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China makes significant contribution to promoting justice, reforming global governance: expert

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China makes significant contribution to promoting justice, reforming global governance: expert

2024-10-24 22:44 Last Updated At:10-25 01:37

China has made significant contribution to promoting justice and reforming global governance through BRICS and other multilateral mechanisms, an expert said on Thursday.

Zoon Ahmed Khan, a research fellow at the Center for China and Globalization, discussed the role of China, and Chinese solutions in promoting justice and reforming global governance, in an interview with China Global Television Network.

"One of the major contentions between the Global South and the status quo powers, so to speak, has been how institutions, how the framework in financial institutions, development institutions et cetera, limit some countries to the benefit of others. And China's role in these last years, especially I would say since the Belt and Road Initiative, we see China proactively engaging individual countries bilaterally and multilaterally through the GDI (Global Development Initiative), through SCO (Shanghai Cooperation Organization), BRICS, et cetera, proposing tangible solutions to challenges that they face," said Khan.

She emphasized that China is addressing the needs of developing countries and filling the void left by traditional powers with tangible solutions to global challenges.

"I often don't like to, we're not having the China versus U.S. conversation, but the fact is there was a major vacuum when it came to real solutions that developing countries were facing, with respect to how Western countries, that would traditionally posture to help developing countries move forward, there was a vacuum in interest. And these conversations have not been happening in those parts of the world. But China has been actively helping countries find solutions. So, I think when we talk about justice in the international institutions, when we talk about justice in financial institutions, it is firstly, obviously, a conversation of better representation to represent the evolution of the world, with greater economic presence, with greater populations, with greater presence overall," said Khan.

By enabling these nations to set their own agendas, China is reshaping conversations around justice and representation in international institutions.

"But at the same time, it is also a conversation about setting the agenda and countries and organizations that are able to find their own solutions and act on them are in a better position to set the agenda. So, I think, I mean, for China, obviously, when we talk about justice, it is a much deeper conversation. Justice connects security, safety, agriculture, development, socioeconomic development, technology. China's doing a lot within BRICS and beyond to work on that. But at the same time, justice is a conversation about helping, enabling that part of the world, which was usually on the receiving end, set the agenda. And this is where China's role contribution is a game changer, really, for different parts of the world that were not able to set the agenda. And I think in the end, that is what BRICS is also about," said Khan.

China makes significant contribution to promoting justice, reforming global governance: expert

China makes significant contribution to promoting justice, reforming global governance: expert

Slovenia has become the first European Union member state to bring in fuel rationing as a way of managing disruption to supply caused by the conflict in the Middle East.

Under the new measure, customers with private vehicles will be restricted to 50 liters per day with a 200-liter limit for companies and other special cases such as farmers. The government had already begun releasing strategic reserves in an effort to stabilize the market.

Across the country, long queues have formed at petrol stations, with some locations reporting limited availability of diesel. Notices warning customers about shortages have become increasingly common, reflecting the strain on supply chains.

Despite the visible pressure, many drivers said they are not engaging in panic buying.

"I think that's nonsense. Even if the price goes up ten cents it is not a disaster," said Robert, a motorcyclist.

Others, however, expressed concern over how the situation has been handled.

"I wish they would have released fuel reserves sooner and bought more reserves of the fuel for which we knew a month ago there was going to be difficulties," said Severin, a car driver.

Even with the release of strategic fuel reserves, logistical challenges remain a key issue. Many distributors store fuel outside the country, and transport capacity has struggled to keep pace with the recent spike in demand.

Analysts said consumption has increased sharply, driven in part by behavior linked to previous crises.

"They still remember 2022, when the prices were higher for a longer period of time, so they are hoarding the gasoline if they can. They're buying as much as they can, and I think that's the main reason," said Karel Lipnik, a financial analyst at Delo, a national daily newspaper in Slovenia.

Cross-border demand is also contributing to the strain. Slovenia's relatively low fuel prices compared to neighboring countries have attracted foreign buyers, further increasing consumption.

"Slovenia has the lowest price within all the neighboring countries, and it's also spring, so a lot of farmers buy gasoline to do some farming on the fields," Lipnik said.

While fuel prices in Slovenia remain state-regulated, the impact of global market disruptions is becoming increasingly evident. Analysts warned that the period of stable and relatively low fuel prices may be coming to an end, as external shocks continue to influence supply and demand.

Slovenia caps fuel purchases amid energy shortage

Slovenia caps fuel purchases amid energy shortage

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