China Current Affairs

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China hiked military budget by 12.2% for 2014

The People’s Republic of China announced to raise its military budget for 2014 by 12.2% to $132 billion. The hike in defense spending would seek to develop more high-tech weapons and to beef up coastal and air defenses.

  • It would also allow Beijing to create a modern force that will project power not only across the disputed waters of the East and SouthChinaSeas but also into the western Pacific and IndianOceans.
  • Goal: To become a dominant military presence in the Pacific, with a navy able to project power across the region.
  • This hike in defense spending would create tension among China’s neighbors viz. India, Japan, South Korea, Taiwan, Vietnam, etc.
  • The budget spike comes as Asia reacts nervously to a string of recent moves by China to assert its sovereignty in disputed territory, expand its military reach and challenge the traditional dominance of U.S. forces in the Asia Pacific region.
  • From India’s point of view, China’s defense spending is far higher than $36 billion allocated in last month’s interim budget that amounted to 10% hike.

Note: China’s military spending is the second largest in the world, behind that of the United States.


Forbes’s 2014 billionaires list: Bill Gates reclaims title as world’s richest person

Screenshot_5Microsoft Co-founder, Mr. Bill Gates regained the title of the world’s richest person in the Forbes 2014 billionaire list. Mr. Gates has topped the list for 15 of the last 20 years, with a net worth of $76 billion and Mexico’s telecommunications mogul Mr. Carlos Slim Helu is at second place.

As per the Forbes’ 28th annual ranking of the world’s billionaires 2014

The US leads the list of billionaires in the world with 492 billionaires, followed by China (152) and Russia (111). The list has new billionaires from Algeria, Lithuania, Tanzania and Uganda.
Total number of billionaires in the world: 1,645 with combined net worth of $6.4 trillion.
Top 5 billionaires: Mr. Bill Gates, Mr. Carlos Slim Helu, Mr. Amancio Ortega, Mr. Warren Buffett, and Mr. Larry Ellison (Oracle Corp chief).

  • Highest ranked women on the list: Christy Walton (9), with a net worth of $36.7 billion and Liliane Bettencourt (11) has worth $34.5 billion.
  • World’s youngest billionaire: Ms. Perenna Kei from Hong Kong.
  • WhatsApp founders Jan Koum and Brian Acton join the ranks of Silicon Valley’s wealthiest for the first time.
  • From Internet field: Facebook Inc founder Mark Zuckerberg (21), Inc’s Jeff Bezos (18) and Google Inc founders Larry Page and Sergey Brin ranked 17th and 19th.
  • Business Tycoon, Mr. Mukesh Amabani: India’s richest person for the 7th year in a row. Mr. Ambani is ranked 40th globally with net worth of $18.6 billion.
  • India has 56 billionaires in all with a collective net worth of $191.5 billion. 

Note: The Forbes list of billionaires is an annual ranking of the world’s wealthiest people, compiled and published by the American business magazine Forbes. The list only represents each person’s valuation on a single day, due to daily fluctuations among exchange rates and stock valuations.


Zero AIDS Discrimination Day launched on March 1

For the first time, the Joint United Nations Programme on HIV/AIDS (UNAIDS) launched its Zero Discrimination Day on March 1 in Beijing, China, to support those who are infected by HIV/AIDS.

About Zero Discrimination Day 2014

Motto: To call the people everywhere to promote equal rights for AIDS victims and celebrate everyone’s right to live a full life with dignity no matter what they look like, where they come from or whom they love.

  • Transformative Symbol: Butterfly.
  • Vision: Zero new HIV infections, zero discrimination and zero AIDS-related deaths.
  • An initiative of UNAIDS advocate and Nobel laureate Ms. Daw Aung Suu Kyi.
  • Offers an unprecedented opportunity for raising awareness; for speaking up to support people who have been discriminated against; for promoting diversity; and for becoming champions of tolerance, compassion and peace.
  • Discrimination against HIV/AIDS victims is a serious barrier preventing the provision of equal services.

Note: Discrimination is not only a violation of human rights, it is illegal, immoral, hurtful and dehumanizing. Discrimination can happen anywhere: at work, at school, at home, at the health facility and in the community. Discrimination doesn’t just hurt individuals or groups of people, it hurts everyone.