EU Parliament freezes CAI + Egypt's new capital
For traders, offering the right credit together with the product is worthwhile. Car dealerships and electronics stores have been doing so for a long time. China AG is now using this business model to sell the construction of an entire metropolis for six million inhabitants with a parliament building and presidential palace. In Egypt, Chinese companies are building a new capital city – paid for with Silk Road loans. What about the Danaans?
The Comprehensive Agreement on Investment (CAI) is once again the cause of nervousness. The parliament in Brussels is showing a united front against Beijing's strong-arming. And although associations and foundations are not actually part of the treaty, the German Engineering Federation, VDMA, fears being affected by disadvantages. This is remarkable because Germany wanted the treaty with China to secure better conditions in China for precisely such industries.
The Chinese Communist Party was founded on July 23, 1921. The comrades traditionally celebrate their anniversary on July 1 – this time, on the occasion of the great centenary, especially lavishly. We're highlighting various aspects of this remarkable party in a series to mark the occasion. Today, Johnny Erling kicks things off by giving us a guide to reading the CP's official historiography. Its focus is – of course – on Xi Jinping, who occupies much more space in it than Mao or Deng. Like the Vatican, the party presents itself as virtually infallible, including glossing over the disasters of its past.