integration－trade, investment and finance－began benefiting large emerging and developing econ
omies. To be sustainable, globalization cannot serve just a few wealthy advanced economies. It m
ust also serve poorer and faster-growing economies, which today account for most of the global growth.
So, by flirting with trade protectionism and punitive tariffs on imports, adva
nced economies are seeking to implement the wrong policies at the wrong time. As the adv
anced countries have fallen into secular stagnation, they desperately need growth. Therefore, the rise of poorer eco
nomies is not a win-lose game, because it benefits the advanced economies, too.
In the aftermath of the 2008 global financial crisis, all major advanced econom
ies would have faced another Great Depression without the support of large emerging economies, particularly Ch
ina. And the contribution of these countries to global GDP growth is expected to climb to 80 percent by 2050.
Hainan provincial health authorities have revoked Boao Yinfeng Healthcare International H
ospital’s business license, for illegally administering HPV 9-valent vaccines, according to a statement Sunday.
Located in the Boao Lecheng International Medical Tourism Pilot Zone, the hospit
al has since January last year vaccinated 37 customers with HPV 9-valent, charging each 9,000 yuan.
They did so without obtaining an official vaccination outpatient license, said the statement.
It said the local health commission of Qionghai, where the Boao pilot zone is loc
ated, on April 18 issued the hospital a notice of penalties, including a warning, confiscati
on of illegal income, a fine of 8,000 yuan, and a revocation of its business license as a medical institution.
ancing needs, sustainable development and debt sustainability, according to Finance Minister Liu Kun.
“We will build a high-standard and high-quality financing system to s
upport long-term and sustainable BRI investment while preventing debt risks,” Liu said.
He suggested promoting financing cooperation for projects in
third-party countries, equity investment and attracting more private funding.
Enhancing debt and risk management is a key consideration for deepening BRI financi
ng cooperation, said Yi Gang, governor of the People’s Bank of China, the central bank.
“The debt issue in developing countries should be treated objective
ly. If debt growth is accompanied by infrastructure improvement, enhancement of people’s liveliho
ods and productivity and poverty reduction, it will be beneficial for the sustainability of long-term debt,” Yi said.
tivity of infrastructure, unimpeded trade, financial integration and closer people-to-people ties as its main goals, has advanced in solid steps, the report said.
“Significant progress has been made, including a number of landmark early results. Participating countries have obtai
ned tangible benefits, and their appreciation of and participation in the initiative is growing,” according to the report.
With a view to building a global community of shared future, the BRI uphold
s the principles of extensive consultation, joint contribution, and shared benefits, the report said.
“Through the initiative China has made a constructive contribution to the reform of th
e current global governance system and to economic globalization,” according to the report.
The report said China would face many problems and challenges in pursuing the BRI in
the future as well as unprecedented opportunities and prospects for development.
nternational relations scholars of his generation think of the US
as an example of the value of “freedom, democracy, fairness and human rights”.
“But those words are no longer applicable to describe the US today,” he said.
ore than a short-term absence from US academic activities, and “it is the US’ loss, not ours”.
He also said the decision would not affect the Chinese think tank he leads in continuing aca
demic exchanges with the US, and he suggests that China should not take countermeasures over such matters.
“No matter how petty the US becomes, China should still stick to its open attitude rather compete for who’s worse,” he said.
The China-proposed Belt and Road Initiative is not a geopolitical tool or a debt trap for particip
ating countries, but a platform for cooperation, State Councilor and Foreign Minister Wang Yi said on Friday.
Wang made the remark at a press conference ahead of the second Belt and Road F
orum on International Cooperation, which will be held in Beijing next week.