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China’s Xi warns West against economic ‘decoupling’

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China's President Xi Jinping speaks during the opening ceremony of the third Belt and Road Forum in Beijing on October 18, 2023 (pic Aljazeera)

Chinese President Xi Jinping has warned Western states against “decoupling” from his country’s economy, insisting amid declining foreign investment that China’s development should be viewed as not a threat but an asset.

Xi’s caution came as he opened the Belt and Road Initiative (BRI) forum in Beijing on Wednesday. He also used his speech to laud the scheme, which was launched 10 years ago with the professed aim of building infrastructure and energy networks to link Asia, Africa and Europe.

“We stand against unilateral sanctions, economic coercion, decoupling, and supply chain disruption,” Xi said, hitting back at perceived Western efforts to hamper China’s growth.

“Viewing others’ development as a threat or taking economic interdependence as a risk will not make one’s own life better or speed up one’s development,” he added. “China can only do well when the world is doing well… When China does well, the world will get even better.”

As part of China’s efforts to attract more foreign investment, one measure of which hit a 25 year  low earlier this year, Xi also pledged to ease investment restrictions and facilitate better trade ties.  “We will comprehensively remove restrictions on foreign investment access in the manufacturing sector,” while opening up “cross-border trade and investment in services and expand market access for digital products,” Xi said.

He added that China plans reforms for state-owned companies, as well as the digital economy, intellectual property rights, and government procurement.

At the same time, China will continue to pour billions of dollars into the economies of developing countries as it builds on the BRI, the Chinese president pledged.

Leaders and representatives of over 130 countries are attending the forum, which celebrates the 10-year anniversary of Xi’s ambitious scheme, which he has called the “project of the century.”

Prominent guests include Russian President Vladimir Putin, Indonesian President Joko Widodo, Serbian President Aleksandar Vucic, Egyptian Prime Minister Mostafa Madbouly, and Pakistani Prime Minister Anwaar-ul-Haq Kakar.

Xi met with Putin, whom he calls a “dear friend,” before the forum, and reaffirmed their strong partnership.

“The political mutual trust between the two countries is continuously deepening,” Xi said, according to the state news agency Xinhua, hailing their “close and effective strategic coordination”.

European leaders largely stayed away from the event, with Hungary’s nationalist-populist Prime Minister Viktor Orban the sole European Union head of state in attendance.

Western leaders have come to view China’s BRI with suspicion seeing it as a tool to amplify Beijing’s global influence and reach. Many Western countries are seeking to diversify supply chains to reduce reliance on China, which is the world’s second-largest economy.

Going forward, Xi said the Belt and Road Initiative would move towards addressing issues of artificial intelligence and climate change, including through intensified cooperation in “green infrastructure, energy, and transportation”.

The Chinese president added that the BRI has put it on the right side of history, according to China’s Xinhua state news agency. “It represents the advancing of our times, and it is the right path forward.”

(Aljazeera)



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We are working to stabilize and restructure an economy that was in disarray -President

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The National New Paddy Harvesting Festival (Aluth Sahal Mangalya), a traditional annual ceremony of offering the first portion of the freshly harvested Maha season paddy to the sacred Sri Maha Bodhi, was held this morning (04) under the patronage of President Anura Kumara Disanayake at the historic Sri Maha Bodhi premises in Anuradhapura.

The ceremony was organized by the Ministry of Agriculture and the Department of Agrarian Services under the theme “In unison, let us cultivate the land, to build a self-sufficient nation” (අහරින් ස්වයංපෝෂිත දැයක් තනන්නට එක මිටට ගොවි බිමට), following the guidance of the Atamasthanadhipathi, the most Venerable Pallegama Hemarathana Nayaka Thera.

This ritual, which dates back to the era of ancient monarchs, saw the participation of farmers from across the country. In accordance with tradition, they prayed for timely rains and fertile fields and invoked blessings for a self-sufficient and prosperous economy through agriculture.

President Anura Kumara Disanayake first paid homage and received blessings from the sacred Jaya Sri Maha Bodhi before joining the ceremonial proceedings.

The sacred procession, which carried the newly harvested paddy from near the historic Sinha Kanuwa in Anuradhapura, arrived at the sandy courtyard (වැලි මලුව) of the Sri Maha Bodhi, marking the ceremonial commencement of the New Paddy Harvest Festival.

The Most Venerable Pallegama Hemarathana Nayaka Thera commenced the ritual by filling the golden bowl with the new paddy, after which representatives from all provinces added paddy from their respective regions, symbolically filling the golden bowl.
President Anura Kumara Disanayake also participated in this ritualistic moment, amidst the chanting of Pirith by the Maha Sangha.

A vessel of pure bee honey, traditionally offered to the Sri Maha Bodhi, was ceremonially presented to the President by Deputy Leader of the Vedda Community U.W.  Bandiyala Eththo.

The vessel of ghee, brought from the historic Saman Devalaya in Sabaragamuwa, was also presented to President Anura Kumara Disanayake, to be used in the customary ghee offering at the Sri Maha Bodhi.

The President also received the commemorative plaque of the National New Paddy Harvest Festival and presented tokens of appreciation to farmer leaders who have made significant contributions to the development of the country’s agriculture sector.

As part of the initiative to secure a pest-free harvest, the President participated in the distribution of pest-resistant seed paddy to farming communities across the provinces.

Addressing the subsequent official ceremony, President Anura Kumara Disanayake stated that the current government is working to transform an economy that was in disarray. He noted that the Paddy Marketing Board is burdened with a debt of Rs. 28 billion, while harvested paddy is being left to spoil in storage.

The President emphasized that the current administration has accepted the responsibility of restoring and restructuring this disorderly system. He added that the government expects the support not only of the state machinery related to agriculture but also of all farming communities. He affirmed the intention to integrate Sri Lanka’s cultural and traditional systems to reclaim the legacy of the agricultural economy and thereby strengthen the national economy.

President Disanayake further stated that the country’s ancient kings achieved greatness through their contributions to agriculture and irrigation and that self-sufficiency in food was a critical factor in that success.

He highlighted that sustainable development has become a global discourse today and that Sri Lanka’s “Tank Cascade System” or “Vapi System,” stands as a remarkable example of sustainable development. The country’s irrigation system, which dates back nearly 2,000 years, continues to contribute to the advancement of agriculture even today.

As such, the government has allocated Rs. 2 billion in the current budget to rehabilitate the irrigation system and renovation work on the North Central Maha Ela Project has already commenced to revitalize the country’s agricultural industry. He added that the government also plans to develop seed farms to produce self-sufficient seeds, while protecting genetic ownership.

He further emphasized the need for fair prices for agricultural produce, both for farmers and consumers. Due to long-standing market distortions, the government will intervene over the next two to three harvesting seasons to ensure both parties receive fair prices.

The President also stated that the necessary provisions for such state interventions have been made in the current budget. Steps have been taken to create storage capacity to hold 300,000 metric tons of paddy, which is expected to mitigate market distortions going forward.

Among those present at the occasion were the Chief Incumbent of the Ruwanweliseya and Chancellor of the Rajarata University, Most Venerable Ithalawetunuwewe Gnanatillake Thera, the Chief Incumbent of the Lankaramaya, Most Venerable Ralapanawa Dhammajothi Thera and members of the clergy; Minister of Agriculture, Livestock, Lands and Irrigation K.D. Lalkantha; Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe; Governor of the North Central Province Wasantha Kumara Wimalasiri; and Deputy Minister of Agriculture and Livestock Namal Karunaratne, along with a large number of farmer leaders and other dignitaries.

  1. (PMD)
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Indian PM Modi arrives in Sri Lanka on a three day state visit

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(File pic)

Prime Minister of India Narendra Modi arrived in the island a short while ago on a  three-day state visit.

The Indian Prime Minister was received at the Katunayake International Airport by Sri Lanka’s Minister of Foreign Affairs Vijitha Herath.

PM Modi is accompanied by Minister of External Affairs S. Jaishankar, Indian National Security Advisor Ajit Doval, Indian Foreign Secretary and several senior officials of the Government of India.

 

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Special Train Services during Sinhala and Tamil New Year

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The General Manager of Railways has announced that the following special train services will operate during the Sinhala and Tamil New Year period.

1. From Colombo Fort to Badulla – departing Colombo Fort at 1930 hrs on 11th, 12th, 19th and 20th April

2. From Badulla to Colombo Fort – departing Badulla at 1750 hrs on 11th, 12th, 19th and 20th April

3. From Galle to Anuradhapura – departing Galle at 0400 hrs on 12th and 13th April

4. From Anuradhapura to Galle – departing Anuradhapura at 1500  hrs on 12th and 13th April

5. From Colombo Fort to Galle – departing Colombo Fort at 120 hrs on 10th, 11th, 15th and 20th April

6. From Galle to Colombo Fort – departing Galle at 0610 hrs on 11th, 12th, 16th and 21st April

7. From Colombo Fort to Galle – departing Colombo Fort at 1330 hrs on 12th and 13th April

8. From Colombo Fort to Kankasanthurai [Intercity Express] – departing Colombo Fort at 0530 hrs on 11th and 18th April

9. From Kankasanthurai to Colombo Fort [Intercity Express] – departing Kankasanthurai at 1350 hrs on 11th and 18th April

10. From Beliatta to Colombo Fort – departing Beliatta at 0825 hrs on 12th, 13th, 18th, 19th and 20th April

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