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Places in Arunachal Pradesh renamed by China have links to Spiritual Leader Dalai Lama and Tibet, says Expert

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Dalai Lama
The 14th Dalai Lama, Wikimedia

New Delhi, April 25, 2017: Recently, China has renamed most of the six places in Arunachal Pradesh, but surprisingly, all these places have some significance related to the Dalai Lama or Tibet, a China expert said on Sunday.

This is only an attempt to show China’s severe displeasure to India for allowing the Dalai Lama to visit the Tawang monastery in Arunachal Pradesh and address religious congregations there, said Srikanth Kondapalli, a professor of Chinese studies at the Jawaharlal Nehru University, mentioned PTI report.

Earlier this week, China given has a new name- Wo’gyainling to Guling Gompa, which is located on the outskirts of Tawang. This is the place where the sixth Dalai Lama was born.

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In Upper Subansiri district, Daporijo town was named Mila Ri. The town is located beside the river Subansiri, which is one of the principal rivers of Arunachal Pradesh as well as a major tributary of the Brahmaputra river.

Prof. Kondapalli said this place has been used by people from Tibet to enter into India and was a corridor that has not seen a military presence from either side for many years.

Challenging India’s claim

Renaming of Mechuka as Mainquka was to question India’s claim on the area as it is strategically located with heavy military presence, said Prof Kondapalli. The Indian Air Force maintains an Advanced Landing Ground there, which is located in West Siang district.

Bumla, the place where the Dalai Lama made his first stopover during his April 4-13 visit to Arunachal Pradesh, has also been renamed by the Chinese as Bumola.

According to the PTI report, Prof. Kondapalli said this area was invaded in 1962 by the Chinese troops who were subsequently pushed back by the Indian Army.

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Namaka Chu area has been renamed as Namkapub Ri, also the area has a huge possibility for hydro-electricity, he added. China is renamed the sixth place as Qoidengarbo Ri area but it is not clear which place in Arunachal Pradesh it refers to.

Besides hydro-electricity, these areas also have a huge potential for agriculture and fisheries. In the 1980s, all these places gained prominence, when numerous Chinese strategic scholars started mentioning about them in their writings, saying these places could solve problems related to electricity as well as vegetation in Tibet, he added.

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These lush areas are capable of producing vast quantities of food. The Chinese scholars mentioned these areas as the “apple of the eye” of the Tibet region, but these are generally dry, said Prof. Kondapalli.

He said this was part of a trend started by China of giving names to their claims — specifically the islands in the South China Sea where it has conflicting claims with South-East Asian countries, mentioned PTI.

Prof. Kondapalli proposed that India can hit back at China by renaming Aksai Chin and Mansarovar areas, which are under Chinese occupation but claimed by India.

– prepared by Ananya Banerjee of NewsGram, Twitter: @bannerjee_ananya

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Chinese Police Catches Hold of $1.5 Billion Money in Online Lending Scandal

The internet has helped financial platforms attract money from financial novices with little knowledge of the risks involved.

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China
Chinese policemen watch as depositors from Ezubao gather outside the State Bureau for Letters and Calls Reception Division office in Beijing, Jan. 1, 2016. China's policy ministry says it investigated 380 online lenders following an avalanche of scandals. VOA

Chinese police have investigated 380 online lenders and frozen $1.5 billion in assets following an avalanche of scandals in the huge but lightly regulated industry, the government announced Monday.

Beijing allowed a private finance industry to flourish in order to supply credit to entrepreneurs and households that aren’t served by the state-run banking system. But that threatens to become a liability for the ruling Communist Party after bankruptcies and fraud cases prompted protests and complaints of official indifference to small investors.

The police ministry said it launched the investigation because person-to-person, or P2P, lending was increasingly risky and rife with complaints about fraud, mismanagement and waste.

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The police ministry said it launched the investigation because person-to-person, or P2P, lending was increasingly risky and rife with complaints about fraud, mismanagement and waste. Pixabay

The ministry gave no details of arrests but said more than 100 executives were being sought by investigators and some had fled abroad. It said authorities seized or froze 10 billion yuan ($1.5 billion) but gave no indication how much might be returned to depositors.

Police say some lenders and investment vehicles were brazenly fraudulent, while others collapsed after inexperienced founders failed to manage risk.

Monday’s statement said P2P lenders were investigated for complaints including wasting money, reporting phony investment plans and using illegal tactics to raise money.

Lending through online platforms grew by triple digits annually until 2017 when regulators tightened controls.

Depositors lent 1.9 trillion yuan ($280 billion) last year, but that was down by 50 percent from 2017, according to the Shenzhen Qiancheng Internet Finance Research Institute.

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The internet has helped financial platforms attract money from financial novices with little knowledge of the risks involved. Pixabay

The outstanding loan balance stood at 1.2 trillion yuan ($177 billion) at the end of 2018, down 25 percent from a year earlier, according to Diyi Wangdai, a web site that reports on the industry.

P2P lenders are part of a privately run Chinese finance industry the national bank regulator estimated in 2015 had grown to $1.5 trillion.

The internet has helped financial platforms attract money from financial novices with little knowledge of the risks involved.

Many lend to factories and retailers or invest in restaurants, car washes and other businesses. But inexperience and poor risk control means a downturn in business conditions can bankrupt them.

Also Read: Sales of Smart Feature Phones Expected To Be About $28 Billion Over Next Three Years

Finance as a whole has come under tougher scrutiny after a 2015 plunge in stock prices led to accusations of insider trading and other offenses.

In one of China’s biggest financial scams, authorities say depositors lost 50 billion yuan ($7.7 billion) in online lender Ezubo before it was seized by regulators in 2015.

The founder and his brother were sentenced to life in prison in 2017. (VOA)