The original London West End musical The Last Five Years is being staged at the Beijing Tianqiao Art Center from Wednesday to Friday. This is the first round of performances for the show in the "performing arts capital" Beijing.
The musical is adapted from the personal experiences of composer Jason Robert Brown, who has won the "Tony Award" three times.
After its premiere, The Last Five Years debuted off-Broadway in 2002 and in London's West End in 2006. Countless audiences have cried because of this work, and even fell in love with musicals because of it.
The show interweaves more than 10 songs to tell the story of the five years of the protagonists' love, marriage, indifference and divorce, showing their joys and sorrows.
Unlike many large-scale musicals with complex stage designs, The Last Five Years is very streamlined, consisting of only two actors and a band of five musicians.
The two actors have to perform non-stop on a rotating stage for nearly 100 minutes, not only perfectly presenting their own singing and playing, but also accompanying each other on the piano while singing and acting, which is a true test of their performance skills.
Authorities in India's southern state of Kerala have heightened surveillance measures to contain the spread of Nipah infections, officials said on Saturday.
The measures have been stepped up in Kozhikode district, where so far six cases have been identified. Of them, four are active while the remaining two died.
The state-run broadcaster All India Radio (AIR) said that so far 1,080 people have been included in the contact list of Nipah-infected patients in Kozhikode, of which 297 people are in the high-risk category.
"Those in the contact list are kept in isolation and their body fluids have been sent for testing," the broadcaster quoted officials as having said.
According to AIR, health workers covered more than 15,000 houses in Kozhikode so far, as part of their field survey.
Reports said after a resident in Cheruvannur tested positive for Nipah on Friday, local administration declared the five-kilometer area around the residence as a containment zone. A strict perimeter control has been imposed in several localities falling under Kozhikode Municipal Corporation. The officials have put up barricades to limit access to these areas.
The district administration in Kozhikode has directed all educational institutions to hold classes online for the students till Sept. 24.
Meanwhile, the Director-General of India's top health research body - Indian Council of Medical Research (ICMR), Rajiv Bahl, on Friday said they have reached out to Australia to procure 20 more doses of monoclonal antibodies for the treatment of Nipah virus infection.
"We got some doses of monoclonal antibody from Australia in 2018. Currently, the doses are available for only 10 patients," Bahl said, adding globally monoclonal antibody has been given to 14 patients infected with Nipah virus outside India and all of them have survived.
According to Bahl, no one so far has been administered the medicine in India.
"Twenty more doses are being procured. But the medicine needs to be given during the early stage of the infection," he said. "It can only be given as compassionate use medicine."
Bahl said teams from ICMR's National Institute of Virology (ICMR-NIV) and National Institute of Epidemiology (ICMR-NIE) have been deployed on the ground and are working with authorities in Kerala to strengthen containment efforts.
He also advised that people take certain precautionary measures against Nipah, including handwashing, avoiding contact with body fluids of infected or suspected cases, avoiding areas where bats are known to roost and contact with bats and avoiding consumption of raw foods that may be contaminated by bats, such as raw date palm sap or raw fruits.
Kerala had first witnessed an outbreak of the Nipah virus in 2018 in Kozhikode and Malappuram districts, claiming 17 lives.
According to WHO, Nipah virus infection is a newly emerging zoonosis that causes severe disease in both animals and humans. The natural hosts of the virus are fruit bats of the Pteropodidae Family, Pteropus genus.
Typically, the human infection presents as an encephalitic syndrome marked by fever, headache, drowsiness, disorientation, mental confusion, and coma, which can potentially lead to death.
The Chinese Embassy in Israel confirmed that a Chinese worker was injured in the Israeli-Palestinian conflict on Saturday, and the embassy has issued an urgent alert to Chinese citizens in Israel to pay close attention to security.
According to the embassy, the Chinese worker was injured by a stray bullet near Ashkelon in southern Israel during Saturday's Israeli-Palestinian conflict and is currently in hospital.
The embassy issued a safety alert on Saturday, saying that Israel had been hit by rocket attacks and armed assaults in multiple areas on the morning of that day, resulting in significant casualties. Hence, the embassy reminded Chinese citizens in Israel to closely monitor the local security situation and follow security measures to ensure their own safety.
The alert also stated that according to the Israeli tourism department's reminder, all types of tourism activities within Israel had been immediately suspended, and foreign tourists who were already in the country were told to stay in their hotel rooms and avoid going out.
Accordingly, the embassy emphasized that Chinese citizens must pay attention to and comply with relevant safety guidelines, especially familiarizing themselves with the locations and distribution of bomb shelters, and in the event of an air raid alarm, they should evacuate to the bomb shelters immediately.
Palestinian Islamist group Hamas launched the biggest attack on Israel in years on Saturday, combined gunmen crossing into Israel with a barrage of rockets fired from Gaza, with Israel's Prime Minister Benjamin Netanyahu declaring that the country was "at war," according to media reports.
At least 40 people have been killed and over 700 injured, with the death toll expected to rise, the Times of Israel reported, while the Palestinian health officials said that 198 have died and at least 1,610 people had been injured in the strikes.
Cohen Roni, an Israeli citizen, told the Global Times on Saturday that she had never experienced such a large-scale conflict.
"I woke up in the morning to the sound of alarms and rockets. The entire country was in chaos, and my hands trembled with fear while my heart raced. Currently, citizens are all confined to their homes, not leaving under any circumstances. This is extremely dangerous, as if I were to leave my house, I could potentially be kidnapped or killed," Roni said.
Although the scale of this conflict is relatively unusual, some Chinese experts believe that fundamentally it remains a conflict between Israel and Palestine, and will not escalate into a war between Israel and the surrounding Arab countries.
This kind of conflicts have occurred in the past, mostly between Israel and Palestine's hawkish militias groups like Hamas, rather than a total war between the two countries, and normally Israel retaliated by intensifying its strikes on Hamas and the Gaza Strip to make Palestinians pay more bloodsheds, Ma Xiaolin, senior professor and dean of the Institute for Studies on the Mediterranean Rim at Zhejiang International Studies University, told the Global Times on Saturday.
Following the strikes, countries that have established diplomatic relations with the Middle East and Israel expressed varying degrees of protest and condemnation, leading to temporary appeasement, Ma added.
Currently, some major Arab or Islamic countries, such as Saudi Arabia, Turkey and Oman are calling for both sides to exercise restraint, Ma said. "This indicates the delicate stance of these countries towards the Israeli-Palestinian issue, as they don't wish to be deeply involved," the expert noted.
The "Out of Africa - Celebrating the Beijing Swifts" seminar was successfully held on Monday evening in the Belgian Residence in Beijing, coinciding with the World Migratory Bird Day to promote the conservation of migratory birds such as the Beijing Swifts and their habitats.
Ambassador of Belgium to China H.E. Bruno Angelet, deputy director-general of the Beijing Municipal Forestry and Parks Bureau Wang Xiaoping, deputy director of the Wildlife and Wetland Protection Division Ji Jianwei, Beijing Normal University professor Zhao Xinru, professor of Ornithology at the Sun Yat-sen University, Liu Yang and Beijing-based wildlife conservationist Terry Townshend, and several ambassadors attended the event.
Ambassador Angelet, the host of the event delivered a speech. He declared a love for birds, especially the Swifts as they are intelligent, social, gentle and free, adding that he was also a birdwatcher in Belgium and after arriving in Beijing in August, he was pleasantly surprised at the great variety of birds in the city, including sparrows, which have almost disappeared in Belgium, but can be found everywhere in Beijing.
"I was so excited to discover that European and Chinese scientists have studied specific aspects of their journey. Through this study, we have discovered that the Swifts which nest in Beijing also come every spring from Africa, mostly from Namibia, Botswana, and South Africa," he told the Global Times.
Ambassador Angelet also expressed his hope that embassies and their Chinese counterparts will join forces to improve bilateral international scientific cooperation.
Professor Zhao and Professor Liu, two of the best-known Chinese scientists who have been studying the bird species shared the results of the citizen science surveys to count the Swifts in Beijing to help understand the bird's population trends.
The Beijing Swift, as a migratory bird named after "Beijing," is a landmark species and one of the ecological symbols of Beijing. It spends three months a year in Beijing to breed before undertaking an incredible migration to southern Africa in mid-July for the northern hemisphere winter, professor Zhao said at the event.
From October 26 to 28, the British Council participated in the 24th China Annual Conference for International Education and Expo (CACIE 2023) as a CACIE Honorary Partner, and hosted two sub-forums on higher education: "From Study to Work: Global Talent Mobility and Development" and "English Teaching and Assessment to Enhance International Understanding Education in Secondary Schools."
The former focused on the current trends and challenges of talent cultivation and mobility in the context of international education, while the latter addressed the hot topic of international understanding education in the K12 sector.
"Through the two forums, we shared our insights on the mobility and development of Chinese students abroad, and introduced our comprehensive assessment solutions and ecosystem value chain from study to work, represented by the British Council's IELTS test. We were also honored to invite our partners, top universities and enterprises from home and abroad, to share their best practices and explore how to better support the lifelong growth and development of international education in China," said You Zhuoran, director of examinations at the British Council China.
On July 4, the International Atomic Energy Agency (IAEA) published a report announcing that Japan's dumping plan meets the IAEA's safety standards.
Several days after the report was released, doubts are mounting. It also sparked a strong backlash in countries that will be impacted by the scheduled dumping.
Several sources and industry experts involved in the project revealed to the Global Times Japan's intent to create "reasonableness" for the plan to be well received. In their view, despite Japan's calculated efforts to create a narrative of harmlessness around its intended plan, the risks associated with the dumping of nuclear-contaminated wastewater from Fukushima are real. From the perspective of the interests of all humankind, there should have been better options considered, but Japan has disregarded them and chosen the most favorable approach for itself.
Unproven safety
As an independent intergovernmental organization within the United Nations system, the conclusions reached by the IAEA are often seen as inherently authoritative. The Japanese government also intends to use the IAEA's report to legitimize Japan's dumping of nuclear-contaminated wastewater into the ocean.
However, as stated by Chinese Foreign Ministry Spokesperson Wang Wenbin, the agency's report cannot serve as a "shield" or "green light" for Japan's dumping plan. Several industry insiders and experts expressed the same view in recent interviews with the Global Times, saying that the conclusions of the IAEA assessment report cannot provide a stamp of approval for the safety of the plan.
Regarding the released report by the IAEA, the China Atomic Energy Authority (CAEA) and the Ministry of Ecology and Environment have recently raised questions about its content. They believe that there are many issues concerning the legitimacy of Japan's ocean discharge, the reliability of the purification system, and the completeness of the monitoring plan.
Deng Ge, secretary general of the CAEA, noted that according to the IAEA report, the Advanced Liquid Processing System (ALPS) method used by Japan cannot remove all radioactive nuclides from the nuclear-contaminated wastewater. Based on previous operation results, it has been proven that ALPS method is ineffective in removing radioactive nuclides such as tritium and carbon-14. The effectiveness of ALPS in removing other radioactive nuclides also requires further testing and verification through experiments and engineering.
According to data released by Japan itself, over 70 percent of the wastewater treated by ALPS does not meet discharge standards and requires further purification. During long-term operation, the performance and reliability of ALPS will further deteriorate due to equipment corrosion and aging. But Japan has not demonstrated the long-term effectiveness and reliability of the water purification system.
An insider familiar with Japan's dumping plan revealed to the Global Times that the current plan and assessment in Japan are based on the assumption that the treated wastewater will meet the standards. Unfortunately, according to data previously released by the Tokyo Electric Power Company (TEPCO), the operator of the Fukushima plant, even after treatment through ALPS, about 70 percent of the treated contaminated wastewater does not meet the set standards, with 18 percent exceeding the standards by 10 to 20,000 times. Additionally, the frequent malfunctions and component damage of ALPS raise doubts about its capability to treat the nuclear-contaminated wastewater.
The insider further stated that it is uncertain whether the situation would improve if the water undergoes a second round of ALPS treatment. The plan provided by TEPCO does not explain how to ensure that the treated wastewater will meet the discharge requirements, nor does it include an analysis of the impacts of the discharge.
Publicly available data showed that TEPCO only retreated 0.25 percent of the nuclear-contaminated wastewater, without disclosing the time required for the second treatment or explaining the plan for the second treatment.
The accuracy and reliability of the data released by Japan on the contaminated wastewater have also been questioned by numerous parties. Deng stated that TEPCO has repeatedly concealed and tampered with data on the nuclear-contaminated wastewater. Japan unilaterally approved the dumping plan and accelerated its implementation, putting pressure on the IAEA's review and assessment through various means.
The IAEA conducted its review and assessment based solely on the data and information provided by Japan, with only a limited number of samples of the nuclear-contaminated wastewater collected unilaterally by Japan for laboratory comparison and analysis. The authenticity and accuracy of the data are yet to be verified, and the sampling independence and representativeness are severely lacking. Therefore, even if the IAEA's review and assessment conclude that the discharge complies with international safety standards, it lacks sufficient persuasiveness, according to Deng.
Regarding sampling and monitoring, TEPCO initially only sampled and monitored nine nuclides other than tritium in the contaminated wastewater, which was later adjusted to 29 nuclides in 2023. However, considering the complex composition of the contaminated wastewater from Fukushima with its high salt content and various impurities, this is still far from sufficient, according to the insider.
"TEPCO's actions have introduced significant uncertainties in the source information of the nuclear-contaminated wastewater, thereby greatly increasing the difficulty of formulating subsequent monitoring plans and assessing the impact on the marine ecosystem," said the insider.
Even if the assessment report by the IAEA concludes that Japan's plan to dump nuclear-contaminated wastewater meets international safety standards, risks still remain.
Wei Fangxin, a researcher at the Center for Nuclear and Radiation Safety at the Ministry of Ecology and Environment, told the Global Times that the radiation safety standards established by the IAEA set the public dose limit at 1 milliSievert per year. However, even if the dose is below 1 milliSievert, there are still risks of radiation exposure.
"It's like a highway speed limit of 100 kilometers per hour. It doesn't mean that driving below 100 kilometers per hour is absolutely safe," the expert said.
Wei also pointed out that there are many nuclides in the contaminated wastewater from the Fukushima nuclear power plant, making its treatment challenging. Each treatment technology has limitations and can only handle specific types of nuclides, while other nuclides or impurities can affect the performance of the treatment equipment.
Over time, the performance of the treatment system deteriorates, and the treated water may have excessive levels of radioactivity, he said.
"In the long run, the people in neighboring countries and regions to Japan will undoubtedly be adversely affected by the dumping of the nuclear-contaminated wastewater. Regardless of how small the radioactivity of the contaminated wastewater may be, it still poses certain risks." Wei noted.
Mounting doubts
As early as on July 4, Mao Ning, Chinese foreign ministry spokesperson, said that the report would "not prove the discharge is legitimate and justified and exempt the Japanese side from its due responsibilities and obligations under international law."
Liu Senlin, an expert with the China Institute of Atomic Energy, who participated in the IAEA's technical working group for the assessment, told the Global Times that the report, released in the name of the IAEA director general, was released without sufficient consultation with the experts in the technical working group.
He believes that the report released by the IAEA does not represent the IAEA's recognition of the legitimacy of Japan's decision to dump the treated wastewater into the ocean, nor does it represent the IAEA's approval or authorization of Japan's dump of nuclear-contaminated wastewater.
Liu mentioned that the report was released in the name of the IAEA director general Rafael Mariano Grossi. Although the IAEA Secretariat had sought opinions from the technical working group's experts on the draft report before its release, the time given to the experts was very limited, and their opinions were only for reference, with the decision on whether to adopt them being made by the IAEA Secretariat.
After receiving feedback, the IAEA Secretariat did not initiate a discussion or reach a consensus with the experts on the modification of the report or the adoption of the opinions before its hasty release, according to Liu.
Liu revealed that during the last two years of evaluation tasks, experts from various parties in the technical working group extensively and deeply discussed technical issues related to the Japanese government's responsibilities and functions in the discharge of treated contaminated wastewater, key principles and safety objectives, authorization procedures, source characterization, safety issues of the discharge system and process, evaluation of radiation environmental impact, source monitoring and environmental monitoring plans, occupational radiation protection, public consultation, and the involvement of relevant parties. "There were both consensuses and differences of opinion, and a unanimous agreement was not reached."
On the one hand, the IAEA's review and evaluation effectively raised the technical threshold and regulatory requirements for Japan's dumping of nuclear-contaminated wastewater; on the other hand, there were significant limitations, such as not addressing the international community's concerns over the legitimacy of Japan's decision to discharge, and not having sufficient discussions and arrangements for subsequent review and assessment tasks, and long-term monitoring plans.
"The IAEA plays the role of an assessor, rather than a decision-maker, in the issue of the disposal of nuclear-contaminated wastewater in Fukushima, Japan," Wei said.
"From the perspective of the IAEA, its release of the comprehensive assessment report stating that Japan's plan for discharging nuclear-contaminated wastewater 'meets international safety standards' can only be understood as the plan being feasible. However, feasibility does not imply that the plan is the optimal solution, and there are still many questions that Japan has not answered," he noted.
When Japan requested for an IAEA assessment of its disposal plans, it did not submit all feasible options for evaluation. Instead, it submitted the discharge plan that was most favorable to its interests. This assessment itself has limitations and biases, the expert said.
South Korean media revealed on June 21 that the Japanese government made a political donation of more than 1 million euros ($1.10 million) to the IAEA in order to resolve differences of opinion between the IAEA and third country experts. But it was later denied by Grossi and the Japanese government.
"From the perspective of the IAEA's assessment results, its position clearly leans more toward the Japanese government," said an anonymous expert close to the event.
Firstly, the IAEA itself is also eager to resolve the issue of Fukushima's nuclear-contaminated wastewater as soon as possible because one of its mandates is to promote the peaceful use of nuclear energy globally, he said.
The other reason is that Japan has significant influence within the IAEA. From the information available to us, there are many Japanese nationals serving in the IAEA, and this trend has continued in the last decade, according to the expert.
"The Japanese government is active in this issue and financially supports sending experts or advisors to serve in or provide services to the IAEA. From the perspective of the IAEA, enjoying free professional services is certainly welcomed. From Japan's perspective, it expands its influence and discourse power within the IAEA through this approach," he said.
Simplest way
In the implementation of the dumping plan, Japan has been unable to prove the legitimacy and legality of its decision throughout the process. This is one of the reasons why they requested an evaluation and assessment from the IAEA.
In this regard, Japan's actions have revealed a lack of long-term responsibility in addressing the issue and have instead revealed a need for a temporary rather than a long-term solution.
According to the CAEA, Japan deliberately restricted the authorization of the IAEA's technical working group, limiting review and assessment to only one disposal option, while excluding other possible alternatives. Even if the IAEA considers the discharge to be in line with international safety standards, it does not prove that it is the only or best solution for the disposal of the contaminated wastewater.
"Now, by releasing the contaminated wastewater into the open sea, it is the simplest and least burdensome approach for Japan, reducing economic costs and minimizing harm to its own territory. However, it potentially poses risks to neighboring countries, effectively transferring their own risks to others," Wei said.
A delegation from the Chinese senior care industry was invited by the Embassy of the Netherlands in Beijing, together with the Consulate General of the Netherlands in Shanghai and the Task Force Health Care to visit the Netherlands to further strengthen exchanges and cooperation in the field of senior care.
Wang Sheng from the Economic and Commercial Section of the Chinese Embassy in the Netherlands also participated in the event.
The delegation consisted of representatives of commercial companies, research institutes, and nursing and day care organizations from Beijing, Tianjin and Shanghai.
The delegation visited different types of senior care organizations in the Netherlands and had in-depth exchanges with Vilans, the national think tank for long-term care, and the University of Groningen.
The delegation also had exchanges with representatives from the Netherlands business community involved in senior care services and technology products, as well as with representatives from the scientific research and development industry in the field of senior care.
The visit of the delegation is another milestone in the fruitful partnership between China and the Netherlands in the field of senior care, through which both sides hope to explore common solutions to global challenges in areas such as aging.
The Sino-Dutch sports exchanges and reception for the Dutch delegation to the Chengdu World University Games was successfully held on July 29 to celebrate the Sino-Dutch sports relations.
The event, hosted by the Consulate General of the Netherlands in Chongqing, greeted all the student athletes from the Student Sport Netherlands attending the Games.
The guests of honor included Rob Cuppen, head of the Dutch delegation to the Chengdu World University Games, Wim Koch, deputy head of the Dutch delegation and more than 60 participants in 11 sports.
Huub Buise, Consul General of the Netherlands in Chongqing, delivered a speech at the event. Buise said that, "After working together for the last three years, we are finally witnessing the opening of the Chengdu Universiade and the competitions being held as scheduled. Everyone has put in a lot of effort in this process, including our head of delegation, official representatives, and all of you here, all working together. I am very happy to be here with all of you and wish you all the best in the competition."
Silke Jonkman, the student athlete representative from the Dutch delegation touched on the feelings and experiences of participating in the Games and expressed the delegation's expectations for Sino-Dutch sports exchanges and friendship. She said that, "I am very grateful for the welcome reception prepared for us. At the same time, we are very happy to be here in China, in Chengdu, where we ate a lot of food, saw pandas, attended the grand opening ceremony, and were deeply impressed by the friendliness, warmth, and helpfulness of the Chinese people."
Buise also stressed that Chengdu is the engine of the entire western economy in China and the world has seen its internationalization. He expressed special thanks to liaisons at the Chengdu Foreign Affairs Office for building a bridge of friendship between China and the Netherlands.
The 15th BRICS Summit will be held in Johannesburg, South Africa, from August 22 to 24, 2023. At this year's meeting, the feasibility of a common BRICS currency, the internationalization of the Chinese Yuan, the growth prospects of emerging economies such as China, and the role of the BRICS in global governance will be the focal points of discussion.
With these questions in mind, Global Times reporters Xie Wenting and Bai Yunyi (GT) recently interviewed Jim O'Neill (O'Neill), a renowned British economist and former commercial secretary to the UK Treasury, who is also known as the "father of BRICS." In 2001, O'Neill first proposed the concept of "BRICS" and predicted that the share of BRICS countries in the global economy would rise significantly, hence earning him his title. In the interview, the British economist told the Global Times that the idea of expecting the G7 to play a greater role in global governance is stupid. Despite facing geopolitical challenges, emerging economies will inevitably have a greater say in global affairs.
GT: You are widely viewed as the "father of BRICS" in China. As the 15th BRICS Summit is set to take place in South Africa, what are your expectations for the upcoming summit? How do you assess the future development of the BRICS?
O'Neill: There has been a lot of discussion about this BRICS Summit for several months. So they have allowed expectations to rise about, in particular, one thing, which is an expansion of the BRICS group into being BRICS plus.
The main issue will be how many countries will actually become members of the BRICS plus. But now it is not clear to me regarding the expansion and what are the [membership] criteria. At the summit, these questions may be addressed.
Sometimes people have said to me: Why did you create this acronym, because they [member countries] don't have anything in common. That's not true. They all have a huge number of people and a lot of challenges with infectious diseases. I think the BRICS countries should enhance cooperation in areas such as public health and climate change.
I am optimistic about the development of the BRICS because of its potential. Over the course of the nearly 40 years that I have been observing China, it usually ends up doing the right thing. Additionally, due to India's remarkable demographics, these two countries emerge as the most crucial components within the BRICS framework.
Ultimately, China's massive economic size looms prominently, being twice as large as the combined total of the others. Thus, the real determinant of aggregate growth performance resides in the trajectories of China and India.
Among the BRICS nations, Brazil, Russia, and South Africa face daunting challenges such as over-reliance on commodities. They must embark on reform initiatives.
GT: De-dollarization is currently a hot topic. How do you view the prospects of a de-dollarization in the world? How do you view the prospect of using RMB in trade settlements between the BRICS countries?
O'Neill: I do think it is the case and this discussion has been had for over 20 years. The world is too dependent on the dollar. Every country in the world has to suffer the consequences of the economic cycle. The Federal Reserve Board is grappling with monetary policy matters, which align with the Fed's responsibilities, given that its mandates pertain to domestic US policy. However, this approach may not always align with the specific domestic requirements of many emerging economies, potentially subjecting them to a cycle that doesn't suit their individual needs.
Hence, the case for having a more balanced monetary system is really quite strong. The obvious contender from the BRICS group to play a bigger role is the RMB. I think the idea of the RMB becoming a more prominent invoicing currency for trade and gaining increased status as a reserve currency within the BRICS holds significant merit. However, the realization of this notion hinges upon the willingness of Chinese policymakers, including the People's Bank of China, to make it happen.
The discussion of the internationalization of the RMB has been around for 20 years, ever since the early days of the BRICS and since China played a crucial role in bringing around the end of the Asian financial crisis in 1998. In fact, I admire the slowness in which the Chinese authorities have allowed the rise of the RMB. You want to make sure that your domestic financial markets are sufficiently developed, especially the interest rate market before you allow your currency to be traded a lot more around the world. China has to allow for the growth of the RMB financial markets based on its own domestic needs.
GT: You once argued that the G7 is a zero. You said that since its creation, the G7 has become increasingly irrelevant in a world of new emerging powers. An institution that excludes the BRICS while still including economic basket cases like Italy cannot possibly claim the legitimacy required to exercise global economic leadership. But some observers have noted that the role of the G7 in global governance is reemerging, while the influence of the BRICS and G20 is decreasing. How do you view this perspective?
O'Neill: I think it's a bit crazy. It is indeed the case that since US President Joe Biden came to power, the US has sought to elevate the role of the G7 among the so-called advanced countries. Therefore, there is greater enthusiasm among certain G7 members regarding their capabilities. They're all democracies, and they're all reasonably developed so they find it easy to meet and talk. However, the G7 faces numerous dilemmas stemming from a central issue: Their diminishing share in the global economy.
Japan and Italy have had hardly any growth for 20 years. Germany also doesn't grow very well. And the UK has hardly grown at all since the financial crisis. In fact, the G7 now is a club increasingly dominated economically by the US. Certainly, when it comes to global issues - be it global economic challenges, climate change, infectious diseases, or any other truly global concern - it is impossible for the G7 to effectively address these matters.
I am very disappointed that the G7 has developed this idea that it has resurrected itself, because it is stupid. What we need to do is to renew efforts to make the G20, which was a fantastic creation of the financial crisis because it has the BRICS and all the G7 in it to be the center of global policy-making again.
GT: Given the current geopolitical challenges, do you maintain your optimism that future organizations like the G20 will incorporate a greater representation of emerging economies and play a more influential role in global governance?
O'Neill: I am more optimistic because I think it's inevitable. If you look at the history of the world over the long term, usually the most important countries are the ones that have the biggest say about global affairs. I am from the UK, and in the century prior to the last 100 years, the UK held the most dominant influence in global affairs, a reflection of Britain's economic history. This shifted when the US grew significantly larger.
As more emerging economies become bigger and bigger, it seems inevitable that they will have a bigger say in global affairs, despite some of the geopolitical challenges that go with it.
GT: Do you believe that emerging economies have the potential to remain substantial drivers of the global economy, both now and in the future?
O'Neill: Yes is the answer. Currently, China holds the position of the world's second-largest economy in nominal terms and the largest in PPP (Purchasing Power Parity) terms. Over the next few years, India is poised to challenge Germany for the fourth-largest spot, having already surpassed France and the UK. The combined growth trajectories of China and India exert the most significant impact on global GDP.
Several other emerging economies, notably Indonesia and Vietnam, are also gaining prominence in Asia. In Latin America, Mexico, and in Africa, though from a significantly lower starting point, countries such as Nigeria, Ethiopia, and Egypt are steadily gaining importance in the global economy. However, among the five BRICS countries, three have not demonstrated strong economic performance for over a decade. I am skeptical that their fortunes will change unless they embark on substantial economic reforms aimed at diminishing their reliance on volatile commodity prices.
GT: What is your perspective on the role that China plays in the advancement of global economic growth?
O'Neill: As China is having grown so rapidly and substantially, the current situation underscores that what happens to China in the upcoming year holds significance for the global economy. Many countries worldwide are greatly influenced by China, from South Korea to developed Western countries like Germany.
I think the confidence of Chinese individuals is not as high as it was for the last three decades. Chinese policymakers need to listen, understand, and take action to specifically enhance the role of consumption. I read that there is discussion regarding additional policies which I hope could happen.
Chinese consumption, as a proportion of shared GDP, remains excessively low. But Chinese savings persist at levels that are disproportionately high. Chinese policymakers must identify the appropriate stimulus to instill greater confidence among the populace, thereby promoting increased spending.
GT: We seem to be entering an era of "tech decoupling" and "technological nationalism," with the US, for example, imposing restrictions on selling certain high-tech products to China. What impacts could this trend have on the global economy?
O'Neill: As an economist, I find it hard to take these populist measures very seriously. We all live on the same planet. The notion that the US and China could entirely decouple from one another is stupid. When considering balance of payments and countries' savings rates, if the US saves too little, it consequently needs to source capital from the international community. This situation inevitably leads to a trade deficit with the rest of the world, as dictated by the accounting identity of the balance of payments.
Consider the following theoretical scenario: If the US were to enact a prohibition on importing anything from China, for instance, the result would be the US importing those same items from other countries. Simultaneously, those other countries would import those goods from China.
In my opinion, the so-called decoupling is merely a populist political notion that lacks any logical basis.
Pakistani Ambassador to China Moin ul Haque inaugurated the Pakistan National Pavilion and attended the opening ceremony of the 9th Sichuan Agricultural Expo in Chengdu on October 28. Hu Yun, vice governor of Southwest China's Sichuan Province, presided over the opening ceremony.
The exhibition hall introduced famous tourist attractions in Pakistan and more than 10 Pakistani companies showcased some agricultural products. The exhibition hall attracted great interest from participants.
Pakistan is the guest of honor of this expo. The ambassador emphasized in his speech that Pakistan and China have established a solid bilateral relationship based on political mutual trust, strategic communication and practical cooperation. He also stressed the close cooperation between Pakistan and Sichuan, including through their sister cities.
Pakistan's participation in the 2023 CIIE will inject new impetus into the ongoing agricultural cooperation between Pakistan and China. Recently, the two sides reached five important agricultural agreement on the application of sanitary and phytosanitary measures, granting Pakistan access to the $30 billion market for cooked beef, dairy products, chili peppers, cherries and other livestock products, which will help Pakistan expand its exports to China.
