China China always helped Pakistan at crucial time: Minister

[xizhimen]

China always helped Pakistan at crucial time: Minister​

June 24, 2022


ISLAMABAD, Federal Minister for Finance and Revenue Miftah Ismail said that a loan of $2.3 billion from China was expected to be transferred by June 27 and China had also rerolled the safe deposits that were due in June and July.

China always supported Pakistan at a crucial time, “ he maintained, according to China Economic Net (CEN).

“It is our responsibility to save Pakistan from default. And we did it and can say now that Pakistan has been saved from default,” the minister remarked.

He claimed the government had saved the country from bankruptcy by increasing diesel and petrol prices and by remaining continuously engaged with International Monetary Fund (IMF).
He mentioned that the decision to increase petroleum products’ prices was not easy but the government had to take it to save the country.

He observed that Pakistan was now returning to better financial position citing the increasing valuation of rupee against dollar and performance of Pakistan Stock Exchange as examples of the progress.

Earlier in the day on Thursday, Miftah Ismail held a meeting with Pang Chunxue, Charge d’affaires of the Chinese Embassy in Pakistan, who called on him here.

During the meeting, Ismail contended that China-Pakistan Economic Corridor (CPEC) would play an important role in taking Pakistan’s economy forward as well as cementing the bilateral relationship between China and Pakistan.

He highlighted the deep-rooted friendship and brotherly relations between Pakistan and China. The minister affirmed full support and cooperation to Chinese investors and businessmen.

The Chinese Charge d’affaires assured full support and cooperation of Chinese government and said that China was committed to developing the CPEC projects under the vision of shared prosperity and it would further strengthen and expand economic cooperation between the two countries.

Both dignitaries expressed their will for further enhancing the bilateral cooperation in various fields.

China always helped Pakistan at crucial time: Minister - Islamabad Post

ISLAMABAD, Federal Minister for Finance and Revenue Miftah Ismail said that a loan of $2.3 billion from China was expected to be transferred by June 27 and China had also rerolled the safe deposits that were due in June and July. China always supported Pakistan at a crucial time, “ he...

islamabadpost.com.pk

 

[xizhimen]

A friend in need is a friend indeed.

 

[Jagdflieger]

Is Pakistan really a friend? or more of a forced upon strategic alliance partner born out of China's isolationist policy deriving from Mao times?

Personally I wish, that China would not be mentioned in the same context with e.g. Cambodia, N-Korea, Pakistan, etc.
It might be far better for China to point out relationships e.g. USA -Saudi Arabia, and all those other "dubious" USA-allies and "friends". whilst having a "clean" relationship with other countries like Indonesia, Malaysia, Philippines, Thailand and even Vietnam.

Imagine China invading N-Korea! - run off these Kim family criminals and "liberate" 26 million peasants in N-Korea. (at the same time the PLA could gain some "war experience"). Let China run that country for 5-10 years and then give them independence with a CCP styled government.

Sure the USA, Japan and Korea plus the 5 eyes - would whine around - but I am certain the world, especially Asia and S.E.A. population would start to see China very differently. - positive! - N-Korea as it is presently is a 0 economic contributor towards China and Asia. - just my 5 cents.

 

[xizhimen]

North Korea is an extremely important country guarding China's doorway and imposing some heat on US and Japan, without North Korea, China's overall security situation will become direly precarious, this is why China would rather put her everything at stake and take on the superpower US in 1950 over Korea.
If US messed with North Korea today, China will do the same as what she did 70 years ago and US knows it, this is why US always takes a very toned down and carefully calculated approach to North Korean issues.

 

[xizhimen]

SBP receives $2.3bn from Chinese banks, confirms Miftah Ismail
Friday Jun 24 2022

• Miftah Ismail says loan to boost Pakistan's forex reserves.
• Chinese consortium transfers RMB 15b (roughly $2.3b).
• Rupee has depreciated 34% since start of fiscal year 2022-23.

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Finance Minister Miftah Ismail Friday announced that a Chinese consortium loan of RMB 15 billion (roughly $2.3 billion) has been credited into the State Bank of Pakistan's (SBP) account, increasing Pakistan's foreign exchange reserves.


Earlier, Pakistan had signed a loan facility agreement with a Chinese consortium of banks to aid the depleting foreign exchange reserves and depreciation of the local currency.

“We thank the Chinese government for facilitating this transaction,” the finance minister wrote in a tweet after the signing of the agreement.


The agreement with Chinese banks is expected to bolster the country's reserves and enable it to make import payments while lending some support to the rupee as well which has lost over 34% since the start of the outgoing fiscal year 2021-22.

The development came as a massive relief to economic policymakers after foreign exchange reserves held by the SBP fell below $9 billion as of June 10, with the level staying at less than six weeks of import cover.

SBP receives $2.3bn from Chinese banks, confirms Miftah Ismail

Chinese consortium loan of $2.3bn credited into SBP account, increasing country's foreign exchange reserves, says finance minister

www.geo.tv

 

[Jagdflieger]

North Korea is an extremely important country guarding China's doorway and imposing some heat on US and Japan, without North Korea, China's overall security situation will become direly precarious, this is why China would rather put her everything at stake and take on the superpower US in 1950 over Korea.
If US messed with North Korea today, China will do the same as what she did 70 years ago and US knows it, this is why US always takes a very toned down and carefully calculated approach to North Korean issues.

Off course N-Korea is of utmost strategic importance to China. Just as it would be to the USA.
But the USA and it's allies Japan and S-Korea can't do anything about it, without getting China onto their necks. But this isn't my point.

Leave aside those handful of nukes that N-Korea has, the N-Korean army is as useful to China as a newspaper on a toilet - stuffed with rolls of toilet paper.

But a "liberated" N-Korea would be a huge positive economic factor for China,Asia and the world - only a country with a "useful" economy is a useful "friend".
And only an economically strong nation provides a strong military ally.

As I mentioned before - 26 million liberated peasants (Mao's initial goal for China) would be China's true friends for generations to come.

What does Pakistan have to offer? aside from preventing a cordial relationship between China and India?

 

[xizhimen]

Off course N-Korea is of utmost strategic importance to China. Just as it would be to the USA.
But the USA and it's allies Japan and S-Korea can't do anything about it, without getting China onto their necks. But this isn't my point.

Leave aside those handful of nukes that N-Korea has, the N-Korean army is as useful to China as a newspaper on a toilet - stuffed with rolls of toilet paper.

But a "liberated" N-Korea would be a huge positive economic factor for China,Asia and the world - only a country with a "useful" economy is a useful "friend".
As I mentioned before - 26 million liberated peasants (Mao's initial goal for China) would be China's true friends for generations to come.

What does Pakistan have to offer? aside from preventing a cordial relationship between China and India?

Russia used to believe an united Germany would benefit Russia in long term, if Kim lost its power, North Korea will be aborbed into S.Korea soon after thus turn into another US ally , a combined, much strengthened, nuclear armed united Korea as an admant US ally at China doorway is the last thing China wants to see.

 

[Jagdflieger]

Russia used to believe an united Germany would benefit Russia in long term, if Kim lost its power, North Korea will be aborbed into S.Korea soon after thus turn into another US ally , a combined, much strengthened, nuclear armed united Korea as an admant US ally at China doorway is the last thing China wants to see.

And Russia was correct in it's assumption. The reunified Germany injected billions of $ into Russia's economy - and opened the path for Russia's oil and gas to Europe.
Relation's between Russia and Germany were never better in the past 200 years.

Until some Czarist inspired Putin had the idea to face off NATO by invading Ukraine. Knowing that Germany is a NATO member - so what does he expect from Germany? who's present government is doing it's best NOT to escalate the situation.

What makes you think that a by China liberated N-Korea would join up with S-Korea and become a US ally? It would be up to China to make N-Korea and S-Korea their friend and ally.

 

[xizhimen]

What makes you think that a by China liberated N-Korea would join up with S-Korea and become a US ally? It would be up to China to make N-Korea and S-Korea their friend and ally.

If Kim lost their ideological control, Korean nationalism will rise and Koreans are eager to see their nation's reunification just as much as we Chinese do about ours, South Korea can use nationalism card and easily absorb north Korea, there's not much China can do about it, invading and trying to occupy north Korea was never an option for China, that would be a geopolitical and economic suicide which will turn the whole world against China.

A small country like North Korea won't help China much economically, but strategically how much this country matters to China can never be understated, so the the status quo is the best scenario for China, and this current status quo was gained with tens of thousands of Chinese soldiers lives 70 years ago.

 

[Jagdflieger]

If Kim lost their ideological control, Korean nationalism will rise and Koreans are eager to see their nation's reunification just as much as we Chinese do about ours, South Korea can use nationalism card and easily absorb north Korea, there's not much China can do about it, invading and trying to occupy north Korea was never an option for China, that would be a geopolitical and economic suicide which will turn the whole world against China.

A small country like North Korea won't help China much economically, but strategically how much this country matters to China can never be understated, so the the status quo is the best scenario for China, and this current status quo was gained with tens of thousands of Chinese soldiers lives 70 years ago.

Hmm..., somehow you seem to have no confidence into Beijing's ability to "liberate" N-Korea - to keep it under control for 10 years and in parallel getting S-Korea onto their side via the outlook of a reunification - thanks to China. - strange if I may say so.

You say small country (26 million people) e.g. S-Korea has a population of roughly the double and a GDP with around US$1.7 trillion (around 10% of China) - so it would be realistic to assume that N-Korea with heavy investment from China (think about their super cheap labor costs for the next ten years) could achieve a GDP of up to US$ 100 billion in 10 years, compared to it's present US$ 28 billion. imagine their GDP in 20 years - easily US$300 billion.

Pakistan around 230 million people has a GDP of around US$ 310 billion.
Vietnam around 100 million people has a GDP of around US$ 290 billion and in 2010 it's GDP was "only" around US$ 110 billion

 

[xizhimen]

Hmm..., somehow you seem to have no confidence into Beijing's ability to "liberate" N-Korea - to keep it under control for 10 years and in parallel getting S-Korea onto their side via the outlook of a reunification - thanks to China. - strange if I may say so.

I don't support wars of aggression, I prefer winning by economic means, not military means.

 

[Jagdflieger]

I don't support wars of aggression, I prefer winning by economic means, not military means.

Ahhh..."liberating" 26 million half starved slaves = aggression? bullying your way into other countries EEZ = non-aggression?

Okay I give up