Bangkok (ESCAP news) – Asia-Pacific economies may see positive trade growth in 2020 but are still facing downside risks from the adverse impacts of the United States – China trade tensions, two new trade briefs by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) released today have revealed. Trade in […]
Tag: China
Posted inPacific News
China leading investor in PNG, Australia drops to second spot
PORT MORESBY, 12 DECEMBER 2019 (THE NATIONAL) — China is the leading investor in the country, followed closely by Australia, Malaysia, the Philippines and Singapore, according to the Investment Promotion Authority (IPA). Managing director Clarence Hoot told the Start-Up PNG convention in Port Moresby on Tuesday that Australia used to be the leading investor in […]
Posted inSports
Basketball player fined for ignoring Chinese national anthem
BEIJING (AP) — China’s professional basketball association fined one of its foreign players on Monday for not paying sufficient attention during the pre-game playing of the country’s national anthem. Nanjing Monkey Kings forward Guerschon Yabusele was given a warning and fined 10,000 yuan ($1,421) by the CBA for his infraction. Footage distributed online showed the […]
Posted inWorld News
Huawei asks court to throw out US telecom funds ban
SHENZHEN, China (AP) — Chinese tech giant Huawei is asking a U.S. federal court to throw out a rule that bars rural phone carriers from using government money to purchase its equipment on security grounds. The lawsuit announced Thursday is Huawei Technologies Ltd.’s second legal challenge this year to Trump administration efforts to reduce its […]
Posted inOpinion
Papua New Guinea faces cash crunch as China repayment schedule ramps up
PORT MORESBY,02 DECEMBER 2019 (REUTERS) — Papua New Guinea’s annual debt repayments to China are forecast to increase 25% by 2023, new budget figures show, at the same time as the Pacific nation falls to its largest ever deficit. The resource-rich archipelago, which is at the centre of a diplomatic tussle between China and the […]
Posted inPacific News
Out with China and in with Canberra: PNG’s new $440m loan
PORT MORESBY, 02 DECEMBER 2019 (ABC) — Papua New Guinea’s budget has revealed Australia’s $440 million (US$300 million) loan “replaces” a proposed Chinese-backed loan, contradicting the Federal Government’s public claim the deal was “completely unrelated” to China. The PNG Government handed down its budget on Thursday, revealing dire levels of debt weighing on the nation’s […]