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Timor-Leste president fully endorses Xi’s concept of community with shared future

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Timor-Leste president fully endorses Xi’s concept of community with shared future

2024-08-03 17:08 Last Updated At:18:17

Timor-Leste's President Jose Ramos-Horta has lauded the concept of a "community with a shared future for all humankind" championed by Chinese President Xi Jinping, saying it plays a crucial role in balancing economic growth with social well-being and environmental protection.

President Xi put forward the concept of a community with a shared future for mankind to foster collaboration among countries and address shared economic challenges and opportunities.Three major initiatives -- Global Security Initiative (GSI), Global Development Initiative (GDI) and Global Civilization Initiative (GCI) -- were proposed by Xi in 2022, 2021 and 2023 respectively, aiming to enhance global cooperation in various fields to realize common prosperity.

In an interview during his just concluded state visit to China, Ramos-Horta stressed the need for economic and social development that benefits everyone.

"The concept of community of shared future articulated by President Xi Jinping, I have read it and I endorse [it] 100 percent. How do we implement it? To realize this, we should stay more focused. Pick five absolute priorities in the third-world Global South. One is clean water for everybody, because there is serious water scarcity in the world. Look at sanitation, because it is the lack of sanitation that kills millions of children around the world; because of bacteria, because all kinds of diseases that affect their growth. Reforestation and general cleaning up of our forest. Renewable energy, which is already underway anyway, and China is a global leader," Ramos-Horta noted.

At the invitation of President Xi, Timor-Leste's president paid a state visit to China from July 28 to 31. This is Ramos-Horta's first visit to China after he took office in 2022 and the first state visit by a Timor-Leste president to China since the establishment of diplomatic ties in 2002.

Timor-Leste president fully endorses Xi’s concept of community with shared future

Timor-Leste president fully endorses Xi’s concept of community with shared future

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OPEC further cuts 2024, 2025 global oil demand forecast

2024-10-15 02:39 Last Updated At:05:17

The Organization of the Petroleum Exporting Countries (OPEC) on Monday further trimmed forecasts for global oil demand growth this year and next, marking the organization's downward revision for the third consecutive month.

In its monthly oil market report for October, OPEC projected a global oil demand growth of 1.93 million barrels per day (bpd) for 2024, down 106,000 bpd from the growth of 2.03 million bpd expected last month.

OPEC attributed the adjustment to "actual data received combined with slightly lower expectations for the oil demand performance in some regions."

Despite the third successive downward revision, OPEC said this year's world oil demand growth is "still well above the historical average of 1.4 million bpd seen before the COVID-19 pandemic."

For next year, the oil-producer group cut its 2025 global oil demand growth estimate to 1.64 million bpd from last month's assessment of 1.74 million bpd.

OPEC twice lowered its forecasts for global oil demand growth in 2024 and 2025 in its monthly market reports published in August and September. Until August, OPEC had maintained its global oil demand growth forecasts of 2.25 million bpd this year and 1.85 million bpd next year since they were first made in July last year.

Last month, eight member countries of OPEC+, a group comprising OPEC and its allies, announced an extension of their voluntary oil production cuts by two months until November. The countries will start to gradually phase out these output cuts from December.

OPEC further cuts 2024, 2025 global oil demand forecast

OPEC further cuts 2024, 2025 global oil demand forecast

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