At the recent G20 summit, the India-Middle East-Europe Corridor (IMEC) backed by the US, Europe and India under the Partnership for Global Infrastructure Investment was announced. This corridor aims to connect Europe, the Middle East and India with rail and shipping routes.
With Biden calling it a "really big deal" and National Security Advisor Jake Sullivan describing the project as "transformative," the project has already been described as one that counters China's Belt and Road Initiative (BRI), which has been signed up to by the majority of the world.
However, the working group tasked with drawing up a fuller plan, over the next sixty days, will have to confront some harsh economic realities relating to funding, material capabilities and the ideological outlook of the main countries involved.
When it comes to funding, let's not forget that the Build Back Better Plan undertaken by the G7 in 2021 to counter the BRI was consigned to the dustbin of history the same year it was announced.
The $1.7 trillion package (less than two years of US defense spending) was considered too costly.
Railway linking India, the Middle East and Europe would be the center piece of the IMEC. When it comes to infrastructure, the US and India do not set good examples for others to follow, yet they expect to compete with China which has first-rate infrastructure. Rather than build something abroad, based on hegemonic competition against China, it would be better for the US and India to demonstrate they can solve the basic democratic infrastructural needs of their citizens first.
Even if internal infrastructural issues and financing can somehow be overcome, the ideological attitude of maintaining economic hegemony that the West holds toward the Global South acts as a barrier to the IMEC. Only with gunship diplomacy could the US force states to buy exclusively from expensive Western companies. Even then, many components will be sourced from China.
At any rate, we are in a multi-polar world now. The Saudi-Iran rapprochement, the enlargement of BRICS, and the good relations in the region toward Russia and China show that the Middle East refuses to take sides and will trade with all. Another Iraqi-style invasion in the region to maintain US-led economic predominance would be foolhardy, as such, the West must be competitive in the market.
Currently, Saudi Arabia is choosing China when it comes to rail construction - though this too is an international effort that pulls in Western companies. The China Railway 18th Bureau Group has already completed the 450km-long Mecca-Medina High-speed Railway and is working on the Medina Tunnel Project along with the Saudi Rua Al Madinah Holding Company, Canada's WSP and US-based Parsons. The linking of Saudi's eastern and western seaboard, while led by China, is also a joint international project. This further highlights the lunacy and impracticality of fencing off the world economy.
One of the major forces driving US hegemonic attempts is its capitalist system which seeks immediate profits. This motivation has led to the decay of US infrastructure and a lack of long-term railway investment; a similar "democratic" system sees India's infrastructure in shambles too. Furthermore, much of the Global South remains in tatters after being harvested by the US military-industrial complex, which seeks quick profits from war and sees development as a threat to its economic hegemony.
In contrast, The BRI is premised on long-term social economic planning. Some projects will not be profitable for decades - many will provide immense social-economic benefits but no profit extraction for private capital. China's socialist system subordinates capital for the democratic good of society and it's because of this that it has the world's largest high-speed rail network, which it can then sell abroad at competitive prices.
In an attempt to conceal China's governing advantages and foresight, the corporate press labels Chinese-involved projects that don't reap immediate profits as "white elephants." Indeed, the debt trap narrative has been constructed to conceal the BRI's long-term planning and misdirect attention from private capital lending, which is far more severe than Chinese loans and the source of much suffering in the Global South.
Certainly, should the IMEC get off the ground without Chinese involvement and sell expensive Western infrastructure, then it will be interesting to observe the Western ideological apparatus scramble to justify how their venture is superior to the BRI, the initiative that the majority of the world has already voluntarily signed up to. There is still an open invitation for Europe, the US and India to join!
The author is an independent international relations analyst who focuses on China's socialist development and global inequality.
Since President Yoon Suk-yeol took office, it seems that the dangerous side of South Korea's politics has become prominent. This is reflected not only in foreign affairs, such as the increasingly hostile and confrontational approach toward China, but also in domestic affairs, where partisan conflict has become intensified and polarized, potentially creating more obstacles for Yoon's governance.
On Monday, South Korean prosecutors requested an arrest warrant for the leader of the main opposition Democratic Party of Korea (DPK), Lee Jae-myung, on suspicion of various charges, including fraud and bribery. Earlier that day, Lee was hospitalized after 19 days of a hunger strike in protest against government policies.
So far, the DPK leader has been summoned for prosecution questioning five times after last year's presidential election, and he claimed all the allegations were fabricated. Seoul and the ruling conservative party's tough stance toward Lee has become increasingly obvious. In last year's election, Yoon was elected by a narrow margin of 0.73 percentage points over the DPK leader. This means that the popular mandate of Yoon's governance is not quite strong.
South Korea's politics has become chaotic. What happened to Lee is not an isolated incident, but a reflection of the intensifying partisan conflict in South Korea and people's dissatisfaction with the Yoon administration over many issues. In particular, Seoul has demonstrated utterly unprincipled support for Tokyo regarding Japan's dumping of nuclear-contaminated wastewater into the sea, which has triggered anger among South Koreans.
In fact, politicians who engage in partisan conflict in South Korea fight more for the interests of their respective political parties and the chaebol groups behind them. Moreover, as a result of political polarization, it becomes difficult for parties in the country to find any common ground to cooperate. Under such circumstances, the Yoon administration may remain stuck in troubled waters.
A new poll released by Realmeter on Monday shows that 61.8 percent of respondents - a recent record high - viewed the governance of the Yoon administration as poor, while only 35.5 percent favored it. Meanwhile, the support rate of the PPP dropped 1.5 percentage points to 35.3 percent and the DPK's rose 1.8 percentage points to 46 percent. Clearly, the Yoon administration and the ruling party are facing a slump.
It is easy to find the reasons behind Yoon's poor governance. In addition to a series of scandals involving people close to Yoon, the South Korean president should blame himself for making mistake after mistake in specific policies since he came to power.
Economically, a series of measures taken by Yoon to boost the economy are yet to take great effect, leading South Koreans to feel more hopeless for economic recovery. The situation is even worse in terms of foreign policy. The Yoon administration completely disregarded the well-being and interests of its own people, easing its relations with Japan without any principle and even seeking to pander to Japan, and this has caused a huge backlash at home. The current approval rate of 30-something percent comes most likely from the base voters of Yoon and the PPP, and it is almost impossible to grow as Seoul and the ruling party have lost the trust of the centrists.
South Korea will expect legislative elections in April next year. All the parties and politicians are going to be competing for the approval of the voters, while highlighting the mistakes and shifting the blame on their opponents. In short, the partisan conflict in South Korea, especially the one between the PPP and the DPK, is only going to become more and more intense as the elections approach.
Yun Duk-min, the South Korean ambassador to Japan, stated that "high-level" talks are underway for a China-South Korea-Japan summit poised to happen this year, and there may be a "Camp David effect" that prompted China to reach out to its neighbors, Bloomberg reported on Friday. Yun also emphasized that the trilateral meeting among South Korea, Japan and China will not harm the relationship between Seoul and Washington. Given that Yun is not only the South Korean ambassador to Japan but also one of the key foreign policy aides during the election campaign of South Korea President Yoon Suk-yeol, his words reflect a serious misunderstanding of South Korea's own position, and trilateral cooperation among China, Japan and South Korea.
Firstly, South Korea overestimated the impact of the Camp David summit on enhancing Seoul's international status. Yoon has been proactively promoting the improvement of South Korea-Japan relations and participating in strengthening trilateral cooperation with the US and Japan, with the aim of enhancing South Korea's international status. However, in this process, the US once again demonstrated its ability to coerce and entice its allies, obtaining everything Washington wants while South Korea lost what it should not have lost. Apart from making "contributions" to the US-Japan-South Korea alliance, South Korea did not gain any substantial benefits. The Camp David summit did not enhance South Korea's status, but rather the US' status. In fact, for the Chinese people, South Korea did not increase its international status but rather diminished it by further ceding its sovereignty to the US and Japan.
Secondly, South Korea has misinterpreted the status of the trilateral summit among China, Japan and South Korea. Yun has portrayed the trilateral summit as a result of the strengthened cooperation among the US, Japan and South Korea, which is a distortion of the original intention of the China-South Korea-Japan high-level talks.
The trilateral summit among China, Japan and South Korea began in November 1999, and in December 2008, the leaders of the three countries met for the first time outside the 10+3 framework in Fukuoka, Japan, and decided to build a future-oriented comprehensive cooperative partnership. The three countries also decided to hold separate annual trilateral summit meetings on a rotating basis while keeping the mechanism of trilateral leaders' meeting in the sidelines of the 10+3 Summit.
Thirdly, South Korea intentionally conceals the negative effects of Camp David summit. The so-called "effect" of the Camp David meeting among the leaders of the US, Japan and South Korea did exist, but it did not stimulate China's desire to resume the trilateral meeting among China, Japan and South Korea. Instead, it stimulated neighboring countries to rethink how to respond to the "new cold war" initiated by the US, Japan and South Korea.
North Korea's leader Kim Jong-un recently visited Russia. The US, Japan and South Korea never reflect on who first created the division in Northeast Asia and who has been pushing for the formation of a "new cold war" pattern in Northeast Asia. Instead, they are shifting the blame and claiming that North Korea and Russia's cooperation will lead to a more aggressive response from the US, Japan and South Korea.
China's stance toward cooperation among China, Japan and South Korea has always been consistent. China attaches importance to such cooperation and believes that trilateral cooperation is in the common interest of the three countries. China also supports South Korea as the chair country for hosting this meeting. However, South Korea should not perceive China's support as a sign of weakness or as a result of Seoul leaning toward the Washington and Tokyo to gain a so-called greater say. It would be very dangerous if South Korea has such thoughts, and we hope that South Korea will wake up to this reality as soon as possible.
When US House Speaker Kevin McCarthy was ousted on Tuesday from his leadership post, he became the shortest serving speaker since 1875. A handful of far-right Republicans joined Democrats and stripped the California Republican of the speaker's gravel with a 216-to-210 vote, after McCarthy worked with Democrats to pass a short-term funding bill to avert a government shutdown.
The ouster appears sudden, but is not surprising. It is no secret that some far-right Republicans hold radical ideas and refuse to cooperate with the Democrats in any form. Moreover, McCarthy's post was fragile from the very beginning. Matt Gaetz, who was among the Republicans to force a successful vote to vacate the chair on the House floor, repeatedly voted against McCarthy's bid for speaker in January. McCarthy ultimately secured the gavel after 15 rounds of voting over four days. To win the job, McCarthy had to agree to rules that made it easier to challenge his leadership.
Democrats also viewed him as untrustworthy. He broke a May agreement on spending with President Joe Biden. Despite the fact that McCarthy worked with the Democrats to pause the US shutdown, he did not win the support of a single Democrat in Tuesday's vote. Democrats still believe that the presence of McCarthy, who in September ordered an impeachment inquiry into Biden, would hinder the political agenda of the Biden administration. They also believe that ousting McCarthy would trigger chaos within the Republicans and stymie the Republicans' moves against the Democrats. All in all, McCarthy had already become a "lame duck" speaker.
Zhang Tengjun, deputy director of the Department for American Studies at the China Institute of International Studies, told the Global Times that the ouster of McCarthy shows that against the backdrop of intensified bipartisan struggles, loyalty to the party triumphs everything, from the two parties' ability to make compromises and reach consensuses in the interests of the American public.
"It does not matter if one is the House speaker or not; what matters is which party he or she belongs to. This shows the extent to which the Democratic Party and the Republican Party divide," Zhang noted, adding that the US politics is now entering an era of "a host of demons dancing in riotous revelry."
McCarthy's ouster has been covered extensively by the US media, adding to the frenzy. But actually, it is the very representation of the US' so-called democratic politics. What normal democratic politics means is that the functioning of politics will not be affected by the removal of any single politician. But obviously, the ousting of McCarthy has plunged the House into chaos. And McCarthy's fate reflects how cooperating with the other party impacts political fortunes.
Wei Zongyou, a professor from the Center for American Studies, Fudan University, told the Global Times that from a deeper perspective, democratic politics is not all about elections, but about mutual compromise and restraint.
"If the two parties cannot make compromises and exercise restraint, but turn different political opinions into an excuse to crusade against the other side or launch a life-and-death struggle, it may lead to a deadlock or even a civil war, and the only consequence is that the foundation of democratic politics will be destroyed," said Wei.
US democracy is facing a severe test as the 2024 presidential election looms. The Republicans have to tackle the current chaos and address this most recent leadership crisis. Without a powerful House speaker to bridge the divergences among the Republicans, it will affect the overall election strategy of the Republican Party and its advancement of its political agendas.
The Democrats, sitting in the House chamber to watch the farce from afar, could laugh at the Republicans and accuse them of not being able to govern the country and being the reason behind ongoing political gridlock. But they also need to be aware that if the Republicans refuse to cooperate in any issue, the Biden administration's political agenda may also suffer. A chaotic situation next year does not necessarily bode well for the Democratic Party, and the outcome of the 2024 election remains uncertain and unpredictable.
Taiwan regional leader Tsai Ing-wen delivered her "Double Ten" (October 10) speech on Tuesday. This is Tsai's last "Double Ten" speech before she steps down in May 2024, but also a continued vow by the Democratic Progressive Party (DPP) to step up its provocations and rash actions in the future.
It is clear to see what Tsai wants to achieve through this year's speech. Firstly, she gave a long list of her accomplishments since coming to power, which aims to boost DPP's votes for the upcoming elections. Secondly, the Tsai authorities have been pushing forward "de-sinicization" and promoting "incremental independence" on the island of Taiwan. In this year's "Double Ten" speech, Tsai intended to draw Taiwan residents further into her version of "Taiwan independence."
As Tsai's terms come to an end soon, some interesting changes of rhetoric can be witnessed in her Tuesday address. In her "Double Ten" speech in 2019, Tsai specifically mentioned that her authorities "will not act provocatively or rashly" on the cross-Straits issue, and then she didn't mention "We do not provoke" until this year.
With such a seemingly softened tone, Tsai is actually speaking for the DPP and Lai Ching-te, the party's candidate for regional leadership. On the one hand, as China-US relations have shown signs of easing recently, the DPP now needs to assure Washington that it will not intensify its provocations toward the Chinese mainland. On the other hand, the DPP can also use the promise of "not acting provocatively or rashly" to fool voters on the island who are worried that cross-Straits relations will face even greater challenges if Lai becomes the next regional leader.
In addition, experts told the Global Times that Tsai seeks to leave some leeway for herself by continuing to tone down her provocations, because if a non-Green camp comes to power, then there might be a possibility that she will have to face political liquidation for what she has done as the regional leader.
Regardless of how Tsai gushed about how she wants peace in the Taiwan Straits, in the past seven years we have seen Taiwan enhancing its provocations and rash actions under her leadership. During this period, the DPP authorities' refusal to recognize the 1992 Consensus has grown blunter, and its stance of seeking US support for "Taiwan independence" has become firmer. Taiwan's relationship with certain countries unwilling to adhere to the one-China principle has become closer, while the provocation of the one-China principle in the international arena has grown stronger. As a result, the cross-Straits relations have reached a new freezing point.
In last year's "Double Ten" Speech, Tsai showed her desire to "make Taiwan a Taiwan of the world, and let us give the world an even better Taiwan." But the world will only become a better place if peace and stability in the Taiwan Straits remain - that is when the Taiwan secessionists stop their dangerous moves to stir up troubles and tread on the mainland's red line.
Unwrapping the DPP's pursuit of Taiwan's "visibility" in the international community - or in Tsai's words, "making Taiwan a Taiwan of the world," we see a vicious ambition of pushing for "Taiwan independence." But the more the DPP takes action to achieve this goal, the more the world understands the importance of adhering to the one-China principle.
As Taiwan's elections approach, Tsai's last "Double Ten" speech signifies the beginning of a new round of tricks the DPP will play on cross-Straits issues. However, there is no future for Taiwan secessionists; reunification will and must happen. No matter what kind of approach the DPP authorities will take to promote "Taiwan independence," extermination will ultimately be the end of these forces.
Editor's note: China and Greece share a solid foundation of political trust and enjoy robust trade and economic cooperation. This partnership holds substantial potential within the context of the China-CEEC cooperation mechanism and China's Belt and Road Initiative (BRI), which marks its10th anniversary this year. Piraeus Port's transformation led by China COSCO Shipping has been nothing short of extraordinary. In a recent exclusive interview, the Chinese Ambassador to Greece Xiao Junzheng (Xiao) told the Global Times reporter (GT) Yin Yeping how bilateral relations can further deepen and flourish in the coming years.
GT: This year marks the beginning of the second decade of cooperation between China and the Central and Eastern European countries (CEEC). In this context, how could China, Greece, and CEE countries engage in deeper and broader cooperation?
Xiao: Since the initiation of the cooperation mechanism between China and the CEEC, a comprehensive cooperation framework covering more than 20 areas has been established. Many cooperation projects have yielded fruitful results, with bilateral trade doubling over the past decade, and Chinese investment in CEEC increasing sixfold. The China-CEEC cooperation mechanism has become an important platform for the continuous deepening of friendly relations and the ongoing expansion of cooperation between China and the region. This year marks the beginning of the second decade of cooperation between China and the CEEC. In China's journey toward modernization, Greece can become a significant partner. Likewise, in Greece's efforts to enhance its national competitiveness, China could be a crucial partner, providing assistance and support. China and Greece enjoy a high level of political mutual trust, a strong foundation for cooperation, and significant potential for the future within the framework of the China-CEEC mechanism. In the future, cooperation can focus on the following aspects: Firstly, promote mutually beneficial and practical cooperation. The Greek government has prioritized digital transformation and the development of a green economy. Both China and Greece can further align their growth strategies, while expand cooperation in green economy, digital economy, technology innovation, and the service industry. Secondly, enhance connectivity. China COSCO Shipping's investment project at Piraeus Port and the China-Europe Land-Sea Express Line originating from Piraeus Port have evolved into crucial links between land and sea, effectively connecting Europe and Asia. In the future, China and Greece can strengthen their commitment to the comprehensive development plan for Piraeus Port, enhance cooperation in trade, make new contributions to stability of the China-Europe industrial and supply chains, promoting economic integration in the Balkans, and advancing the EU integration. Thirdly, accelerate cultural and tourism cooperation. China supports Greece in hosting the 6th China-CEEC High-level Conference on Tourism Cooperation. China is willing to work with Greece to do a good job in cooperation regarding China-Greece Year of Culture and Tourism, continue to implement the Joint Action Program 2022-2024, build tourism brands, and initiate a broader spectrum of diverse cultural and tourism cooperation.
GT: How do you view the significance of Chinese companies' achievements in Piraeus Port for promoting economic recovery of Greece and the development of China's international maritime industry? What insights can the success in Piraeus offer for future cooperation?
Xiao: Since China COSCO Shipping Group took over the operations of Piraeus Port, they have managed it actively and prudently, making efforts to expand its market presence. This century-old port has experienced a remarkable revival and achieved significant growth, propelling the rapid advancement of local logistics and industrial chains. Currently, the Piraeus subsidiary of COSCO Shipping has invested over 1 billion euros in port construction. The Piraeus Port has seen a significant rise in container throughput ranking, climbing from 93rd place in 2010 to 29th place in 2021, establishing itself as a leading Mediterranean port. This development has directly created over 3,000 jobs for local community. In total, the efforts have contributed over 1.4 billion euros to local community. Piraeus Port is the closest European port to the Suez Canal, making it a crucial gateway for Asian goods, including those from China, to enter Europe. Piraeus' development has attracted cargo from multiple countries as a transshipment hub to Europe, significantly enhancing international trade efficiency and reducing shipping costs. The success of the Piraeus project serves as a vivid example of the BRI and stands as a significant achievement in the cooperation between China and Greece. As long as both China and Greece remain committed to their shared goals, uphold the principles of consultation, joint construction, and shared benefits, and continue to foster a spirit of cooperation and mutual prosperity, by aligning their national development strategies, it is believed that practical cooperation between China and Greece will continue to yield even more fruitful results in the future. GT: There are voices trying to undermine the mutually beneficial cooperation between China and Greece, the narratives like "China's investment in global ports is a threat." How do you view these voices?
Xiao: China's promotion of the joint construction of the BRI is not driven by geopolitical maneuvering, nor does it pursue self-interest for hegemonic purposes. And, China does not seek to create disruptive alliances. Over the past decade since China introduced the initiative, it has consistently adhered to the principles of mutual consultation, cooperation, and shared benefits. As a result, the Belt and Road has evolved into a widely embraced international public good and a platform for international cooperation. There are some voices alleging that China's investment in Piraeus Port has "non-commercial purposes," which are entirely baseless. The facts demonstrate that China's cooperation with relevant countries, including Greece, in port development is aimed at promoting economic and trade cooperation between nations. This cooperation contributes to local economic development, infrastructure improvement, and job creation. It is based on mutual benefit and results in win-win outcomes for all parties involved. In my previous introduction, I highlighted the outstanding achievements that COSCO Shipping Group has secured in operating Piraeus Port. It has transformed Piraeus into a port of win-win cooperation, green development, economic growth and more. The international community has widely recognized these accomplishments, and high-ranking Greek officials, including the President and Prime Minister, have praised the mutually beneficial nature of this project. In 2022, Piraeus Port also received awards such as the "Outstanding Contribution to Tourism Industry" award from the Greek Ministry of Tourism and the "Diamonds of the Greek Economy" award from Hellenic Shipping News. These accolades further illustrate the widespread recognition and approval of the Piraeus Port project by Greek society. China's practical cooperation with countries around the world in infrastructure development, including port construction, strictly adheres to the principles of consultation, joint construction, and shared benefits. It aims to create more opportunities for mutual development. This cooperation is conducted transparently and openly, without posing any security threats to any country.
GT: With the optimization of anti-pandemic policies, Greece is expected to see more Chinese tourists. What do you think are the opportunities for cooperation between China and Greece in tourism and cultural exchanges?
Xiao: China and Greece are both ancient civilizations and significant global tourist destinations. People to people exchanges are essential components of practical cooperation. The tourism industry is one of the pillars of the Greek economy, contributing some 20 percent to Greece's GDP. China, with the world's largest middle-income population, has seen rapid development in the tourism market. In the post-pandemic era, both China and Greece will continue to actively implement the 2022-2024 Joint Action Program, focusing on enhancing cooperation in tourism. Both sides will make full use of existing tourism cooperation platforms and utilize platforms like the China International Travel Mart to promote bilateral tourism cooperation. Efforts will also be made to enhance visa processing efficiency, and increase direct flights. I believe that the orderly recovery of China's outbound tourism will enhance the friendship between Chinese and Greek people, strengthen the ties of cultural exchange between China and Greece, and better leverage the tourism industry's significant role in promoting economic development and deepening the friendship between the two countries.
GT: The New Democracy party, led by Greek Prime Minister Kyriakos Mitsotakis, recently won a second four-year term. What are your expectations for bilateral cooperation in the coming months?
Xiao: The ancient Greek philosopher Aristotle once said, friendship is a single soul dwelling in two bodies. China and Greece are comprehensive strategic partners with a history of friendly exchanges dating back thousands of years. In the 51 years since establishing diplomatic relations, both countries have navigated the changing international landscape. Both sides have demonstrated mutual understanding and support on issues of core interests and major concerns. The two countries have become an exemplary model of peaceful coexistence and win-win cooperation between nations of different scales, systems, national conditions, and civilizations.
Following the re-election of the New Democracy Party government, they have continued to support the co-development of the BRI and cooperation between China and Central and Eastern European countries. They are willing to work hand in hand with China to deepen mutually beneficial cooperation.
I believe that in the future, under the guidance of the high-quality construction of the BRI, both sides will promote the realization of China's modernization model and Greece's enhancement of its national competitiveness. Together, both sides will nurture new areas of cooperation such as green development and the digital economy, bringing greater prosperity to the people of both countries.
GT: How do you evaluate the cooperation achievements between the two countries under BRI? And, in which areas could the two countries ramp up their cooperation?
Xiao: China and Greece, despite being geographically distant, have a history of communication dating back over 2,000 years through the ancient Silk Road that spanned east and west. Today, in the midst of deepening globalization, the cooperation in building the BRI is once again connecting the two great civilizations. With the joint efforts of China and Greece, their mutually beneficial cooperation has yielded fruitful results. This has not only enriched the content of the comprehensive strategic partnership between China and Greece but also has brought tangible benefits to the people of both countries. Since China COSCO Shipping took over the management of the Piraeus Port, the port has experienced a remarkable transformation. The container throughput has grown from 880,000 TEUs in 2010 to over 5 million TEUs today, making it a leading port in the Mediterranean. The China-Europe Land-Sea Express Line, from its inception, has become the third trade corridor between China and Europe, in addition to traditional maritime routes and China-Europe freight trains. China's State Grid Corporation's investment in the Greek national electricity grid project, and State Power Investment Corporation's acquisition of the Kafireas wind power project have alsoy generated significant economic and social benefits. In the journey to develop green and digital economies and to build new national competitiveness in Greece, both China and Greece can strengthen their partnership through high-quality cooperation in the BRI. We can consolidate and deepen existing cooperation projects, advance connectivity cooperation represented by Piraeus Port and the China-Europe Land-Sea Express Line.
GT: In your opinion, what areas of deep cooperation could China and Greece engage to address climate change and promote green, low-carbon transformation?
Xiao: This summer, Greece experienced extreme high temperatures and wildfires, while many regions in China faced high temperatures and extreme rainfall. Both China and Greece are victims of global climate change and share common aspirations and motivations in addressing climate change. China adheres to the concept of new development and actively promotes green and low-carbon development, fulfilling international commitments in addressing climate change. In recent years, Greece has also been proactive in addressing climate change issues, enacting clear emission reduction legislation, advancing energy structural adjustments, and vigorously developing a green economy. The concept of green development is increasingly being reflected in the cooperation projects between the two sides. Chinese new-energy vehicles have entered the Greek market this year. China and Greece have strengthened their strategic alignment in technology development under the framework of the China-Greece Joint Committee on Science and Technology Cooperation and the Belt and Road Science, Technology and Innovation Cooperation Action Plan. In the Memorandum of Understanding on China-Greece Scientific and Technological Cooperation signed by the two countries' science and technology departments last year, addressing climate change emerged as a key area of collaboration, with a focus on forest management, challenges related to water resource biodiversity, and climate adaptation policies. Both countries have already established a solid cooperation foundation in green and low-carbon transformation fields such as biomanufacturing and solar energy. China and Greece have vast rooms for cooperation related to mitigating global climate change by promoting green growth.
China's solar power industry is generating new income for residents in Yantai, East China's Shandong Province, with fruit, vegetables and other economic crops being planted under photovoltaic (PV) panels, according to a Monday press release.
On the hillside of Fajuan village in Yantai, PV panels continually turn sun lights into green energy to supply many households, while fruits, vegetables and Chinese Traditional Medicine crops planted under the panels brought new incomes for villagers.
"I received 2,000 yuan ($ 280 dollar) per mu for renting the land for the PV panels, and I grow cherry under the panel, which is a double income," said local resident Wang Hongkui.
A new solar power project in Yantai has recently been connected to the power grid and entered operation. The project combined local farming features with solar power, allowed villagers to plant organic vegetables, fruit, and herbs under the PV panels.
The PV power station can produce 70.22 million kWh annually, and bring over 500,000 yuan to more than 700 residents. The solar power can save 21,417 tons of coal and reduce 57,160 tons of carbon dioxide emission.
Yantai power company, under the State Grid Corporation of China, has established PV projects that combined fishery and PV, animal husbandry and PV and farming and PV. The share of power generation rose as established and gridded more new energy projects.
As of the end of September, Yantai's green energy generating capacity has reached highest amount in Shandong to 11.75 million kWh, accounted for 54.49 percent of the Yantai's total generating capacity.
According to data from the local energy administration, Shandong's the new energy generating capacity in the first half of 2023 reached 83.82 million kWh. The PV generating capacity surged by 120 percent to 49.46 million kWh compare to the end of 2020.
China has focused on green energy development in light of the country's "dual carbon" goals.
The Hangzhou Asian Games in East China's Zhejiang Province, as the latest example, applied green sporting venues equipped with wind, photovoltaic and other clean energy, has realized 100 percent green power generation.
Official data showed that China's electricity generated on renewable resource reached to 1.34 trillion kWh in the first half of 2023.
China will further pursue high-level opening-up in the services sector and will shorten the negative list for investment in the country's free trade zones (FTZs). The country will also strive to roll out a negative list for cross border services trade, a vice minister of the Ministry of Commerce said on Wednesday.
"At present, the negative list for foreign investment access in the pilot FTZs has been cleared for the manufacturing industry, and the focus next will be on promoting the opening-up of the services industry," Vice Minister of Commerce Sheng Qiuping told a press conference at the State Council Information Office on Wednesday.
"We will work with relevant departments to conduct in-depth research and promote the rational shortening of the negative list for foreign investment in the pilot FTZs. Meanwhile, we will promote the introduction of a negative list for cross-border services trade and lead the country's continued opening-up," Sheng said.
On Tuesday, a seminar was held in Beijing to mark the 10th anniversary of the establishment of China's first pilot FTZ.
China's top leaders have recently delivered instructions on advancing the development of pilot FTZs, calling for higher-level pilot FTZs and enabling the pilot FTZs to play an exemplary role.
China should pursue high-level opening-up with institutional innovation at the core, coordinate development and security, align domestic rules with international economic and trade rules, further promote institutional opening-up, strengthen overall planning and systematic integration of reform, and promote innovative development of the entire industrial chain, according to the instructions.
Tu Xinquan, dean of the China Institute for WTO Studies at the University of International Business and Economics in Beijing, told the Global Times that China's FTZs have made great progress in the past decade but further improvement and breakthroughs are needed.
"The further opening-up of the services sector will be a major area to work with," Tu said. "Due to the nature of services, there would be better results if all FTZs could implement new and innovative opening-up measures in services simultaneously, under coordinated orchestration by the central government."
Experts said that as China is preparing to join high-level international agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), further liberalizing the services trade and investment will be productive.
Li Yong, a senior research fellow at the China Association of International Trade, told the Global Times on Wednesday said that it is important that the experience from the FTZs should be a template for other areas in the country.
Over the past decade, each pilot FTZ has made many iconic and groundbreaking achievements in institutional innovation, playing the role of comprehensive experimental platforms for reform and opening-up, according to officials at Wednesday's press conference.
China has 21 pilot FTZs. While they occupy less than 0.4 percent of China's land area, they attracted 18.1 percent of total foreign investment and contributed 17.9 percent of the country's total foreign trade in 2022. In the first half of 2023, the ratios were further increased to 18.4 percent and 18.6 percent, respectively.
The China (Shanghai) Pilot Free Trade Zone (FTZ), the inaugural pilot FTZ in China, has seen an increasing number of newly established firms and an improving business environment over the past decade, according to a white paper released Wednesday. The zone had attracted 84,000 new enterprises by the end of 2022.
In the first eight months of this year, the foreign trade volume in the China (Guangdong) Pilot Free Trade Zone grew by 17 percent year-on-year to 341.18 billion yuan ($46.67 billion), state broadcaster CCTV reported on Wednesday. The growth rate was way higher than the province's foreign trade growth, which came in at 0.2 percent during the period.
The vast potential of China's domestic consumer market was on full display on Friday, the first day of Mid-Autumn Festival and National Day holidays, as catering and the box office embraced significant increase in business activity.
Starting from starting from September 29 to October 6, the 8-day-holiday is the longest public holiday of the year. Analysts expect to see a surge in domestic consumption.
Multiple entertainment and consumption areas in Beijing welcomed crowds of visitors on Friday as 60 major business districts across the capital city saw a total of 6.89 million people visit, an increase of 11.9 percent year-on-year, according to the Beijing Municipal Commerce Bureau on Saturday.
The bureau also reported total daily sales of nearly 100 shopping malls, supermarket, online and offline stores, restaurants reached 1.39 billion yuan ($190.54 billion), up 40.4 percent year-on-year.
According to data from Chinese food delivery platform Meituan and Dazhongdianping, a Chinese version of Yelp, as of Friday noon, the volume of dine-in order increased by 110 percent over the first day of 2022 National Day holidays.
China’s total box office (pre-sale included) of new films during the 2023 Golden Week holidays crossed 1 billion yuan as of 21:18 on Saturday, according to ticketing platform Dengta. The top three are all domestic films - Under the Light, Ex-files 4: Marriage Plan and Korean War-themed epic The Volunteers: To the War.
