- Xi Jinping criticizes the idea of "decoupling and breaking links" during an SCO virtual summit.
- China reaffirms its commitment to collaborate with all parties for the implementation of the Global Development Initiative.
- Xi's remarks precede U.S. Treasury Secretary Janet Yellen's visit to China amid escalating tech-centered tensions between the U.S. and China.
President Xi Jinping of China, on Tuesday, boldly expressed his aversion to the idea of "decoupling and severing ties," an interpretation by CNBC of a dispatch from China's state-run media.
He stressed that fueling economic progression is a common task that requires the collaborative effort of regional nations. These statements came to light during his speech at the Shanghai Cooperation Organization's (SCO) online summit.
The SCO, an alliance focusing on politics, security, and commerce, consists of several member countries, including China, India, Russia, Kazakhstan, Kyrgyzstan, Pakistan, Iran, Tajikistan, and Uzbekistan. In addition, the coalition includes observer states and dialogue partners, a status recently acquired by Saudi Arabia in March.
Xi Jinping reaffirmed China's readiness to cooperate with all involved parties to carry out the Global Development Initiative, with the aim of 'enlarging the cake', so that individuals from diverse nations can reap the benefits. This initiative was first proposed by Xi to the United Nations in 2021, outlining support for the U.N.'s sustainable development goals.
Finally, Xi stated that China resists protectionism, unilateral sanctions, and the oversimplification of the notion of national security. His statements precede the expected visit of U.S. Treasury Secretary Janet Yellen to China this week.
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