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Full Text: Chinese President Xi Jinping’s keynote speech at opening ceremony of BRICS Business Forum

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Chinese President Xi Jinping attended the opening ceremony of the BRICS Business Forum in virtual format and delivered a keynote speech titled “Keep Abreast of the Trend of the Times to Shape a Bright Future” on Wednesday.

Following is the full text of the speech:

Keep Abreast of the Trend of the

Times to Shape a Bright Future

Keynote Speech by H.E. Xi Jinping

President of the People’s Republic of China

At the Opening Ceremony of the BRICS Business Forum

22 June 2022

Dear Colleagues,

Members of the Business Community,

Ladies and Gentlemen,

Friends,

I am glad to attend the BRICS Business Forum, and I wish to extend a warm welcome to all of you.

Right now, our world is facing drastic changes and a pandemic both unseen in a century. Various security challenges keep emerging. The world economy still faces strong headwinds on its path toward recovery, and global development has suffered major setbacks. Where is the world headed: Peace or war? Progress or regression? Openness or isolation? Cooperation or confrontation? These are choices of the times that we are confronted with.

Human history, like a river, keeps surging forward, with moments of both calm waters and huge waves. Despite changes in an evolving global environment, the historical trend of openness and development will not reverse course, and our shared desire to meet challenges together through cooperation will remain as strong as ever. We should stand high and not allow ourselves to be distracted by fleeting clouds, and we should have a keen appreciation of the law governing the advance of history. We should refuse to be led astray by any turn of events or intimidated by any risk. We should rise to challenge and forge ahead with resolve toward the goal of building a community with a shared future for mankind.

First, we should embrace solidarity and coordination and jointly maintain world peace and stability. We in China believe that “history, if not forgotten, can serve as a guide for the future”. In the past century, humanity have gone through the scourge of two world wars and the dark shadow of the Cold War. The tragedies of the past tell us that hegemony, group politics and bloc confrontation bring no peace or security; they only lead to wars and conflicts. The Ukraine crisis is another wake-up call for all in the world. It reminds us that blind faith in the so-called “position of strength” and attempts to expand military alliances and seek one’s own security at the expense of others will only land oneself in a security dilemma.

History tells us that peace, which is the common cause of humanity, should be pursued and defended by all. Only when we all cherish and uphold peace and never forget the painful lessons of war can there be hope of peace. Facing a volatile and unstable world, we should stay true to the pledge of the UN Charter and fulfill the mission of maintaining peace. Not long ago, I put forward the Global Security Initiative, calling on all countries to stay committed to the vision of common, comprehensive, cooperative and sustainable security; stay committed to respecting the sovereignty and territorial integrity of all countries; stay committed to abiding by the purposes and principles of the UN Charter; stay committed to taking the legitimate security concerns of all countries seriously; stay committed to peacefully resolving differences and disputes between countries through dialogue and consultation; and stay committed to maintaining security in both traditional and non-traditional domains. We in the international community should reject zero-sum games and jointly oppose hegemonism and power politics. We should build a new type of international relations based on mutual respect, fairness, justice and win-win cooperation. We should be clear that we are a community in which all countries share a common stake, and we should see that the light of peace will reach all corners of the world.

Second, we should reach out to each other and jointly promote sustainable global development. Development holds the key to solving various difficult problems and delivering better lives to the people. Today, the global development process has hit major roadblocks, the momentum of international development cooperation is being weakened, and development gap between the North and the South keeps widening. As a result, the global efforts to implement the UN’s 2030 Agenda for Sustainable Development have suffered major setbacks. Almost 1.2 billion people in nearly 70 countries are confronted with COVID-19, food, energy and debt crises. What has been achieved in decades of global poverty reduction efforts could be lost.

Last year, I put forward the Global Development Initiative, and I called on all countries to implement the 2030 Agenda for Sustainable Development, forge united, equal, balanced and inclusive global development partnership, and promote cooperation in a wide range of areas such as poverty reduction, public health, education, digital connectivity and industrialization. We should deepen cooperation to better safeguard food and energy security. We should seize opportunities presented by the new scientific and technological revolution and industrial transformation, and promote the flow of factors of production that enable innovation globally. We should help developing countries speed up development of the digital economy and green transformation. We should also engage in cooperation on COVID-19 response and provide more anti-COVID medicines to developing countries so as to beat the virus at an early date.

In two days, China will host the High-level Dialogue on Global Development to discuss ways to promote global development. We should respond to people’s concerns, pursue the larger interests of all countries, and steer global development to a new era to deliver benefit to all.

Third, we should tide over difficulties together and jointly pursue win-win cooperation. At present, some important industrial and supply chains are suffering from deliberate disruptions, commodity prices remain high and are fluctuating, global inflation keeps rising, the international financial market is in turmoil, and global economic recovery is losing steam. People have reason to be concerned that the world economy might slip into a crisis.

At this critical juncture, tiding over difficulties together and pursuing cooperation is the only way for us to forestall an economic crisis. We should come together with a united purpose and strengthen macroeconomic policy coordination to prevent the slowdown and even halt of the global recovery. Major developed countries should adopt responsible economic policies and avoid negative policy spillovers that may take a heavy toll on developing countries. It has been proved time and again that sanctions are a boomerang and a double-edged sword. To politicize the global economy and turn it into one’s tool or weapon, and willfully impose sanctions by using one’s primary position in the international financial and monetary systems will only end up hurting one’s own interests as well as those of others, and inflict suffering on everyone.

Fourth, we should be inclusive and jointly expand openness and integration. The rapid economic globalization that we have seen since the end of the Cold War has greatly boosted the movement of goods and capital and advances in technology and civilization. A more open and inclusive world will create greater development opportunities for all and deliver a more prosperous future for all.

For some time, however, economic globalization has faced headwinds and countercurrents. Some countries attempt to decouple with others, sever supply chains and build “a small yard with high fences”. There is widespread concern in the international community that should such a tendency continue, the global economy will become compartmentalized and mutually exclusive. Economic globalization is a response to development of productivity and, as such, represents an unstoppable historical trend. Anyone who attempts to turn back the wheel of history and block others’ way will only have his own path blocked.

As an ancient Chinese saying goes, “Constant piling up of earth makes Mount Tai great; ceaseless inflow of rivers makes the ocean deep.” Inclusiveness, shared benefits and win-win outcomes is what we should pursue. We should stay committed to openness and inclusiveness, eliminate all barriers to the development of productivity, and steer globalization in the right direction. This will boost the free flow of capital and technology, unleash the full potential of innovation and creativity, and foster synergy in boosting global economic growth. We should uphold the WTO-centered multilateral trading system, remove barriers to trade, investment and technology, and keep the global economy open. We should promote extensive consultation and joint contribution to deliver shared benefits, enhance global economic governance, and increase the representation and say of emerging markets and developing countries. This will ensure that all countries enjoy equal rights, follow the rules as equals, and share equal opportunities.

Ladies and Gentlemen,

Friends,

This year, facing a complicated and challenging domestic and international environment for development, China has risen to various challenges and taken well-coordinated steps to respond to COVID-19 and pursue economic and social development. Putting the people and their lives first, China has built a strong line of defense against the virus, and consolidated the gains made in COVID-19 response. Thanks to these efforts, we have protected people’s lives and health and ensured overall stable performance in economic and social development to the maximum extent possible. We will step up macroeconomic policy adjustment, and adopt more forceful measures to deliver the economic and social development goals for the whole year and minimize the impact of COVID-19.

In the second half of this year, the Communist Party of China will convene its 20th National Congress, which will chart the course for the next phase of China’s development. We will ground our efforts in the new development stage, follow the new development philosophy, foster a new development paradigm and strive to achieve high-quality development. China will continue to pursue opening-up against higher standards, develop new systems for a higher-standard open economy, and continue to foster a market- and law-based and internationalized business environment. I warmly welcome you to invest and do business in China, strengthen business cooperation with China, and share in China’s development opportunities.

Ladies and Gentlemen,

Friends,

The BRICS mechanism is an important cooperation platform for emerging markets and developing countries. The business community is a dynamic force driving BRICS’ effective cooperation. Over the years, you in the business communities of BRICS countries have kept exploring new ground, unlocked the potential of cooperation among the five countries, and made important contribution to the development of BRICS countries. Your efforts deserve full recognition.

BRICS cooperation has now entered a new stage of high-quality development. I hope that you business leaders will continue to act with tenacity and in a pioneering spirit, and champion open, innovative and shared development so as to add new impetus to BRICS cooperation. You should tap into the complementarity of BRICS countries’ diverse economic structures and resources, upgrade cooperation on trade, investment and finance, expand cooperation on cross-border e-commerce, logistics, local currencies and credit rating, and keep industrial and supply chains safe and unclogged. I hope you will actively participate in building the BRICS Partnership on New Industrial Revolution, strengthen cooperation on digital economy, smart manufacturing, clean energy and low-carbon technology, and support the industrial restructuring and upgrading in BRICS countries. I hope you will advance cooperation on energy, food, infrastructure and skill training, fulfill your social responsibilities, and see that more benefits of development will reach everyone in a more equitable way.

I am convinced that as long as we hoist high the sail of mutual benefit and win-win and keep a steady hand on the tiller of solidarity and cooperation, we will break waves and steer the giant ship of BRICS countries toward a brighter future!

To conclude, I wish the BRICS Business Forum a full success!

Thank you.

 

Source: Xinhua News

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Macron warns Europe could die of three challenges

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PARIS, April 25 (Xinhua) — Europe could die of three challenges it faces in security, economy and culture, French President Emmanuel Macron said Thursday in a speech on Europe at Sorbonne University in Paris.

Europe is in a situation of encirclement, pushed by many powers at its borders and sometimes within it, while some “uninhibited, regional powers” are showing their capabilities, he warned in a local live broadcast.

Macron also said that the European economic model as conceived today is no longer sustainable facing competition with the United States and China.

“In our Europe, our values, our culture are threatened,” he added, because Europe is experiencing “the cultural battle, the battle of the imaginary, of narratives, of values, which is increasingly delicate.”

This speech came seven years after his first speech on Europe at the university.

Source(s): Xinhua

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Government to reform SOEs and Aasandha system

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Minister of Finance Dr. Mohamed Shafeeq has announced plans to initiate a specialised corporate reform programme in response to concerns about the mismanagement of state-owned enterprises (SOEs).

Dr. Shafeeq emphasised the need for responsible governance within SOEs, noting that many are struggling to balance their expenditures with revenues.

Additionally, Minister Shafeeq highlighted the importance of strengthening SOEs, as only a few are generating substantial revenue for the state or serving the public effectively. He underscored the necessity for significant changes in the subsidy system and emphasised the importance of prudent spending and reducing overall expenditure. As part of this initiative, he emphasised the reform of the Aasandha system to ensure sustainability.

Furthermore, Minister Shafeeq expressed determination to implement reforms promptly, contrasting previous governments’ reluctance with President Dr. Mohamed Muizzu’s proactive stance. He affirmed the President’s commitment to reforming companies and finance without delay.

Earlier this year, President Dr. Muizzu unveiled policies aimed at transforming SOEs into profitable entities independent of state funding. The government aims to enhance corporate management and establish clear criteria for subsidies and capital allocation.

Source(s): PsmNews

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India should realize that the Maldives is not ‘taking sides,’ it’s choosing independence

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According to reports, the People’s National Congress party led by Maldives President Mohamed Muizzu won a landslide victory in Sunday’s parliamentary elections, securing 71 out of 93 seats. However, the result has made India feel nervous about the Maldives tilting away from it. Chinese analysts point out that the result of the Maldivian parliamentary elections reflects the will of the people. They assert that the Maldivian people are not choosing to lean toward China but rather they are supporting the government’s independent foreign policy.

Undoubtedly, the Maldives parliamentary elections are an internal matter for the Maldives, and China fully respects the choice made by the Maldivian people. However, some forces have malicious intentions regarding these elections.

Some Western media outlets took the opportunity to sensationalize the elections, claiming that the elections were a result of the so-called China-India geopolitical rivalry.

Furthermore, although China has never viewed the Maldives parliamentary elections as a geopolitical competition between China and other countries, some in India are worried about the Muizzu administration’s so-called pro-China and anti-India stance, viewing the Maldives elections as a zero-sum game between China and India. Some Indian media outlet even claimed that the Maldives is “tilting toward China and away from regional powerhouse and traditional benefactor India.”

India’s self-proclaimed attitude as a “benefactor” fully shows that it views South Asia as its “backyard.” Adopting a mind-set of exclusion rather than cooperation, India has always been skeptical of South Asian countries developing comprehensive cooperation with other powers. Some Indians view China’s normal cooperation with the Maldives with a cold war mentality, which is unhealthy.

The Maldives’ choice to break free from India’s control and become a truly independent country has dealt a heavy blow to India’s South Asian hegemonic mind-set. In fact, Muizzu won the Maldives presidential elections last year partially because New Delhi’s long-term pressure and interference in the Maldives’ internal affairs had sparked strong anti-India sentiment among the Maldivian people.

Liu Zongyi, secretary-general of the Research Center for China-South Asia Cooperation at the Shanghai Institutes for International Studies, told the Global Times that the result of the Maldives parliamentary elections not only demonstrates that the Maldivian people are no longer willing to follow India’s orders and have chosen an independent foreign policy, but also that they have chosen to prioritize rapid economic and social development.

In recent years, China’s economic cooperation with the Maldives has brought significant development to the Maldives in various aspects. For example, the China-Maldives Friendship Bridge, a flagship project of China’s infrastructure boom in the Maldives, is a symbol of the deep friendship between the two countries and has helped the Maldivian people realize their century-old dream.

India claims that its “Neighborhood First policy” is its core foreign policy. However, India’s aggressive behavior has turned “neighborhood first” into “India first.” The more the Indian government seeks to consolidate its hegemony in South Asia, the more discontent neighboring South Asian countries will grow with India.

India has long maintained a condescending attitude toward other South Asian countries, which is why India is increasingly unpopular in the region, said Qian Feng, director of the research department at the National Strategy Institute at Tsinghua University. India has not realized that the emergence of “anti-India” sentiment in these countries is not because they are “pro-China,” but because they are eager for independence.

The leaders of China and India have reached an important consensus that China and India are partners rather than rivals and are not threats to each other but opportunities for each other’s development. However, India has said one thing and done another in the process of implementing this consensus, according to Qian. On many issues, India demands and pressures its South Asian neighbors to take sides between it and China. This not only violates the sovereignty of these countries, potentially causing instability in the entire region, but it also distorts the China-India relationship.

The independent choices of other South Asian countries are not a “betrayal” to India but a fact that needs to be fully respected. Cooperation with China is not exclusive and does not affect relations with India. As an important country in the South Asia, India needs to adopt a more open attitude toward cooperation between regional countries and China.

Source(s): globaltimes.cn

The author is a reporter with the Global Times. opinion@globaltimes.com.cn

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