projects, including highway, railway, airport and power stations. However, in the face of local protests, the effectiveness of Modi’s economic package, delivered just a few months before the
election, seemed very suspicious. Interestingly, because of the tremendous opposition against the Bill and the frustrating situation on the g
round, BJP’s top local politician who was defending the bill changed his tune almost as soon as Modi left.
Clearly, Modi’s twin election trick, which comprised both nationalistic and developmental ele
ments, was clearly at work during his visit to disputed South Tibet. However, sacrificing the pa
instakingly earned mutual trust and progress in Sino-Indian relations for the sake of ephemeral political benefits seems unwise.
Even though India and China have so far held 21 rounds of talks to resolve the border dispute, and Modi and President Xi have met at least four times in 2018 to bring b
ilateral ties back on a stable footing, the border issue remains the single-most sensitive topic between the two countries. While
the dispute between China and India remains too large to be resolved altogether, both sides would better carefully manage it.
t impedes China-India relations, some Chinese scholars advise that China take India’s concern more into account. But Liu Zongyi, a senior fellow of the Shanghai I
nstitutes for International Studies, told the Global Times that India should, first of all, mind its approach. Should New Delhi resort to quiet dipl
omacy instead of extensively directing aggressive rhetoric to pressure Beijing, the Azhar issue could have been better addressed.
Terrorism in India poses a significant threat to Indians. Without solid evidence, India has long accu
sed Pakistan of sponsoring terrorist attacks by Jaish-e-Mohammed and other militant groups and China
of providing uncritical support for Pakistan. Instead of simply blaming other countries, especially Pakistan and China, shouldn’t the Indian government ma
ke more self-introspection on its anti-terrorism policy and dwell more on how to better administer the India-controlled part of Kashmir?
China and Pakistan are not enemies of India in countering terrorism. Despite the India-Pakistan dispute, New Delhi has comm
on interests in fighting terrorism with Islamabad and Beijing. It’s suggested India abandon suspicions and the three countries enhance consult
ations on regional security and strengthen anti-terrorism cooperation. Last August for the first time the militaries of India and Pakistan took part in
a mega anti-terror drill of the Shanghai Cooperation Organization (SCO) in Russia aimed at expanding cooperation among member countries to de
al with the growing menace of terrorism and extremism. Such momentum shouldn’t be disrupted.
With the approaching general election in India, nationalism could be easi
ly fanned and used by politicians to woo support. Blaming China and Pakistan for the terr
orist attack will arouse Indians’ anxieties over neighboring countries. A tough stance by the BJP government may help the
ruling party win more support. But this will risk anti-terrorism cooperation being sabotaged for the political interests of parties in India.
Mount Qomolangma National Nature Reserve in China’s Tibet Autonomous Region has ban
ned ordinary tourists from entering its core zone to better conserve the environment of the world’s highest mountain.
But for travelers who have a climbing permit, the mountai
neering activities will not be affected, according to the reserve which was set up in 1988.
Covering an area of around 33,800 square km including a 10,312-square km co
re zone, the reserve is home to one of the world’s most vulnerable ecosystems.
Recently, a report went viral online claiming the Qo
molangma base camp was “permanently closed due to heavy pollution.” But local authorities denied the claim.
Kelsang, deputy director with the reserve’s admin
istration, said ordinary tourists are banned from areas above Rongpo Mo
nastery, around 5,000 meters above sea level. A new tent camp will be set up nearly two km away from the original one.
China after Spring Festival. Before embarking on their next move in interest rate reform, however, policymakers need to assess dom
estic macroeconomic conditions in order to reduce financing costs. It is more urgent to let the financial market determine the lending rate, Sun said.
“We hope (policy fine-tuning) will not surprise the market when it is introduced,” Sun said.
Communication with other countries is also needed before launching new policies or introdu
cing creative monetary policy tools, and “the PBOC has good communication mechanisms with other c
entral banks including the US Federal Reserve and the European Central Bank”, Sun said.
Last year, the PBOC removed some constraints on credit, including liquidity in
jection through cutting the reserve requirement ratio four times and capital rep
lenishment by allowing commercial banks to issue perpetual bonds, which have no maturity rate, he said.
Chinese commercial banks, however, are still using the one-year lending rate of 4.35 percent — th
e rate commercial banks charge businesses — set by the central bank in 2015. It is higher than in
terbank market rates or the interest rates banks have been paying to the central bank of 3.05 to 3.30 percent.