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Wang Yi “China’s reform and opening up is in line with the interests of the Chinese people”

in ECONOMY/FAR EAST by

China’s Foreign Minister Wang Yi, speaking at a business conference as part of the Greater Mekong Subregion Summit in Hanoi, in Vietnam, said China wants to share its development opportunities with other countries, but protectionism will mean closing the door into China. “China’s reform and opening up is in line with the interests of the Chinese people, and will also benefit other countries” Wang said, adding China will provide an even better investment environment for foreign companies, but he also added “Opening up should work both ways. China opens itself to other countries and hopes others will be open to China”.

Wang also said the country’s reform and opening up policy will neither be changed nor be affected by any external factors, referring to U.S. President Donald Trump’s move last week to slap up to $60 billion in tariffs on some Chinese imports.

China unhappy with US aircraft carrier’s visit to Vietnam, state media says

in ASIA/DEFENCE/FAR EAST/PRESS RELEASE by
The Global Times said Beijing is “unhappy” with the visit of a US aircraft carrier to a Vietnamese port and is monitoring developments. But the USS Carl Vinson’s visit is unlikely to alter the balance of power in the South China Sea, which China claims in its entirety and has been fortifying with military structures on man-made islands; the visit “will not generate any special tools to pressure China”, while the US sending warships to the South China Sea will “only waste money”, Global Times  said.
 Vice-Admiral Phillip Sawyer, commander of the US 7th Fleet, said the port call was a sign of the United States’ commitment to the region and US-Vietnam ties. The visit by the USS Carl Vinson with more than 5,000 crew marks the largest US military presence in Vietnam since the Southeast Asian nation was unified under Communist leadership after the war ended in 1975.

North Korea earned $200 million from banned exports, sends arms to Syria, Myanmar – U.N. report

in ASIA by

A UN report said North Korea violated United Nations sanctions in 2017 earning nearly $200 million with banned commodity exportation, in particular coal to Russia, China, South Korea, Malaysia and Vietnam and weapons to Syria and Myanmar.

Sisi signs nine MoUs in economic fields during Vietnam visit

in AFRICA/PRESS RELEASE/REGIONS by

Egypt has signed nine memorandums of understanding with Vietnam in various economic fields. Presidential spokesman Alaa Youssef said the memos were signed during President Abdel-Fattah El-Sisi’s visit to Vietnam on Wednesday, where he met with Vietnam’s President Tran Dai Quang. The MoUs included references to establishing ports and maritime trade.According to Youssef’s statement, Quang hailed Egypt’s leadership and achievements over the past three years in restoring security and stability, adding that El-Sisi’s visit to Vietnam will give a major push to bilateral cooperation.His visit was the first such by an Egyptian president to Vietnam since 1963.

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