CMG hosts dialogue in Senegal to explore opportunities from Chinese modernization

China Media Group (CMG) on Thursday convened a high-profile dialogue in Dakar, Senegal, bringing together leaders from politics, business, academia, and media to delve into how Chinese modernization could unlock new opportunities for Africa.

The event is part of CMG's "China in Spring Time: Sharing Opportunities with the World" Global Dialogue series.

Around 70 representatives from China and Senegal exchanged insights on how Chinese modernization can provide opportunities and inspiration for Africa's development.

Speaking via video link, CMG President Shen Haixiong emphasized that no country can tackle global challenges alone.

"Open-source sharing" should replace "closed operation" and "win-win cooperation" should replace "decoupling", said Shen, adding that China cannot be separated from the world in achieving development, and the world also needs China for prosperity.

Aldiouma Sow, Ministerial Adviser to the President of Senegal, emphasized the timeliness of the dialogue hosted by CMG, highlighting Africa and China's collaboration not only in the economic and trade sectors, but also in cultural and people-to-people exchanges.

Sow noted that Senegal and China share common values, including a vision of building a human community with a shared future, supported by the global initiatives proposed by Chinese President Xi Jinping, which hold great significance for Senegal and other African nations.

Other African attendees also expressed the hope that China could strengthen cooperation with the continent to help promote Africa's economic development.

"China's presence in Africa basically cuts across three key areas - political cooperation, economic cooperation and cultural cooperation. China relates with African countries as equals, as partners in development. China, for now, is a major economic player in the world. You cannot rule China out as far as global economy is concerned. And China is trying its best to share that progress with countries in Africa, and that's a good way to go," said Fyneface Onengiyeofori, Head of English Desk of the African Union of Broadcasting.

"We need to organize such events more often. They are very useful for mutual understanding and people-to-people contact. We believe that our Chinese friends will help African countries to get out of poverty and develop our own economy and industry. Nowadays, more and more Chinese-funded companies are setting up in Africa, which will boost our economy and industry. We hope that we can strengthen our cooperation with China in all aspects, which will help young people to understand more about the development of China," said Assane Mbengue, president of the Federation of China-Africa Friendship Associations (FAACA).

Meanwhile, Senegalese university representatives engaged in discussions with attending guests on topics such as China's success in overcoming poverty and its efforts to promote Chinese modernization.

Attendees also watched the international promotional video for China's blockbuster animated film "Ne Zha 2" and highlights from CMG's documentary "Charting the Decade," which showcased China's transformation over the past ten years and explored how its experiences could inspire the world.

CMG hosts dialogue in Senegal to explore opportunities from Chinese modernization

Japan's reliance on U.S. economic policy is allowing foreign funds to acquire Japanese assets at bargain prices, according to Japanese economist Kazuhide Uekusa.

He warned that the government's economic and defense strategies prioritize foreign capital and political profits over public welfare, failing to bring true prosperity to ordinary citizens.

The Bank of Japan (BOJ) on Friday raised its policy interest rate by 0.25 percentage points to 1.25 percent, the highest in about 31 years, following a two-day board meeting.

According to Uekusa, the timing of the shift aligns perfectly with the interests of large American funds.

"The Takaichi Cabinet has been reluctant to raise interest rates, thus allowing the yen to continue to depreciate. I think this is actually equivalent to helping foreign capital purchase Japanese assets at a low price. However, U.S. Treasury Secretary Scott Bessent has recently made a clear adjustment to the policy direction of the U.S. dollar against the Japanese yen, promoting the appreciation of the Japanese yen. The reason is that some large funds in the United States have basically completed their investment layout in Japanese assets," said Uekusa.

Uekusa also said Japan cannot attempt to revitalize its economy by expanding military spending and supporting the defense industry, and such a military buildup strategy is unlikely to bring about true prosperity and stability.

"I think it is true that the Japanese economy has been stagnant for a long time. However, to expand military spending in an attempt to revitalize the economy is, in my opinion, an extremely foolish and even crazy move. To achieve peace and stability in Japan, the foundation should be to establish friendly relations with neighboring countries rather than military expansion. The reason why the Japanese government attaches so much importance to the military industry is that it can generate huge profits, and a part of these profits may flow back to political parties or political figures through various means. I don't think this is at all for the benefit of the people," he said.

Japanese economist criticizes gov't policies for enabling cheap asset sales to foreign funds