RT.com
23 Jun 2022, 04:13 GMT+10
The Chinese leader warned the US and EU restrictions against Moscow would hurt people worldwide
Chinese President Xi Jinping has eviscerated the US and EU for imposing sanctions on Russia, warning that weaponizing their financial position would bring disaster to people worldwide.
"To politicize the global economy and turn it into one's tool or weapon, and willfully impose sanctions by using one's primary position in the international financial and monetary systems, will only end up hurting one's own interests as well as those of others, and inflict suffering on everyone," Xi said in his keynote speech at the BRICS Business Forum on Wednesday.
Sanctions, Xi reiterated, "are a boomerang and a double-edged sword." Explaining that "history, if not forgotten, can serve as a guide for the future" and referencing the wars of the twentieth century, he described the "Ukraine crisis" as "another wake-up call for the world," arguing that "blind faith in the so-called 'position of strength' and attempts to expand military alliances and seek one's own security at the expense of others" will end badly for the aggressor.
The sanctions imposed by the US and EU on Russia have indeed caused immense economic suffering in the West, raising energy and food prices to record levels and leaving many countries struggling to replace Russian oil and gas with winter just a few months away. On top of that, inflation rampages across the West.
Xi brought up his country's Global Security Initiative, announced in April as an effort to "reject the Cold War mentality," oppose "the wanton use of unilateral sanctions and long-arm jurisdiction," and resolve differences peacefully. He reaffirmed the need for peaceful solutions to international problems and stressed a focus on "win-win cooperation" rather than "zero-sum games."
The US has repeatedly denounced China for refusing to condemn Russia's actions in Ukraine, insisting Beijing's support for Moscow is placing it "on the wrong side of history."
The countries spoke by phone last week, with China vowing to continue supporting Russia on core issues and in international forums, while Russia affirmed its opposition to external forces' efforts to interfere in Chinese affairs.
The BRICS Business Forum includes not just the BRICS countries - Brazil, Russia, India, China and South Africa, which together make up about a quarter of the global economy - but 13 other nations, including Indonesia, Kazakhstan, Argentina, and Thailand.
(RT.com)
Get a daily dose of Hong Kong Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Hong Kong Herald.
More InformationSHANGHAI, China: Walt Disney Company reopened Shanghai Disneyland on 30th June, one month after the city lifted a two month ...
LISBON, Portugal: Tuvalu Foreign Minister Simon Kofe walked out of the opening cermonies of this week's United Nations Ocean Conference ...
ISLAMABAD, Pakistan - The Foreign Office (FO) revealed on Monday that a member of the five-nation BRICS summit "obstructed Pakistan's ...
SHANGHAI, China: As Shanghai reports no new cases of Covid for the first time in two months, Shanghai's top communist ...
Beijing [China], July 2 (ANI): Within the evolution of traditional and social media globally, a number of authoritarian governments have ...
© Provided by Xinhua GUIYANG, July 2 (Xinhua) -- Yuan Jian, 27, graduated from the Ministry of Education's Key Laboratory ...
NEW YORK, New York - U.S. stocks rebounded on Friday, a day after major across-the-board sell-offs."Consensus estimates for 2022 and ...
GENEVA, Switzerland: Swiss pharmaceutical group Novartis has said, as part of its previously announced restructuring program, that it could cut ...
SHANGHAI, China: Walt Disney Company reopened Shanghai Disneyland on 30th June, one month after the city lifted a two month ...
SYDNEY, NSW, Australia - Stocks in Asia skidded lower Friday with all the major indices recording solid losses."Capitulation is the ...
ISLAMABAD, Pakistan - Given the country's ongoing economic crisis and acute fuel shortage, the Pakistan government is considering purchasing oil ...
WASHINGTON, D.C.: Amidst the rise of "re-fracs" in the U.S. as part of the efforts to boost domestic oil production, ...