China's top political advisor meets King of Jordan

People's Daily ^ | 09/15/2013 | Xinhua

[TexGrill]

YINCHUAN, Sept. 15 (Xinhua) -- China's top political advisor Yu Zhengsheng met on Sunday with King of Jordan Abdullah II ibn Al-Hussein on the sidelines of a China-Arab State Expo in Yinchuan in northwest China's Ningxia Hui Autonomous Region.

Yu, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), spoke highly of the long-term friendship between China and Jordan. He said the king has visited China seven times, which showcased the high importance he attached to relationship with China. He added the China visit of the king will promote further development of the bilateral ties.

Yu noted China highly values relationship with Jordan, and will continue to strengthen their cooperation in all areas so as to benefit the two peoples.

The chairman also welcomed the king's attendance to the expo, saying he hoped the expo could become an effective platform to enhance the mutual understanding, trade and economic cooperation, and common development of China and Arab states,through active participation and support from both sides.

The first China-Arab State Expo, a key platform for promoting trade between China and the Muslim world, opened on Sunday morning in Yinchuan, capital city of the Ningxia Hui Autonomous Region, which is home to more than 10 percent of China's 20 million Muslims. Yu attended the opening ceremony and delivered a speech.

[TexGrill]

Global business tip

[DIRTYSECRET]

What does Jordan have to offer China?

[cripplecreek]

I believe tourism is a large part of the Jordanian economy.

From the CIA World Factbook.

Jordan's economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources, underlying the government's heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of poverty, unemployment, inflation, and a large budget deficit. Since assuming the throne in 1999, King ABDALLAH has implemented significant economic reforms, such as opening the trade regime, privatizing state-owned companies, and eliminating some fuel subsidies, which in the last decade spurred economic growth by attracting foreign investment and creating some jobs. The global economic slowdown and regional turmoil, however, have depressed Jordan''s GDP growth, impacting export-oriented sectors, construction, and tourism. In 2011 and 2012, the government approved two economic relief packages and a budgetary supplement, meant to improve the living conditions for the middle and poor classes. Jordan''s finances have also been strained by a series of natural gas pipeline attacks in Egypt, causing Jordan to substitute more expensive diesel imports, primarily from Saudi Arabia, to generate electricity. Jordan is currently exploring nuclear power generation in addition to the exploitation of abundant oil shale reserves and renewable technologies to forestall energy shortfalls. In 2012, to correct budgetary and balance of payments imbalances, Jordan entered into a $2.1 billion, multiple year International Monetary Fund Stand-By Arrangement. Jordan''s financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. Jordan will continue to depend heavily on foreign assistance to finance the deficit in 2013.

Abdulla appears to be a better capitalist than our prezzy.