Sunday, April 29, 2012
China has pledged US$10 billion in credit to back joint projects with Central and Eastern European countries. Visiting Chinese Premiere Wen Jiabao announced the deal at a business forum in Warsaw, Poland, and said he hopes the deal will facilitate the two sides’ cooperation.
To boost business and trade, Wen said that China wants to help with infrastructure projects, including new technologies and green economy sectors. Also discussed at the Economic Forum was a new investment cooperation fund which would initially boast US$500 million to assist Chinese investments in the region. He also announced a plan to expand the Chinese market with other countries with hopes to build trade exchange to US$100 billion before the year 2015.
“China will work with countries in Central and Eastern Europe to mutually open the markets and to increase the trade exchange to $100 billion before 2015,” Wen said.
He said trade volume between China and central and eastern European countries reached 52.9 billion US dollars in 2011 and had grown 27.6 percent a year on average since 2001, when it was only 4.3 billion US dollars.
Thus far, the largest Chinese investment has been a €1.2 billion (US$1.6 billion) deal made by China’s Wanhua Industrial Group that gained full control of Borsodchem, a Hungarian chemicals firm. Other recent investments were made in Serbia, where a €170 million (US$225 million) bridge was built over the Danube river in Belgrade.
Prime Minister Donald Tusk of Poland happily welcomed the Chinese investment, noting the country’s uprising economy and European leadership role. Both Wen and Tusk enthused about the potential they say their partnership has and encouraged others in the region to form similar agreements.
The Chinese are “very pragmatic” in business, Andrzej Pawelec of Agrihortus company said, who is seeking new partners in China to sell its beverages. “If they see a good and honest business proposal, they are always open.”
Wen started his official visit to Poland on Wednesday. Poland is the last leg of a four-nation Europe tour that included visits to Iceland and Sweden and the opening ceremony of the Hannover Fair in Germany.
Wednesday, March 12, 2008
Australian Prime Minister, Kevin Rudd faced intense scrutiny in federal parliament on Tuesday following days of speculation that he was considering scrapping cash bonuses to recipients of carer and seniors payments. Questions by the opposition during question time were dominated by the cash bonuses, with leader of the opposition, Brendan Nelson moving to censure the Prime Minister.
It was the first censure motion moved against the Prime Minister since his election last year.
For the past four years, the previous Howard government had made one-off payments to seniors of up to $500 and $1,600 to carers.
Facing repeated questions, the Prime Minister said “I guarantee that carers will not be onedollar worse off as a consequence of the budget”.
Mr Rudd said that the government was also looking at “the challenges of carers and pensioners in the long term” instead of through one-time bonus payments as the previous government had. Mr Rudd then called the opposition the “new party of compassion” and told the house that the Howard government had never committed to the payments in the long term, as they were not in forward budget estimates.
Brendan Nelson then moved a motion to censure the Prime Minister over his plans. During his motion, Dr Nelson called upon the Prime Minister to “get up, for God’s sake, get up, stand in front of that microphone and say to the carers of this country, ‘I, the Prime Minister of Australia, believe in you and will deliver you a lump sum payment in the budget.”
Dr Nelson also accused the Prime Minister of not seeing the significance of the bonus payments for those who receive them. “For someone earning $250,000 a year, a lump sum payment of $1,600 would probablymake them think: ‘What’s that? It’s my credit card payment or whatever.’” said Dr Nelson.
The opposition leader told the House of Representatives that many people had been budgeting for the bonus payment and it was unfair for it to be taken from them. “If you are hanging out for that lump sum payment, it is absolutely essential for your budgeting,” said Dr Nelson.
When the Prime Minister spoke against the motion, he reminded the opposition that a Liberal party document said “A re-elected Coalition Government will consider continuingto pay these bonuses, depending on the economic circumstances at the time.”
Mr Rudd then drew attention to his $500 utilities allowance, which will be paid to aged and disability pensioners as well as carers to counter the rise in the cost of living.
Speaking for the motion, opposition community services spokesman Tony Abbott accused the Rudd government of “compassion fatigue” and said that the cardboard cutout of the Prime Minister which appeared in parliament on the previous sitting day had “more heart than this Prime Minister”.
The censure motion was defeated along party lines.