US, China Sign Agreement To Foster Cooperation On Development Lost amid the coverage of Pope Francis’ visit to the US and more controversial issues related to US-Sino relations was an agreement reached between China and US to increase cooperation on global development issues.
The memorandum of understanding signed on September 25 provides a framework for strengthening bilateral cooperation on issues such as ending poverty and hunger, promoting sustainable development, and implementing the UN 2030 Agenda for Sustainable Development.
“As we move forward, USAID believes our development cooperation with China will continue to deepen based on mutual respect for local partners and international standards, strong and consistent communication, and a shared commitment to results and accountability,” said U.S. Agency for International Development (USAID) Acting Administrator Alfonso Lenhardt.
While acknowledging the MOU is not a binding agreement, Paul O’Brien, vice president for policy and campaigns at Oxfam America, said his “instinct is that this is a really important step, but an early step in the right direction.”
China’s Stock Market Crash Causes Concern About Global Capitalism
A slowing of the Chinese economy and last summer’s stock market crash is causing concern among some analysts who believe that the intense intervention by China’s regulators and central bank was only a temporary measure designed to prevent a more extreme sell-off.
In fact, Walden Bello writes in Foreign Policy In Focus that the Beijing stock market collapse “marks the deepening of a new stage in the contemporary crisis of global capitalism” not witnessed since the financial crisis of 2008.
While China has survived the stock market decline, dissatisfaction and consternation remains strong within China’s middle class and that could prove potentially politically toxic.
“Indeed, China’s modern middle class — which emerged only in the last quarter-century of rapid growth — has no experience with the grim prospects of a real economic downturn. Added ingredients to this volatile brew are increasing mass protests by peasants and workers over a variety of grievances, including environmental pollution, land-grabbing by local authorities, and lack of workers’ rights,” notes Bello.
According to the China Labor Bulletin, the 1,378 strikes in 2014 strikes have doubled 2013’s numbers and tripled 2012’s.
Catholic Priest Who Uncovers Nazi Graves Sees Parallels In ISIS
French Catholic priest Father Patrick Desbois spoke with CBS News’ 60 Miuntes program about his 13-year quest to track down sites where victims of the Holocaust have laid unearthed for 70 years.
In talking to correspondent Lara Logan, he says his work is even more important because “it’s not the past, unfortunately,” adding that genocide is a human disease that “sleeps and awakens from one generation to the next.”
“It is not the same ideology, but it is the same disease,” he says, adding that there’s a direct line between “what the Nazis did 70 years ago and what ISIS is doing today.”