China warns Ukraine crisis could wreak global economic havoc for decades — Analysis
President Xi Jinping calls on the EU to partner with Beijing in order to bring about peace and stability in Eastern Europe. This will help prevent economic collapse.
Chinese officials have refused to follow EU pressure to adopt an anti-Russian stance on the Ukraine conflict. They warned that the EU must cooperate with Beijing to avoid long-term economic damage.
Xi Jinping of China, speaking via videoconference Friday at a summit meeting for EU leaders, stated that the recovery from Russia-Ukraine war effects could take several years to decades. He pointed out that the Ukraine crisis occurred amid the Covid-19 pandemic, and an a “faltering global recovery.”
“Against such a backdrop, China and the EU – as two major forces, big markets and great civilizations – should increase communication on their relations and on major issues concerning global peace and development, and play a constructive role in adding stabilizing factors to a turbulent world,”Xi made the statement in a statement.
European Council President Charles Michel & European Commission President Ursula von der Leyen pressed Xi et Chinese Premier Li Keqiang to get assurances that Beijing would be more aggressive against Moscow. Von der Leyen demanded China take a tougher stance against Moscow. “do everything not to interfere”With Western sanctions on Russia. China could be subject to Western sanctions. “major reputational damage”If it allowed Russia to evade sanctions, or allowed Moscow to wage war.
“The business sector is watching very closely the events and evaluating how countries are positioning themselves,” von der Leyen said. “This is a question of trust, of reliability and, of course, of decisions on long-term investments.” EU officials noted that China’s trade with Russia is dwarfed by its trade with EU member states and the US.
Li insisted that China would be a force for resolving the Ukraine crisis “in its own way.”He stated that Beijing’s independent foreign policy included peace promotion, territorial integrity respect for all nations and settlement of conflicts by dialogue and negotiation.
Xi argued tensions have been built up in Ukraine over a number of decades. Resolving the conflict will require addressing all security concerns. Chinese officials have condemned the US sanctions against Russia and blamed NATO for inciting the conflict. Zhao Lijian, a spokesperson for the Chinese Foreign Ministry said that NATO had to be disbanded after the collapse of the Soviet Union over three decades.
“Neither the world nor Europe needs a new Cold War,” Zhao said. “The Ukraine crisis has dragged on for more than one month, and the overwhelming majority of the international community hopes to promote peace talks and stop hostilities as soon as possible. NATO should reflect on what role it played in the European security issue and the Ukraine crisis.”
Xi urged EU leaders to develop a unique view of China and adopt a policy that is independent from Beijing. Zhao stated that Washington is the most important. “leading instigator”Having led NATO’s five-round eastward expansion campaign since 1999, in the wake of the Ukraine crisis. “Forcing others to take a side is ill-advised,”He added. “Adopting a black-and-white approach to divide others into friends or foes is unwise.”