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Posts Tagged ‘China-UK comprehensive strategic partnership’

China will drive a hard bargain with post-Brexit UK

Posted by seumasach on January 25, 2017

It’s sad to think back on how I covered in these pages the emerging strategic partnership between the UK and China and how we spurned the whole thing in favor of Brexit. That was a highpoint in UK diplomacy which will never again be attained not only because a coherent UK state will likely no longer exist but also because our being a gateway into Europe would have been  the key element in that partnership.

Emanuele Scimia

Asia Times

23rd January, 2017

In her January 17 speech outlining Britain’s rough plan for exiting the European Union (EU), British Prime Minister Theresa May hailed Brexit as an opportunity to advance a “truly Global Britain” that “goes out into the world to build relationships with old friends and new allies alike.”

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Is Britain’s Theresa May reversing David Cameron’s China policy?

Posted by seumasach on August 2, 2016

The coup in Brazil bringing into question both the BRICS and Mercosur, Brexit and the dismissal of Osborne, the Conservative Party Human Rights Commission report on human rights in China, the Hague ruling on the South China Seas, the weakening of Australia-China ties, the renewed protests in Hong Kong including demands for secession: all these point to the policy of “containment” of China as the dominant theme of US foreign policy under the next presidency. Detente with Russia should be viewed within this context.

Asia Times

2nd August, 2016

Prime Minister Therese May’s decision to delay approving a new nuclear power station partly funded by China at Hinkley Point may be an indication that she will soon be dismantling many of  Cameron government’s policy plans. Hinkley Point being China’s first nuclear power project in the West, Beijing will lose its face if it is canceled.

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May concerned by “gung-ho approach to Chinese investment”

Posted by seumasach on July 30, 2016

In trying to assess the meaning of Brexit one thing is already absolutely clear: Brexit represents a rejection of the kind of top-level state-to-state engagement with China associated with George Osborne. The Comprehensive Strategic Partnership is over. Whether it may be revived later depends largely on whether article 50 is actually ever triggered. From a Chinese viewpoint such a shift would definitely correlate with a Clinton presidency according to a recent analysis in The Diplomat.

May had objections to Hinkley Point, says Cable

BBC

30th July, 2016

Theresa May had “objections” to a new nuclear power station at Hinkley Point during the coalition, the then Business Secretary Sir Vince Cable has said.

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Sterling falls as surveys point to big Brexit hit

Posted by seumasach on July 23, 2016

Cutting interest rates will only further weaken the pound, fueling inflation and further undermining consumer spending. And so, we enter a vicious circle and a downward spiral. Brexit hasn’t caused this underlying economic weakness: it has merely prevented us from using our geopolitical clout to counter it as we could have done, for example, through the Comprehensive Strategic Partnership with China which was based on our role as gateway to Europe and, consequently, our membership of the EU.

Irish Examiner

23rd July, 2016

Sterling fell as reports suggesting that the UK’s manufacturing and services industries contracted in July heightened speculation that the Bank of England will cut interest rates as soon as next month.

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Assessing China’s post-Brexit globalisation strategy

Posted by seumasach on July 21, 2016

“In other words, despite its advantages in financial services and language, the UK’s ability to attract foreign investment is likely to be substituted by other EU countries. Once the UK loses its access to other EU markets after leaving the EU, it will also give away its advantage as a Chinese investment hub in Europe. In the same vein, as London loses part of its share of financial operations related to the EU, other cities such as Paris and Frankfurt should increase their capabilities as financial centres, with each probably specialising in different issues.”

This study confirms the obvious: that the UK will sacrifice a beneficial relationship with China by withdrawing from the EU. The irony is that, contrary to the claims of the Leave Campaign, we have lost strategic autonomy by voting “leave” and now appear to be acting in accordance with US interests. On the other hand, our engagement with China may not have been in good faith from the start, being only the other side of the coin of our anti-Russian foreign policy and our attempt to obstruct the emergence of a Washington-Moscow axis. In this case, Brexit could be seen as a salutary corrective although one which exposes the pre-existing fragility of the British economy.

Breugel

19th July, 2016

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China, Britain and Brexit

Posted by seumasach on June 30, 2016

As I have argue insistently on this blog, the partnership with China is the only solution to Britain’s deeply entrenched economic problems. Brexit would anyway place it at risk but it’s much worse than that: Britain is now run by people openly hostile to Europe. The “golden relationship is now neither politically nor economically in China’s interest. The reality of Britain’s economic plight will now be cruelly laid bare.

Vote to leave EU robs ‘golden relationship’ of its lustre

Guardian

30th June, 2016

It was all sealed over a pint of Greene King IPA.

One Thursday evening in October 2015, David Cameron strode into a Buckinghamshire pub with another of the world’s most powerful men to toast the beginning of a golden era of relations between the UK and China.

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UK should rethink China friendship over human rights

Posted by seumasach on June 27, 2016

After Brexit,  we haven’t had to wait long for the dumping of the Comprehensive Strategic Partnership with China to begin

Guardian

Britain should reconsider its “golden” friendship with China as a result of the unprecedented human rights crisis unfolding under president Xi Jinping, Conservative party MPs will warn this week.

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The golden age of Sino-British relations has begun

Posted by seumasach on April 18, 2016

LSE

23rd November, 2016

China is afraid of a British exit from the European Union. Yu Jie (Cherry) claims that the historic Sino-British strategic partnership in the making is as much about money as it is about power, and hence its importance rests on the UK’s role in a united Europe. Beijing sees its cooperation with London as the foundation of a new world order where China plays a much greater role in international affairs.

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Could Brexit bring the end of the new Sino-British “special relationship”?

Posted by seumasach on April 18, 2016

“The Chinese government, for its part, clearly sees its relationship with Britain as being a linchpin to its relationship with the West more broadly. During President Xi Jinping’s high-profile state visit last October, he announced a new set of large Chinese investments in the British economy. But as I wrote at the time, China was not so much looking for a European friend in London so much as a Western friend that could serve as a link to the United States and the rest of Europe.”

Brookings

17th March, 2016

As Britain prepares itself for the historic June 23 referendum on its membership of the European Union, an unexpected player has entered the debate: China. With Chinese businesses and the government now investing in big, lucrative projects in Britain, they’re clearly worried about the economic implications of Brexit. In recent weeks, Chinese officials and business leaders alike have become more vocal in their support for European unity (and, though they haven’t said it explicitly, for the “stay” campaign).

 

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Decision Time: New Politics, New Economy, New Britain?

Posted by seumasach on March 3, 2016

 

Decision Time: New Politics, New Economy, New Britain?

A speech by Jeremy Corbyn to  the British Chambers of Commerce conference

Labour Press

3rd March, 2016

 

This speech sets out a major policy framework including some notable quotes (with my own comments):

And we cannot outsource economic policy to the City of London. That has not served our economy well, and it has not served business well.

The subordination of the UK economy to City interests is, indeed, at the heart of the matter

The banking sector has to be reformed. Finance must support the economy and not be an extractive industry that treats consumers, entrepreneurs and businesses as cash cows.

Rather than simply going on about capitalism Corbyn clearly distinguishes between predatory finance capital and productive capital in the real economy. Robert Owen the 19th century socialist and entrepreneur who wanted an alliance between the working class and the industrial capitalists against City interests would be very happy with this speech. It is significant that he is addressing the Chamber of Commerce.

We need a national investment bank at the heart of economic policy to target investment on key public and economic priorities, not just for quick returns.

As Den Xao Ping used to say: “whatever you do never lose control of financial system.” We never had control of it but perhaps that’s about to change

For some politicians, the state is only a burden, to be reduced or removed.

But we see a crucial role for the strategic state to create the conditions for people and businesses to thrive and deliver prosperity that is stable and shared.

The term “strategic state” is an absolute taboo in British politics. Are we becoming French dirigistes? If there is one word(or two words) to sound the death knell of the thatcherite consensus, it is this.

Regarding crisis in NHS

First, there is the legacy of PFI debt – an inefficient way of delivering necessary investment.

The last Labour government lacked the confidence to make the argument to borrow to invest, and so it did what banks thought they could get away with before the crash, an off-the-books accountancy wheeze.

In both cases, putting debt off the books did not work it came right back onto the books and helped trigger crisis.

Corby takes  the Blairite legacy head on! Blair put dodgyPFI deals at the heart of his programme

Then there is the problem of infrastructure. Think about the creaking, underfunded infrastructure our country relies on.

Enterprise and innovation cannot flourish when our roads and railways, ports and airports are lagging behind our competitors.

To do this , of course, requires long term investment and planning another no-no in Thatcherite Britain

…we are campaigning to remain in the EU because we believe, like 60 per cent of businesses the BCC surveyed, that the EU is the best framework for trade and cooperation in the 21st century.

None of the above can be accomplished without incoming investment, several hundred billion of which have already been promised by China. He knows that they are awaiting the “yes” vote before committing themselves to this but it is not very politically correct to point this out since the British people are still largely unaware of the fact that we have been living off incoming investment for decades. The difference now is that investment will not be going into UK government bonds but will be direct investment in finance, manufacturing and infrastructure.

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Martin Jacques explains UK’s pivot to China

Posted by seumasach on February 29, 2016

Asia Times

24th February, 2016

Asia Times top writer George Koo recently interviewed Martin Jacques, the author of the global bestseller, “When China Rules the World.” The British journalist and scholar was a guest speaker at a Feb. 18 forum in Palo Alto, Calif. hosted by the Committee of 100 and the Commonwealth Club. The topic was “Why the UK sees China as a friend and the US doesn’t.” Koo moderated and afterwards spoke with Jacques in an exclusive interview for Asia Times.

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