Chinese President Xi Jinping , during his address at the opening ceremony of a forum for international delegates on the Belt and Road initiative in Beijing, emphasized his country’s rejection of “economic coercion” and decoupling. He expressed opposition to unilateral sanctions and the act of separating or disentangling economies. Furthermore, Xi stressed that China would not engage in ideological conflicts, geopolitical maneuvers, or bloc confrontations.
He underlined that viewing other nations’ development as a threat and economic interdependence as a risk does not contribute to one’s own progress or prosperity. Instead, Xi outlined the Belt and Road Initiative’s (BRI) goal to inject fresh momentum into the global economy. He highlighted that the BRI aims to enhance connectivity in policy, infrastructure, trade, finance, and people-to-people relations.
Xi stressed that true progress can only result from cooperation that is win-win. He stated that China commits to strengthening collaboration with Belt and Road partners and working tirelessly to support the modernization efforts of all nations across the globe.
This week, Beijing is hosting delegates from 130 countries to participate in discussions and forums related to the Belt and Road Initiative, which is Chinese President Xi Jinping ‘s ambitious trade and infrastructure project.
Western scepticism of Xi’s grand plans stems from suspicions over the way it would extend China’s global influence, analysts say. China has at times bristled at criticism of the BRI, saying it carries anti-Chinese prejudice and a wish to contain its rise, while overlooking what it says are genuine good intentions.
Analysts have also said some of China’s infrastructure lending through the project has saddled poor countries with loans they can’t repay.
Indonesian President Joko Widodo, whose country owes China more than $20 billion, emphasized in a speech that BRI projects “must not complicate (countries’) fiscal conditions”.