Connect with us

World

China’s Xi warns West against economic ‘decoupling’

Published

on

China’s Xi warns West against economic ‘decoupling’

The Chinese president praised his Belt and Road Initiative at its 10-year anniversary forum, saying it is the ‘right path forward’.

Chinese President Xi Jinping has warned Western states against “decoupling” from his country’s economy, insisting amid declining foreign investment that China’s development should be viewed as not a threat but an asset.

Xi’s caution came as he opened the Belt and Road Initiative (BRI) forum in Beijing on Wednesday. He also used his speech to laud the scheme, which was launched 10 years ago with the professed aim of building infrastructure and energy networks to link Asia, Africa and Europe.

“We stand against unilateral sanctions, economic coercion, decoupling, and supply chain disruption,” Xi said, hitting back at perceived Western efforts to hamper China’s growth.

“Viewing others’ development as a threat or taking economic interdependence as a risk will not make one’s own life better or speed up one’s development,” he added. “China can only do well when the world is doing well… When China does well, the world will get even better.”

Advertisement

Attracting investment

As part of China’s efforts to attract more foreign investment, one measure of which hit a 25-year low earlier this year, Xi also pledged to ease investment restrictions and facilitate better trade ties.

“We will comprehensively remove restrictions on foreign investment access in the manufacturing sector,” while opening up “cross-border trade and investment in services and expand market access for digital products,” Xi said.

He added that China plans reforms for state-owned companies, as well as the digital economy, intellectual property rights, and government procurement.

At the same time, China will continue to pour billions of dollars into the economies of developing countries as it builds on the BRI, the Chinese president pledged.

Who’s attending the forum?

Leaders and representatives of over 130 countries are attending the forum, which celebrates the 10-year anniversary of Xi’s ambitious scheme, which he has called the “project of the century.”

Advertisement

Prominent guests include Russian President Vladimir Putin, Indonesian President Joko Widodo, Serbian President Aleksandar Vucic, Egyptian Prime Minister Mostafa Madbouly, and Pakistani Prime Minister Anwaar-ul-Haq Kakar.

Xi met with Putin, whom he calls a “dear friend,” before the forum, and reaffirmed their strong partnership.

“The political mutual trust between the two countries is continuously deepening,” Xi said, according to the state news agency Xinhua, hailing their “close and effective strategic coordination”.

Western scepticism

European leaders largely stayed away from the event, with Hungary’s nationalist-populist Prime Minister Viktor Orban the sole European Union head of state in attendance.

Russian President Vladimir Putin shakes hands with Hungarian Prime Minister Viktor Orban during a meeting ahead of the Belt and Road Forum in Beijing, China, October 17, 2023 [Grigory Sysoyev/Pool via Reuters]

Western leaders have come to view China’s BRI with suspicion, seeing it as a tool to amplify Beijing’s global influence and reach. Many Western countries are seeking to diversify supply chains to reduce reliance on China, which is the world’s second-largest economy.

Advertisement

‘Right path forward’

Going forward, Xi said the Belt and Road Initiative would move towards addressing issues of artificial intelligence and climate change, including through intensified cooperation in “green infrastructure, energy, and transportation”.

The Chinese president added that the BRI has put it on the right side of history, according to China’s Xinhua state news agency. “It represents the advancing of our times, and it is the right path forward.”

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

World

Ukraine's divisive mobilization law comes into force as a new Russian push strains front-line troops

Published

on

Ukraine's divisive mobilization law comes into force as a new Russian push strains front-line troops

KYIV, Ukraine (AP) — A divisive mobilization law in Ukraine came into force on Saturday, as Kyiv struggles to boost troop numbers after Russia launched a new offensive that some fear could close in on Ukraine’s second-largest city.

The legislation, which was watered down from its original draft, will make it easier to identify every conscript in the country. It also provides incentives to soldiers, such as cash bonuses or money toward buying a house or car, that some analysts say Ukraine cannot afford.

Lawmakers dragged their feet for months and only passed the law in mid-April, a week after Ukraine lowered the age for men who can be drafted from 27 to 25. The measures reflect the growing strain that more than two years of war with Russia has had on Ukraine’s forces, who are trying to hold the front lines in fighting that has sapped the country’s ranks and stores of weapons and ammunition.

Ukrainian President Volodymyr Zelenskyy also signed two other laws Friday, allowing prisoners to join the army and increasing fines for draft dodgers fivefold. Russia enlisted its prisoners early on in the war, and personnel shortages compelled Ukraine to adopt the new measures.

Russian troops, meanwhile, are pushing ahead with a ground offensive that opened a new front in northeastern Ukraine’s Kharkiv region and put further pressure on Kyiv’s overstretched military. After weeks of probing, Moscow launched the new push knowing that Ukraine suffered personnel shortages, and that its forces have been spread thin in the northeast.

Advertisement

Russian President Vladimir Putin said on Friday during a visit to China that the Russian push aims to create “a buffer zone” rather than capturing Kharkiv, the local capital and Ukraine’s second-largest city.

Still, Moscow’s forces have pummeled Kharkiv with strikes in recent weeks, hitting civilian and energy infrastructure and prompting angry accusations from Zelenskyy that the Russian leadership sought to reduce the city to rubble. On Friday, Mayor Ihor Terekhov said that Russian guided bombs killed at least three residents and injured 28 others that day.

Moscow denies deliberately targeting civilians, but thousands have died or suffered injuries in the more than 27 months of fighting.

The U.S. last week announced a new $400 million package of military aid for Ukraine, and President Joe Biden has promised that he would rush badly needed weaponry to the country to help it stave off Russian advances. Still, only small batches of U.S. military aid have started to trickle into the front line, according to Ukrainian military commanders, who said it will take at least two months before supplies meet Kyiv’s needs to hold the line.

Thousands of Ukrainians have fled the country to avoid the draft since Russia’s all-out invasion in February 2022, some risking their lives as they tried to swim across a river separating Ukraine from neighboring Romania and Hungary.

Advertisement

Late on Friday, Ukraine’s border service said that at least 30 people have died trying to cross the Tisza River since the full scale-invasion.

Romanian border guards days earlier retrieved the near-naked, disfigured body of a man that appeared to have been floating in the Tisza for days, and is the 30th known casualty, the Ukrainian agency said in an online statement. It said the man has not yet been identified.

___

Follow AP’s coverage at https://apnews.com/hub/russia-ukraine

Advertisement
Continue Reading

World

An unusual autumn freeze grips parts of South America, giving Chile its coldest May in 74 years

Published

on

An unusual autumn freeze grips parts of South America, giving Chile its coldest May in 74 years

Chileans are bundling up for their coldest autumn in more than 70 years mere days after sunning in T-shirts — a dramatic change of wardrobe brought on this week by a sudden cold front gripping portions of South America unaccustomed to bitter wind chills this time of year.

CHILE SHUTS DOWN A POPULAR GLACIER, SPARKING DEBATE OVER CLIMATE CHANGE AND ADVENTURE SPORTS

Temperatures broke records along the coast of Chile and in Santiago, the capital, dipping near freezing and making this month the coldest May that the country has seen since 1950, the Chilean meteorological agency reported.

An unusual succession of polar air masses has moved over southern swaths of the continent, meteorological experts say, pushing the mercury below zero Celsius (32 Fahrenheit) in some places. It’s the latest example of extreme weather in the region — a heat wave now baking Mexico, for instance — which scientists link to climate change.

Footprints create the shape of a heart in a snow-covered rugby field in Santiago, Chile, Wednesday, May 8, 2024.  (AP Photo/Matias Basualdo)

Advertisement

“The past few days have been one of the longest (cold fronts) ever recorded and one of the earliest ever recorded” before the onset of winter in the Southern Hemisphere, said Raul Cordero, a climatologist at Santiago University. “Typically the incursions of cold air from the Antarctic that drive temperatures below zero occur from June onwards, not so much in May.”

The cold front sweeping in from Antartica has collided with warm air pushing in from the northwestern Amazon, helping fuel heavy rainstorms battering Brazil, according to that country’s National Meteorological system.

Chile’s government issued frosty weather alerts for most of the country and ramped up assistance for homeless people struggling to endure the frigid temperatures on the streets. Snow cloaked the peaks of the Andes and fell in parts of Santiago, leading to power outages in many areas this week.

“Winter came early,” said Mercedes Aguayo, a street vendor hawking gloves and hats in Santiago.

She said she was glad for a boost in business after Chile’s record winter heat wave last year, which experts pinned on climate change as well as the cyclical El Niño weather pattern.

Advertisement

“We had stored these goods (hats and gloves) for four years because winters were always more sporadic, one day hot, one day cold,” Aguayo said.

This week’s cold snap also took parts of Argentina and Paraguay by surprise.

Energy demand soared across many parts of Argentina. Distributors cut supplies to dozens of gas stations and industries in several provinces to avoid outages in households, , the country’s main hydrocarbon company, CECHA, said Thursday.

Advertisement
Continue Reading

World

Brussels, my love? Transparency over MEPs' side jobs

Published

on

Brussels, my love? Transparency over MEPs' side jobs

In this edition, we look at what lawmakers’ extracurricular activities mean for their core role.

ADVERTISEMENT

This week, we are joined by Sophia Russack, senior researcher from the Centre for European Policy Studies, Petros Fassoulas, secretary general of European Movement International and Anna Nalyvayko, senior project officer from the Wilfried Martens Center.

Panelists debate the ethical questions raised by MEPs who have side jobs. Those extra roles are legal, but the political earthquake caused by the Qatarargate scandal led to tighter rules and more transparency.

Is this enough to bridge the gulf between citizens and politicians, in today’s fractured political landscape?

“We see that they have improved rules when it comes to reporting requirements, to laying open your financial situation before and after the offers, and so on. But to be honest, none of these things will prevent another Qatargate,” said Sophia Russack, a think tanker who is an expert in EU institutional architecture, decision-making processes and institutional reform.

Despite these concerns, Petros Fassoulas said MEPs shouldn’t abandon contact with the real world altogether.

Advertisement

“It’s important for them to have the opportunity to bring expertise from outside and engage also with the world outside of the chamber,” Fassoulas said. “An MEP or any parliamentarian should be in contact with the people that they regulate, the businesses that they have an impact on.”

Guests also discussed the reasons for the crisis of public confidence in politicians, and gave some ideas for solutions.

Watch “Brussels, my love?” in the player above.

Continue Reading
Advertisement

Trending