BEIJING China (Xinhua) -- The
year of 2018 has seen the world coming to the stage of changing international
landscape and the shifting balance of power, facing growing uncertainties and
confidence and achieve win-win results, the international community is urged to
adhere to openness, inclusiveness and cooperation, given the rising
economic front, the International Monetary Fund (IMF) said in its outlook in
October that “global growth for 2018-19 is projected to remain steady at its
2017 level, but its pace is less vigorous than that projected in April and has
become less balanced.”
lowered its forecast for the 2018-2019 growth to 3.7 percent, 0.2 percentage
point less for both years than the April forecast, due to “suppressed activity
in early 2018 in some major advanced economies, the negative effects of the
trade measures implemented or approved between April and mid-September ...
geopolitical tensions, and higher oil import bills.”
announced in March that it would impose a 25 percent tariff on steel imports and
10 percent on aluminum, and dramatically escalated trade tensions by imposing
steep tariffs on Chinese imports worth billions of dollars. China has to hit
back proportionally by rolling out its retaliatory tariff plan.
trade hawks’ unilateral moves have undermined a rule-based multilateral trading
regime with the World Trade Organization (WTO) at its center which had been
crucial for collective global growth.
said the U.S. policy, under the pretext of national security, allowed
protectionism to rise and resurrect the ghost of unilateralism that has been
dormant for decades.
Union warned that the multilateral trading system is in “a deep crisis” and the
United States is “at its epicenter.”
this issue, Chinese President Xi Jinping and his U.S. counterpart Donald Trump
had an in-depth discussion on Dec. 1 in Argentina. They agreed to prevent
further escalation of the trade frictions and put the disputes back on the track
of resolution through dialogue and consultation.
In the past
decades, economic globalization has brought opportunities as well as challenges
for all countries. Erecting trade barriers is the incorrect method to tackle
rational partners, China is committed to promoting global growth and joined the
efforts to push for necessary reforms of the WTO through consultation on equal
intensified major-country competition, power shifts accelerated as the
international system is undergoing serious strains.
Brexit and “Yellow Vest” protests are currently testing the leadership of
Britain and France.
who struck a deal with Brussels, survived a no confidence vote earlier this
month in her own party and may face a second such vote at Westminster,
suggesting a bumpy road three months ahead of Brexit.
cabinet has discussed a No Deal Brexit, whereby Britain leaves the EU with no
agreement. This could happen on March 29 when the Article 50 exit process
expires, which would be hugely disruptive in the short term.
the “Yellow Vest” protests have been held for weeks since Nov. 17 when people
rallied downtown Paris wearing fluorescent-yellow roadside security jackets in
opposition to a rise in carbon tax.
nationwide pressure, the French government has decided to drop further fuel tax
hikes in 2019 and indicated that all tax-related policies would be periodically
As a result,
Insee, the national statistics body in France, lowered its estimate by two
percentage points to 1.5 percent for the 2018 French economic performance.
and consequences of the ‘Yellow Vest’ social movement remain very uncertain ...
The modalities for implementing the purchasing power support measures announced
on Dec. 10 are not yet precisely known...,” Insee said.
South Korean President Moon Jae-in and Kim Jong Un, top leader of the Democratic
People’s Republic of Korea, greeted each other with handshakes and hugs at
Panmunjom in April, kicking off the first of the three summits between the two
sides this year.
historical meeting, the two sides have taken concrete actions to defuse regional
tension and start a peace process on the Korean Peninsula.
Washington, a key stakeholder on Korean nuclear issue, has recently unilaterally
imposed sanctions on senior DPRK officials. In response, the DPRK authority said
the U.S. miscalculation could “block the path to denuclearization on the Korean
headwinds of protectionism and unilateralism, China has once again taken
concrete actions in supporting an open world economy and sharing development
China successfully hosted the first China International Import Expo, the world’s
first national-level expo devoted to imports, which recorded deals for intended
purchases of goods and services worth a total of 57.83 billion U.S. dollars,
strongly boosting confidence for global growth.
the Chinese president and premier made several overseas trips this year, sending
messages of jointly supporting multilateralism and free trade while tackling
global challenges with the international community.
Over the past
year, more partners have joined the Belt and Road construction, which has become
the most popular public good and the biggest cooperation platform in today’s
official statistics, in 2018, another 50-plus countries and international
organizations signed the cooperation documents within the Belt and Road
Initiative (BRI) framework, raising the total number of such documents to over
trade between China and the BRI partner countries has exceeded 6 trillion
dollars. The Chinese investment of more than 80 billion dollars in these
countries has created at least 240,000 local jobs.
also marks the 40th anniversary of China’s reform and opening-up. On
sessions of national conferences and international platforms through 2018, China
loudly repeated its commitment to wider opening-up and deepening reforms.
proposals for boosting global growth, like the BRI and the Asian Infrastructure
Investment Bank, have highlighted its role as a “responsible stakeholder” in the
world, said Stephen A. Orlins, president of the U.S. National Committee on
these initiatives are “basically complementary to the existing world system,”
namely the World Bank, the Asian Development Bank and the WTO, among others, he
“stepping up onto the stage for global governance,” it is also making great
contributions to global peace and development, Orlins said.
reporter Yang Shilong in New York contributed to this story.)