posting images and videos of the mid-autumn moon and Chinese customs. During the eight-day public holiday, also called the ‘golden week’, numerous individuals travelled from abroad and urban centres to their hometowns in China, raising the tourism of the country, as well as other destinations like Thailand which saw a surge of Chinese tourists. Chinese diaspora communities worldwide actively participated in various events and expressed their love for their homeland through social media. Additionally, the demand for mooncakes and lanterns surged in international markets, with numerous events held in countries such as Singapore, Canada, and the United States. Many heart-warming scenes of family reunions in Chinese houses, foreign friends immersing themselves in the Mid-Autumn Festival's folk traditions, and the moon’s pictures were also shared by netizens on social media platforms, with the #happymid-autumnfestival receiving 121 million tags.

INDIA WATCH

The recent strengthening of ties between China and Germany with the third-high level financial dialogue should give India the much needed force to embark on talks with Germany on similar fronts of trade and commerce. Today, the growing robustness of India's economy gives it legitimacy to spearhead and demand proactive efforts for furthering trade alliances. While Europe, as a whole, remains a continent of untapped potential for India, the European Union (EU) has historically favoured China making it the preferred investment destination. However, while it can take time for the union as a whole to negotiate a Free Trade Agreement (FTA) with India, the latter should not languish and must work bilaterally with countries like Germany to foster a conducive environment for future partnerships. At the core of India-Germany relations lies the facet of trade with Germany standing as India’s largest trading partner within the EU, and India ranking as the 5^th significant trading partner for Germany. For Germany, India should be a natural answer to its challenges of aging population and stagnant domestic demand. India can make a reliable partner with its young demographic and a growing export-oriented economy to revamp and fortify their economic partnership. In a world coping with China's assertiveness, India must demonstrate to Germany that it can be a reliable partner, one that avoids unwarranted sanctions and trade barriers, issues that have been associated with China in the past. To achieve this, India’s engagement with Germany requires astute diplomatic efforts and proactive economic collaborations to safeguard its interests and promote mutual prosperity.

Prepared By

Taru Ahluwalia

Taru Ahluwalia completed her Post-Graduation in East Asian Studies from the University of Delhi and her Under-Graduation in English from Lady Shri Ram College for Women. She aims to decode the enigma that is East Asia and examine its geopolitical re-positioning in today’s world. She holds a diploma in Korean Language and aspires to learn Chinese one day.