Chinese President Xi Jinping’s visit to Cambodia in mid-October 2016 marked Cambodia’s entry into the growing group of nations participating in China’s “Belt and Road” initiative. President Xi pledged Chinese investment for infrastructure projects including a high-speed railway and a new airport in Siem Reap.
The peace deal between the Colombian government and the Revolutionary Armed Forces of Colombia had proposed “reforms aimed at bringing the rebels into the political system, addressing drug trafficking through crop substitution and allowing for reduced prison sentences for rebels who lay down their arms.”
The primary goal of “Make in India” is to make India a global manufacturing hub. Manufacturing currently occupies a 16 percent share of India’s GDP but the government hopes to raise it to 25 percent by 2025.
At the 13th China-ASEAN Expo and China-ASEAN Business and Investment Summit, Chinese Vice Premier Zhang Gaoli said that China will support the building of ASEAN Community, ASEAN’s central role in regional cooperation, and ASEAN to play a greater role in international and regional affairs.
The key challenge in the Brahmaputra River Basin is the rising suspicion and distrust, and the lack of open communications between the countries. Negotiations that have happened so far are essentially bilateral and confidential with no public participation.
The Industrial and Commercial Bank of China is under police investigation over a fraud case reportedly involving RMB 3 billion worth of fake trade bills in the nation’s e-commercial draft system, highlighting the need to set up a more robust financial market framework.
The September 2016 meeting of the BRICS leaders, which occurred on the sidelines of the G20 Summit in Hangzhou, China, was noteworthy as it confirmed the new Brazilian government’s commitment to the BRICS grouping.
The rise of corporate bond defaults and corporate downgrades has renewed calls for the establishment of a credit default swap market in China. The People’s Bank of China appears poised to give the hedging scheme the go-ahead in the near future.
One major issue is the mismatch between local governments’ fiscal capacity and their expenditure responsibility. In recent years, local governments have been responsible for over 80 percent of government expenditure, while being assigned only about 50 percent of government revenue.
Lauded as a great success by Chinese President Xi Jinping, the Hangzhou G20 Summit came to a conclusion on September 5, 2016 with its final communique confirming the necessary consensus for the G20’s long-term vision.