US President Joe Biden with Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Co-operation summit, in California, last November. Many in the West seem reluctant to draw up a chair and do business with China. Reuters
US President Joe Biden with Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Co-operation summit, in California, last November. Many in the West seem reluctant to draw up a chair and do business with China. Reuters
US President Joe Biden with Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Co-operation summit, in California, last November. Many in the West seem reluctant to draw up a chair and do business with China. Reuters
US President Joe Biden with Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Co-operation summit, in California, last November. Many in the West seem reluctant to draw up a c


Much of the world can see what China has to offer. Why can't the West?


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October 16, 2024

Harsh words about China from the US State Department are par for the course. So when Chinese forces conducted a military exercise around Taiwan on Monday in the wake of a National Day address by the island’s President Lai Ching-te, it wasn’t entirely a surprise that State Department spokesman Matthew Miller claimed the war games were “provocations” that were “unwarranted” and risked “escalation”.

Mr Miller said they were in response to what he called “a routine annual speech”. But of course, it was nothing of the sort. Mr Lai had used the occasion to publicly announce that he would “resist annexation or encroachment upon our sovereignty” and said that “the People's Republic of China has no right to represent Taiwan”. From the point of view of Beijing, which views the island as a renegade province, that certainly constituted a provocation, as was Mr Lai’s claim a few days earlier that the island was already a “sovereign and independent country”.

Only 12 rather small countries agree with him. The rest of the world officially does not. Alluding to the fact that Taiwan is only separate from the mainland because the losing side of China’s civil war retreated to the island in 1949, one long-time participant in Asia-Pacific dialogues said to me on Tuesday night: “After the US Civil War, did the North allow part of the South to go its own way?” He added, only half tongue-in-cheek: “China’s been too soft.”

In any case, more and more countries are rejecting the western approach. Take the Gulf, for instance. On November 1, the UAE and China will mark 40 years of diplomatic ties, and there will be much to celebrate. The UAE Founding Father and first president, Sheikh Zayed bin Sultan Al Nahyan, became the first leader from the Gulf to visit China in 1990, reciprocating Chinese president Yang Shangkun’s visit to the UAE the previous year.

Delegates at the UAE -China Business Forum held in Dubai. Pawan Singh / The National
Delegates at the UAE -China Business Forum held in Dubai. Pawan Singh / The National

This laid the foundations for a relationship that has grown into a Comprehensive Strategic Partnership, with the UAE an engaged participant in China’s Belt and Road Initiative (BRI), non-oil trade between the countries reaching $81 billion in 2023, numerous initiatives aimed at building closer connections between the two peoples, and the friendship further sealed by President Sheikh Mohamed’s visit to the People’s Republic this May.

Just under two years ago, the Gulf Co-operation Council and China held their first summit in Riyadh, at which President Xi Jinping said the two sides were natural partners for co-operation and had written together a splendid chapter of solidarity, mutual assistance and win-win co-operation.

Chinese President Xi Jinping with South Africa's President Cyril Ramaphosa and Senegal's President Macky Sall attend the 2018 Beijing Summit of Forum on China-Africa Co-operation joint news conference at the Great Hall of the People in Beijing, China, on September 4, 2018. Reuters
Chinese President Xi Jinping with South Africa's President Cyril Ramaphosa and Senegal's President Macky Sall attend the 2018 Beijing Summit of Forum on China-Africa Co-operation joint news conference at the Great Hall of the People in Beijing, China, on September 4, 2018. Reuters

China’s ties are deepening with the African continent as well. In September the Forum on China–Africa Co-operation drew over 50 heads of government to Beijing. Mr Xi promised $51 billion in loans, investment and aid over the next three years, the upgrading of diplomatic ties, and the creation of at least one million jobs. "China and Africa account for one-third of the world population,” he said. “Without our modernisation, there will be no global modernisation." One attendee, Dennis Mwaniki from the Africa Policy Institute in Nairobi, Kenya, approved. The BRI, he told a TV reporter, was a “game changer”. The continent had come from a period of underdevelopment that put Africa “on the menu”, as he put it – but the BRI had made it “part of the table, to be making decisions as global citizens”.

Crucially, the Chinese leadership is listening and responding to what the continent’s leaders are telling them about the kinds of investments that will help them best. As Linda Calabrese of the UK’s Overseas Development Institute wrote in an analysis just after the forum: “In 2021, Xi introduced the concept of 'small and beautiful' projects better targeted at the partner country’s needs – a concept he repeated at the recent summit. It is this alignment with the requests of African leaders that differentiates China’s engagement with Africa from that of the West.”

So what of the West? There used to be politicians who were positive about relations with China. In 2012, the Princeton academic Aaron Friedberg wrote in these pages that there was in Washington “a loosely integrated pro-engagement ‘lobby’ whose members favour preserving good relations with China at almost any price”. At the same time, then UK prime minister David Cameron was still talking of a “golden era” of ties with China, and as late as 2015 took Mr Xi for a pally drink in an English countryside pub.

What of the West? There used to be politicians who were positive about relations with China

But if there is still a “pro-engagement lobby” in the US it has gone extremely quiet, and my own view – that we should all work with China, peacefully and for mutual benefit – has apparently been completely excluded from the political mainstream in the UK. It seems to have become an article of faith that Beijing is not just a competitor but also a threat – although to whom or to what is never adequately explained.

There could be all sorts of reasons for this change in attitudes, too many to go into here. But I wonder if Mr Mwaniki has put his finger on one of them. In the Gulf, Africa, South-East Asia and beyond, many are more than happy to share the table with China. No one in Europe and North America would be as crass as to say they preferred the situation in the 19th century, when China and the Global South were all on “the menu” as far as some predatory western powers were concerned. But they seem reluctant to draw up a chair.

Perhaps their worries about China’s great strides in the technologies of the future mean they fear ending up on “the menu” themselves. I can’t see it happening soon, but there is time to change their minds, if only they can see what the rest of the world can – that there is plenty of room “at the table” for all.

Brief scores:

Day 2

England: 277 & 19-0

West Indies: 154

THE SPECS

Engine: 3.6-litre V6

Transmission: nine-speed automatic

Power: 310hp

Torque: 366Nm

Price: Dh200,000

Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

Results

Stage 7:

1. Caleb Ewan (AUS) Lotto Soudal - 3:18:29

2. Sam Bennett (IRL) Deceuninck-QuickStep - same time

3. Phil Bauhaus (GER) Bahrain Victorious

4. Michael Morkov (DEN) Deceuninck-QuickStep

5. Cees Bol (NED) Team DSM

General Classification:

1. Tadej Pogacar (SLO) UAE Team Emirates - 24:00:28

2. Adam Yates (GBR) Ineos Grenadiers - 0:00:35

3. Joao Almeida (POR) Deceuninck-QuickStep - 0:01:02

4. Chris Harper (AUS) Jumbo-Visma - 0:01:42

5. Neilson Powless (USA) EF Education-Nippo - 0:01:45

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Results
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TECH%20SPECS%3A%20APPLE%20IPHONE%2014%20PLUS
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COMPANY%20PROFILE
%3Cp%3EFounder%3A%20Hani%20Abu%20Ghazaleh%3Cbr%3EBased%3A%20Abu%20Dhabi%2C%20with%20an%20office%20in%20Montreal%3Cbr%3EFounded%3A%202018%3Cbr%3ESector%3A%20Virtual%20Reality%3Cbr%3EInvestment%20raised%3A%20%241.2%20million%2C%20and%20nearing%20close%20of%20%245%20million%20new%20funding%20round%3Cbr%3ENumber%20of%20employees%3A%2012%3C%2Fp%3E%0A
Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

What is blockchain?

Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.

The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.

Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.

However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.

Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.

SUCCESSION%20SEASON%204%20EPISODE%201
%3Cp%3E%3Cstrong%3ECreated%20by%3A%20%3C%2Fstrong%3EJesse%20Armstrong%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Brian%20Cox%2C%20Jeremy%20Strong%2C%20Kieran%20Culkin%2C%20Sarah%20Snook%2C%20Nicholas%20Braun%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A

Rainbow

Kesha

(Kemosabe)

The specs: 2018 Ducati SuperSport S

Price, base / as tested: Dh74,900 / Dh85,900

Engine: 937cc

Transmission: Six-speed gearbox

Power: 110hp @ 9,000rpm

Torque: 93Nm @ 6,500rpm

Fuel economy, combined: 5.9L / 100km

'O'
%3Cp%3E%3Cstrong%3EAuthor%3A%3C%2Fstrong%3E%20Zeina%20Hashem%20Beck%3Cbr%3E%3Cstrong%3EPages%3A%3C%2Fstrong%3E%20112%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Penguin%20Books%3Cbr%3E%3Cstrong%3EAvailable%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A

Profile Periscope Media

Founder: Smeetha Ghosh, one co-founder (anonymous)

Launch year: 2020

Employees: four – plans to add another 10 by July 2021

Financing stage: $250,000 bootstrap funding, approaching VC firms this year

Investors: Co-founders

Result

Arsenal 4
Monreal (51'), Ramsey (82'), Lacazette 85', 89')

West Ham United 1
Arnautovic (64')

Abu Dhabi Equestrian Club race card

5pm: Abu Dhabi Fillies Classic (PA) Prestige; Dh110,000; 1,400m
5.30pm: Abu Dhabi Colts Classic (PA) Prestige; Dh110,000; 1,400m
6pm: Maiden (PA); Dh80,000; 1,600m
6.30pm: Abu Dhabi Championship (PA) Listed; Dh180,000; 1,600m
7pm: Wathba Stallions Cup (PA) Handicap; Dh70,000; 2,200m
7.30pm: Handicap (PA); Dh100,000; 2,400m

The lowdown

Rating: 4/5

Pots for the Asian Qualifiers

Pot 1: Iran, Japan, South Korea, Australia, Qatar, United Arab Emirates, Saudi Arabia, China
Pot 2: Iraq, Uzbekistan, Syria, Oman, Lebanon, Kyrgyz Republic, Vietnam, Jordan
Pot 3: Palestine, India, Bahrain, Thailand, Tajikistan, North Korea, Chinese Taipei, Philippines
Pot 4: Turkmenistan, Myanmar, Hong Kong, Yemen, Afghanistan, Maldives, Kuwait, Malaysia
Pot 5: Indonesia, Singapore, Nepal, Cambodia, Bangladesh, Mongolia, Guam, Macau/Sri Lanka

Roll of honour 2019-2020

Dubai Rugby Sevens

Winners: Dubai Hurricanes

Runners up: Bahrain

 

West Asia Premiership

Winners: Bahrain

Runners up: UAE Premiership

 

UAE Premiership

Winners: Dubai Exiles

Runners up: Dubai Hurricanes

 

UAE Division One

Winners: Abu Dhabi Saracens

Runners up: Dubai Hurricanes II

 

UAE Division Two

Winners: Barrelhouse

Runners up: RAK Rugby

THE DETAILS

Kaala

Dir: Pa. Ranjith

Starring: Rajinikanth, Huma Qureshi, Easwari Rao, Nana Patekar  

Rating: 1.5/5 

The Cockroach

 (Vintage)

Ian McEwan 
 

COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Dooda%20Solutions%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Lebanon%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENada%20Ghanem%0D%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20AgriTech%0D%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%20%3C%2Fstrong%3E%24300%2C000%20in%20equity-free%20funding%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2011%3C%2Fp%3E%0A
Company profile

Date started: December 24, 2018

Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer

Based: Dubai Media City

Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)

Sector: ConsumerTech and FinTech

Cashflow: Almost $1 million a year

Funding: Series A funding of $2.5m with Series B plans for May 2020

KEY DEVELOPMENTS IN MARITIME DISPUTE

2000: Israel withdraws from Lebanon after nearly 30 years without an officially demarcated border. The UN establishes the Blue Line to act as the frontier.

2007: Lebanon and Cyprus define their respective exclusive economic zones to facilitate oil and gas exploration. Israel uses this to define its EEZ with Cyprus

2011: Lebanon disputes Israeli-proposed line and submits documents to UN showing different EEZ. Cyprus offers to mediate without much progress.

2018: Lebanon signs first offshore oil and gas licencing deal with consortium of France’s Total, Italy’s Eni and Russia’s Novatek.

2018-2019: US seeks to mediate between Israel and Lebanon to prevent clashes over oil and gas resources.

How to come clean about financial infidelity
  • Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
  • Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help. 
  • Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
  • Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
  • Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported. 

Carol Glynn, founder of Conscious Finance Coaching

Updated: October 22, 2024, 7:19 AM