I guess there's a lever under the red cover and the cable pulls the top of it...then the bottom of that lever pulls the rod that goes to the carb?
I just removed the spark plug and red cover in order to take a look. What a rickety arrangement. It looks like mine was 'serviced' by a previous owner but the fundamentals are probably unchanged. For a start, that large aluminium plate acts as the main 'spring' or tensioner when pushed up against the red cover. The mechanism might go back and forth by quirky design but all the throttle movement ends up doing, is moving that small brass lever, near where the fuel comes in. Here's my latest photo.