The global initiatives proposed by China will benefit countries around the world, as they enable every country to play a constructive role in the pursuit of peace and common prosperity, said former Lebanese Prime Minister Hassan Diab in an exclusive interview with China Media Group (CMG) in Guangzhou, south China's Guangdong Province.
Proposed by Chinese President Xi Jinping, the trio of global initiatives, namely the Global Development Initiative (GDI), the Global Security Initiative (GSI) and the Global Civilization Initiative (GCI), reflects his vision of a more inclusive, equitable and harmonious world order.
"I think it's commendable, especially what China is seeking is an inclusive peaceful world that has a place for everybody. We're not talking about just big countries, but even the small ones. This gives a sense of relaxation on the level of countries, such as Lebanon, that China can be part of pushing for this peaceful world where everybody has a chance to be proactive and play a positive role," said Diab.
China's global initiatives seek peace, prosperity for all countries: former Lebanese PM
China's global initiatives seek peace, prosperity for all countries: former Lebanese PM
Wall Street is feeling the heat as concerns over a potential "Trump recession" grow, driven by a series of aggressive tariff policies introduced earlier by U.S. President Donald Trump.
Business and consumer confidence have taken a hit, leading to widespread losses among the "Magnificent 7" tech giants. Meanwhile, with the Dow, S and P 500, and Nasdaq remaining under pressure, investors are increasingly worried that escalating unilateral trade policies could push the U.S. into an economic downturn.
The term "Magnificent 7" stocks refers to seven dominant tech companies - Apple, Microsoft, Amazon, Alphabet (Google's parent company), Meta (formerly the Facebook company), Nvidia, and Tesla - that have played a crucial role in driving market growth.
As of March 14, comparing the lowest and highest stock prices this year, Apple's stock has dropped by 16.24 percent, Nvidia by 31.58 percent, Microsoft by 15.78 percent, Amazon by 21.30 percent, Alphabet by 21.98 percent, Tesla by 50.64 percent, and Meta by 20.85 percent. According to a report by CNBC on March 14, the "Magnificent 7" tech giants have collectively lost 2.7 trillion U.S. dollars in market value over the past three weeks.
According to a report by CNBC on March 14, the "Magnificent 7" tech giants have collectively lost 2.7 trillion U.S. dollars in market value over the past three weeks.
The Trump administration's tariff policies are severely undermining investor confidence in U.S. assets, ultimately backfiring on the country itself.
This week, the three major indices on the New York Stock Exchange remained under pressure.
Comparing the lowest and highest points this year, the Nasdaq Composite Index has fallen by 14.31 percent and has been declining for four consecutive weeks. The S and P 500 Index has also dropped for four straight weeks, down 10.45 percent. Meanwhile, the Dow Jones Industrial Average has fallen for two consecutive weeks, declining by 9.7 percent.
US stock market under pressure as tariff policies fuel recession fears
