Sunday, 19 November, 2017

Belt and Road summiteers swear by open trade centred around WTO

Chinese President Xi Jinping attends a news conference at the end of the Belt and Road Forum in Beijing China Chinese President Xi Jinping attends a news conference at the end of the Belt and Road Forum in Beijing China
Kenny Thornton | 19 May, 2017, 18:44

World leaders from 29 nations as well as 1500 delegates, investors, entrepreneurs, scholars and media from more than 100 countries attended the event.

President Xi Jinping criticised protectionism yesterday at a summit positioning China as a champion of globalisation, and secured a free trade commitment from nearly 30 other world leaders as the meeting wound up.

In a major setback to China, Europian Union has decided not to issue an official statement on its "modern Silk Road" project, said a report.

At the same time, Xi said that China will also provide RMB380 billion (US$55 billion) in loans from two Chinese policy banks and RMB60 billion (US$8.7 billion) in aid to developing countries and worldwide bodies in countries along the trade routes.

The prime minister is visiting China on the invitation of Chinese President Xi Jinping to attend the Belt and Road forum. The US delegation was led by the Asia director of President Donald Trump's National Security Council.

Beijing is seeking to cement its trade relations in Asia, Africa, and Europe through the summit, but some fear that these new Silk Roads serve the interests of Chinese exporters above all.

In resolving to uphold the spirit of peace, cooperation, openness, transparency, inclusiveness, equality, mutual learning, mutual benefit, and mutual respect, within the framework and principles of the United Nations Charter and worldwide laws, this initiative provides an excellent model for "win-win" cooperation at the global level.

Through infrastructure development under the initiative, China aims to broaden its sphere of economic influence and win allies around the world.

Spurs Return to Western Conference Finals
With plenty of fresh legs, they relentlessly chased Houston's shooters and led by as many as 40 points in the fourth quarter. The Spurs took the win 114 to 75 Thursday night, sending them to the conference finals against the Golden State Warriors.

"We should build an open platform of cooperation and uphold and grow an open world economy", Xi said in his opening address outlining China's vision.

Xi called for governments to pursue "greater openness and cooperation" and "reject protectionism".

Xi said so far, the initiative had won support from 130 countries and 70 global organisations.

Xi said that 68 countries have signed the agreement of cooperation.

Beijing also asked New Delhi to explain what it meant by "meaningful dialogue" on the Belt and Road project.

"I would like to confirm that we are categorically against the expansion of the club of nuclear states, including through the Korean Peninsula", Putin said.

The premier also proposed enhancing defence and law-enforcement cooperation and strengthening exchanges in areas including education, tourism, protection of historical relics, medicine and health.

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