China And Russia Slams The West, Declare War On Sanctions And Denounces Barriers

China And Russia Slams The West, Declare War On Sanctions And Denounces Barriers

#china #economy #crisis

Chinese President Xi Jinping recently expressed his concerns over certain Western nations considering distancing themselves from China's robust economy. He underscored the need to perceive China's expansive growth not as a looming threat but rather as a valuable global asset. This sentiment took center stage at the opening of the Belt and Road Initiative forum held in Beijing.

A significant milestone, this forum marked the 10th anniversary of this ambitious initiative, which was established with the vision of forging strong infrastructure and energy ties spanning Asia, Africa, and Europe.

In his address, President Xi not only extolled the transformative impact and potential of the Belt and Road Initiative but also drew attention to the significant role it has played in bridging gaps and fostering meaningful connections on a global scale. Navigating through the currents of global economic discourse, Xi highlighted some concerns. He remarked, "We firmly stand against any measures that aim to create economic barriers.

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Taking a broader perspective on global development and cooperation, Xi shared a compelling viewpoint. He emphasized that adopting a stance where nations view each other's advancements with suspicion or perceive economic partnerships as risks is counterproductive.

Such a perspective, he stressed, will not usher in better opportunities or expedited growth for any nation. Further condensing his vision of global prosperity, Xi articulated, "The essence of our viewpoint is interconnected prosperity. China's success is deeply intertwined with global success. A prosperous China acts as a catalyst, amplifying global growth and well-being."

Now, unto another crucial aspect of China's economic strategy, President Xi Jinping has laid out concrete steps to attract more foreign investments, especially in the wake of a decline that saw foreign investment levels reach their lowest in 25 years.

Reinforcing China's commitment to open markets, Xi announced plans to ease the existing investment constraints, thereby fostering enhanced trade relationships. He stated, "We aim to lift any limitations on foreign investments, particularly in the manufacturing sector."

Furthermore, he envisions creating an environment where there's increased cross-border trade and investment in services. He also highlighted plans to broaden the market horizon for digital products.

President Xi also unveiled an array of reforms targeting various sectors. This includes reforms for state-owned enterprises, adaptations in the digital realm, fortifications of intellectual property rights, and an overhaul of the government procurement process.

In addition to these measures, the Chinese president reiterated the nation's commitment to bolstering developing economies. Emphasizing the strength and potential of the Belt and Road Initiative, he pledged that China would infuse billions of dollars into these economies, further solidifying ties and promoting shared prosperity.

Now, the forum, commemorating the 10-year milestone of President Xi Jinping's visionary initiative—dubbed the "project of the century"—has garnered significant global attention. It's a testament to its influence that leaders and representatives from over 130 nations have come together to participate.

Among the attendees are several high-profile global leaders. Some of the noteworthy figures gracing the event are Russian President Vladimir Putin, Indonesia's President Joko Widodo, Serbian President Aleksandar Vucic, Egyptian Prime Minister Mostafa Madbouly, and Prime Minister Anwaar-ul-Haq Kakar of Pakistan.

Before the forum's commencement, a meeting between President Xi and his Russian counterpart, Vladimir Putin, took place. Xi, who often refers to Putin as a "dear friend," emphasized the unwavering bond between their nations.

As reported, "Our nations share a deepening political mutual trust," and he extolled the "close and effective strategic coordination" that exists between them. The forum, while boasting participation from numerous nations, saw a limited presence from European leaders.

Hungary's Prime Minister Viktor Orban stood out as the only head of state from the European Union to attend the event. The Belt and Road Initiative by China has raised eyebrows among Western leaders. There's a growing sentiment that the initiative might be a strategic move by Beijing to expand its global influence.

This perspective has motivated many Western countries to reconsider their economic strategies.
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