Politics
Chinese President Xi Jinping calls for building bridges in global economy – Euractiv Italy
Chinese President Xi Jinping called on Friday (June 28) to build bridges in the global economy, as Beijing grapples with economic and security disputes with its neighbors and trading partners around the world.
China will never abandon the path of peaceful development, Xi said at a conference commemorating China's guiding principles of foreign affairs.first formulated 70 years ago.
Moreover, China will not become a strong state seeking to dominate others, Xi told conference participants, including former Myanmar President Thein Sein and former Vietnamese Communist Party General Secretary Nong Duc Manh.
“Facing the history of peace or war, prosperity, unity or confrontation, we must more than ever uphold the spirit and connotation of the Five Principles of Peaceful Coexistence,” Xi said.
The Five Principles first appeared in a 1954 pact with regional rival India on the Himalayan border. Despite this, Indian officials were absent from the front row of the audience reserved for honored guests.
Since the 1950s, China's ruling Communist Party, unrecognized by the United Nations, has become the world's largest diplomatic presence and presides over the country's second-largest economy.
Beijing now expresses a desire for other countries to view it as a diplomatic heavyweight, even as other countries accuse it of economic coercion and unfair competition.
After China brokered an unexpected detente between Iran and Saudi Arabia last year, Wang Yi, China's top diplomat, said the country would continue to play a constructive role in handling issues related to global hotspots.
But Beijing's reluctance to condemn Russia's invasion of Ukraine and the pursuit of an indefinite partnership with Moscow constitute obstacles to this ambition. China did not participate in the peace conference in Switzerland on June 15-16.
Rising tensions between China and the Philippines in the South China Sea, where Vietnam also has claims, have also led U.S. officials to remind Beijing that its mutual defense treaty obligations with the Philippines are ironclad.
China's trade relations with the European Union are also under strain as the 27-nation bloc considers imposing additional tariffs on Chinese-made electric vehicles, potentially opening a new front in the tariff war between the West and Beijing that began with Washington's initial import duties in 2018.
The EU accuses China of flooding its market with cheap electric vehicles produced by Chinese carmakers that have benefited from heavy state subsidies.
“In the era of economic globalization, what we need is not to create chasms of division, but to build bridges of communication, and not to lift the iron curtain of confrontation, but to open the path to cooperation,” Xi said.
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