Chinese President Xi Jinping Targets US at G20: "Collective Politics and Bloc Formation Divide the World"

[Image source=EPA Yonhap News]

[Asia Economy Beijing=Special Correspondent Kim Hyunjung] Chinese President Xi Jinping warned on the 15th at the Group of Twenty (G20) summit that engaging in collective politics or fostering bloc confrontations would only divide the world. He also criticized advanced countries' monetary policies for causing difficulties in developing countries, implicitly targeting the United States.

According to the Chinese Ministry of Foreign Affairs and local media such as CCTV on the 15th, President Xi, in his speech at the G20 summit held in Bali, Indonesia, stated, "As the world faces significant challenges, we must call for unity and inclusive global development," adding, "Drawing ideological lines and promoting collective politics and bloc confrontations only divide the world and hinder development."

He pointed out, "Food and energy security are the most urgent challenges to global development, and the root cause of the current crisis lies not in production or demand but in supply chain and international cooperation issues." He emphasized, "The solution lies in coordination among United Nations member states and other multilateral international organizations."

President Xi further stated, "The G20 must remain committed to its founding purpose of integration and cooperation, promote the spirit of solidarity, and uphold the principle of consensus," reiterating, "Division and confrontation benefit no one; only solidarity and common development are the right choices."

He also opposed politicizing food and energy issues and raised criticism against the West's joint sanctions on Russia. Xi asserted, "We must firmly oppose attempts to instrumentalize and weaponize food and energy issues," and argued, "Unilateral sanctions should be lifted, and restrictions on related scientific and technological cooperation should be canceled." He also mentioned China's significant contributions to global food and energy security.

Moreover, he noted, "In a world where the rich get richer and the poor get poorer, prosperity and stability are impossible," adding, "Everyone aspires to a better life, and modernization is not a privilege for any single country." He referred to China's Global Development Initiative (GDI) proposal and the expansion of financial support, stating, "Leading developing countries should sincerely assist others and provide more public goods."

Emphasizing active support for developing countries, Xi said, "China supports the African Union's accession to the G20," and stressed, "All parties should continuously deepen international cooperation on COVID-19, curb global inflation, and mitigate systemic economic and financial risks." Seemingly mindful of the U.S. interest rate hikes and strong dollar phenomenon, he urged, "Advanced countries should mitigate the negative spillover effects of monetary policy adjustments," and insisted, "International financial institutions and commercial creditors, as major creditors of developing countries, must participate in debt reduction and suspension for developing countries."

China's state-run Global Times (GT) reported this news and noted that other leaders also voiced opposition to global bloc formation. The Times reported, "Indonesian President Joko Widodo said the world should not be partially divided nor fall into another Cold War," and "Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), also stated in her speech that protectionism should not cause the world to drift into separated blocs."

Meanwhile, on the afternoon of the same day, South Korean President Yoon Suk-yeol will hold a Korea-China summit with Chinese President Xi Jinping for the first time in over three years. Mao Ning, spokesperson for the Chinese Ministry of Foreign Affairs, mentioned at a regular briefing, "China and South Korea are close neighbors and important cooperative partners," adding, "Both sides will have in-depth exchanges of views on China-Korea relations and common interests, and we hope this meeting will achieve positive results, present the direction for the next stage of China-Korea relations, and inject new momentum." This Korea-China summit is the first since it was held at the Great Hall of the People in Beijing on December 23, 2019, during the Moon Jae-in administration.

This content was produced with the assistance of AI translation services.