Connect with us

International

China must balance policies, after Fed’s interest rate hike

A cashier counts renminbi notes at a bank in Nantong, Jiangsu province. (Photo: Sipa)

Following the Federal Reserve’s interest rate hike and the monetary policy shift of Western countries, China should hold a cautious approach and base its monetary policy on its concrete economic conditions and development trend.

China and the United States’ economic cycles are not synchronized. The US has robust investment and consumption and inflation remains high while China urgently needs to boost investment and consumption and relieve its employment pressure.

The two countries naturally have different monetary policy focus and policy tools. While the Fed raises interest rates to control inflation, China needs to maintain enough liquidity to keep its economic pace and support enterprises during the pandemic. However, as China and the US are trade and investment partners, the Fed’s rate hike will reduce the US’ import demand, adversely affecting China’s exports, hitting its market confidence and accelerating its capital outflow. This will undermine China’s effort to increase investment and solve the employment problem.

However, the Fed’s rate hikes and the appreciation of the US dollar will also increase the relative price advantage of China’s export commodities. Whenever the Fed has raised interest rates, economically fragile countries have been hit by monetary, financial and even economic crises. International capital flowing out of these emerging markets may choose to flow into China, given its sound economic fundamentals and high national credit.

Therefore, China should maintain its sound monetary policy and increase its support for the real economy. Any of its monetary policies should focus on promoting economic growth and full employment.

It should seize the opportunity of narrowing interest rates with the US to expand international loans of the renminbi and further play the renminbi’s role as a financing currency, promote the further opening-up of its financial market to guide market expectations and make economic growth more stable and sustainable.

Continue Reading
Advertisement

International

UN event marks first international day for dialogue

The United Nations celebrated on Monday the first International Day for Dialogue among Civilizations with a high-level event cohosted by China’s Permanent Mission to the UN and the United Nations Alliance of Civilizations. The celebration brought together diplomats, cultural leaders and civil society representatives from across the globe.

Speaking via video, Chinese Foreign Minister Wang Yi emphasized the urgency of intercultural dialogue amid current geopolitical instability. Dialogue among civilizations is a bond of peace, a driver of development and a bridge of friendship, he said.

Wang called for upholding equality among civilizations, promoting exchanges among civilizations, and advancing the progress of civilizations. He also highlighted the Global Civilization Initiative, proposed in 2023 by President Xi Jinping, as part of the country’s efforts to build a community with a shared future for humanity.

The UN General Assembly unanimously adopted a resolution last year, cosponsored by over 80 countries, that declared June 10 as International Day for Dialogue among Civilizations.

Fu Cong, China’s permanent representative to the UN, also spoke at the event, warning about an increase in global discrimination and cultural intolerance.

“Discrimination and prejudice against different cultures, races, skin colors and social systems are on the rise,” Fu said. “Theories of superiority and civilizational conflict are making waves. It is, therefore, high time to champion the diversity of civilizations and strengthen civilizational exchanges and dialogue.”

He emphasized the need for inclusive engagement in promoting dialogue, calling for active participation from governments, political parties, women, youths and other sectors of society.

Fu also called for expanded cultural and people-to-people exchanges, stressing the importance of engagement by governments, political parties, women, youths and others.

“Cultural exchanges and effective communication have always been an important bridge for people of all countries to deepen understanding and trust,” he said.

UN Secretary-General Antonio Guterres said in a video message that on the first International Day for Dialogue among Civilizations, people celebrated “the rich diversity of civilizations as a force to promote mutual understanding and global solidarity”.

“Today, that mission is more urgent than ever,” he said, adding, “In our fractured world, dialogue is not optional — it is essential for building bridges of understanding and trust.”

The thematic event, moderated by Fu, also included remarks from high-level officials including UN General Assembly President Philemon Yang and UN Alliance of Civilizations High Representative Miguel Angel Moratinos. Diplomats from Egypt, Peru, Spain and Uzbekistan, co-organizers of the event, spoke as well.

Moratinos, who is also the UN special envoy to combat Islamophobia, said: “Dialogue is a timely priority, but even more so today. We are living in an era marked by deep uncertainty, increasing political tension, violent conflict, social fragmentation, climate change and the dangerous spread of hate speech, racism and extreme politicization.

“The adverse impact of all these crises is deeply felt across our societies. They fracture them and sow division, mistrust and fear. In such a context, dialogue is not an abstract gesture of goodwill — it is a strategic imperative. It is our most effective means to defuse tension, build trust and reaffirm our common humanity,” he said.

Event participants were invited to view a multimedia exhibition titled Mutual Learning Among Civilizations, Shared Global Vision, featuring three curated sections — The Light of the Sun: Ancient Shu Civilization and the World;Civilization and Shared Aspirations, a display of graphic artworks; and The Declaration of Civilizations, a visual interpretation of shared human values.

The evening concluded with a cultural performance titled Dialogue Across Mountains and Seas, featuring music, dance and visual storytelling from across different continents. Monday’s event brought together more than 1,000 participants, including senior diplomats, UN officials and representatives of civil society.

The event “was very timely and very welcome”, Enrique Armando Roman Morey, permanent representative of Peru to the UN, told China Daily. “We attend many events where we feel the tensions of the world. But today was an event where we felt the capacity to build bridges among civilizations.”

Moratinos told reporters: “We are in the 21st century. We are not in the time of Neanderthals or prehistory, where people only knew how to solve problems by killing each other. We are in the 21st century — it is time to put an end to war and conflict. And for that, the only way to solve a conflict, controversy or difference is through dialogue.”

“But it has to be a constructive dialogue,” he added. “It has to be a sincere dialogue. It has to be a committed dialogue. It has to be a respectful dialogue. It has to be a dialogue that understands the other, that doesn’t impose something on the other.”

Furthermore, Moratinos said, “I think China, the Alliance of Civilizations and the UN share the same values and the same methodology — to create a better world.” ( from China Daily News)

Caption: Fu Cong (center), China’s permanent representative to the United Nations, and Miguel Angel Moratinos (right), high representative for the UN Alliance of Civilizations, look at an artifact from China’s ancient Shu civilization on Tuesday at a themed exhibition to mark the first International Day for Dialogue among Civilizations at the UN headquarters in New York, the United States

Continue Reading

International

Washington DC Fifth Graders Learn About Barbados

Last Friday, a fifth-grade class from JC Nalle Elementary in Washington DC, visited Barbados’ Embassy in Washington as part of the Embassy Adoption Program (EAP). The visit was the culmination of a series of sessions which started in November 2024.

The EAP is a global education programme that links fifth and sixth grade classes with embassies and other global entities to provide DC Public School students with a unique opportunity to expand their global awareness.

The class was initially visited by former teacher, now diplomat, First Secretary William Clarke and staffer, Elle Duguid of the embassy.  Mr. Clarke and Ms. Duguid taught students general facts about Barbados including its location, history, government, and economy. 

During a second visit in December, the students learned about cricket, ‘bajan’ dialect, the island’s festivals, including Crop Over, and also about celebrations held within Barbados.

For the third and fourth visits respectively, the students were informed about We Gatherin’ and Barbados’ geography, nature and landscape. The Embassy concluded its visits to the school with a presentation on climate vulnerability and sustainability in Barbados.

To cap the programme off, students visited the embassy to meet with Barbados’ Ambassador to the United States of America, Vic Fernandes, to whom they made a presentation on what they learned. The students performed a medley of skits and dances highlighting Barbados’ history and culture. After the presentation, Ambassador Fernandes hosted the students for lunch.

Next month, the JC Nalle Elementary students will participate in the EAP’s Mini United Nations simulation representing Barbados. There, the students will debate the important topic of climate vulnerability and deliver a final presentation showcasing what they learned throughout the programme. (PR/GIS)

Caption: Barbados’ Ambassador to the United States, Vic Fernandes (right), and staff of the Embassy of Barbados in Washington, D.C., pose with fifth graders of JC Nalle Elementary

Continue Reading

International

CHINA ANNOUNCES VISA FREE TRAVEL FOR SOME LATIN AMERICA & CARIBBEAN COUNTRIES

China plans to expand its visa-free policy for five Latin American/#Caribbean countries and offer 3,500 scholarships and 10,000 training opportunities, as part of a five-programme plan to advance shared development and revitalisation with LAC countries. source Caribbean News UK

Continue Reading

Trending

© 2025 Advomag. Developed by RX Creative Powering bold brands, clean design, and digital creativity that gets results.