Chinese, Norwegian FMs exchange congratulations on 70th anniversary of diplomatic ties

Chinese Foreign Minister Wang Yi and Norwegian Foreign Minister Espen Barth Eide exchanged on Saturday congratulatory messages on the 70th anniversary of the diplomatic ties between the two countries.

In his message, Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said that since the establishment of diplomatic ties 70 years ago, China-Norway relations have become more mature and stable.

Not long ago, Prime Minister Jonas Gahr Store paid a successful visit to China, during which leaders of the two countries had in-depth exchanges on bilateral relations and important international affairs, and reached consensus on jointly promoting green and sustainable development and addressing global challenges, he said.

Wang said that he stands ready to work with Eide to implement the important consensus reached by the leaders of the two countries, continue to strengthen exchanges and cooperation between the two foreign ministries, and make a greater contribution to carryin
g forward the past successes and opening up another new and wonderful 70-year for China-Norway relations.

For his part, Eide said that Norway was one of the first Western countries to recognize the New China, and bilateral relations have made great progress in the past 70 years.

It is in the interests of both countries to further strengthen their political and economic ties, Eide said, adding that the two sides had constructive dialogues on key issues of common interest during Prime Minister Store’s recent visit to China.

Eide said that he looks forward to the two countries continuing to deepen bilateral relations and jointly building a better and more sustainable world.

Source: The Namibia Press Agency

Social media X fined 5.23 mln USD in Brazil

Social media X, formerly known as Twitter, has paid 28.6 million reais (about 5.23 million U.S. dollars) in fines to the Brazilian government to seek the resumption of its operations in the country, local media reported Friday.

The social media giant, owned by Elon Musk, has submitted proof of payment of the fines imposed by Brazil’s Supreme Court Justice Alexandre de Moraes, according to lawyers from X.

De Moraes suspended X in Brazil in August after the company failed to appoint a legal representative in the country to hear concerns about disinformation campaigns and content moderation.

Musk decided to resume the operations of X in Brazil after Starlink, his satellite internet company, began facing operational difficulties in the country.

Source: The Namibia Press Agency

Economic Watch: China’s import expo shows its commitment to opening up

With the seventh China International Import Expo approaching, global exhibitors are gearing up for the expo, which will take place in Shanghai starting Nov. 5.

According to the CIIE Bureau, more than 70 countries and international organizations have confirmed their participation in the country exhibition section of the CIIE. Norway, Slovakia, Benin, Burundi, Madagascar and UNICEF will participate for the first time, and the total number of exhibitors in the section is expected to exceed that of the sixth CIIE.

The 7th Hongqiao International Economic Forum, themed “High-Standard Opening up for Universally Beneficial and Inclusive Economic Globalization,” will include a main forum and 19 sub-forums.

Some new debuts at the business exhibition are sure to catch the eyes of many. For example, French firm Michelin will debut a lunar wheel prototype at the Expo for the first time in Asia. The lunar wheel can adapt to extremely harsh conditions on the moon, including temperature differences from day to night.

“In
my opinion, the CIIE not only reflects China’s economic and trade dynamic, but also the country’s determination to promote high-level opening-up, and pursue high-quality development,” Mohammed Tawil, president and CEO of Boehringer-Ingelheim Greater China said.

Mohammed Tawil noted the example of Spevigo, a therapy for treating rare skin diseases. After the therapy debuted at the third CIIE in 2020 as a pipeline product for the company, Sepvigo was officially approved in China in 2022 and simultaneously with the United States and European Union. This year, in March, Spevigo’s new indication was also approved in China, ahead of major markets like the United States, EU, and Japan.

“Boehringer-Ingelheim sees China as a focus market and a source of innovation. We have firmly believed that this market is of high potential, and we firmly believe the resilience of the Chinese market as well. We appreciate the continuous improvement of the business environment that we operate in,” said Mohammed Tawil.

Nicolas Hier
onimus, CEO of French firm L’Oréal, visited the firm’s newly opened intelligent and automatized fulfillment center in Suzhou during his recent trip to China.

According to Hieronimus, the company wants to continue to invest in China not only because it believes in the market’s potential but also because it sees the conditions for doing so and the support it is getting from the authorities.

“For us, CIIE is a unique event, and it’s unique in the world. There is no other event in the world of such magnitude first, but also where L’Oréal is so strongly present, and where we introduce brands, new technologies, innovation, sustainability programs,” said Hieronimus.

As the world’s first national-level import-themed expo, the CIIE attracted representatives from 154 countries, regions, and international organizations last year. More than 3,400 enterprises took part in the business exhibition.

Source: The Namibia Press Agency

Cross border RMB use up over 20 pct in first eight months of 2024: report

The renminbi (RMB) has been used more frequently in cross-border trade in the first eight months of this year amid the growing presence of the Chinese currency in the global market, a central bank report showed.

The People’s Bank of China’s 2024 report on the internalization of RMB reported that cross-border RMB payments and receipts expanded 21.1 percent year on year to 41.6 trillion yuan (5.94 trillion U.S. dollars) in the January-August period.

According to the report, in the first eight months, cross-border RMB payments and receipts in trade in goods accounted for 26.5 percent of the total settlement of local and foreign currencies in the same period, up from 24.8 percent in 2023.

For trade in services, cross-border RMB use increased 22.3 percent year on year to 1.2 trillion yuan, accounting for 31.8 percent of the total.

The report also noted improvements in RMB’s function in terms of investment and financing. By the end of August, foreign investors held around 4.6 trillion yuan of Chinese bonds, acc
ounting for 2.7 percent of the total domestic bonds in custody.

Cross-border RMB settlement for major commodities amounted to 1.5 trillion yuan in the eight-month reporting period, a 22.7 percent year-on-year increase.

For the next stage, the central bank said it will improve the fundamental institutional arrangements for the cross-border use of RMB, further open up the financial market, strengthen financial infrastructures and enhance regulation over cross-border RMB businesses.

Source: The Namibia Press Agency

Xinhua Headlines: Escalating climate crisis in Europe calls for closer int’l cooperation

Storm-triggered floods hit central Bosnia and Herzegovina on Friday, killing 19 people and leaving many others missing along the Neretva River, one of the country’s major waterways.

At the same time, several Central European countries have been recovering from their worst flooding in over two decades.

Extreme heat waves and flash floods are becoming increasingly common on the continent, which used to enjoy mild weather conditions.

“There’s evidence that they’re increasing in severity,” Professor Manoj Joshi, an expert in climate dynamics at the School of Environmental Sciences at the University of East Anglia in Britain, has told Xinhua.

Experts have called for closer international efforts to build resilient infrastructure and reduce greenhouse gas emissions.

EXTREME WEATHER ACROSS EUROPE

In recent months, countries such as Poland, Austria, the Czech Republic, and Romania have also experienced catastrophic floods, resulting in dozens of casualties, economic damage, and widespread disruptions.

Poland, o
ne of the hardest-hit countries, has suffered damage worth approximately 9 billion U.S. dollars, equivalent to about one percent of its GDP.

In Lower Austria, villages were evacuated and a dam failed as floods inundated areas. The consequent damage to sewer systems left 1,500 people without proper sewage services.

In the Czech Republic, floods began on Sept. 13, prompting thousands to evacuate. Romania reported seven deaths as floodwaters submerged entire villages, turning streets into rivers, and heavily damaging local infrastructure.

In Italy, cities such as Rome, Naples, and Florence experienced record-high temperatures. This marks the third consecutive year of such extreme heat, with the first heatwave of 2024 arriving even before the routine start of summer. In Sicily, extreme water shortages coming along with heatwaves prompted tourist cities to advise visitors to leave, signaling the severity of the drought crisis.

According to Katja Klancar, a meteorologist at the States’ Agency for the Environmen
t in Slovenia, Europe is warming at the fastest rate of all continents and thus facing more intense and frequent heatwaves, droughts and downpours.

“While heat waves and extreme temperatures have natural causes, climate change amplifies their frequency, intensity, and duration. The current global temperature increase of 1.2 Celcius degrees is altering regional temperature patterns, as seen in Romania,” Bogdan Antonescu, an atmospheric physics expert, from Romania’s National Research and Development Institute for Earth Physics, told Xinhua.

Dr. Aleksandra Kardas from the University of Warsaw emphasizes that global warming is accelerating the water cycle, causing more intense rainfall in already wet areas and exacerbating droughts in some regions. “Warmer temperatures increase evaporation and the probability of heavy downpours, but they don’t alleviate drought problems; they make them worse.”

Fifty years ago, the zero-degree level sat at around 600 meters above sea level. Today, with warmer winters, the leve
l has risen to around 850 meters. The Swiss Climate Change Scenarios CH2018 predict that the zero-degree level will climb a further 400-650 meters by 2060 without climate change mitigation, which will take the level to a shocking altitude of around 1,300-1,500 meters.

GROWING IMPACT OF CLIMATE CHANGE

The escalating extreme weather in Europe, from storms and hail to floods and heatwaves, is a warning sign of the growing impact of climate change.

“Improving forecasts is vital, but translating them into effective actions remains the most important. Reducing emissions and enhancing preparedness are essential to mitigating future flood impacts,” Jeff Da Costa, a climate scientist at the University of Reading in England, told Xinhua.

Prof. Artur Magnuszewski, a hydrologist from the University of Warsaw, pointed out the relationship between human lifestyle and an increasingly harsh nature. “The ‘urban heat island’ effect, caused by rapid city development and sealed surfaces, has worsened the situation. Cities ab
sorb heat and intensify convective currents, leading to more severe thunderstorms and downpours that overwhelm outdated sewer systems,” he said.

According to the recently released 8th edition of the EU Copernicus Ocean State Report, due to the influence of greenhouse gas emissions caused by human activities, the global ocean is warming at an accelerating rate, with its warming rate nearly doubling since 2005.

The report emphasizes that ocean changes not only affect marine ecosystems but also have significant impacts on the Earth’s climate system.

Research from Newcastle University indicates that by the end of the century, Europe could experience up to 14 times more frequent slow-moving storms, bringing heavy rainfall and causing floods.

“Such extreme events are becoming more common,” said Prof. Szymon Malinowski from the University of Warsaw. “Addressing climate change requires not only large-scale efforts but also rethinking urban planning and developing sustainable city structures to better handle the c
hallenges of a warming world.”

SPEEDY ACTIONS IN URGENT NEED

Many climate experts cited the recent severe flooding in Central and Eastern Europe as a testament to the urgent need to adapt to a rapidly changing climate.

Prof. Joshi called for speedy actions and government commitment to reach the net-zero emissions targets they have set. “Lots of countries have net-zero trajectories. Whether we are doing enough or not, that’s now a political question or even a moral question,” he said.

He highlighted the importance of translating public awareness into policy action, as society increasingly recognizes the urgent need to address climate change.

In light of the recent extreme weather events, European governments have taken active action. For example, Poland launched “Operation Phoenix,” mobilizing over 26,000 soldiers to assist flood relief efforts. The European Commission has also announced a 10-billion-euro fund to support EU member states affected by floods.

Globally, more also needs to be done. The Inter
governmental Panel on Climate Change has stressed the need for international policies that focus not only on mitigating climate change through emissions reductions but also on adaptation measures to strengthen resilience against extreme weather.

Climate scientist Jeff Da Costa voiced a similar view. He said nations should collaborate on cross-border flood management strategies and work towards global emission reduction commitments. “Enhancing early warning systems and communication channels during emergencies is essential for protecting lives and property. International cooperation is also critical, as climate change knows no borders,” he said.

“Building resilient infrastructure, reducing greenhouse gas emissions, and developing comprehensive disaster risk management strategies are key. As extreme weather events become more frequent, proactive measures are necessary to address the challenges they pose,” Da Costa said.

Source: The Namibia Press Agency

Global South, East have bigger say in global decision making: Lavrov

The Global South and the East are playing a growing role in global decision-making, Russian Foreign Minister Sergei Lavrov said in an article published this week.

This trend is becoming more relevant as the West “methodically destroys the very model of globalization it created,” Lavrov said in the article carried by the latest edition of the journal Russia in Global Affairs.

“The global majority understands that confrontation and hegemony will not solve any global problems,” Lavrov said, highlighting the strengthening role of intergovernmental associations in Asia, Africa, and Latin America.

“These objective processes will have to be taken into account in the work of the G20, where the G7 can no longer ‘call the tune,'” Lavrov said.

Source: The Namibia Press Agency