As expected, the Chinese government on Sunday adopted a tough stance on Hong Kong, with the National People's Congress Standing Committee (NPCSC) issuing a decision that designates a Beijing-controlled body as a “broadly representative” committee that will nominate candidates for chief executive in one-person, one-vote elections in 2017.
The 110th anniversary of the birth of Deng Xiaoping on Aug. 22 has brought forth a flood of articles and speeches on the late reformer, including a 48-part miniseries on his launching of economic reforms, reversing Chairman Mao Zedong's focus on class struggle and political campaigns.
Spurred by China's economic success in Africa, the United States this month held its first-ever summit with the leaders of the continent. Presidents and prime ministers streamed into Washington for three days of discussions with President Barack Obama and participation in the first U.S.-Africa business forum with business leaders.
The International Monetary Fund (IMF), in its 2014 assessment of the Chinese economy, has advised the country to adopt lower growth targets and to put more emphasis on enacting reforms made public last November. Slower growth now will lead to higher, sustainable growth later, it said, but if reforms are not put in place, GDP growth may well plummet.
In a landmark judgment, a U.S. appellate court has ruled as unconstitutional a decision by an American intergovernmental agency and by President Barack Obama to refuse to allow a Chinese-owned company to buy wind farms in Oregon.
Almost exactly 70 years after the signing of the Bretton Woods agreement, five major emerging economies, known collectively as BRICS, have created new institutions that would initially supplement and could eventually replace the World Bank and the International Monetary Fund, which have failed to respond adequately to the needs of a changing world.
The political track of the United States-China strategic and economic dialogue held last week in Beijing was beset by bickering, such as that over China's maritime disputes and charges and countercharges over cyber espionage, with little of substance achieved. Things were different, however, on the economic track, where there was movement on negotiating a high-quality bilateral investment treaty and reduction of government intervention in the value of the Chinese currency.
While China seems to be an increasingly confident actor on the world stage, within the country, there is a serious lack of confidence in the government, with those who have thrived within the system eager to leave the country, taking their money with them.
Four years ago, China was crowned the world'ssecond largest economy, having overtaken Japan. Three months ago, the World Bank said that in purchasing power parity terms, China would become number one this year, surpassing the United States.
Five years after the global climate change summit in Copenhagen, when the United States and China failed to reach a binding agreement, the situation has improved though much remains to be done if the world is to reach an accord in Paris next year to replace the Kyoto Protocol.