Day: June 29, 2024

ISTANBUL: China’s President Xi Jinping Friday reiterated his call for an ‘equal and orderly’ multipolar world.

‘We need to uphold the principle of sovereign equality,’ Xi told a conference in Beijing to mark 70 years of “five principles of peaceful coexistence.”

Emphasizing the promotion of equal rights, opportunities, and norms for every country, Xi said these five principles ‘reject the big subduing the small, the strong bullying the weak, and the rich exploiting the poor.’

‘An equal and orderly multipolar world means every country can find its place in a multipolar system and play its due role pursuant to international law, so that the process of multipolarization is stable and constructive on the whole,’ said the Chinese leader, according to an official transcript of his speech.

China bases its foreign policy on these five principles of mutual respect for sovereignty and territorial integrity, mutual nonaggression, non-interference in each other’s internal affairs, equality and mutual benefit, and pea
ceful coexistence.

This policy was put forward by former Chinese Premier Zhou Enlai at a time when China was engaged in border discussions with India in the 1950s.

Calling for the need to cement the foundation of mutual respect, Xi said: ‘China’s resolve to stay on the path of peaceful development will not change.’

‘We will never take the trodden path of colonial plundering, or the wrong path of seeking hegemony when one becomes strong,’ he stressed.

‘Countries must make equality, mutual respect, and mutual trust the ground rules of engagement,’ Xi said, emphasizing the ‘golden rule’ of non-interference.

He said the nations need to ‘turn the vision for peace and security into reality.’

‘At this historic moment when mankind have to choose between peace and war, prosperity and recession, unity and confrontation, we must champion more than ever the essence of the five principles of peaceful coexistence,’ said the Chinese leader.

As China’s Communist Party is set to hold its policy-making convention next m
onth, Xi said: “We are planning to take, and in some cases already taking, major steps to further deepen reform across the board and expand institutional opening up.”

“We will build a business environment that is more solidly based on market and rule of law and is up to international standards,” he said, criticizing “small yard with high fences,” decoupling, and severing industrial and supply chains.

Addressing Global South, Xi said these nations should ‘be more open and more inclusive’ and ‘together, we should be the staunch force for peace.”

Xi also announced several measures to support China’s cooperation with these nations, including establishing a Global South research center, scholarships, and training opportunities, as well as launching a youth leaders’ program.

Source: Philippines News Agency

SEOUL: North Korea has convened a plenary meeting of the ruling Workers’ Party of Korea (WPK), attended by its leader Kim Jong-un, state media reported Saturday, amid expectations that it would discuss follow-up measures to implement a new partnership treaty with Russia.

North Korea held the 10th enlarged plenary meeting of the WPK’s 8th Central Committee on Friday to review state policy performances in the first half, according to the Korean Central News Agency (KCNA).

The meeting is also to “discuss and decide a series of important immediate issues arising in maintaining the upturn in the comprehensive development of Korean-style socialism,” the KCNA said.

The report said five agenda items were approved by all members of the WPK Central Committee, and discussions on them are underway, without disclosing other details.

North Korea usually holds a party plenary meeting for a few days in June. But this year’s meeting has drawn more attention due to the possibility that it could discuss detailed measures to
expand cooperation with Russia following its signing with Moscow of a comprehensive strategic partnership treaty.

The North’s leader Kim and Russian President Vladimir Putin held a summit in Pyongyang on June 19, and clinched the treaty that calls for providing military assistance to each other without delay if either side comes under an armed attack.

Article 4 of the 23-point treaty could be seen as warranting automatic military intervention in the event of aggression against either country. That would amount to the restoration of a Cold War-era alliance for the first time in 28 years.

Source: Yonhap News Agency

MANILA: The World Bank’s (WB) Board of Executive Directors on Friday (US time) approved funding support for two government projects designed to help ensure safe and resilient schools, as well strengthen economic recovery in the Philippines.

In a news release, the WB said it has approved EUR466.07 million (USD500 million) for the ‘Infrastructure for Safer and Resilient Schools Project’ designed to support the resilient recovery of disaster-affected schools in selected regions of the country.

Resilient recovery means improving schools’ abilities to continue its functions after being hit by natural disasters.

‘Education is a key component of human capital. By improving the learning environment and making schools safer, children are more likely to attend classes, perform better academically, and complete their education, Ndiamé Diop, World Bank Country Director for Brunei, Malaysia, the Philippines, and Thailand, said.

The project will finance the repair, rehabilitation, retrofitting, reconstruction and site
improvements of schools that were severely affected by earthquakes and tropical cyclones in recent years.

The interventions will enhance physical learning environments for over 700,000 students, with girls making up half of the beneficiaries.

‘By strengthening the resilience of educational facilities, disruptions to learning caused by natural disasters can be minimized, ensuring that children can continue their education with fewer interruptions,’ Fernando Ramirez Cortes, World Bank Senior Disaster Risk Management Specialist, said.

The project will prioritize areas where school infrastructure damage and risk are greatest, including the Cordillera Administrative Region, Caraga, Central Luzon, Bicol Region, Western Visayas, Central Visayas, Eastern Visayas, Davao Region and Soccsksargen.

The project will also support the improvement of the Department of Education’s (DepEd) operations and maintenance manual and tools, ensuring that both central and local level education authorities have up-to-date protocols
and information for operating and maintaining restored school infrastructure.

This will enable effective management and maintenance of the infrastructure following disasters.

The World Bank also approved the EUR 699.105 million (USD 750 million) ‘Philippines Second Sustainable Recovery Development Policy Loan’ to support reforms that increase investment in public service sectors, attract private investment in public infrastructure, particularly in domestic shipping, promote renewable energy, protect the environment, and improve climate resilience.

‘The Philippine economy remains resilient in the face of ongoing global and domestic challenges. The reforms supported by this lending program, if implemented, will encourage private investment, innovation, and sustained growth,’ said Ralph Van Doorn, World Bank Senior Economist. ‘Through these reforms, the Philippines can transition faster to a greener economy and achieve its environmental and climate objectives.’

Given the Philippines’ archipelagic nature, mar
ine transport is critical for trade and connecting its numerous islands and destinations, enabling efficient movement of goods and products.

Van Doorn said that attracting more local and foreign investments in domestic shipping can boost the country’s competitiveness.

The lending program also supports reforms that aim to enhance plastic waste reduction, recovery, and recycling; promote green transportation; and encourage the production and consumption of environment friendly goods and services through public procurement.

Source: Philippines News Agency