China to continue role as biggest engine of world economic growth: Xi
Dec 10, 2024
59:45
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Quick takeaways
President Xi emphasizes China's commitment to being the world's largest economic growth engine through multilateralism and support for developing nations.
The introduction of China's first easing of monetary policy in 14 years aims to stimulate economic recovery amid global trade tensions.
The South Korean Parliament's resolution for President Yoon's arrest signals a significant political crisis, reflecting dissatisfaction with his governance.
Deep dives
China's Economic Commitment
Chinese President Xi Jinping emphasizes China's role as the largest engine of global economic growth during discussions with leaders from major international economic organizations. He expresses a commitment to multilateralism, international cooperation, and support for developing nations, especially those in the Global South. President Xi's assurance of achieving economic targets reflects China's confidence in its economic policies despite global challenges, including ongoing trade tensions with the U.S. He calls for a stable and healthy bilateral relationship with the U.S., urging dialogue and cooperation to resolve differences.
China's Monetary Policy Shift
China plans to implement its first easing of monetary policy in 14 years, signaling a proactive approach to stimulate economic growth. The move comes alongside a broader fiscal policy aimed at supporting local consumption and enhancing market confidence. This strategy involves significant liquidity injections into the economy, which have already resulted in a notable increase in loans issued by financial institutions. Experts note that this shift is vital for combating slow economic recovery amidst global trade tensions and domestic challenges.
International Cooperation and Development Initiatives
A workshop in Beijing highlights China's Global Development Initiative, which aims to advance global governance and economic cooperation through innovative strategies. High-level diplomats from the United Nations are participating to understand and promote this initiative's role in achieving sustainable development goals. The Global South is encouraged to strengthen coordination and push for greater collaboration in areas like technology and industrial growth. This forward-thinking approach seeks not only to assist developing nations but also to revitalize partnerships on an international level.
Escalation of Military Operations in Syria
Israel's military has significantly increased operations in Syria, launching over 100 airstrikes targeting military installations following the fall of President Bashar al-Assad's government. Israeli authorities, citing security concerns, are expanding their operations to mitigate threats from newly empowered Syrian rebel forces and other groups. The international community, including neighboring countries, has condemned Israel's actions as violations of Syria's sovereignty. Discussions among rebel leaders are underway to establish a transitional government to fill the power vacuum left by Assad's regime.
Political Turmoil in South Korea
The South Korean Parliament passes a resolution calling for the immediate arrest of President Yoon Suk-yeol on charges of insurrection and abuse of power, signaling a severe political crisis. This resolution follows investigations into a recent controversial declaration of martial law. Lawmakers are also seeking to prevent key government figures from fleeing the country as tensions escalate. The situation reflects increasing dissatisfaction with President Yoon's governance and raises concerns about the stability of the current administration.
The Chinese president says the country will continue to play its role as the biggest engine of world economic growth(01:04). Israel expands its military operation in Syria following the fall of Bashar al-Assad’s government, sparking condemnation from many other countries(12:59). The South Korean parliament passes a resolution to immediately arrest President Yoon Suk-yeol(24:38).
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