Torbjørn Færøvik's Blog, page 364

How the West invited China to eat its lunch

There were two events in late 2001 that shook the axis of the world. The world was preoccupied with the immediate aftermath of 9/11. But exactly three months later, on 11 December, the World Trade Organization (WTO) was at the centre of an event that was to cast as strong a shadow over the 21st century, changing more people's lives and livelihoods around the world than the attacks on America.Yet

China joined rules-based trading system — then broke the rules

It’s been 20 years since China entered the global trade body, the World Trade Organization, a move that gave it access to the international trade system.Was it worth it? Some officials and lawmakers have regrets, arguing that China’s gains from WTO entry on Dec. 11, 2001, came at an unfair cost to the U.S. economy.Most U.S. lawmakers who paved the way for China’s accession to the WTO by agreeing

Afghanistan: Donors to release frozen funds for food and health aid

International donors have agreed to transfer $280m (£210) from a frozen fund to UN food and health services in Afghanistan, the World Bank says. The country faces a deep humanitarian and economic crisis made worse by the removal of financial support after the Taliban seized power in August. The World Food Programme (WFP) warns that more than half of the population is under threat of acute

‘I wondered whether a bullet had my name on it’: my terrifying 24-hour journey out of Afghanistan

I have bundles of cash stuffed into my socks, and my passport strapped flat against my chest. The passport has a dangerous word in it: reporter. This is the reason I am in disguise, holding a bundle of clothes and sitting in a wheelbarrow in the middle of a huge crowd trying to cross through a Taliban checkpoint into Pakistan. Dozens of people are arriving at the border town of Spin Boldak each

Evergrande can't pay its debts. China is scrambling to contain the fallout

Evergrande has defaulted on its debt. Now Beijing is intervening to prevent a disorderly collapse of the indebted real estate group that could wreak havoc on the world's second biggest economy. Fitch Ratings on Thursday declared that the embattled property developer has entered "restricted default," reflecting the company's inability to pay overdue interest earlier this week on two dollar bonds.

Hong Kong has kept out Covid, but exhausted and depressed pilots are paying the price

Before the pandemic, Hong Kong was an aviation hub attracting pilots from around the world. Two years on, pilots at flagship airline Cathay Pacific are so exhausted and depressed from working under one of the world's strictest quarantine regimes that some are reaching a breaking point.Once known as a premier employer, the Hong Kong-based airline is now grappling with plummeting morale, a spike in

Beijing Winter Olympics boycott is insignificant, says Macron

France has no plans to join a diplomatic boycott of the 2022 Winter Olympics in Beijing, President Emmanuel Macron has said. Mr Macron said any such move would be insignificant and merely symbolic. The US, UK, Canada and Australia have said they will not send government representatives to the February games because of concerns over China's human rights record. This includes allegations of abuse

China: editorial says Communist party members must have three children

An editorial in a Chinese state-run news website has suggested Communist party members are obliged to have three children for the good of the country, as Beijing seeks to address plummeting birthrates.The editorial, which was first published last month, went viral this week and drew sharp reaction from Chinese internet users, with millions of shares, views and comments. As the wave of reaction

Nicaragua cuts ties with Taiwan and pivots to China

Nicaragua has switched diplomatic allegiance to China, leaving Taiwan with just 14 governments around the world that formally recognise it as a country. The announcement, made on Thursday by the Central American country’s foreign ministry, also recognised Beijing’s claim over Taiwan as a Chinese province, a dispute which is at the heart of escalating tensions in the region.“The government of the

New Zealand isn’t naive about China – but it doesn’t accept the Aukus worldview

After the Biden administration’s announcement concerning the “diplomatic ban” of China’s Winter Games, Jacinda Ardern’s government has distanced itself from western allies once again – but it would be wrong to assume that Wellington has any illusions about China. The US government confirmed this week it would diplomatically boycott the Winter Olympic Games to protest against China’s persecution