Xi as People's Leader - Defending Economic Globalisation - Wang Yi to S. Korean FM: 'Near Neighbor is better than a Distant Cousin' - US-China Economic Talks
Here are the key reports and articles that I found noteworthy from the People's Daily’s edition on Wednesday, February 07, 2024.
Page 1: The lead article on the page talks about tracing the footprints of Xi’s pre-Lunar Festival visits over the past decade. The article begins with Xi’s recent visit to Tianjin and then we get a long recap. The objective is to make the point about Xi being a man of the people, who is concerned about the people’s welfare and follows a “people first” approach; in turn, the people have faith in him and affection for him. Ergo, the article uses the title 人民领袖 (People’s Leader) for Xi.
Next, there’s a report on Li Qiang sending a congratulatory message (English report) to the ‘Icebreakers’ 2024 Chinese New Year celebration hosted by Britain’s 48 Group Club.
Third, there’s a report on Ding Xuexiang meeting with Norway’s Minister of Foreign Affairs, Espen Barth Eide. Xinhua reports:
“China is committed to opening up at a higher level and is willing to share with Norway the opportunities of China's large market, Ding said. In addition, he hoped that Norway will continue to provide an open, fair, just and non-discriminatory business environment for Chinese enterprises. Ding said China is willing to work with Norway to continuously strengthen cooperation in environmental governance, climate change and biodiversity protection and make greater contribution to global green and sustainable development.”
Fourth, there’s a report on Han Zheng meeting with Swiss Federal Councillor and Foreign Minister Ignazio Cassis in Beijing. Xinhua reports:
“Han said that under the strategic guidance of the leaders of the two countries, China and Switzerland have established an innovative strategic partnership, which has set a fine example of friendly cooperation between countries of different social systems and different sizes at different development stages. Noting that next year marks the 75th anniversary of the establishment of diplomatic ties, Han said the two sides should carry forward the fine tradition of friendship and cooperation, adhere to mutual respect, deepen mutually beneficial cooperation, jointly promote cultural and people-to-people exchanges and push for continuous development of bilateral relations. China stands ready to work with Switzerland to build a community with a shared future for humanity and make the global governance system more just and equitable, Han added.”
Page 3: There’s a long Huan Yu Ping commentary arguing for “inclusive economic globalisation.” It argues that despite the rise in protectionism, weakening of international trade and supply chain blockages, there is no need to be pessimistic. “Economic globalisation is the trend of the times, despite encountering many counter-currents and dangerous shoals, the direction of economic globalisation has never changed and will not change.” 经济全球化是时代潮流，尽管出现了很多逆流、险滩，但经济全球化方向从未改变、也不会改变.
The first section of the commentary basically discusses the benefits of economic globalisation, particularly since the Cold War.
It makes the point that “from a historical perspective, economic globalisation is an objective requirement for the development of social productive forces and an inevitable result of scientific and technological progress. It is not artificially created by any person or country.” 历史地看，经济全球化是社会生产力发展的客观要求和科技进步的必然结果，不是哪些人、哪些国家人为造出来的.
And then the piece says:
“Economic globalisation has experienced twists and turns in recent years, mainly due to policy changes in some Western countries. These countries were once the main drivers of economic globalisation, but now they are intensively launching various protectionist policies. This change has both economic drivers and political manipulation. After the outbreak of the international financial crisis in 2008, the economies of some Western countries entered a period of deep adjustment, and the contradictions between domestic growth and distribution, capital and labour, and efficiency and fairness became more pronounced. Certain politicians took advantage of this situation to incite populism, attempting to address internal challenges by external means and shifting contradictions, leading to the rise of protectionism and anti-globalization sentiments. In recent years, some Western countries have been obsessed with geopolitical games, perceiving the broadly interconnected economic relationships shaped by economic globalisation as security threats. They have engaged in pan-politicization and pan-securitisation in an attempt to artificially cut off the mutually beneficial cooperative relations between enterprises in various countries. From ‘tariff war’ to ‘de-risking’, from ‘decoupling and breaking chains’ to ‘high walls in small yards’, from ‘near-shoring’ to ‘friend-shoring’, there are endless names, but in essence all of these are about ‘instrumentalizing and weaponizing trade and economics in order to achieve power goals’.” 近年来经济全球化出现曲折，主要是因为一些西方国家政策转向。这些国家曾经是经济全球化的主要推手，但如今却密集推出形形色色的保护主义政策。这种转变既有经济动因，也有政治操弄的影响。2008年国际金融危机爆发后，一些西方国家经济进入深度调整期，国内增长和分配、资本和劳动、效率和公平的矛盾更加突出。一些政客借此做文章，煽动民粹主义，企图搞内病外治、转嫁矛盾，导致保护主义和逆全球化思潮抬头。个别西方国家近年来执迷于地缘博弈，将经济全球化塑造的国家间普遍经济联系视为安全威胁，大搞泛政治化和泛安全化，企图人为斩断各国企业之间的互利合作关系。从“关税战”到“去风险”，从“脱钩断链”到“小院高墙”，从“近岸外包”到“友岸外包”，名目层出不穷，实质都是“为实现权力野心而将经济工具化、贸易武器化”.
It adds that “international agencies view rising protectionism as a serious risk to the world's economic recovery”. It cites an IMF study saying that “if economic fragmentation is allowed to continue, it could eventually cost global GDP 7%, roughly equivalent to the combined GDP of France and Germany in a year.” 该机构的一项研究显示，如果任由经济碎片化继续，最终可能会使全球国内生产总值损失7%，大致相当于法国和德国一年国内生产总值的总和.
The section ends with the point that despite the challenges, protectionism cannot change the general trend of economic globalisation; this is because “the reality of economic interdependence among countries has not changed”. It cites a report by the United Nations Conference on Trade and Development as arguing that “although the total global trade volume dropped by approximately $2 trillion in 2023 due to factors such as falling commodity prices, the volume of trade in goods will remain stable and resilient. At the same time, global services trade volume increased by $500 billion, accounting for an even heavier weight in global trade.” 联合国贸发会议发布的报告显示，尽管受商品价格下降等因素影响，2023年全球贸易总额下降约2万亿美元，但货物贸易量走势平稳，展现出韧性。同时，全球服务贸易额增长5000亿美元，在全球贸易中的分量更重.
The second part of the commentary makes the point about equity. It argues that:
“developed economies have been huge beneficiaries of economic globalisation by taking advantage of their leading economic and technological advantages and favourable international economic rules and order. In the past few decades, a large number of emerging economies have seized the opportunities of economic globalisation, actively promoted opening up to the outside world, given full play to their comparative advantages, continuously improved their international competitiveness, and successfully promoted their own development. However, there is also a portion of developing economies, especially low-income and least developed economies, that, due to inherent deficiencies in development resources and economic structure, coupled with the impact of unfair international economic rules and order, have benefited relatively less in the process of economic globalisation; some have even faced marginalisation.” 从国家间层面看，发达经济体利用其领先的经济、科技优势和对其有利的国际经济规则、国际经济秩序，成为经济全球化的巨大受益者。一大批新兴经济体过去几十年抓住了经济全球化机遇，积极推行对外开放，充分发挥自身比较优势，国际竞争力不断提高，成功推进了本国发展。然而，也有一部分发展中经济体尤其是低收入经济体、最不发达经济体，由于在发展资源、经济结构等方面存在“先天”不足，加之不合理的国际经济规则、国际经济秩序影响，在经济全球化进程中获益相对较少，甚至被“边缘化”.
“In recent years, global issues such as North-South divide, divergent recoveries, and the technological divide have become more pronounced, leading many developing countries into difficulties. Behind unbalanced development are issues of unfair rights, unfair opportunities, and unfair rules. UN Secretary-General Guterres has pointed out that the existing structure and rules of international financial institutions ‘unfairly favour’ developed countries. During the COVID-19 pandemic, the G7 countries received the equivalent of $280 billion from the IMF, while some least developed countries with a population far larger than the G7 countries received only about $8 billion. 近年来，全球南北差距、复苏分化、技术鸿沟等问题更加突出，不少发展中国家陷入困境。发展失衡背后，是权利的不公平、机会的不公平、规则的不公平问题。联合国秘书长古特雷斯指出，国际金融机构的现有架构和规则“不公平地偏向于”发达国家。新冠疫情期间，七国集团从国际货币基金组织获得总计相当于2800亿美元的资金，而人口远超七国集团的一些最不发达国家获得的资助总计只有约80亿美元.
“From a national perspective, there are significant differences in the extent to which different groups in some developed economies have benefited from the process of economic globalisation. In the US, financial capital and multinational corporations represented by Wall Street have made huge profits from global resources, but some ordinary people have become ‘laggards of the times’ and their actual living standards have declined. The U.S. government, constrained by the monopoly of capital over political resources, is powerless to address the widening wealth gap. Some populist politicians exploit the discontent of certain segments of the population, scapegoating others without cause and baselessly blaming other countries, attempting to divert public attention from domestic issues to external ones. The intertwining of economic factors and political factors has led some countries to engage in unilateralism and protectionism in recent years, and to concoct discriminatory and exclusive standards and rules. Instead of addressing the challenges faced by these countries themselves, these practices have disrupted the normal operation of the world economy.” 从国家内部层面看，一些发达经济体内不同群体在经济全球化进程中的受益程度存在明显差异。在美国，以华尔街为代表的金融资本和跨国公司利用全球资源赚得盆满钵满，一部分普通民众却成了“时代的落伍者”，实际生活水平出现了下滑。美国政府受制于资本对政治资源的垄断，对贫富分化束手无策。一些民粹主义政客利用部分民众的不满心理，到处找替罪羊，无端指责其他国家，试图把民众注意力从国内引向国外。经济因素与政治因素的相互交织，导致个别国家近年来大搞单边主义、保护主义，炮制歧视性、排他性的标准、规则。这些做法非但没有解决这些国家自身面临的挑战，还扰乱了世界经济正常运行.
The final section then offers a solution to all of these challenges.
“It is necessary to jointly expand and fairly divide the ‘cake’ of economic globalisation, so that different countries, different classes and different groups can participate in and enjoy the fruits of economic and social development and achieve mutual benefit and common prosperity.” 要共同做大并公平分好经济全球化“蛋糕”，让不同国家、不同阶层、不同人群都能参与并享有经济社会发展成果，实现互利共赢和共同繁荣.
“Leading countries should sincerely help other countries develop and provide more global public goods. Major countries must assume the responsibilities of a major country and contribute to global development. We should pay attention to the special needs of developing countries, support developing countries, especially those that are vulnerable and face particularly great difficulties, through debt relief and development assistance, and strive to solve the problems of imbalance and insufficient development among countries and within countries.” 走在前面的国家应该真心帮助其他国家发展，提供更多全球公共产品。大国要有大国的担当，都应为全球发展事业尽心出力。要关注发展中国家特殊需求，通过缓债、发展援助等方式支持发展中国家尤其是困难特别大的脆弱国家，着力解决国家间和各国内部发展不平衡、不充分问题.
“Economic globalisation should be inclusive, which means that countries should be supported in exploring development paths that suit their own national conditions while they work together to promote the common development of all mankind. We must oppose all forms of unilateralism and protectionism, and resist discriminatory and exclusive standards and rules. It is necessary to promote trade and investment liberalisation and facilitation, maintain the stability and smoothness of global industrial and supply chains, promote mutual understanding and accommodation of each other's interests and concerns, resolve structural problems that hinder the healthy development of the world economy, and maintain the vitality and momentum of global economic growth.” 经济全球化应当是包容的，就是支持各国走出符合自身国情的发展道路，同时携手推动全人类的共同发展。要反对各种形式的单边主义、保护主义，抵制歧视性、排他性的标准、规则。要促进贸易和投资自由化便利化，维护全球产业链供应链稳定畅通，推动各方互谅互让照顾彼此利益关切，破解阻碍世界经济健康发展的结构性难题，保持全球经济增长活力与动力.
“Some countries, driven by hegemonic thinking, find it difficult to accept the prosperity of other nations and are quick to throw obstacles in their way. Facts have shown that the beggar-thy-neighbour anti-globalisation approaches not only fail to solve one’s own chronic problems, but also disrupt global industrial and supply chains, hinder the healthy development of the world economy, and harm the interests of all countries. All countries in the world have the right to choose their own development paths, and no one has the authority nor the right to obstruct the pursuit of a better life by people in various nations. All countries should abide by the concept of mutually beneficial cooperation, respect the objective laws of international industrial division of labor, reject the narrow-minded policy of beggar-thy-neighbour and selfishness, abandon the one-sided approach of monopolising development advantages, and tear down the high barriers that separate trade, investment, and technology, while promoting the construction of an open world economy. Only when all countries jointly insist on tearing down walls instead of building them, opening up instead of isolating themselves, and integrating instead of decoupling can we create a better tomorrow for the world economy.” 个别国家出于霸权思维，难以接受其他国家发展得好，动辄就要使绊子。事实表明，以邻为壑的逆全球化做法不仅解决不了自身的沉疴痼疾，而且扰乱全球产业链供应链，阻碍世界经济健康发展，导致各国利益受到损害。世界上所有国家都有自主选择发展道路的权利，任何人都无权也不能阻挡各国人民对美好生活的追求。世界各国都应恪守互利共赢的合作观，尊重国际产业分工的客观规律，拒绝以邻为壑、自私自利的狭隘政策，抛弃垄断发展优势的片面做法，拆除割裂贸易、投资、技术的高墙壁垒，推动构建开放型世界经济。唯有各国共同坚持拆墙而不筑墙、开放而不隔绝、融合而不脱钩，才能开创世界经济更加美好的明天.
Next, let’s look at the report of the call between Wang Yi and his South Korean counterpart, Cho Tae-yul. Xinhua reports:
“Wang noted that China has maintained a stable and consistent policy towards South Korea, and has always regarded South Korea as an important cooperative partner. He expressed hope that the South Korean side could stick to a positive, objective and friendly policy towards China, keep to the one-China principle, maintain the political foundation for China-South Korea relations, and promote bilateral ties to return to the track of sound and stable development. Saying that the two economies are closely connected, and that the two industrial and supply chains are highly inter-embedded, Wang called on both sides to jointly maintain the stability and smooth flow of the industrial and supply chains, and oppose the politicization, pan-securitization and instrumentalization of economic issues.”
The report quotes Cho as saying that “the South Korean government attaches great importance to developing relations with China, and is willing to enhance mutual trust, focus on cooperation, advance high-level exchanges, accumulate achievements in economy, culture, and other fields, and push for the sustainable development of bilateral relations…South Korea remains unchanged in its position on one-China, he said. Noting that South Korea and China have close economic and trade ties, Cho said the South Korean side agrees that economic and trade issues should not be pan-securitized, and the two sides can strengthen communication and coordination on maintaining the stability of the industrial and supply chains.”
Then Wang said: “‘A near neighbor is better than a distant cousin’ … As the Year of the Dragon is just around the corner, it is hoped that China-South Korea relations will be full of vigor, show a new atmosphere, and open up new prospects in the upcoming new year, so as to bring more benefits to the two peoples.”
Then, there is an interesting description by Wang of the current Korean Peninsula tensions.
Xinhua reports it as: “Not for nothing was the tense moment on the Korean Peninsula, Wang said, adding it is hoped that all parties will remain calm, exercise restraint, refrain from words and deeds that aggravate tensions, and address their respective legitimate concerns through dialogue and consultation.”
South Korean media reported that the call lasted for 50 minutes.
“During the conversation, Cho conveyed concerns regarding the forced repatriation of North Korean defectors, both domestically and internationally. He requested China’s cooperation to allow defectors to choose their destinations without facing forced repatriation.”
The report adds:
“According to a press release from the Ministry of Foreign Affairs, Cho emphasized to Wang the significance of minimizing sources of conflict and building upon cooperative achievements to foster sustainable qualitative growth based on trust between South Korea and China. Regarding the yet-to-be-scheduled trilateral summit involving South Korea, Japan, and China, Cho proposed advancing follow-up discussions. Wang expressed support for South Korea’s hosting efforts for the summit in response, the ministry said. Both sides also discussed recent provocations by North Korea. Cho expressed concerns about North Korea’s ongoing development of nuclear and missile capabilities, in violation of UN Security Council resolutions, as well as its continued military cooperation with Russia. He then urged Wang to enhance China’s constructive role in encouraging North Korea to halt further provocations and pursue denuclearization.”
Next, there’s a brief report on He Lifeng meeting with a delegation led by Jay Shambaugh, under secretary for international affairs at the U.S. Department of the Treasury. This meeting happened along with the third meeting of the China-US economic working group. As per the Chinese Ministry of Finance the meeting was co-chaired by Chinese Vice Minister of Finance Liao Mi and Shambaugh.
The Chinese readout said that “China and the U.S. conducted in-depth, candid, pragmatic and constructive exchanges on topics such as the macroeconomic situation and economic policies of the two countries, the G20 fiscal and financial cooperation, the debt of developing countries and industrial policies…The Chinese side expressed concerns over the U.S. tariff hikes on China, two-way investment restrictions and sanctions to suppress Chinese enterprises. The two sides agreed to continue to maintain communication.”
The US readout said that:
“Senior officials from the U.S. Department of the Treasury and China’s Ministry of Finance convened for the two-day EWG meetings in Beijing, with participation by other agencies. The two sides opened discussions with an exchange of views on domestic macroeconomic outlooks. The meeting sessions included discussions on cooperating on shared challenges such as debt issues in low-income and emerging economies. U.S. officials also frankly raised issues of concern, including China’s industrial policy practices and overcapacity, and the resulting impact on U.S. workers and firms. U.S. officials reaffirmed that the U.S. is not seeking to decouple the two economies and instead seek a healthy economic relationship that provides a level playing field for American companies and workers. The meetings concluded with both sides agreeing to meet again in April. While in Beijing, the Treasury delegation also met with Vice Premier He Lifeng, where they conveyed that Secretary Janet L. Yellen welcomed the progress made by the EWG and discussed the importance of continuing to deepen communication and work together on shared challenges. They also indicated that the Secretary looks forward to a return visit to China this year at the appropriate time.”
Page 4: There’s a report on the meeting of the central inspection and guidance team for the study and implementation of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and the office of the Central Leading Group for the Thematic Education Campaign being held in Beijing. It concluded that:
“It is necessary to take the consolidation and expansion of the achievements of the thematic education campaign as a major political task, continue to thoroughly study and implement Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and the spirit of the 20th Party Congress, and more consciously make new contributions to comprehensively promoting the construction of a strong country and the great cause of national rejuvenation with Chinese-style modernization.” 要把巩固拓展主题教育成果作为重大政治任务，持续深入学习贯彻习近平新时代中国特色社会主义思想和党的二十大精神，更加自觉地为以中国式现代化全面推进强国建设、民族复兴伟业作出新的更大贡献.
Next, there’s a report on comments by Minister of Public Security Wang Xiaohong at a national teleconference, discussing Party conduct, upholding integrity and combating corruption. Wang’s message was:
“Wang Xiaohong emphasized the need to deeply study and implement General Secretary Xi Jinping's important thoughts on the Party’s self-revolution; deeply understand the decisive significance of the Two Establishments; unswervingly adhere to the Party’s absolute leadership; always bear in mind that the “two are a continuous process/always on the road 两个永远在路上” (this refers to comprehensive and strict Party governance and self-revolution); deeply practice the practical requirements of the ‘Nine Grasps’九个以 advance the construction of Party conduct, integrity, and the fight against corruption; and forge a new era public security force that is loyal, clean, and responsible, thereby providing a stronger guarantee for advancing the modernization of public security work.” 王小洪强调，要深入学习贯彻习近平总书记关于党的自我革命的重要思想，深刻领悟“两个确立”的决定性意义，毫不动摇坚持党的绝对领导，牢记“两个永远在路上”，深入践行“九个以”实践要求，纵深推进党风廉政建设和反腐败斗争，锻造忠诚干净担当的新时代公安铁军，为推进公安工作现代化提供更加坚强有力的队伍保障.
“Wang Xiaohong called for consolidating and expanding the achievements of the thematic education campaign, continuously deepening theoretical education, and more consciously placing all public security work under the absolute leadership of the Party. Focus on reducing existing problems and curbing new problems, deepen reforms at the roots, fortify ideological defenses, and comprehensively promote the eradication of corruption, ensuring that one does not dare to, cannot and does not desire to engage in corruption, and resolutely win the tough and protracted battle against corruption. It is necessary to insist on both rectification and exemplary actions, and to conscientiously implement the spirit of the eight-point regulations and its detailed implementation rules, and promote a new upgrade of the work style throughout the entire police force. It is necessary to deepen discipline construction, effectively develop discipline consciousness, and maintain the bottom line of behaviour. It is necessary to improve the system and mechanism for managing power, affairs and personnel, and strengthen the system for comprehensive and strict Party governance in the public security domain.” 王小洪要求，要巩固拓展主题教育成果，持续深化理论武装，更加自觉把公安各项工作置于党的绝对领导之下。要在减存量、遏增量上聚焦发力，深化标本兼治，筑牢思想防线，一体推进不敢腐、不能腐、不想腐，坚决打赢反腐败斗争攻坚战持久战。要坚持纠树并举，锲而不舍落实中央八项规定及其实施细则精神，推动全警作风实现新提升。要深化纪律建设，切实养成纪律自觉、守住行为底线。要完善管权管事管人制度机制，健全全面从严管党治警工作体系.