Xi proposes security mechanism, calls for global economic stability

Beijing, Apr 21 (EFE).- China’s President Xi Jinping on Thursday proposed a new initiative to “promote security for all in the world” that respects “the independent choices of development paths and social systems made by people in different countries.”

Xi was delivering a keynote speech via video link at the opening of the Boao Forum for Asia, nicknamed “Asian Davos,” which is taking place on the island of Hainan with very little international presence due to the Covid-19 pandemic restrictions imposed by China.

“It is important that we (…) stay committed to respecting the sovereignty and territorial integrity of all countries, uphold non-interference in internal affairs, and respect the independent choices of development paths and social systems made by people in different countries,” Xi said during his speech.

According to the president, China remains “committed to abiding by the purposes and principles of the UN Charter” and rejects “Cold War mentality, oppose(s) unilateralism, and say(s) no to group politics and bloc confrontation,” statements that politicians from China often use when referring to the United States to criticize its foreign policy.

China will “stay committed to taking the legitimate security concerns of all countries seriously, uphold the principle of indivisible security, build a balanced, effective and sustainable security architecture, and oppose the pursuit of one’s own security at the cost of others’ security,” Xi added.

The president appeared to be referring to Beijing’s position regarding the war in Ukraine, from which he has asked that the territorial integrity of all countries be respected and in which he has avoided using the word “invasion” to refer to Russia’s offensive, while reiterating his opposition to sanctions against Moscow.

In addition, China will “stay committed to peacefully resolving differences and disputes between countries through dialogue and consultation (…) and oppose the wanton use of unilateral sanctions and long-arm jurisdiction,” Xi said.

He also spoke about Covid-19 as China is experiencing a wave of outbreaks attributed to the Omicron variant.

“Safety and health are the prerequisite for human development and progress. For humanity to clinch a final victory against the Covid-19 pandemic, more hard efforts are needed,” he said.

“It is essential that countries support each other, better coordinate response measures and improve global public health governance, so as to form strong international synergy against the pandemic,” he added.

Xi also assured that China economy – with its “strong resilience, enormous potential, vast room for maneuver and long-term sustainability” – will provide “great dynamism” to the global economic recovery with “broader market opportunities for all countries.”

“We should stay committed to building an open world economy, stay on top of the dominant trend of economic globalization, increase macro policy coordination, turn to science and technology for more growth drivers,” he noted.

Xi stressed keeping “global industrial and supply chains stable” and “prevent serious negative spillovers from policy adjustments in some countries,” in apparent reference to the next meeting of the US Federal Reserve on May 4, in a context of high inflationary pressures. EFE

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