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Media Report
March 27 , 2015
  • "South Korea is seeking to be a founding member of Beijing's latest globalization push, the Asian Infrastructure Investment Bank (AIIB). South Korea marks yet another Washington ally that has expressed a desire to join the bank despite U.S. misgivings about it. China has basically been left out of having any say within the large Bretton Woods institutions - International Monetary Fund and the World Bank. In creating the AIIB, China is basically saying that they are willing to go it alone in helping to fund southeast Asia's massive infrastructure needs...The U.S. said it welcomed the AIIB, but essentially doubted China's dedication to labor and human rights in large scale projects, let alone environmental standards that are factored into World Bank loans. Japan remains in the U.S.'s corner on this one and has refrained from joining," writes Forbes.
  • According to Reuters, "China's Foreign Ministry expressed serious concern on Friday after the Philippines said it would resume repair and reconstruction works on disputed islands in the South China Sea, saying Manila was infringing on Chinese sovereignty. The Philippines had halted activities last year over concerns about the effect on an international arbitration complaint filed against China. Manila called on all countries last October to stop construction work on small islands and reefs in the South China Sea, most of which is claimed by China. China itself is undertaking massive reclamation works in the area, while Taiwan, Malaysia and Vietnam have also been improving their facilities."
  • "China is reducing coal use for power generation faster than expected as the use of cleaner-burning fuels and slowing economic growth drags thermal utilization rates to a potential record low, implying imports and prices will fall further. Beijing said this month it will go all out to curb its addiction to coal to reduce pollution, raising fresh doubts about demand from the world's top consumer of the fuel just after imports slumped a third in February from a year ago. Clean-fuel policies, as well as an economy growing at its slowest pace in 25 years, are driving lower coal use, with power companies using a greater mix of hydro, nuclear and renewable options, especially wind. Coal still makes up nearly two-thirds of China's energy mix, but utilization rates at thermal power plants - nearly all coal-fired - have dropped to 52.2 percent in the first two months of this year," Reuters reports.

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