Saudi investment in Pakistan reflects inclusiveness of

Saudi Crown Prince Mohammed bin Salman has pledged $20 billi

on investment in Pakistan during his trip to the South Asian country over the we

ekend, the first leg of his Asian tour that also includes stops in neighboring India and China.

The unprecedented Saudi investment, half of which will support a refiner

y and petrochemicals complex in the port of Gwadar, is expected to shore up Pa

kistan’s economy hurt by widening current account and fiscal deficits and strengthen trade ties between the two countries.

Some observers are quick to compare the Saudi investment with the China-Pakistan Economic Cor

ridor (CPEC) project under the Belt and Road Initiative (BRI). But for Prime Minister Imran Khan, both are welcome.

“We have CPEC. We have links with China. So we welcome Saudi Arabia to participate with us,” he said.

The crown prince also stressed the potential of the China-Pakistan Economic Corridor which will contribute to the development and prosperity of the region.

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The last time Japanese leaders visited Pyongyang was

during the administration of then prime minister Junichiro Koizumi. As then deputy chief cabinet secretary, Abe was also

part of the visiting delegation. Currently, the domestic politics in Japan is stable. Abe is set to remain in office u

ntil 2021. Abe’s diplomacy with Russia has been criticized at home as fawning toward Moscow. Abe would not risk visiting North Korea if Pyongyang does n

ot make obvious concessions. Japan’s strategic changes toward North Korea should come about gradually.

However, Abe and Kim may meet in a third state, which is friendly with both countries, such as Mon

golia. Their diplomats, special envoys may meet first, laying the ground for both leaders’ face-t

o-face talks. However, a meeting between Abe and Kim may unlikely happen in 2019.

In January, Thubten Gyatso from Moding village in the Garze Tibetan Autonomous Prefecture in Southwest China’s Sichuan Pr

ovince, went to Hainan Province for the first time in his life, where he attended an awards ceremony for rural teachers.

Together with 100 other teachers from China’s rural areas and 20 head

masters of rural schools, Thubten Gyatso received an award for what he has done for stud

ents from Moding village, located in a mountainous area 2,600 meters above sea level between Sichuan and Yunnan provinces.

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On one hand, the EU and the US diverge over a number of

For instance, Trump urged NATO members to increase defense expenditures, while the EU is seeking more strategic independence by devel

oping a European army. But with a slowly recovering economy, Central and Eastern European countries are unable to

cover defense expenses and are not as supportive of the EU’s common defense plan as previously expected.

Meanwhile, with France and Germany signing the Aachen Treaty, the two will engage in more in-d

epth cooperation. Considering the continuous threat allegedly posed by Russia and di

vergences within the EU over defense cooperation, the US can provide a security shield for the Central and Ea

stern European region, such as deploying more troops and upgrading equipment which would gain support fro

m regional countries. Currently, these countries are more prone to NATO as the supplier of public security goods.

Besides public security goods, the US also provides the region with institutions and regu

lations facilitating Western democratic freedom. Actually, the US has never stopped its democratic pervasion and assistance. For example, projects fu

nded by the National Endowment for Democracy have spread across Central and Eastern Europe.

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Modi reforms for foreign investment worth applause

India has accelerated its efforts to make it easier to do business in the country. As China’s labor cost ad

vantage shrinks, Chinese enterprises should pay attention to changes in the Indian economy.

In 2018, India saw more than $38 billion of inbound deals, outnumbering t

hat of China for the first time in two decades, the Economic Times reported. India is

moving in the right direction to make foreign investment a powerful engine for economic growth and poverty alleviation. It

is the same strategy adopted by China three decades ago at the initial stage of its industrialization process.

Ahead of a general election, Indian Prime Minister Narendra Modi is facing growing discont

ent as people question whether his reforms can create enough jobs for young people. But the foreign inve

stment figures suggest that Modi has done a good job in addressing unemployment.

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The UK National Cyber Security Centre has concluded tha

ways to limit the risks from using Huawei in future 5G ultra-fast networks,” according to tw

o people familiar with the matter which has not been made public, The Financial Times reported.

The article comments that the conclusion is “a serious blow to US efforts to persuade

allies to ban the Chinese supplier from high-speed telecommunications systems.”

As a member of the Five Eyes (the anglophone intelligence alliance comprising Austral

ia, Canada, New Zealand, the UK and the US), London may indeed have given a reason for other E

uropean countries to continue using Huawei based on the above conclusion.

Not a single country or organization has found any evidence so far demonstrating that Huawei has illegally collected its device users’ i

nformation. All accusations against Huawei of gathering intelligence for the Chinese government are only ba

sed on imagination. London’s conclusion provides a reliable basis for third parties to dispel such fears.

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Sci-fi blockbuster showcases Chinese vision of cooperation

China’s sci-fi blockbuster The Wandering Earth broke Chinese film’s five-year box office record on th

e North American market. Based on the novel by Liu Cixin, the movie is said to usher in China’s sci-fi blockbuster era.

Does this film resonate simply because it is a good sci-fi film made by Chinese? Of course not. It is mainly because the story reflects the co

mmon concern of people of different color, belief and nationality in the world. That is: the fate of the Earth. We

share a common destiny because we are living in the same global village. The movie has struck a responsive chord in the hearts of its audiences.

American sci-fi filmmakers have a prolonged enthusiasm about the fate of the Earth from the early stage to recent years.

From The Day of the Earth Stood Still in the 1950s to Armageddon (1998) and MegaFault (2009), a long list can be m

ade. Of course, the heroes who saved the planet were all Americans without exception. But this time it is Chinese.

The Wandering Earth shows that Chinese people are sentimentally attached to their mother pl

anet and foreigners feel the same. Indeed, Chinese people offered their own solution in the film. But in fact, the

success of The Wandering Earth is not who saved the planet, but people resolving a severe problem faced by mankind.

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ntal programs and inaugurated several large-scale infrast

projects, including highway, railway, airport and power stations. However, in the face of local protests, the effectiveness of Modi’s economic package, delivered just a few months before the

election, seemed very suspicious. Interestingly, because of the tremendous opposition against the Bill and the frustrating situation on the g

round, BJP’s top local politician who was defending the bill changed his tune almost as soon as Modi left.

Clearly, Modi’s twin election trick, which comprised both nationalistic and developmental ele

ments, was clearly at work during his visit to disputed South Tibet. However, sacrificing the pa

instakingly earned mutual trust and progress in Sino-Indian relations for the sake of ephemeral political benefits seems unwise.

Even though India and China have so far held 21 rounds of talks to resolve the border dispute, and Modi and President Xi have met at least four times in 2018 to bring b

ilateral ties back on a stable footing, the border issue remains the single-most sensitive topic between the two countries. While

the dispute between China and India remains too large to be resolved altogether, both sides would better carefully manage it.

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Globalization needs to be upgraded to serve the interes

In recent years, a rising number of people have realized “the world is undergoing profound changes unseen in a century.” It was more pronounced in 20

18. Some phenomena that people are familiar with are changing direction. The head winds globalization is facing is one example.

Implied meanings of certain words describing key concepts are going the opposite way. For exam

ple, public opinion in some countries is moving against globalization and globalism. Why does this happen?

In the UN General Assembly in September 2018, almost the whole world heard US President Donald Trump’s comp

laint on globalism, which was hard to imagine previously. Terms like “globalism,” “global governance”, which wer

e popular in Western politics, are not hot any more in their birthplace. Is this a time to abandon globalism?

It is expected that “globalization,” “globalism” and “global governance” will see a winter prior to their revival. Not lo

ng ago, World Bank President Jim Yong-kim abruptly resigned, three years before the end of his term. The reason w

as said to be Trump’s dislike for the World Bank and his belief that the international lender is

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ow to sustain positive economic development inlimited to

The 2019 Annual Meeting of the Chinese Economists 50 Forum was held in Beijing on Saturday, with the theme “How to achieve the six stabilities and keep positive economic development in the lo

ng run.” Below are excerpts from speeches given by several renowned scholars and officials at the event.

Fang Xinghai, vice chairman of the China Securities Regulatory Commission

The current IPO system has led to highly consistent investor expectation in the secondary market as they mindlessly buy into

roaring stocks, aggravating price distortions and resulting in low long-term returns on newly listed shares.

Reform to secondary market prices will create a good groundwork for IPO price reform in the future.

Liu Shijin, vice president of the China Development Research Foundation

If we compare [China’s] high-speed growth of the past three decades to eating fatty meat, after we e

ntered a phase of medium-speed growth, transitioning to high-quality development, which will be t

he hard part, is like nibbling on hard bones. There are five sources of growth momentum during the high-quality d

evelopment stage. First, the improvement in low-efficiency growth sources. Second, the income growth of low-in

come groups and the upgrade in human capital. Third, the upgrade to the consumption and industrial structures. Fourth, cuttin

g-edge innovation. Fifth, green development, which is not limited to pollution control and environmental protection.

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German Chancellor Angela Merkel expressed the hope on Febru

that China should be involved in international disarmament efforts. “We would of course be glad if such talks were held not j

ust between the United States, Europe and Russia but also with China,” said Merkel at the 55th Munich Security Conference.

Her remarks were clearly directed against Washington and Moscow’s withdrawal from the Intermediate-Range Nuclear Forces (INF) Treaty.

Yang Jiechi, a member of the Political Bureau of the Communist Party of China Central Committee,

who was also present at the conference, reiterated that “we [China] are opposed to the multilateralization of INF.”

The INF treaty concerns Europe and Germany’s interests. The US took the lead in abandoning INF, resulting in the collapse of the arms control system.

It is understandable that Berlin is anxious, but Merkel’s hasty call for Beijing is rath

er inappropriate. Her words disrespect China’s interests and wishes, and objectively encourage Washington to quit irresponsibly.

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