The MOU between the government of Malta and China’s communist dictatorship: here it is
Published:
July 13, 2014 at 11:06pm
All the gravitas of an agreement between two amateur football clubs – don’t knock yourself out, because the rental contract on your flat is probably longer, more detailed and drafted professionally.
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Not impressive but yet very concerning. When things are so vague it gives them liberty to act how they want in each of those sectors.
So China gets what it wants, a foothold in the EU which it will exploit, and while Malta gets milked for all its worth, Muscat will wave this nonsense piece of paper around saying “But look how we benefit”. Lovely.
Is that…Calibri? The default Microsoft Word font? *Cringe*
Oh dear, they couldn’t even be bothered to change that.
Daphne
If it is not too inconvenient, can you please add Pinterest sharing links, in addition to Facebook and Twitter?
In Confucian terms, a paper tiger. So many words, so little meaning.
But so many lucrative contracts and government positions. I see the dreaded acronym MCST there. The fount of all evil.
Here is a balanced point of view on the issue. There’s nothing wrong with doing business with China as long as we don’t lose sight of what China is all about.
“In the 21st century blind faith in the government is simply not an option, unless, of course, you live in China and, then, you’re living in a country where you have no right to question your government.”
http://www.timesofmalta.com/articles/view/20140711/opinion/China-fication-of-Malta.527203
If it’s such a deep and serious relationship, why only a Memorandum of Understanding, rather than a binding and enforceable agreement?
I think you will find that the Chinese view an MoU as a binding contract. To them, it is the contract.
‘Promote’ and ‘encourage’ seem to be the two mostly used words in this MoU.
It contains nothing concrete and of value.
The contract of purchase of my garage is indeed longer and much more detailed.
Many economists predict bad times for China’s economy with some believing that it may tank soon.
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100027199/chinese-anatomy-of-a-property-boom-on-its-last-legs/
http://www.telegraph.co.uk/finance/economics/10838674/Ken-Rogoff-warns-China-is-next-bubble-to-burst.html
http://www.telegraph.co.uk/finance/china-business/10123507/Fitch-says-China-credit-bubble-unprecedented-in-modern-world-history.html
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10611931/The-15-trillion-shadow-over-Chinese-banks.html
You should see Morgan Sachs scrambling for cover, out in a week.
Reinforcement of proper information gathering uncovered the real, very bleak picture.
What’s perverse is how China’s blatantly telling international markets that as long as it’s a dictatorial regime, it can do as it please with its population, corporate debt, banks etc.
Keep calm and we’ll take care of the opposition. Which is why Merkel and Obama have said no. Their voters prefer paying some more for products and have the job.
That’s Goldman Sachs.
From the first article
‘…China’s anti-corruption campaign is spreading terror through the Party cadres. They are frantically trying to offload properties in the top-end range of 40,000 – 50,000 yuan per square metre in case their ill-gotten wealth is exposed by spot audits.
The numbers of flats and houses for sale has suddenly doubled. “Many owners are trying to get rid of high-priced houses as soon as possible, even at the cost of deep discounts. As a result, ordinary people who want to sell homes in the secondary market must face deep price cuts,” he said…’
And Muscat will sell them passports hoping they’ll buy more flats over here. Perfect, let the ordinary Chinese suffer, as long as we get the cash.
What was left out, obviously, is the cut the PL will be getting from all this. No wonder they are still in election campaign mode.
Jeffrey Pullicino Orlando and Lara Boffa will soon be going to China. See section 5.5.
Section 5.4 Financial Services. It’s a lot of empty words. Nothing new, they just built on the MoU with the MFSA of 2010.
If there was ever a pie in the sky, this MOU must surely be it.
Even my wife’s late uncle’s pre-nup (Florida) was more specific.
“translate and publish each others classics”. God spare us, Guze Aquilina in Chinese.
[Daphne – Guze Aquilina? More like Frans Sammut and Alfred Sant.]