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Nepal tightens screw on Tibetans

Kathmandu: In what appears to be another bid to please China, the Nepal Police on June 21 arrested a dozen Tibetans who had gathered to take part in the birthday celebrations of His Holiness the 17th Gyalwa Karmapa.

Nepali police in full riot gear closely watching Tibetans offering
prayers at the Boudhanath Stupa in Kathmandu which has for centuries
been a holy place for Tibetans. (Photo/Kevin Bubriski)
Nepali police in full riot gear closely watching Tibetans offering prayers at the Boudhanath Stupa in Kathmandu which has for centuries been a holy place for Tibetans. (Photo/Kevin Bubriski)

The incident occurred in Boudha, a Buddhist area of the capital on Wednesday where around 70 Tibetans had gathered to offer prayers. Witnesses say police randomly picked the dozen Tibetans-all men when they were coming out of the monastery. The 12 arrested are still held at the local police station in Boudha on charges of carrying out anti-China activities.

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Ratings agency says China debt was understated

China’s local government debt may be 3.5 trillion yuan (US$540 billion) larger than auditors estimated, potentially putting banks on the hook for deeper losses that could threaten their credit ratings, Moody’s said yesterday.

Moody’s reviewed a report released by China’s state auditor last week, which found that local governments had chalked up 10.7 trillion yuan of debt. Moody’s said it identified more loans funded by banks after accounting for discrepancies in figures given by various Chinese authorities.

Investors worry the pile of loans, about half of which were racked up during a 2008 stimulus spending binge, could destabilize the Chinese economy in the long run. If banks have to absorb heavy losses, it could restrict lending.

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Newsflash

Taipei and Beijing are set to hold the second round of negotiations on an economic cooperation framework agreement (ECFA) in Taipei tomorrow and on Thursday, the Straits Exchange Foundation (SEF) said yesterday.

The foundation said in a statement that the Chinese delegation would arrive today. However, there appeared to be some confusion over the location of the meeting.