The Chinese city of Quanzhou, previously known as one of the four largest seaports for foreign trade in China, was enriched by the ancient Maritime Silk Road. This year marks the third time for the city to hold the Maritime Silk Road International Arts Festival, which opened on December 10.
China should prioritize financial stability above development goals, as pursuit of regional growth targets and helping firms avoid heavy job losses had led to a surge in debt, particularly at local government level, the International Monetary Fund said.
The United States is using the North Korean issue in order to maintain a military foothold on the East Asian mainland as a counter to China, says Professor Dennis Etler, an American political analyst who has a decades-long interest in international affairs.
The International Monetary Fund (IMF) has claimed that China risks facing a growing debt-dependency in its banking system, urging Beijing to increase its capital buffers to protect against a possible “financial crisis.”
Chinese authorities have again warned against moves that could escalate the crisis on the Korean Peninsula, saying parties to the conflict should avoid actions that add to the already simmering tensions in the region.