Connect with us

Foreign

China to inject new impetus into global economy

Published

on

By Qu Song, Yu Limin, Xie Yahong, People’s Daily

Foreign enterprises and international experts believe that China’s optimization of COVID-19 response, which expands the flows of people, will help activate the country’s economic vitality and potential, and bring important benefits to world recovery and growth.
China’s economy maintained average annual growth of around 4.5 percent in the past three years, obviously higher than that of the world.
The Chinese economy has demonstrated strong resilience and huge potential. Last year, facing challenges of high winds and choppy waters in the global environment, the Chinese economy achieved stable growth. China’s grain output exceeded 650 million tons for eight consecutive years, and the task of expanding urban jobs was completed ahead of schedule. Besides, the country for the first time saw its total foreign trade exceed 40 trillion yuan ($5.97 trillion), and maintained the world’s largest trader in goods for six years in a row.
The International Monetary Fund (IMF) said global economies will face a tougher year than the previous 12 months as all major growth engines face weakening activity. However, the organization noted that China will achieve stable economic growth in the new year and become the largest positive factor of the world economy.
IMF Managing Director Kristalina Georgieva believes that the Chinese economy will gradually achieve high-level development and end 2023 on a brighter note.
Multiple financial institutions, including Goldman Sachs, French banking group Societe Generale and Morgan Stanley estimated that China’s economy would see stable recovery in 2023.
HSBC said in a Q1 report that China’s export growth still outran the global trade growth. Swiss investment bank UBS AG said many multinational corporations were expanding their production and investment in China.
In a recent report issued by Rhodium Group, the New York-based advisory firm noted that companies which had already invested billions of dollars in China were still executing their investment plans.
George N. Tzogopoulos, a senior fellow in media, international relations and Chinese affairs at the Hellenic Foundation for European and Foreign Policy, said as China optimized its COVID-19 response, the cross-border flow of people will be significantly expanded.
“Investors will find more development opportunities in the dynamic Chinese market,” he said, adding that helps promote economic growth.
Daniel Lacalle, chief economist at Spain’s asset manager Tressis Management, noted that China’s optimization of COVID-19 response is good news to the market in 2023 and will unquestionably boost economic growth around the world.
Albert Keidel, an adjunct professor of economics at George Washington University said more potential in the Chinese economy will be unleashed as China makes efforts to optimize its pandemic response.
The Chinese economy will be strong and a bright spot in the world in 2023, providing “a node of support in terms of global demand,” the professor noted.
Pagon Gatchalee, a lecture at Chiang Mai University, Thailand, noted that China, as a major trading partner of over 130 countries and regions, is committed to promoting high-level opening up and building a new development paradigm. As China optimizes its COVID-19 response, the resilient Chinese economy is expected to provide more and better opportunities for foreign investors and to a large extend benefit ASEAN countries including Thailand, he said.
China’s efforts to coordinate pandemic response and socioeconomic development will better facilitate the exchanges of personnel and cross-border business travel and benefit the global economic development, said Yu Feng, president of Honeywell China.
According to Yu, China has grown into Honeywell’s second largest single market and largest growth market. The company is optimistic about Chinese economy’s advantages in market potential, industrial system, infrastructure and business environment, and is confident in China’s high-quality and sustainable development, he added.
French newspaper Le Monde said on its website that Provence, the Louvre Museum and the La Samaritaine department store are all expecting Chinese tourists to return to France soon.
Harrods, a London luxury department store, recently bought clothing stock designed for a Chinese fit for the first time since 2019.
“We are talking very significant numbers if Chinese tourists return,” said the department store’s managing director Michael Ward, adding that the store would get back old friends that it hasn’t seen in the UK for years.
Singaporean Chinese-language newspaper Lianhe Zaobao said on its website that the market is expecting a sooner rebound of the Chinese economy. According to analysis by the World Bank, every one-percentage growth of China’s GDP will drive the Singaporean GDP to go up 1.2 percentage points. Australian, Thai, Malaysian and Indonesian GDP will also experience growth thanks to the recovery of the Chinese trade sector, the newspaper added.
Alejandra Grindal, senior international economist for Ned Davis Research Group, said China’s optimization of COVID-19 response has lowered the chance of the world GDP growth dropping below 2 percent from 80 percent to 65 percent.
Kiatipong Ariyapruchya, the senior country economist of the World Bank for Thailand, noted that China’s stable economic recovery will become a positive factor driving global recovery.

Continue Reading
Click to comment

Leave a Reply

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

Foreign

A living testimony about MKA: The Aondoakaa that I know Written By Brahms Tor-Ikuan

Published

on

By

My people of Benue State,

I am not speaking to you today as a politician. I am speaking as a brother whose family was held up by Chief Mike Kaase Aondoakaa, MKA, when we had no one else to hold onto.

My elder brother, Verem Ukaa-Ikuan, was not just my blood. He was a very dear and close friend to Chief MKA. When my brother fell ill and was diagnosed with liver damage caused by poisoning, MKA didn’t treat it as someone else’s problem. He took it on as his own.

He worked closely with Verem during his time as Attorney General of the Federation, and when the sickness came, he moved immediately. Searches were conducted, and Apollo Hospital in India was earmarked for a liver transplant. Every travel arrangement was made personally by Chief MKA.

But we hit a wall. Verem was too weak to fly a long commercial flight. Only an air ambulance could get him to India alive. At that time, there was only one functional air ambulance in the entire country, owned by Julius Berger. It was completely out of reach for even the most high-profile citizens.

Chief MKA went all out. He did not give excuses. He did not delay. He used every connection and every ounce of influence he had to secure that air ambulance for my brother.

On the day it was secured, Barr. Terna Yaji, his Senior Special Assistant, called me a few minutes after 6pm. He told us to prepare Verem for departure and take him to Makurdi airport very early the following morning. I informed him, my brother passed on at exactly 6 o’clock a few minutes ago. I told Barr. Terna Yaji, and I saw a devastated MKA.

During the burial, Chief MKA was out of the country on national assignment. He was pained that he could not be there physically. His entire team, led by the late Onov Tyuulugh, represented him fully. And his message to us at the burial has never left me:

“If death were law, as the Attorney General, a law would have been made no matter what to ensure Verem will just not die but live forever.”

That is who Mike Kaase Aondoakaa is when nobody is watching. He does not abandon his people. He does not forget. He stood with our family then, and he has stood with us till date.

Now he is asking for the chance to govern Benue State.

Benue needs a governor with a heart like that. A governor who fights for you even when there’s no political gain. A governor who sees you as family, not as a vote.

I am standing with Chief Mike Kaase Aondoakaa for Governor of Benue State.
For compassion that moves to action.
For loyalty that does not fade.
For leadership that proves itself in the darkest hour.

Join me. Let us give Benue a leader who has already shown what he will do for us.

God bless Chief Mike Kaase Aondoakaa.
God bless Benue State.

Brahms Tor-Ikuan, a beneficiary of MKA’s benevolence writes from Makurdi

Continue Reading

Foreign

China-U.S. relations cannot return to past, but can move toward better future

Published

on

By Guo Jiping

At the invitation of Chinese President Xi Jinping, U.S. President Donald Trump will pay a state visit to China from May 13 to 15.

After many twists and turns, China-U.S. relations have arrived at a new historical juncture. The year 2026 carries special significance for both countries. China is embarking on its 15th Five-Year Plan period (2026-2030), while the United States celebrates its 250th anniversary. 

Amidst increasing global uncertainty and volatility, the international community looks to Beijing, hopeful that this high-level engagement will offer clarity and stability for the future trajectory of China-U.S. relations.

Observers note that over the past decade, the relationship has weathered two significant periods of strain. The first began in 2018 with the U.S. initiation of trade tariffs against China. Stabilization was achieved only after extensive dialogue and complex interactions spanning several years. The second period of tension occurred more recently in 2025. Remarkably, the cycle from rising friction to renewed stability unfolded within just a few months this time.

The progression from years-long to months-long stabilization cycles, and from repetitive friction-dialogue patterns towards clearer strategic direction and consensus-building, reflects China’s consistent approach: readiness to negotiate combined with firm adherence to principles and clear boundaries. China’s demonstrated resilience has garnered international respect and created conditions conducive to resolving differences through dialogue.

Today, China-U.S. dialogue occurs on a more equitable basis. Communication is increasingly pragmatic, with clearer articulation of respective bottom lines. This resilience suggests the potential for a new, more stable chapter in the relationship.

Head-of-state diplomacy plays an irreplaceable strategic guiding role. Last year, when a wave of tariff tensions rattled the world, the two presidents steered China-U.S. economic and trade ties back on course. 

Under the guidance of the consensus reached by the two presidents, the teams from both sides have so far held six rounds of consultations and are currently engaged in a new round of talks. 

Since the meeting between the two heads of state in Busan last October, China-U.S. relations have generally maintained a stable and improving momentum — a trend widely welcomed by both peoples and the international community.

The strategic guidance provided by the two heads of state helps identify “dangerous reefs” ahead in China-U.S. relations. The Taiwan question is the most important and most sensitive issue at the very core of China-U.S. relations, and it concerns the political foundation of bilateral ties. 

Xi has repeatedly elaborated China’s principled position on the Taiwan question to Trump, emphasizing that Taiwan is China’s territory, and China must safeguard its own sovereignty and territorial integrity, and will never allow Taiwan to be separated. Clearly defining principles and bottom lines is precisely the responsible approach needed to prevent serious risks in China-U.S. relations.

The aspiration of the Chinese and American business communities to deepen ties and cooperation has never changed. At present, more than 7,000 Chinese-funded enterprises operate in the United States, while about 80,000 American-invested enterprises are active in China. 

These firm choices made at the forefront of the market clearly and powerfully demonstrate the true nature of China-U.S. economic and trade relations: mutual benefit and win-win cooperation. 

As China enters the 15th Five-Year Plan period, its commitment to high-quality development and high-standard opening up will create broader incremental space for China-U.S. cooperation.

The will of the people stands as a profound and enduring force shaping the trajectory of China-U.S. relations. Whether at those pivotal moments when China and the United States seized every moment to break the ice, or when bilateral relations slid to a low ebb, the sincere aspiration of the two peoples for mutual understanding and friendship has never changed.

As exchanges deepen and produce tangible results, perceptions are improving positively. More Americans are actively participating in fostering people-to-people friendship, contributing greater rationality and constructive perspectives to the relationship.

In the face of profound changes unseen in a century, China and the United States, as permanent members of the United Nations Security Council and the world’s two largest economies, shoulder even greater responsibilities. Promoting global development, safeguarding peace and security, and improving global governance all require cooperation between the two countries. 

This year, China will host the APEC Economic Leaders’ Meeting and the U.S. will host the G20 Summit. Whether the two sides can demonstrate the vision and responsibility expected of major countries, and deliver more tangible benefits to the world, bears directly on the well-being of both peoples and the future of humanity.

China-U.S. relations cannot return to the past, but they can move toward a better future. Both sides should proceed from a sense of responsibility to history, to the people, and to the world, and explore ways to build a strategic, constructive, and stable China-U.S. relationship featuring mutual respect, peaceful coexistence, and win-win cooperation.

Continue Reading

Foreign

China’s robust Q1 performance lifts global confidence 

Published

on

By He Yin, People’s Daily

China recently unveiled its economic performance for the first quarter of 2026. Its GDP reached 33.4193 trillion yuan ($4.9 trillion), up 5 percent year on year in real terms, accelerating by 0.5 percentage points from the fourth quarter of last year. 

The figures have drawn close attention from the international community, which generally believes that amid rising global uncertainty, China’s economy has demonstrated resilience and vitality, injecting much-needed stability and positive momentum into the world.

At present, global instability is intensifying. The spillover effects of geopolitical conflicts are expanding, and international organizations such as the UN and the Asian Development Bank have warned of growing downside risks. The global economy is moving forward under pressure. 

In the face of mounting external uncertainties, China’s economy continues to display strong resilience, robust internal momentum, and proactive, effective macroeconomic policies. Phrases such as “better than expected” and “growth against the headwinds” have frequently appeared in international media coverage. 

Kristalina Georgieva, Managing Director of the International Monetary Fund, noted that China’s economy has shown resilience, possesses immense potential, and will have a positive impact on the world.

Driven by innovation, high-quality development surges forward. In the first quarter, China’s equipment manufacturing sector contributed nearly 50 percent to the growth of value added in industrial enterprises above designated size. In the first two months of the year, high-tech manufacturing accounted for more than half of the increase in total industrial profits, underscoring the growing role of new growth drivers. 

China’s industries are advancing rapidly toward high-end, intelligent, green and upgraded development, delivering continuous breakthroughs in fostering new quality productive forces. 

Exports of green products such as electric vehicles, lithium-ion batteries, and wind turbines and their components rose by 77.5 percent, 50.4 percent, and 45.2 percent, respectively. Meanwhile, investment in frontier fields including AI and humanoid robotics increased by 45.5 percent year on year, and the business vitality index of technology-driven enterprises rose by 8.1 percent. 

Global media outlets have observed promising signs: China’s thriving clean energy technologies are creating huge economic value, and robust demand for AI devices is driving steady growth of China’s foreign trade. These positive trends vividly demonstrate China’s progress in developing new quality productive forces.

Domestic demand has also shown overall improvement, creating favorable conditions for sustained economic expansion. 

Promoting a development model driven more by domestic demand, consumption, and endogenous growth reflects China’s strategic response to changes in its development stage and the evolving international environment. 

In the first quarter, retail sales of consumer goods grew by 2.4 percent year on year, while fixed-asset investment returned to positive growth, indicating that the domestic market continues to deepen and expand. 

At the sixth China International Consumer Products Expo held in Hainan province, a wide range of global debuts, Asia-Pacific premieres, and China launches were showcased, further strengthening China’s reputation as a premier global destination for quality consumption. 

The country’s vast market continues to empower economic development. Some U.S. media outlets observed that China is transitioning toward a more diversified growth model, one that benefits not only China itself but also offers valuable lessons for the global economy.

Amid profound adjustments in the global economic landscape, China remains committed to high-level opening up, creating broad opportunities for the world through its own development. 

A series of opening-up measures have been rolled out, including the launch of island-wide independent customs operations at the Hainan Free Trade Port, revisions to the Foreign Trade Law to better align with international rules, and an expanded version of the Catalogue of Encouraged Industries for Foreign Investment. These steps are improving both the quality and scale of trade cooperation. 

In the first quarter, China’s total goods trade exceeded 11 trillion yuan for the first time in the same period, maintaining double-digit growth and reaching the highest quarterly growth rate in five years. 

Its trade with Belt and Road partner countries accounted for 51.2 percent of the total, while trade with Africa grew by 23.7 percent. Trade with ASEAN, Latin America, the European Union, the United Kingdom, and other APEC economies also recorded double-digit growth. China’s role as a “world market” continues to generate positive spillover effects globally. A more open China will remain a steady anchor for the world economy as it navigates challenges.

The year 2026 marks the opening of China’s 15th Five-Year Plan period (2026-2030). Stable economic growth provides a solid foundation for a strong start to this new phase, while also serving as a stabilizer for the global economy amid turbulent conditions. China will continue to inject sustained confidence and strong momentum into global development.

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.