Chinese President Xi Jinping calls for a secure global supply chain

Chinese President Xi Jinping called on nations to secure global supply chains and prevent inflation shocks, as the leader of the world’s No 2 economy seeks a smooth path to clinching a precedent-defying third term in power.

He also pushed for joint efforts to overcome the Covid-19 pandemic while ensuring fair distribution of vaccines and expedited inoculation across the world, even as he warned against any blame game and the Cold War mentality in an apparent reference to the US. He said that holding each other back or shifting blame would only lead to a needless delay in the response and also distract us from the main objective.

Speaking at the World Economic Forum via video link, Xi stressed: “We need to resolve various risks and promote the steady recovery of the world economy.” This was the third time the Chinese leader addressed the event. 

“The global industrial and supply chains have been disrupted,” he said. “Commodity prices continue to rise. Energy supply remains tight. These risks compound one another and heighten the uncertainty about the economic recovery.”

An energy crunch in China’s border nation Kazakhstan led to Russian troops being enlisted to help crush a public uprising earlier this month, bringing supply chain risks to Beijing’s back door. China is seeking to eliminate economic and diplomatic risks as Xi prepares to keep power at the ruling Communist Party’s leadership congress in the second half of this year. 

Xi also warned about global inflation risks and the knock-on effects of higher interest rates.

“If major economies slam on the brakes or take a U-turn in their monetary policies, there would be serious negative spillovers,” he said. “They would present challenges to global economic and financial stability, and developing countries would bear the brunt of it.”

Fauci: Masks on faces are not forever

Chief Medical Advisor to the United States’ President, Dr Anthony S Fauci said while it was difficult to predict as yet what could be the new normal, he does not think that people will roam around with their masks on forever. 

“Omicron is highly transmissible, but apparently not very pathogenic. While I hope that remains the case, but that would depend on what new variants emerge going forward,” he said. (Agencies)