Chinese leader Xi Jinping warns Davos forum against ‘new Cold War’

Chinese leader Xi Jinping warns Davos forum against ‘new Cold War’
Chinese President Xi Jinping warned global leaders at an all-virtual Davos forum against starting a ‘new Cold War’ while he championed multilateralism. (World Economic Forum/AFP)
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Updated 26 January 2021

Chinese leader Xi Jinping warns Davos forum against ‘new Cold War’

Chinese leader Xi Jinping warns Davos forum against ‘new Cold War’
  • Xi Jinping presents himself as the defender of multilateralism

PARIS: Chinese President Xi Jinping warned global leaders at an all-virtual Davos forum Monday against starting a “new Cold War” while he championed multilateralism.
Representing the only major economy to record economic growth last year, Xi presented himself as the defender of multilateralism, as he did at the same forum four years ago when Donald Trump was about to assume the US presidency.
Without naming the United States, Xi seemed to have a message for Trump’s successor Joe Biden, who entered the White House just a few days ago, but who is not addressing the annual World Economic Forum (WEF).
“To build small cliques or start a new Cold War, to reject, threaten or intimidate others... will only push the world into division,” Xi told the world’s political and economic elite as the Biden administration plans to revitalize global alliances to counter China’s growing influence.
Trump had chosen open confrontation and verbal attacks, without tangible results for the enormous US trade deficit with China.
Though Biden may be dismantling one by one the controversial measures of the Trump era, he has nonetheless signaled the United States will closely look out for its own interests.
An executive order is to give US companies and products priority in contracting with the federal government as part of an overall plan to save industrial jobs by increasing investments in factories and workers.
Meanwhile, European leaders presented agendas of their own at the WEF — normally held in the Swiss ski resort of Davos but taking place virtually this year because of the pandemic.
German Economy Minister Peter Altmaier defended a controversial accord signed by the European Union and China in late December to provide increased mutual market access.
The deal duplicates “a lot of the arrangements that the US already has with China,” Altmaier said.
Herbert Diess, head of the German auto giant Volkswagen, which has several plants in China, noted that the country represented a great opportunity for European companies.
But some members of the European Parliament and activist groups say the accord should be contingent on Beijing’s ratifying international conventions banning forced labor.
And Kenneth Roth, head of Human Rights Watch, a non-governmental organization, commented on Twitter that Xi “promotes global collaboration on Covid-19, so long as it doesn’t involve investigating his three-week cover-up of human-to-human transmission in Wuhan, which enabled the virus to go global.”
A year ago, the emergence of a mysterious flu-like disease in China prompted few comments at the forum when it took place at its usual site in Switzerland.
A year later, the world is still struggling to contain the coronavirus, which has killed more than two million people and cost 225 million jobs, according to the UN’s International Labour Organization.
The world’s richest people have barely been touched, the non-governmental organization Oxfam charged.
Meanwhile, “it could take more than a decade for the world’s poorest to recover,” Oxfam said in the study titled “The Inequality Virus.”
Optimism raised late last year by new vaccines has been tempered by production delays and new variants, and many countries are again mulling lockdowns to stem the spread of the virus.
But European Central Bank chief Christine Lagarde nonetheless forecast that 2021 will be “the year of recovery.”
She said that while renewed economic activity “seems to be a little bit delayed,” it “should not be derailed.”
Other forum subjects broached on the first day was global taxation of digital giants, a priority for France that until recently has been opposed by the United States.
French Economy Minister Bruno Le Maire welcomed a more conciliatory tone from the new Biden administration on the subject.
He hoped that a multilateral accord under the auspices of the Organization for Economic Cooperation and Development could be reached by the middle of this year.


SGI offers immense opportunities in recycling, waste management sectors

SGI offers immense opportunities in recycling, waste management sectors
Updated 17 min 33 sec ago

SGI offers immense opportunities in recycling, waste management sectors

SGI offers immense opportunities in recycling, waste management sectors

RIYADH: The Saudi Green Initiative is a great opportunity to create new ways of managing our industries, said Mohammed Alibrahim, Saudi Arabia’s assistant minister for oil and gas.

Speaking at a panel discussed titled “Carbon-intensive industries: Transitioning fast, at scale” held in Riyadh on Saturday, he said the circular carbon economy is at the heart of the initiative.

He said before the launch of the green initiative, the Kingdom already embarked on an ambitious drive to improve energy efficiency in its industrial sector and achieved encouraging results. He said the chemicals, steel, and cement industries in the Kingdom have reduced emissions by about 4 million tonnes per annum.

The assistant minister said the new initiative offers several investment opportunities in recycling and waste management.

For example, he added, SABIC has already built a plant to capture 500,000 tons of carbon dioxide per annum, the gas is then purified and used to produce more chemicals and for many other purposes in different sectors, Alibrahim said.

He said the Saudi Green Initiative and the circle of carbon economy allow us to utilize carbon as a resource rather than looking at it as a problem.

“We have targets to product green hydrogen and blue hydrogen to convert it into blue ammonia, we already shipped ammonia to Japan last year and and we have a plan to expand on that.”

“We don’t want to focus on a certain type of technology.”

Paddy Padmanathan, CEO of ACWA Power, said: “The pathway is ultimately green hydrogen, the real need is energy and even that will be needing electricity, basic ingredient is already available.” 

He called on all stakeholders to create a supporting ecosystem.

“We can really transform industrial consumption when we bring hydrogen costs down to below $2 per kilo and it is achievable.”

Jasper Graf von Hardenberg, co-founder and group CEO of Daystar, US, said: “Saudi Arabia has bigger responsibility, it can become the world No.1 producer of green hydrogen.”

Morten Dyrholm, GSVP for MarCom, Sustainability and Public Affairs, Vestas Wind Systems A/S, Denmark, said: “With this plan Saudi Arabia is placing itself at the center and we want to be part of this journey.”

“As companies we need to take responsibilities with targets of net zero emissions through production.”

“Now with all policies coming up in Saudi Arabia there are signals that the Kingdom is heading to become more sustainable.”


NEOM will be ready to welcome tourists and investors by 2024: CEO

NEOM will be ready to welcome tourists and investors by 2024: CEO
Updated 23 October 2021

NEOM will be ready to welcome tourists and investors by 2024: CEO

NEOM will be ready to welcome tourists and investors by 2024: CEO

The city of NEOM will be ready by 2024 to receive tourists and investors, the CEO of the project has announced.

“We spent two years transforming the vision into a strategy, as this strategy concerns all sectors of NEOM,” Nadhmi Al-nasr said in an interview with Asharq.

"We finished last year with strategies, then moved on to planning and implementation and now we have entered the implementation phase,” Al-nasr added.

NEOM is set to is located on the Red Sea coast in the northwest of Saudi Arabia, and is set to be totally powered by renewable energy sources.


Azerbaijan sees oil market stable, OPEC+ current output increase enough

Azerbaijan sees oil market stable, OPEC+ current output increase enough
Updated 23 October 2021

Azerbaijan sees oil market stable, OPEC+ current output increase enough

Azerbaijan sees oil market stable, OPEC+ current output increase enough

Riyadh: Azerbaijan believes OPEC+ is helping to stabilize the world’s oil market with its cautious decision to increase production by 400,000 barrels per day from November. 

Speaking to Arab News, the country’s energy minister warned that it is gas prices that are more volatile thanks to shortages of the energy source in Europe. 

Parviz Shahbazov said the members of OPEC+ — which includes Azerbaijan — are all in agreement about the restrained oil production rise, despite calls from the US to ramp up output.

He said that the reason “nobody talks about oil issues” is because “there is a balance in the market and this balance has been provided by OPEC+”.

He added: “It can be a little bit higher or lower, it is not so important for producing countries as well as for consuming countries because the most important thing is the stability in the oil market.”

The minister said the issues related to the increasing price of gas might continue past winter. 

“Most probably we will still have this crisis in winter time, I don’t know how severe will it be but as winter is coming and the weather is getting colder — the winter is going to be quite severe in Europe — there can be shortages of gas because gas storages are not filled before the winter season,” said Shahbazov.


Pakistan’s PM leaves for Saudi Arabia to attend ‘Middle East Green Initiative Summit’


Pakistan’s PM leaves for Saudi Arabia to attend ‘Middle East Green Initiative Summit’

Updated 23 October 2021

Pakistan’s PM leaves for Saudi Arabia to attend ‘Middle East Green Initiative Summit’


Pakistan’s PM leaves for Saudi Arabia to attend ‘Middle East Green Initiative Summit’


CAIRO: Pakistan’s Prime Minister Imran Khan left for a three-day visit to Saudi Arabia on Sunday to attend the launch of the “Middle East Green Initiative Summit” in Riyadh, Pakistan’s Foreign Office said in a statement.

Khan left with Foreign Minister Shah Mahmood Qureshi, Energy Minister Hammad Azhar, and Malik Amin Aslam, PM’s adviser on climate change. 

“An initiative of the (Saudi) crown prince, the summit is the first of its kind in the Middle East region,” the statement said.

The Prime Minister Office said that Saudi Crown Prince Mohammed bin Salman had extended the invitation to the premier to attend the event on Oct. 25.

Khan, who made Pakistan a “Champions for Nature”, will share his perspective on the challenges faced by developing countries due to climate change, the statement said. 

He will also highlight Pakistan’s experience of launching “nature-based solutions” to address environmental challenges.


Saudi youth are 'empowered' to drive sustainable change, says energy minister

Saudi youth are 'empowered' to drive sustainable change, says energy minister
Updated 23 October 2021

Saudi youth are 'empowered' to drive sustainable change, says energy minister

Saudi youth are 'empowered' to drive sustainable change, says energy minister

RIYADH: Youngsters in Saudi Arabia are working "day and night" to deliver environmental changes in the Kingdom, the country's minister of energy has said as he praised Crown Prince Mohammed bin Salman's leadership.

Speaking at the Saudi Green Initiative Forum on Saturday, Prince Abdulaziz bin Salman reserved special praise for the country's youth.

Addressing the event in Riyadh, he said: “Whatever you see today in Saudi Arabia, whatever you see tomorrow in Saudi Arabia, is not the work of myself or my generation or the generations that just preceded me or the generation that just came after me, I am empowered by a young leader who has the vision and he is the owner of that vision, Vision 2030."

The minister highlighted the influence of the Kingdom’s vision on its youth, saying: “The empowerment has spread in Saudi Arabia to the many youngsters that you saw in the gallery and the many youngsters that are working day and night delivering, not for my future, but for their own future and I’m proud to say that in Saudi Arabia, it’s not the men in Saudi Arabia, it’s actually the women and men of Saudi Arabia that will deliver the future that we are all aspiring for.”