Showing posts with label Hangzhou (China). Show all posts
Showing posts with label Hangzhou (China). Show all posts

Obama cancels meeting with Philippines President Duterte after insult


Obama learned about the insult as he emerged from the Group of 20 summit in Hangzhou+ , China. At a news conference, he said he had told his aides to speak with Philippine officials "to find out is this, in fact, a time where we can have some constructive, productive conversations," leaving little doubt that the meeting would proceed as planned.

"I always want to make sure that if I'm having a meeting, that it's actually productive and we're getting something done," Obama told reporters.

Instead, Obama now plans to meet later on Tuesday with South Korean President Park Geun-hye, said Ned Price, spokesman for the White House National Security Council — a meeting where the response to North Korea's latest missile tests is expected to be on the agenda.

Obama arrived in Vientiane just before midnight on Monday, for the first visit by a sitting US president to Laos, where he wants to begin to address the legacy of US bombing during the Vietnam War.

He was set to give an address on the importance he has placed on Southeast Asia in his foreign and economic policy during his two terms in office, which will end on January 20, setting the stage for three days of meetings with regional leaders.

The White House had said Obama did not plan to pull any punches on his concerns about human rights abuses in the Philippines, its treaty ally, when meeting Duterte.

Duterte won the presidency in May as he promised to suppress crime and wipe out drugs and drug dealers, and a wave of extrajudicial killings has followed.

Duterte said it would be "rude" for Obama to raise the human rights issue, and told reporters such a conversation would prompt him to curse at Obama, using a Filipino phrase for "son of a b@#$%."

"Plenty will be killed until the last pusher is out of the streets. Until the (last) drug manufacturer is killed we will continue," he said.

It's not the first time Duterte has cursed at a world leader. He called Pope Francis a "son of a w@#$%" in May, and called US ambassador Philip Goldberg a "gay son of a w@#$%."

On Monday, Obama said he recognized the importance of fighting the drug trade, but insisted it must be done under the rule of law.

ASEAN Summit

The unusually open tensions threaten to overshadow the Association of Southeast Asian Nations (ASEAN) and East Asia Summits in Laos from Tuesday to Thursday.

The 10-member ASEAN will meet leaders of other regional powers: China, Japan, South Korea, Australia, India, Russia and the United States.

The Philippines has been a key US ally in its dispute with China over the South China Sea, in which Washington blames Beijing for militarising a vital global trade route and jeopardising freedom of movement at sea and in the air.


China rejects those accusations, and in turn blames the United States for ratcheting up tensions unnecessarily. China claims most of the South China Sea, through which more than $5 trillion of trade moves annually. Brunei, Malaysia, the Philippines, Taiwan and Vietnam have rival claims.
Top Comment
Seems Philippines President Duterte is nut to comment on Obama when his country is at loggerheads with China. Now, he will be scrrrwed right royally by the Chinks in SCS.Gyaneshwar Shastri


An arbitration court in The Hague in July invalidated China's vast territorial claims to the waterway after a case was brought by the Philippines, a ruling that Beijing refuses to recognise.


Duterte said last month he expected all ASEAN members to support the arbitration court's ruling, but that the Philippines would not raise the issue in Laos.


Source:-TOI
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Modi raises black money, tax evasion at G20 (Economy Roundup)

Indian Prime Minister NarendraModion Monday raised the issues of black money and tax evasion at the G20 Summit here, urging member countries to act against financial corruption.

On the second day of the Summit here, Modi said: "Fighting corruption, black money and tax evasion were central to effective financial governance."

Modi urged the grouping to show full commitment to action against financial corruption and said effective financial governance required action against the corrupt and elimination of safe havens for economic offenders.

"We need to act to eliminate safe havens for economic offenders, track down and unconditionally extradite money launderers and break down the web of complex international regulations and excessive banking secrecy that hide the corrupt and their deeds," Modi said in his address at the G20.

Representing 85 per cent of the world's GDP, the G20 is composed of Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK, the US and the European Union.

Making his intervention in the discussion on 'More Effective and Efficient Global Economic and Financial Governance at the G-20 summit', Modi called for further strengthening the global financial safety net.

"We need a regular dialogue between the IMF, Regional Financial Arrangements and Bilateral Swap Arrangements. Important mechanisms like financial stability board should stick to their core mandate."

On tax evasion, Modi reiterated India's support for Base Erosion and Profit Shifting (BEPS) recommendations and calls on countries to commit to the timeline of 2017-18.

"PM professes India's support for BEPS recommendations and calls on countries to commit to the timeline of 2017-18," External Affairs Ministry spokesperson Vikas Swarup tweeted citing the Prime Minister.

India had earlier declared its commitment to implementing BEPS, which advocates avoidance of stateless income and plugging loopholes by which entities avoid tax in operating across borders.

The Paris-based think-tank of developed nations, the Organisation for Economic Cooperation and Development's (OECD) Base Erosion and Profit Sharing deliverables advocate consistent tax rules throughout the world.

In this connection, a Central Board of Direct Taxes (CBDT) committee on taxation of e-commerce had earlier this year suggested an "Equalization Levy" of between 6-8 percent for business-to-business digital transactions.

This recommendation had formed the basis of Finance Minister Arun Jaitley's Budget 2016-17 proposal for an equalization levy of 6 percent in order to tax income accruing to foreign e-commerce companies from India.

The committee has suggested that the levy be imposed on the amount paid to a non-resident by an Indian resident for specified digital services.

The specified services would include online advertising or any services, rights or use of software for online advertising, including advertising on radio and TV, designing, hosting or maintenance of websites, digital space for website, e-mails, blogs, facility for online sale of goods or services or collecting online payments.

It would also include use or right to use or download online music, online movies, online games and online software applications accessed or downloaded through the Internet or telecommunication networks.


Source:-business-standard
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