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China's development, cooperation initiatives benefit world: int'l observers

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China's development, cooperation initiatives benefit world: int'l observers

2025-03-01 17:55 Last Updated At:03-02 15:37

China's sound development and cooperative initiatives have opened up new avenues for countries around the world to pursue a better common future, said international observers.

In a recent interview with China Central Television (CCTV), Bendito dos Santos Freitas, Minister of Foreign Affairs and Cooperation of Timor-Leste, said other countries can learn from China's economic reform and transformation.

"(As for) economic development, China is very strong in terms of innovation, technology, engineering and space exploration. We believe that this powerful economy of China can help other countries to follow the good models of the investment for economic reform and transformation, bringing peace, prosperity and development to the people," he said.

Freitas said he attached great importance to China's upcoming annual sessions of its top legislature and political advisory body, known as the "two sessions".

He also expressed his expectation to see Timor-Leste strengthen cooperation with China in various fields, particularly as the largely agrarian island country seeks to enhance its food security.

"I think all the development principles, all the topics that are proposed during the sessions are very, very important for us. Timor-Leste expects for multi-faceted cooperation with China in various areas, like economic cooperation, infrastructure development, technological cooperation, innovation, human resources. One of the areas that are very important, we are also preferring to have closer cooperation with China, is the agricultural sector. This cooperation, as we see in various spheres, we can really enlarge it for much more cooperation," he said.

Faisal Rashed Al-Ghais, Kuwait's former ambassador to China, pointed out that China has drawn up clear plans for future development and made unremitting efforts to achieve its goals, bringing the countries' tremendous achievements in development.

He highlighted that China-proposed initiatives have also provided a beautiful blueprint for the common development of the world.

"China has come out over the years with several initiatives, beneficial not only to China, but to the world, sometimes to certain regions in the world, to cooperation on a regional and international level," said Al-Ghais.

International experts also emphasized that these initiatives provide a foundation for global efforts to move toward shared goals.

"China has done something the last 40 years that nobody in human history has done. You lifted up people from poverty. You created a welfare society. Belt and Road Initiative, the most interesting cooperative effort in the world today. Humanity has something to buy into and create a common future. Any society in which people's minds are set on creating a better future together will be a better society," said Jan Oberg, the founder of the Transnational Foundation for Peace and Future Research.

China's development, cooperation initiatives benefit world: in'tl officials

China's development, cooperation initiatives benefit world: in'tl officials

The U.S. Senate on Wednesday confirmed Kevin Warsh's nomination as the next chair of the Board of Governors of the Federal Reserve System in a vote of 54-45, placing the 56-year-old financier at the helm of the U.S. central bank as it navigates a complex landscape of surging inflation and geopolitical volatility.

The confirmation follows a Tuesday vote by the Republican-majority Senate to approve Warsh for a 14-year term on the Federal Reserve's seven-member Board of Governors. His formal swearing-in to both positions is pending final signatures from the White House.

Warsh is set to succeed current Fed Chair Jerome Powell, whose leadership term expires on Friday. Although Powell will step down from the chairmanship, he will remain on the Federal Reserve Board as a governor. The leadership transition occurs as the Federal Reserve grapples with intensifying price pressures.

Warsh, born in 1970, is a lawyer and financier who previously served as a Federal Reserve governor from 2006 to 2011, playing a key role in navigating the global financial crisis during that time. His return to the board comes at a time of heightened scrutiny regarding the central bank's political independence.

Warsh is expected to lead his first policy-setting meeting on June 16-17.

Kevin Hassett, director of the National Economic Council, said in a Fox News interview on Sunday that he believes markets are relieved that Warsh "is going to help lower interest rates over time."

"Obviously, data driven. I'm not putting any pressure on Kevin Warsh," Hassett said. "We know that he's an extremely smart, competent person who could be very convincing when he talks to his colleagues."

Warsh has recently signaled a push for changes at the central bank, including closer coordination with the U.S. Treasury Department and a reduction in the Fed's balance sheet.

U.S. Senate confirms Kevin Warsh as next Fed chair

U.S. Senate confirms Kevin Warsh as next Fed chair

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