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BRI praised for promoting world peace, stability at Eurasian Economic Summit
26 Feb 2024
ISTANBUL, Feb. 22 (Xinhua) -- The Belt and Road Initiative (BRI) proposed by China in 2013 was hailed for promoting world peace and stability by strengthening win-win cooperation at the Eurasian Economic Summit on Thursday.
A special session entitled "Longing for Peace: Belt and Road Is 11 Years Old" was held on the second day of the summit, summarizing the accomplishments and contributions of the BRI.
Speaking at the session, Liu Gang, president of Xinhua Institute, a Chinese think tank, said since the launch of the BRI, documents have been signed for more than 3,000 projects under the initiative, generating investment amounting to 1 trillion U.S. dollars.
"This is an important example of how China puts the building of a community with a shared future for mankind into practice," Liu said, adding that the BRI "has constructed a new framework for international cooperation, seeking the widest possible converging interests for the shared development of humanity."
Vladimir Norov, former foreign minister of Uzbekistan and former secretary general of the Shanghai Cooperation Organization (SCO), said the BRI has been giving impetus to the development of the world economy by creating a global network of interconnection.
Norov said the transcontinental transport line connecting China and Europe played an important role in stabilizing the global supply chain, especially during the COVID-19 pandemic.
"Transport interconnection on the basis of the modern world economy allows the exchange of goods, capital and services between countries and further strengthens international economic cooperation," he added.
For Nedzad Lokmic, minister for issues of combatants and disabled veterans of the Defensive-Liberation War of Bosnia and Herzegovina, the BRI is "extremely" important for all humanity as it promotes unity.
"Living in peace is not only a challenge but also a moral and political responsibility which we share to create a better future for all of us," Lokmic noted.
Organized by the Istanbul-based Marmara Group Strategic and Social Research Foundation, the 27th Eurasian Economic Summit kicked off on Wednesday with a focus on solutions to the challenges impacting global growth.
Source: Xinhua
Hungarian experts expect deepening friendship with China via BRI
26 Feb 2024
BUDAPEST, Feb. 24 (Xinhua) -- Experts from both Hungary and China discussed China's decisive role in global connectivity through the Belt and Road Initiative (BRI) and expected deepening China-Hungary friendship through BRI during a seminar held here on Friday.
The seminar on Promoting High-quality Belt and Road Cooperation was organized by the Xinhua Institute, a media-based think tank from China.
"The cooperation between our countries is built on solid economic reasoning," said Csaba Moldicz, head of the School of International Relations at the Mathias Corvinus Collegium.
He praised Chinese firms like BYD and battery giant Contemporary Amperex Technology Co., Ltd. (CATL) for their role in modernizing Hungary's automotive sector, a critical component of its economy.
"Investments from companies like BYD and CATL are exemplary of high-quality cooperation, fitting both the strategies of Chinese firms and Hungary's development strategies as well," he added.
CATL has started to build a new factory in the eastern Hungarian city of Debrecen, while BYD plans to build a new factory in the southern Hungarian city of Szeged. Both investments are worth billions of euros.
Many experts attending the seminar advocated for deeper bilateral friendship through joint efforts, especially within the BRI framework.
"The similarities in political philosophy between Hungary and China have led to stronger bilateral relations, with both nations striving for higher quality cooperation based on mutual understanding and respect," said Levente Horvath, director of the Eurasia Center of John von Neumann University.
Gergely Salat, a researcher at the Hungarian Institute for International Affairs, highlighted Hungary's keen participation in the BRI. The Hungarian government has listed connectivity high on its official strategy, while China was the first big country that put connectivity at the center of its foreign policy, Salat said.
Ferenc Banhidi, a professor at Pazmany Peter Catholic University, spoke highly of the Chinese digital giants like Huawei and ZTE for their successful integration into Hungary's economy. He also applauded the innovative business models of Chinese e-commerce leaders such as Temu, predicting significant benefits for Hungary's various sectors.
Zoltan Kiszelly, director of the Center of Political Analyses at the Szazadveg Institute, said that the BRI represents a collective approach to addressing global challenges, transcending traditional geopolitical rivalries.
It's a call for enhanced cooperation in an increasingly multipolar world, prioritizing shared success over individual gains, he said.
Speaking about today's global challenges and difficult international situation, Kiszelly said they were not "unavoidable." "Instead, there is another road, well known to most Europeans, it is the road of cooperation or connectivity," he said.
Source: Xinhua
Fulcrum of support
22 Feb 2024
China is playing a pivotal role in strengthening South-South cooperation
China's role and contribution to the expansion and strengthening of South-South cooperation have become increasingly prominent and multifaceted. China's strategic engagement in South-South cooperation marks a significant shift in the landscape of global development highlighting its role as a key player in fostering economic growth, sustainability and mutual benefit among developing countries.
China's engagement with the rest of the Global South, particularly through the Belt and Road Initiative, the Global Development Initiative and partnership with the Group of 77, underscores its commitment to working with other members of the Global South. This commitment is evidenced by its emphasis on aid, investment, trade and technology transfer aimed at fostering mutual development. China's approach to South-South cooperation is grounded in principles of mutual respect, equity and shared growth, with a focus on addressing the challenges of poverty, climate change and sustainable development.
China's collaborations in Asia, for example, demonstrate its significant influence and the strategic depth of its engagements with the Global South. Through investments and trade, China has become a vital partner for many Asian countries, helping to drive economic growth and infrastructure development in the region. However, this has also led to concerns regarding debt sustainability, environmental and labor standards, and the implications of economic dependency on China.
In its partnerships with G77 nations, China has advocated a tripartite proposition emphasizing independence, equity, justice, inclusiveness and win-win cooperation. This aligns with its broader strategy to leverage innovation, digital technology and green development to foster sustainable growth among developing countries. The commitment to technological inclusivity and the promotion of digital equality are central to ensuring that all countries benefit from the digital revolution.
The proposal to build a Digital Silk Road highlights China's dedication to advancing digital connectivity and fostering technological exchanges within the developing world. While this initiative promises to bridge digital divides, it also raises questions about digital sovereignty and potential technological dependency, necessitating a nuanced analysis of its impact on global digital inclusivity. For instance, in Africa, China's telecommunication company Huawei has partnered with local governments and companies to deploy 4G networks across the continent, significantly enhancing internet access and digital services. The East Africa Submarine Cable System (EASSy), a 10,000 kilometer submarine cable system deployed along the east and south coast of Africa, has been facilitated by Chinese technology and investment. This initiative offers countries high-speed internet connectivity, fostering digital inclusivity.
Through initiatives such as the China-FAO South-South Cooperation Programme, China has been instrumental in sharing agricultural expertise, enhancing food security, and improving agricultural productivity in partner countries. For example, China has dispatched over 1,000 experts and technicians to more than 25 countries, significantly improving agricultural productivity and food security. The triennial cooperation program between China and the Food and Agriculture Organization of the United Nations has a fund of $80 million, aimed at enhancing agricultural performance in developing countries. This illustrates China's commitment to sharing agricultural expertise and addressing global food security challenges.
China's engagement with the Global South also extends to environmental sustainability and climate action, with projects under the BRI emphasizing green development practices. China's green development projects under the initiative, such as the Solar Power Project in Malaysia, which is part of China's investment in renewable energy projects abroad, is worth noting. The project, with a capacity of 500 megawatts, contributes significantly to Malaysia's renewable energy targets. This example can help assess China's efforts toward its integrating environmental considerations into its cooperation with countries of the Global South.
Moreover, China's initiatives for cooperation with countries of the Global South extend beyond political and economic cooperation to include addressing global challenges such as the COVID-19 pandemic and climate change. The COVID-19 pandemic showcased China's role in health diplomacy, particularly through its provision of vaccines and medical supplies to developing countries. China provided over 2 billion doses of COVID-19 vaccines in total to more than 100 countries and international organizations, including a significant donation to the COVAX facility, showcasing its role in health diplomacy.
China's commitment to fostering cultural and educational ties with countries of the Global South is evident through scholarship programs and the establishment of the Confucius Institutes and exchanges that contribute to mutual understanding and strengthen people-to-people connections. The establishment of the South-South Global Thinkers, a global coalition of think tank networks for South-South Cooperation, co-hosted by the UN Office for South-South Cooperation and the United Nations Development Programme, exemplifies China's role in facilitating knowledge exchanges and good practice sharing to tackle poverty and achieve sustainable development goals.
China's cooperation with countries of the Global South is closely linked to the achievement of the Sustainable Development Goals. The United Nations Development Programme notes the critical role of South-South cooperation in advancing global progress on the SDGs and has spoken highly of China's contribution through knowledge sharing, technical assistance, and support for climate adaptation and mitigation efforts.
However, the impact of China's efforts varies, and some critics point to challenges related to debt sustainability and the need for more transparent and equitable partnerships.
In light of such challenges and criticisms, it is crucial to adopt a set of policy recommendations aimed at enhancing the effectiveness, sustainability and equity of China's cooperation with countries of the Global South.
First, improving transparency and accountability mechanisms is essential to fostering trust and ensuring that the cooperation is conducted in an open and responsible manner. This includes the publication of project details, financial terms and impact assessments to allow for public scrutiny and stakeholder engagement.
Developing and adhering to sustainable debt practices is paramount to preventing financial overburdening of partner countries. This involves establishing clear guidelines for responsible borrowing and lending, ensuring that financial arrangements are aligned with the economic capacities and development goals of recipient countries.
Second, environmental safeguards must be strengthened to protect biodiversity and natural resources, incorporating rigorous impact assessments and sustainable development principles into project planning and implementation phases.
Third, promoting inclusive growth through South-South cooperation requires a concerted effort to ensure that development benefits are widely distributed, reaching marginalized and vulnerable populations. This entails a focus on capacity building, access to education and healthcare, alongside economic development projects to foster broader social and economic inclusion.
Last, enhancing cooperation on global health, particularly in the wake of the COVID-19 pandemic, demonstrates the importance of collaborative international efforts to address health crises. Strengthening health systems, sharing knowledge and resources, and ensuring equitable access to medical supplies and vaccines are critical components of a resilient global health architecture.
By addressing these challenges and implementing these policy recommendations, China's South-South cooperation initiatives can evolve toward more sustainable, equitable and mutually beneficial partnerships, contributing to the overarching goals of global development and cooperation.
In conclusion, China's role in South-South cooperation is multifaceted, offering opportunities for shared growth. While China's contributions have significantly boosted developing countries' development trajectories, there are challenges that need addressing. A balanced approach that considers the sustainability of debt, environmental protections, local empowerment and genuine mutual benefits is essential. As South-South cooperation continues to evolve, the global community must focus on ensuring that cooperation frameworks remain inclusive, equitable and aligned with the broader goals of sustainable development and global solidarity emphasizing the potential of China and its partners to advance global development objectives and contribute to a more interconnected and equitable world.
Source: China Daily
Hungarian experts expect deepening friendship with China via BRI
26 Feb 2024
BUDAPEST, Feb. 24 (Xinhua) -- Experts from both Hungary and China discussed China's decisive role in global connectivity through the Belt and Road Initiative (BRI) and expected deepening China-Hungary friendship through BRI during a seminar held here on Friday.
The seminar on Promoting High-quality Belt and Road Cooperation was organized by the Xinhua Institute, a media-based think tank from China.
"The cooperation between our countries is built on solid economic reasoning," said Csaba Moldicz, head of the School of International Relations at the Mathias Corvinus Collegium.
He praised Chinese firms like BYD and battery giant Contemporary Amperex Technology Co., Ltd. (CATL) for their role in modernizing Hungary's automotive sector, a critical component of its economy.
"Investments from companies like BYD and CATL are exemplary of high-quality cooperation, fitting both the strategies of Chinese firms and Hungary's development strategies as well," he added.
CATL has started to build a new factory in the eastern Hungarian city of Debrecen, while BYD plans to build a new factory in the southern Hungarian city of Szeged. Both investments are worth billions of euros.
Many experts attending the seminar advocated for deeper bilateral friendship through joint efforts, especially within the BRI framework.
"The similarities in political philosophy between Hungary and China have led to stronger bilateral relations, with both nations striving for higher quality cooperation based on mutual understanding and respect," said Levente Horvath, director of the Eurasia Center of John von Neumann University.
Gergely Salat, a researcher at the Hungarian Institute for International Affairs, highlighted Hungary's keen participation in the BRI. The Hungarian government has listed connectivity high on its official strategy, while China was the first big country that put connectivity at the center of its foreign policy, Salat said.
Ferenc Banhidi, a professor at Pazmany Peter Catholic University, spoke highly of the Chinese digital giants like Huawei and ZTE for their successful integration into Hungary's economy. He also applauded the innovative business models of Chinese e-commerce leaders such as Temu, predicting significant benefits for Hungary's various sectors.
Zoltan Kiszelly, director of the Center of Political Analyses at the Szazadveg Institute, said that the BRI represents a collective approach to addressing global challenges, transcending traditional geopolitical rivalries.
It's a call for enhanced cooperation in an increasingly multipolar world, prioritizing shared success over individual gains, he said.
Speaking about today's global challenges and difficult international situation, Kiszelly said they were not "unavoidable." "Instead, there is another road, well known to most Europeans, it is the road of cooperation or connectivity," he said.
Source: Xinhua
Interview: Multilateralism essential to solving global problems: World Bank senior official
22 Feb 2024
Axel van Trotsenburg, World Bank's senior managing director pointed out the need to show more international solidarity, reiterating that "multilateralism is more important than ever."
MUNICH, Germany, Feb. 20 (Xinhua) -- Multilateralism is more important than ever in confronting a series of global challenges, a World Bank senior official said.
"More international solidarity is needed, and we can only jointly solve global problems," Axel van Trotsenburg, World Bank's senior managing director, said in an interview with Xinhua on the sidelines of the 60th Munich Security Conference on Sunday.
"We need the active cooperation with international players" and cannot succeed alone, he said.
As the global development landscape becomes increasingly challenging, the plight of poorer countries is of particular concern to the World Bank, said van Trotsenburg.
The senior official said that the global economy faces challenges due to relatively weaker economic growth compared to previous periods, adding that this particularly impacts the prospects of developing countries, especially the poorest ones, which rely on robust growth for job creation.
He pointed out the need to show more international solidarity, reiterating that "multilateralism is more important than ever."
He said that the World Bank has been scaling up financial support, particularly to developing countries.
When discussing China's contribution to the World Bank, van Trotsenburg said China is an active and significant member and has undergone "a very interesting journey" with the World Bank.
He noted that through strong development efforts and the elimination of extreme poverty, China has transitioned from being a recipient of financial support to a donor country that assists the poorest nations.
In his view, China's transformation is very positive and sends an important signal to the developing world that progress can be achieved within a generation.
Source: Xinhua
BRI drives strong Africa-China relations, Ghanaian expert says
22 Feb 2024
ACCRA, Feb. 19 (Xinhua) -- The strong and growing Africa-China relations could be partly attributed to the China-proposed Belt and Road Initiative (BRI), a Ghanaian expert has said.
Paul Frimpong, executive director of the Africa-China Center for Policy and Advisory, a think tank based in Ghana, told Xinhua in a written interview that Africa has been benefiting from the BRI to boost infrastructure development.
The BRI is important for Africa because primary infrastructure bottlenecks in energy, water, sanitation, telecommunications, and transportation, and low access to electricity need to be removed for the continent to achieve its goals of boosting intra-African trade, Frimpong said.
"African infrastructure and economic growth may be unified and expedited due to China's participation in infrastructure projects on the continent. Multiple countries across the continent have benefited tremendously from these relations with China," he said.
"BRI is already helping Africa to improve infrastructure to make it easier to conduct more intraregional and international trade, lower business costs, increase Africa's domestic and international competitiveness, and thereby experience economic success and sustained growth," Frimpong added.
Frimpong said the interconnectivity on the continent provided by Chinese-built projects aligns with Africa's ambitions for the next 50 years, including achieving inclusive social and economic growth by ending poverty, inequalities of income and opportunity, and creating decent jobs, among others.
Besides the economic cooperation, he said, China and African countries are connected by their shared desire to advance the South-South agenda.
"Countries of the Global South broadly applaud China's resolve to forge partnerships based on equality and respect and its commitment to refraining from meddling in domestic issues," Frimpong added.
Source: Xinhua
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