At the G20 Summit held in Bali under the Indonesian G20 presidency, Chinese President Xi Jinping and Indonesian President Joko Widodo showed warmth when witnessing remotely the test run of the Jakarta-Bandung High-Speed Rail and undertaking bilateral talks. However, while economic relations are on a strong and steady track, sovereignty issues in the South China Sea continue to be a thorn in one’s side.
BRI
Politics
George Yeo, Singapore’s former foreign minister, delivered the Goh Keng Swee Lecture on Modern China to commemorate the 25th anniversary of the National University of Singapore's East Asian Institute on 15 December. In covering issues of the day such as China-US rivalry, the Russia-Ukraine war, and the South China Sea, he concludes that a multipolar world is good for both China and the US. This is the full transcript of his speech.
Politics
Taiwanese academic Chiung-Chiu Huang explains the concept of China’s “international united front” strategy which remains a guiding principle today. By using this softly-softly approach that seeks common ground and low-hanging fruit, China has managed its relations with countries it deems not outrightly hostile. In doing so, it may not win friends, but it may at least make fewer enemies.
Economy
Presidents Xi Jinping and Joko Widodo witnessed the test "ride" of the Jakarta-Bandung High-Speed Rail (HSR) via livestream during Chinese President Xi's visit to Indonesia for the G20 Summit in Bali. Economic cooperation remain high on the cards of bilateral relations, but while China’s trade and investment in Indonesia have grown substantially since the early 2000s, the Indonesian public does not share Jakarta’s desire to wholeheartedly embrace Beijing.
Economy
Two China-driven projects show striking contrasts. The newly opened Phnom Penh-Sihanoukville Expressway has been well-received by Cambodians. But grand plans for Sihanoukville to be an investment hub and “multi-purpose” city have instead seen Chinese businesses crowding out locals, a boom-bust cycle in construction and illicit trades.
Economy
Ahead of the 18th Joint Council for Bilateral Cooperation (JCBC) meetings between Singapore and China — the first to be held in person since the outbreak of the pandemic — Singapore’s Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat sets out a few priorities in taking Singapore-China relations to new heights.
Economy
Despite challenges arising from the slowing Chinese economy, China is likely to continue pushing forward on the BRI, it being a key plank of President Xi Jinping’s foreign policy. Along the way, however, it will have to make certain adjustments for a smooth transition into BRI 2.0.
Politics
Central Asia is a linchpin between Eurasia and Southeast Asia and a strategic node in China’s Belt and Road Initiative. Chinese President Xi Jinping notably visited Central Asia in his first foreign visit in over two years. But while China’s economic engagement is welcome in the region, it is currently not a confident security provider. Could things change in the near future?
Economy
The BRI’s implementation will be slowing down as a result of multiple factors ranging from the global Covid-19 pandemic, the shift in the global geostrategic environment and the Chinese economic slowdown. As it changes its model to suit change, it could focus more on sustainable financing for BRI countries and lower the long-term financial impacts of loans for infrastructure projects. It could also pursue “third-party market cooperation” as a flexible approach in its pursuit of cooperation with other countries under the BRI umbrella. This is the second in a five-part series of articles on the future of China.