As both President Putin and H.E. Xi Jinping attended the 13th BRICS Summit together, one could surmise that BRICS is either being propped up, or there are some new plans for this initiative that seem troubled in the last number of years.
Here is Xi Jingping’s speech:
Advance BRICS Cooperation to Meet Common Challenges Together
Remarks by H.E. Xi Jinping
President of the People’s Republic of China
At the 13th BRICS Summit
At present, the COVID-19 pandemic is still wreaking havoc around the world. The road to global recovery remains bumpy and tortuous. And the international order is going through profound and complex changes. Facing these challenges, we the BRICS countries must step forward to make an active contribution to world peace and development and advance the building of a community with a shared future for mankind.
—We need to promote the practice of true multilateralism, adhere to the purposes and principles of the UN Charter, and safeguard the UN-centered international system and the international order underpinned by international law.
—We need to promote global solidarity against COVID-19, join forces to tackle the pandemic, uphold a science-based approach to tracing its origins, and oppose politicization and stigmatization. We need to enhance coordination in COVID prevention and control, and boost the research, production and equitable distribution of vaccines as a global public good.
—We need to promote openness and innovation-driven growth to facilitate a steady global recovery. We need to uphold the WTO-centered multilateral trading regime, make sure that the latest outcomes of scientific and technological progress bring benefit to all countries, and push for an economic globalization that is more open, inclusive, balanced and beneficial for all.
—We need to promote common development, follow a people-centered philosophy of development and fully implement the 2030 Agenda for Sustainable Development. We need to actively respond to climate change based on the principle of common but differentiated responsibilities, promote the transition to green and low-carbon development, and jointly build a clean and beautiful world.
Under the current circumstances, it is important for BRICS countries to stay resolved, strengthen unity and further enhance the quality of practical cooperation. To this end, I wish to make five proposals.
First, strengthen public health cooperation in the spirit of solidarity. We need to step up to our political responsibility, support each other’s COVID response, and share relevant information and COVID control experience. We need to pursue practical cooperation on vaccines, including joint research and production and mutual recognition of standards, and facilitate an early launch of the BRICS Vaccine R&D Center in virtual format. It is also important to strengthen cooperation on traditional medicine to develop more tools against the virus.
Second, strengthen international cooperation on vaccines in the spirit of equitable access for all. China has provided vaccines and necessary technical support for countries in need, and has made active contribution to promoting the equitable distribution of vaccines and global cooperation against COVID-19. To date, China has provided more than one billion doses of finished and bulk vaccines to over 100 countries and international organizations, and will strive to provide a total of two billion doses by the end of this year. I would like to take this opportunity to announce that on top of the US$100 million donation to COVAX, China will donate an additional 100 million doses of vaccines to fellow developing countries within this year.
Third, strengthen economic cooperation in the spirit of mutual benefit. We need to earnestly implement the Strategy for BRICS Economic Partnership 2025, and expand cooperation in such areas as trade and investment, technology and innovation, and green and low-carbon development. China proposes to host a BRICS high-level meeting on climate change and a BRICS forum on big data for sustainable development. We welcome the substantive progress made in expanding the membership of the New Development Bank (NDB), and look forward to a bigger role of the NDB in supporting the development of its members and in global economic and financial affairs. The BRICS Partnership on New Industrial Revolution innovation center, already launched in Xiamen, has hosted events such as personnel training, a think tank symposium and an industrial innovation contest. Next year, the center plans to hold a forum on the development of industrial Internet and digital manufacturing, among other activities, and we look forward to active participation of government departments and business communities of BRICS countries. The Agreement on the Cooperation on BRICS Remote Sensing Satellite Constellation, which has already been signed, should be fully implemented by us all to bring benefits to the people of our five countries.
Fourth, strengthen political and security cooperation in the spirit of fairness and justice. We need to consolidate the BRICS strategic partnership, support each other on issues concerning our respective core interests, and jointly safeguard our sovereignty, security and development interests. We need to make good use of BRICS mechanisms such as the meeting of foreign ministers and the meeting of high representatives for security, better coordinate our position on major international and regional issues, and send out an even bigger, collective voice of BRICS countries. The BRICS Counter Terrorism Action Plan, adopted earlier this year, should be implemented in real earnest.
Fifth, strengthen people-to-people exchanges in the spirit of mutual learning. The BRICS Women Innovation Contest hosted by China this year is a refreshing addition to our cooperation despite the pandemic. China suggests setting up a BRICS alliance for vocational education to organize vocational skills competitions and create a platform of exchanges and cooperation for the vocational colleges and businesses of our five countries. Going forward, China will host the BRICS seminar on governance and the BRICS forum on people-to-people and cultural exchanges, and open an online training course for media professionals of our five countries. China will host the Beijing Olympic and Paralympic Winter Games early next year. We look forward to welcoming athletes from BRICS countries and around the world to demonstrate their sporting skills and achieve excellent performance.
As a Chinese saying goes, “A man of wisdom adapts to changes; a man of knowledge acts by circumstances.” In advancing BRICS cooperation, we need to embrace changes of our times and keep abreast of the times. We need to set clearer priorities in our wide-ranging cooperation, make our cooperation more results-oriented and ensure that its benefits are fully delivered. We need to adjust and improve the substance and modality of our cooperation on the basis of consensus to meet the evolving circumstances and practical needs. I am confident that with our concerted efforts, the BRICS mechanism will brim with renewed vigor and vitality. Thank you.
The Bite out of the Dollar
Living in a Latin American country, we know very well what is referred to as “la mordida”, …… and this in English is called The Bite, referring to small service fees (bribes) that one sometimes needs to pay to get simple tasks accomplished.
La mordida, The Bite, is now alive and well in the dollar sphere.
But before we start, from the gossip sphere, the Chinese experts are speculating when the country of the dollar will be in clear economic technical default.
Take a look at this tweet from ShangaiPanda
We don’t care (about) the US.
Our epidemic has been controlled, our society is stable, our economy is prosperous, our volume of trade with ASEAN and EU are far more than the US, and we cooperate closely with Middle East and African countries.
And… we will no longer buy US Treasuries.😎 https://t.co/49FMjAyN39
— ShanghaiPanda (@thinking_panda) September 12, 2021
Once you’ve internalized the bolded sentence, here are a few more la mordidas (bites).
- Digital yuan trials shine at CIFTIS exhibition
China’s central bank-backed digital yuan has become an eye-catching attraction at the ongoing China International Fair for Trade in Services (CIFTIS) in Beijing, with visitors queuing up to experience the currency’s trial functions.
- Yuan trade settlements between Hainan & ASEAN up sevenfold in 2021
Settlements made in Chinese currency in trade between Hainan province and the Association of Southeast Asian Nations (ASEAN) countries soared sevenfold in the first half of 2021 under a pilot program for foreign trade in yuan.
The ongoing transactions between Hainan and ASEAN countries, 1.64 billion yuan ($254 million), and 385 million yuan ($60 million) came from direct investment.
- Russia & China continue ditching US dollars in settlements in favor of national currencies
Gazprom Neft will switch from US dollars to yuan and rubles to pay for refueling aircraft flying to or from China, the company’s CEO Alexander Dyukov told reporters on the sidelines of the Eastern Economic Forum.
“We are starting in September, and by the end of the year we can transfer virtually all payments for aviation fuel in China to yuan,” Dyukov said. He added that settlements for refueling Chinese airliners at Russian airports will be converted into rubles.
Economic Watch: RCEP to boost China-ASEAN ties, economic recovery
The RCEP, signed by 15 Asia-Pacific countries, including China and ASEAN’s ten member states in November last year, will “open a new chapter for China-ASEAN economic and trade ties,” said Ren Hongbin, China’s vice minister of commerce. The forum took place on Friday in Nanning, the capital of south China’s Guangxi Zhuang Autonomous Region.
Covering roughly 30 percent of the world’s gross domestic product, trade and population, the RCEP has great development potential and will inject strong impetus into the anti-pandemic battle and economic revival in East Asia and across the globe, Ren said.
(Take a wild guess – which currencies will only the RCEP member states trade with, for their +-30% of world trade? And now let’s add a few. I would opt for Iran, but also surprisingly I would opt for Brazil. Which ones do you think will follow?)
What comes clear is that the PetroDollar is not being Big Bang Abandoned, but la mordida style Eroded and bitten to death in a slow process in order to avoid a worldwide recession.
A thorium-fuelled nuclear reactor has begun tests in China, which looks to be the first country to have a shot at commercializing the technology. The reactor has the potential to produce nuclear energy that is relatively safe and cheap, while also generating a much smaller amount of very long-lived radioactive waste than conventional reactors. Thorium itself is a waste product of the growing rare-earth mining industry and is much more plentiful than uranium. Read full article →
Resulting from the Trade War
O-RAN an also-ran to Huawei 5G: China’s 5G market is so much larger than America’s that big players like Nokia are dropping out of the US-led software-based effort. Nokia departed this week from the US industry umbrella organization that’s promoting a software-based alternative to Huawei’s state-of-the-art 5G infrastructure – a blow to the credibility of a project that’s had trouble getting off the ground. Read full article $ →
More athletes say they fell ill during the Military World Games at Wuhan in October. German volleyball player Jacqueline Brock alleged that she got COVID-19 despite no cases being reported until December. “After a few days, some athletes from my team got ill, I got sick in the last two days. I have never felt so sick, either it was a very bad cold or COVID-19, I think it was COVID-19.” French pentathlete Elodie Clouvel claimed she and her partner Valentin Belaud contracted the virus at the Games. Italian fencer Matteo Tagliarol also said everyone in his apartment in the city fell ill with symptoms “that looked like those of COVID-19”. Luxembourg triathlete Oliver Gorges said he fell ill with a flu and is now to undergo an antibody test this week to see if he has COVID-19. Read full article →
China teaching their business to neither abandon, nor cheat the consumer
Consumers earn rewards of up to $155,000 for reports of safety problems or misconduct involving consumer products, double the current ceiling, to encourage employees and the public to blow the whistle on corporate wrongdoing. Read full article →
Delivery companies raise salaries $150/mo: Six major parcel delivery companies last week announced they will increase delivery fees to boost couriers’ incomes. Read full article →
Let’s just quickly win the culture war
China ordered broadcasters to shun artists with ‘incorrect political positions’ and ‘effeminate’ styles, and said a patriotic atmosphere needed to be cultivated.” Read full article →
More Common Prosperity, the word of the moment
In Depth: What’s standing in the way of ‘common prosperity’? The way the phrase was used by the President Xi Jinping-chaired meeting last month meant that it — and the associated idea of “third distribution” — quickly jumped up the policy agenda nationwide. State media reported that the commission emphasized the need to “reasonably regulate excessively high incomes” and that while the party allowed some people to “get rich first,” it is now prioritizing “common prosperity.” Read full article →
China also promulgated new laws for their medical field and their doctors – called the physician’s law. It seems to me as if they are taking steps to avoid recent western pitfalls.
From Jeff J Browne on September 9, 1976, the 45th anniversary of Mao Zedong’s death. Humanity’s most effective national leader ever, and 20th century’s most influential, died. Nineteen-seventy-six had been a tough year already for the Chinese people. Premier Zhou Enlai and Marshal Zhu De, both revered by the masses, had passed away and just weeks before Mao died, China experienced one of the worst earthquakes in recorded history, in Tangshan, between Beijing and Tianjin. In spite of this quadruple blow to the national consciousness, the Chinese nation bounced back to where it is today. Mao’s vision and teachings continue to guide and inspire his people into the future.
And let’s see what you can do on the street in China, but not in US America or most other western metropolises.
The Joke of the Day
Selections from Godfree Roberts’ extensive weekly newsletter: Here Comes China. You can get it here: https://www.herecomeschina.com/#subscribe
Long reads this week are a feast and include:
- Paul Keating
- Alastair Crooke
- Ambassador Chas W. Freeman, Jr.
- Trond Andresen
- Andre Wheeler
- Malcolm Scott
- Frans Vandenbosch
- Karl Wilson
Further selections and editorial and geopolitical commentary by Amarynth. (Don’t worry, China has it taped! and what we hear is that the Russian Military Forces and the Chinese Military Forces are completely integrated now in terms of communication abilities but before we spread that news, we will wait for the professionals to weigh in).