China alleged to invest in EU Infrastructure Fund

Reuters recently announced that the Chinese government shall contribute ‘an multi-billion dollar investment’ towards European Union’s investment fund, the European Fund for Strategic Investment (EFSI). According to a draft communiqué presented to Reuters, the exact figure of the investment offer has not yet been confirmed. Furthermore, it has been suggested that China will make the pledge at a Brussels summit in late June 2015. The Chinese Premier Li Keqiang is also expected to participate at the high-level event. Both EU and China representatives have noted that China will predominately seek to back projects within the areas of telecommunication and technology. The EFSI was initiated by the European Commission in late 2014 to offer finance infrastructure programs in sectors such as energy, transport, education, and innovation . However, its introduction was met with criticism from the European press. In November 2014, The Telegraph commented that the investment fund, worth 315 billion euros, “ provide[s] almost no new money of its own and is relying on subprime forms of financial engineering [and] depends on leverage that increases the headline figure by 15 times, leaving EU taxpayers bearing the heaviest risk while private investors are shielded from losses.” As a result, the prospect of a financial injection from China will very likely come as a great relief to European Commission. The news coincides with […]

Dec 14, 2015

Climate Change: The Greatest Challenge for Our Generation

Global warming is an undeniable reality. Its adverse effects threaten both humanity and nature. Indeed, mounting evidence makes clear that climate change may very well be the greatest challenge that our  generation will have to face.  As a result, the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change (also known as the COP21)  is one of the most significant events of 2015, not only for the 195 nations who have sent their teams to negotiate at the Paris summit, but also for ordinary citizens. The agreements reached at the summit will have a long-term impact on the lives of people throughout the globe. As The Guardian notes “the decisions […] will affect everything from which power plants provide you energy to what food you eat and how likely your home is to flood or be hit by extreme weather in the future.” Over the next two weeks, countries will endeavor to work out a deal for beyond 2020 ( the year the Kyoto Protocol expires) in order to maintain global warming to a 2c increase. In particular, countries will need to agree on commitments to limit their greenhouse emissions as well as usage of polluting fossil fuels. Needless to say, the outcome of the convention will also be greatly influenced by the endeavors of […]

Dec 1, 2015