On Friday, Chinese President Xi Jinping called for the creation of “foot-bridges” within the world economy as China grapples with economic and trade turmoil as well as territorial fights with regional neighbors and trading partners.
Whilst addressing a seminar to mark 70 years since China’s guiding principles for foreign affairs were first outlined, Xi reiterated that the second largest economy in the world would never deviate from the path of peaceful development.
The President also pointed out that this will not transform into a “strong” country dominating others, when he was addressing an audience including Myanmar’s former president Thein Sein and Nong Duc Manh, Vietnam’s former general secretary of its Communist Party.
“Nowadays we are living in an era when peace or war, prosperity or confrontation are possible. Therefore, we need to inherit, carry forward and enlarge on the Five Principles of Peaceful Coexistence like never before,” Xi said.
The first time they emerged was during a 1954 pact with India over their Himalayan border. However, Indian officials were not in the front row reserved for distinguished guests.
China’s ruling Communist Party has gone from being invisible to the UN to having by far most diplomatic posts worldwide while overseeing $18.6tn economy since 1950s.
It now wants other countries to see it as a diplomatically important global player even if other nations regard it as engaged in economic coercion and unfair competition.
China’s top diplomat Wang Yi stated that after Beijing had brokered an unexpected detente between Iran and Saudi Arabia last year; his country would continue playing constructive role in handling global hotspot issues.
However, such ambitions are hindered by Beijing’s failure to criticize Russia for invading Ukraine and its striving for “no limits partnership” with Moscow (this month China skipped a summit on peace conference held in Switzerland).
Additionally, trade relations between China and European Union have been strained by bloc of 27 states planning to impose extra tariffs on Chinese electric vehicles, potentially extending the West’s trade war with China that started with initial import duties imposed by Washington in 2018.
China has been accused by EU of flooding its market with cheap EVs made by Chinese automakers benefiting from heavy state subsidies.
“We should not divide ourselves through economic globalization rather we should build bridges in order to communicate. We should not raise an iron curtain for confrontation but clear a path to cooperation,” Xi said.
‘DANGEROUS PERIOD’
China has softened its stance in some recent dealings with Australia, freeing an Australian journalist from jail and improving ties with Canberra; it has also resumed informal nuclear discussions with the U.S and agreed to debt restructuring deals for borrowers.
However, tensions are high among countries closer home.
India has cut off investment channels for Chinese companies since the worst military standoff in decades along their disputed Himalayan frontier last June killed at least four Chinese soldiers and 20 Indians
Meanwhile, many direct cargo flights still operate between India and China although the latter country is currently banned on many popular App stores and passenger line routes have been cancelled.
This has also led to increased tension with the Philippines over territorial claims in South China Sea leading U.S. officials reminding Beijing that they are obliged by a mutual defense treaty they have signed with Manila.
China’s relations with ASEAN best exemplify the Five Principles’ success, asserts Professor Zhang Weiwei of Fudan University.
Philippines is a member of ASEAN (Association for South East Asian Nations).
This deviates from Europe where there are conflicts as a result.
China has never fired a bullet in any conflict against Philippines nor used any other weapon apart from water cannon only.
But the concern was that more similar conflicts could ignite anytime across continents if not well managed
At the end of it all, we need a platform where everybody can speak regardless of your size, power, economic strength and military muscle,” Siddharth Chatterjee, the UN resident co-ordinator for China told Reuters.
It is about ensuring we talk, get involved because it’s really…we have entered into this dangerous period to say something before Xi spoke.
