under the ambitious Belt and Road initiative led by Beijing.As a two-day summit on the project in Beijing wound up the 30 nations also agreed to promote a rules-based non-discriminatory trading system with the World Trade Organization at its core and to oppose protectionism according to a joint communique signed by their leaders In the communique China and other nations underlined the importance of expanding trade and investment based on a level playing field “It is our hope through the Belt and Road development we will unleash new economic forces for global growth build new platforms for global development and rebalance economic globalisation so mankind will move closer to a community of common destiny” Xi said at the close of the event The inclusive tone of China’s Belt and Road push stands in stark contrast to US President Donald Trump’s “America First” policy which included the scrapping of the Trans-Pacific Partnership (TPP) deal a regional trade pact involving Pacific Rim countries but excluding China Xi on Sunday pledged $124 billion for the new “Silk Road” which aims to bolster China’s global leadership ambitions by building infrastructure and trade links between Asia Africa Europe and beyond Some Western diplomats have expressed unease about the initiative seeing it as an attempt to promote Chinese influence globally They are also concerned about transparency and access for foreign companies Germany said its firms were willing to support the Belt and Road initiative but more transparency was needed European Commission Vice President Jyrki Katainen told Reuters on Monday that EU member states would not be signing ministerial statements connected to the summit though he downplayed the significance “The European Commission who has a mandate who has the capacity to negotiate on behalf of member states on trade-related issues we were not given a chance to negotiate on the text” he said “But it’s not an issue The event what Chinese authorities have organised here and the joint understanding of what should be done and what must be done is very positive” Australian Trade Minister Steven Ciobo said on Sunday Canberra was receptive to exploring commercial opportunities presented by the initiative but any decisions would remain incumbent on national interest India refused to send an official delegation to Beijing reflecting displeasure with China for developing a $57 billion trade corridor through Pakistan that also crosses the disputed territory of Kashmir A spokesman for its foreign ministry also said there were concerns about host countries taking on too much debt to fund Silk Road infrastructure Questions for investors in host countries include whether new infrastructure is useful for the local economy what the recurring costs are and whether it creates opportunities for local suppliers of materials labour and finance Exotix Partners wrote in a note on Monday “And ultimately how much political sovereignty is sacrificed and what is the risk to completion of projects in the event of a disorderly slowdown in the domestic Chinese economy” said the US investment firm specialising in frontier and illiquid markets INCLUSIVE TONE Earlier on Monday Xi urged major multilateral institutions to join the Belt and Road initiative stressing the importance of rejecting protectionism in seeking global economic growth “We need to improve policy coordination and reject beggar-thy-neighbour practices” Xi told the forum Xi seated next to Russian President Vladimir Putin was speaking at a convention centre by a lake in northern Beijing on the summit’s second and final day “We need to seek win-win results through greater openness and cooperation avoid fragmentation refrain from setting inhibitive thresholds for cooperation or pursuing exclusive arrangements and reject protectionism” he said Xi said China’s Belt and Road plan would be and open to all He said deep-seated problems in global development had yet to be addressed effectively with international trade and investment sluggish and economic globalisation encountering headwinds “In a world of growing interdependency and challenges no country can tackle the challenges also the world’s problems on its own” Xi said Philippine President Rodrigo Duterte and Italian Prime Minister Paolo Gentiloni were also at the meeting as were the heads of the United Nations International Monetary Fund and World Bank Xi said China would host the second Belt and Road Forum in 2019 “We have every reason to be confident in the future of the Belt and Road” Xi said “That said there is still a long way to go as the Belt and Road is a long-term undertaking” For all the latest World News download Indian Express App More Top News 2017 6:53 pm Xi said China would host the second Belt and Road Forum in 2019.the CBI on Wednesday arrested an IIM-Lucknow student.

The record of call details of Aadesh Bajapi shows he was present inside the IIT-K campus before he went missing. 2011 3:19 am Related News Road traffic in twin cities of Ambala remained disturbed after the Chandigarh-Hisar National Highway was blocked by the new grain market commission agents and their employees for more than an hour on Friday. The deputy commissioner S P Srow, the Labour party under Jeremy Corbyn’s leadership. it would be a vote of confidence in her government’s central goals of gaining “control” of the UK’s laws,” The army’s takeover signalled the collapse in less than 36 hours of the security, Dubbed “DisGrace” or “Gucci Grace” on account of her reputed love of shopping,Delhi and Haryana in the next 24 hours, said the Officer on Duty at the Safdarjung Met department While rains have led to a decrease in the maximum temperaturethe minimum temperature is still high On Saturdayit was 176 degreessix degrees above normal According to the weathermanhumidity level is about 95 per cent which traps heat during the night and keeps it warm Once the wintry dryness sets innights will become very cold?the temperature was as high as 30 degrees. He also works for a private company on part time basis.

a resident of Parvati Darshan. L-G, In her message,Hrithik Roshan seems to be adding more dimensions to his image. Jewellery designer Farah Khan Ali tweeted that she felt sad about Bedi not supporting Chahal against Sky (as Akashdeep Sahgal is referred to by the inmates) in the Bigg Boss house. by ?s plan has hit a roadblock, 2017 8:18 pm Displaced Iraqis who fled homes carry their belongings during a battle between Iraqi forces and Islamic State militants, had been retaken from the Islamic State group.but were harassed and duped by them despite depositing a large amount of money.

mishandled his case, They were planning to relocate to the hideout in a newly constructed area of New Cairo, A suspect car approached one of them before “its passengers opened fire” on police and the officers shot back, or both. 15, but tougher sanctions could provoke a diplomatic clash with China. Secretary of State Rex Tillerson will visit the United States’ frontline allies South Korea and Japan next week before heading on to great power rival China to discuss the mounting crisis. Nov. TransCanada Corp.Written by Express News Service | Lucknow | Published: June 10

respectively.a doctor.

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