Image Credits- Deccan Herald
On Wednesday, Chinese President Xi Jinping, during the Belt and Road Initiative (BRI) forum in Beijing, expressed concerns about attempts to disengage from China and criticized Western efforts to decrease reliance on the Chinese economy. Jinping, speaking at the BRI forum in Beijing, cautioned against unilateral sanctions, economic coercion, decoupling, and disruptions to the supply chain.
He also praised the BRI, a project initiated a decade ago to connect Asia, Africa, and Europe through infrastructure and energy networks.
In response to Western actions that could hinder China’s growth, Xi stated that viewing the development of others as a threat and perceiving economic interdependence as a risk would not be beneficial for one’s progress. He emphasized that China’s success is interconnected with global well-being and that when China prospers, the world also benefits.
Xi Jinping praised an ambitious project, the BRI, initiated a decade ago, which involves the construction of global infrastructure and energy networks connecting Asia, Africa, and Europe via both land and sea routes. He described it as a successful transformation of plans into tangible projects.
During the forum that concluded on Wednesday, agreements were made to support Belt and Road projects. This support includes the China Development Bank and Export-Import Bank of China, two state policy lenders, establishing financing windows of 350 billion yuan ($48 billion) each, and the state-run Silk Road Fund contributing an additional 80 billion yuan to this fund. In total, cooperation projects worth $97.2 billion were signed.
The forum, commemorating the 10-year milestone of Xi’s ambitious project referred to as the “project of the century,” has drawn leaders and delegates from more than 130 nations. Distinguished attendees comprise figures such as Russian President Vladimir Putin, Indonesian President Joko Widodo, Serbian President Aleksandar Vucic, Egyptian Prime Minister Mostafa Madbouly, and Pakistani Prime Minister Anwaar-ul-Haq Kakar.
Xi emphasized that the BRI will shift its focus toward tackling challenges related to artificial intelligence and climate change in the future. This will involve increased collaboration in areas such as “green infrastructure, energy, and transportation.”
According to China’s Xinhua state news agency, President Xi stated that the BRI has positioned China favorably in the course of history, signifying progress in contemporary times and the correct path for the future.