Bold Gamble
China’s decision to issue a record $411 billion in special treasury bonds in 2025 marks a significant shift in its fiscal strategy, underscoring the urgency of addressing a challenging economic landscape.
The top diplomats of South Korea and China reaffirmed efforts to advance bilateral ties in a phone conversation Tuesday, Seoul’s foreign ministry said, their first discussion following a botched martial law imposition in South Korea on December 3.
The top diplomats of South Korea and China reaffirmed efforts to advance bilateral ties in a phone conversation Tuesday, Seoul’s foreign ministry said, their first discussion following a botched martial law imposition in South Korea on December 3.
The 30-minute talks between Foreign Minister Cho Tae-yul and his Chinese counterpart, Wang Yi, took place amid concerns over their bilateral ties after Beijing said it was “deeply surprised and dissatisfied” over President Yoon Suk Yeol’s December 12 public address accusing Chinese nations of spying.
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In Tuesday’s talks, Cho said the government’s stance on improving South Korea and China’s strategic cooperative partnership remains unchanged under acting President Han Duck-soo, Yonhap news agency reported.
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Cho suggested the two nations cooperate in a range of areas as South Korea is set to host the 2025 Asia-Pacific Economic Cooperation (APEC) summit in its southeastern city of Gyeongju, the ministry said.
In response, Wang noted that improving their relationship in a healthy and stable manner is in line with their mutual national interests, and called for close cooperation and communication to further boost their ties.
Wang reaffirmed Beijing’s support for Seoul’s hosting of next year’s APEC summit, according to the South Korean ministry, with the two foreign ministers also likely to have discussed Chinese President Xi Jinping’s possible visit on the occasion of the gathering.
Both sides agreed to continue to seek strategic communications to manage the situation on the Korean Peninsula in a stable manner, the ministry said.
Tuesday’s talks came about two weeks after the trade ministry hosted a high-level dialogue with China to discuss ways to bolster bilateral exchanges.
On December 10, Fang Kun, the charge d’affaires ad interim of the Chinese Embassy in Seoul, had expressed hope for South Korea’s economic and social stability amid heightened political uncertainty following the botched declaration of martial law.
The remarks were made during a meeting with Deputy Finance Minister Choi Ji-young in Seoul.
“As a close neighbour and an important cooperative partner, we hope for the continued stability of South Korea’s economy and society,” Fang was quoted by the finance ministry as saying.
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