China (6do encyclopedia)230512



China, officially known as the People’s Republic of China (PRC), is a country located in East Asia. With a population of over 1.4 billion, it is the world’s most populous country. China is also the fourth-largest country in terms of land area, covering approximately 9.6 million square kilometers. China has a rich history and culture that spans over 5,000 years, making it one of the world’s oldest civilizations.

Geography

China shares borders with 14 countries, including Russia, India, Mongolia, Kazakhstan, and North Korea. The nation is also bordered by two major oceans, the Pacific Ocean to the east and the Indian Ocean to the south. The Chinese territory is divided into 23 provinces, five autonomous regions, four municipalities, and two special administrative regions.

China is known for its incredible landscape, from towering mountain ranges to vast deserts to lush plains. The Himalayas, including Mount Everest, the world’s highest mountain peak, are located along the southwestern edge of China. The Taklamakan and Gobi deserts cover vast areas of the country’s northwestern region. To the southeast, the Yangtze River is China’s longest river, flowing through some of the country’s most populous and economically important regions.

Climate

China’s climate varies greatly depending on the region. The country has a predominantly temperate climate, with tropical climates found in southern China, and subarctic climates in the northeastern region. In general, the northern parts of China experience harsh winters with heavy snowfall, while the south experiences hot and humid summers with occasional typhoons.

Culture

China’s rich culture is reflected in its language, food, art, literature, and philosophy. Chinese culture has been greatly influenced by Confucianism, Taoism, and Buddhism. These teachings advocate for a moral and ethical way of life, stressing the importance of family, respect for elders, and loyalty.

One of China’s most popular cultural exports is its cuisine. Chinese food has a reputation for being delicious, varied, and often quite healthy. Common ingredients include rice, noodles, vegetables, tofu, and seafood. Additionally, China is also known for its traditional arts such as calligraphy, painting, and music.

Economy

China is the world’s second-largest economy and the largest in terms of purchasing power parity. The country has undergone rapid industrialization and modernization over the past few decades, following economic reforms in the 1980s. China is now the world’s largest manufacturer, producing a wide range of goods, including electronic products, textiles, and heavy machinery.

In recent years, China has placed a greater emphasis on developing its service sector and high-tech industries. Internet services, e-commerce, and mobile payments have become ubiquitous in China, with companies like Alibaba, Tencent, and Huawei at the forefront of innovation.

Politics

China is run by a single-party socialist state, with the Communist Party of China (CPC) as the ruling party. The President of China is the head of state and is currently Xi Jinping, who also serves as the General Secretary of the CCP and the Chairman of the Central Military Commission.

China is known for its strict censorship policies, with restrictions on freedom of speech and press. The government has also been criticized for its treatment of ethnic minorities and political dissidents.

Foreign relations

China has experienced significant growth in its international influence and has become increasingly involved in international affairs. China is a permanent member of the UN Security Council, has maintained close relations with other Asian countries, and has played a role in mediating conflicts in the region. Additionally, China has become more involved in African nations through aid and infrastructure projects. China has also been at the forefront of efforts to address global issues, such as climate change and the fight against global pandemics.

Conclusion

China is a vast and diverse country that has played a significant role in world history and remains a major global power. With a strong economy, rich culture, and vast natural resources, China remains a country to watch in the future.


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Japan takes issue with Time’s headline for Kishida interview

Japan Times

23-05-12 03:11


The Japanese Foreign Ministry has criticised Time magazine for a misleading headline concerning Japan’s defence policy. The online headline of the magazine’s forthcoming edition read: “Prime Minister Fumio Kishida is turning a once pacifist Japan into a military power.” The ministry had the headline changed to “is giving a once pacifist Japan a more assertive role on the global stage.” However, the print edition strapline remains “Prime Minister Fumio Kishida wants to abandon decades of pacifism – and make his country a true military power.” Kishida’s policies include a commitment to working for nuclear disarmament alongside a doubling of defence spending amid China’s growing local influence.

https://www.japantimes.co.jp/news/2023/05/12/national/time-kishida-headline-criticism/
China, Australia Trade Ministers Meet in Beijing to Ease Dispute

Bloomberg

23-05-12 03:05


China and Australia’s trade and commerce ministers will hold the first in-person meeting since 2019 to negotiate the end of sanctions on billions of dollars worth of Australian agricultural exports. The aim of the talks is to stabilise the trade relationship between the two nations, which has been prolonged by issues of increased foreign interference in Australian domestic politics. Although China has been Australia’s largest trading partner for several years, the two nations have become increasingly polarised since 2017. Since taking office in 2020 the Labor government has aimed to ease tensions with Beijing, resulting in the resumption of Australian coal exports to China.

https://www.bloomberg.com/news/articles/2023-05-12/china-australia-trade-ministers-meet-in-beijing-to-ease-dispute?srnd=next-china
Vast China-Russia resources trade shifts to yuan from dollars in Ukraine fallout

Japan Times

23-05-12 02:40


China is increasing its use of the yuan to buy Russian commodities, with almost every purchase of oil, coal and some metals from Russia now settled in the Chinese currency rather than the US dollar. Total settlements on Cross-Border Interbank Payment System (CBIPS), China’s alternative to the SWIFT international payment system, increased 21.5% YoY to CNY96.7tn ($14.02tn) in 2022. China’s trade using the yuan is expected to increase primarily for commodity and energy trade. China's increasing use of the yuan to pay for large scale commodities follows Beijing's push over a decade ago to internationalise the yuan.

https://www.japantimes.co.jp/news/2023/05/12/business/china-russia-trade-shift-yuan/
China Bond Watchdog Probes Major Banks’ Debt-Issuance Work

Bloomberg

23-05-12 02:31


China's National Association of Financial Market Institutional Investors (NAFMII) has expanded its probe into the country's primary corporate-debt market with probes into China Construction Bank, Export-Import Bank of China, and China Minsheng Bank. Regulators are investigating practices such as charging underwriting fees below market rates and significant price gaps between primary and secondary market prices. This increased scrutiny follows years of pressure by Chinese securities regulators to improve oversight of the country's debt market.

https://www.bloomberg.com/news/articles/2023-05-12/china-bond-watchdog-probes-major-banks-debt-issuance-work?srnd=next-china
Dollar keeps gains as traders bet Fed headed for a pause

Reuters

23-05-12 02:20


The US dollar advanced to a more than one-week high after a number of data released overnight suggested the US economy was slowing and the Federal Reserve would continue to pause on interest rate increases. The dollar index, which measures the US currency against six peers, was up 0.059% to 102.02, not far from the overnight peak of 102.15, reached on 2 May. The index is set to break a two-week losing streak, having risen 0.7% this week.

https://www.reuters.com/markets/currencies/dollar-keeps-gains-traders-bet-fed-headed-pause-2023-05-12/