China's top political advisor Wang Huning met with Speaker of the Egyptian Senate Essam El Din Ahmed Mohamed Farid in Beijing on Friday.
Wang, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), said that during Chinese President Xi Jinping's successful and historic visit to Egypt, the two heads of state reached broad consensus, charting the course for the development of bilateral
China stands ready to work with Egypt to fully implement the important consensus reached by the two heads of state, carry forward traditional friendship, expand mutually beneficial cooperation, and advance the building of a community with a shared future between the two countries, Wang noted.
The CPPCC National Committee is willing to further strengthen exchanges and interactions with the Egyptian side and contribute to the development of the China-Egypt comprehensive strategic partnership, he said.
For his part, Farid stated that over the past 70 years, relations between Egypt and China have maintained healthy and steady development, yielding fruitful results in cooperation.
Egypt firmly adheres to the one-China principle and is willing to actively participate in the building of the Belt and Road initiative, strengthening cooperation with China in economy, trade, science and technology, he added.
The Egyptian Senate is ready to enhance exchanges with the CPPCC National Committee and actively participate in events like the China Economic and Social Forum to boost the economic and social development of both countries, he said.
China's top political advisor meets Egyptian Senate speaker
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
