© The Financial Times Ltd 2014 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
Most people in Washington are dismayed about the turn of events in Ukraine. But there are two groups I have come across that seem pleased: lobbyists for the defence industry and specialists on Europe. At a conference on the future of Europe that I spoke at yesterday at the Centre for Strategic and International Studies (CSIS), one of the other speakers said firmly – “This should be the end of America’s pivot to Asia.” The remark was greeted with widespread approval. Read more
Dozens of aircraft and ships are criss-crossing the South China Sea and Strait of Malacca to search for signs of the Malaysia Airlines Boeing 777 that disappeared while flying from Kuala Lumpur to Beijing early on Saturday morning. And a galaxy of civil and military satellites and high-flying spy planes, capable of distinguishing objects as small as a football, are observing from high in the sky.
FTChinese.com editor-in-chief Lifen Zhang says the focus is not just on China’s economic power but its foreign relations. He also says Chinese business remains cautious about spending its cash piles.
By Martin Arnold, Banking Editor, in Davos
The first of many debates about China at Davos this year made an unexpectedly hostile debut this morning as Zhang Xin, head of Beijing’s biggest property developer Soho, was put on the spot over the country’s crackdown on corruption.
“Your industry is one of the most corrupt in China,” said moderator Andrew Browne, China editor of the Wall Street Journal, as he asked Ms Zhang to share her views on the issue. Read more
It’s back to the pivot. With the Iran deal half-done, the Obama
administration is now starting to shift its attention to Asia. After national
security adviser Susan Rice gave her first speech on the subject last week,
vice president Joe Biden will visit north Asia from Sunday, preparing the
ground for a presidential swing through the region in the spring.
Biden will fly straight into the centre of a new political storm – literally,
in this case – after China declared on Saturday that a large part of the
East China Sea was its own air defence zone. The new Chinese rules
oblige aircraft of other countries to inform Beijing of their flight plans
through the area, or potentially face “defensive emergency measures”. Read more
By Gideon Rachman
Foreign commentators and local bloggers regularly predict that China is heading for an economic and political crisis. But the country’s leaders are in strikingly confident mood. They believe that China can keep growing at more than 7 per cent a year for at least another decade. That would mean the country’s economy – already the second-largest in the world – would double in size. And, depending on the assumptions you make about US growth and exchange rates, it would probably mean that China becomes the world’s largest economy by 2020.
“Let there be no doubt: in the Asia-Pacific of the 21st century, the United States of America is all in”, declared Barack Obama in a speech to the Australian parliament in November 2011. But Asians might be excused for having a few doubts about that now that Obama has cancelled half of his upcoming trip to Asia – so that he can stay at home and concentrate on his budget fight with Congress. For the moment, the president is still planning to travel to the Apec summit in Bali. But even that promise is under review, depending on what’s happening in Washington. It would be acutely embarrassing if Obama cancelled the trip to Apec, since it would be the third time he has failed to show up for a scheduled trip to Indonesia. Previous efforts to visit the country that he lived in as a child were cancelled – in March 2010 and then again in June of that year – because of an argument, first over health-care and then over BP. Read more