China warns Ukraine crisis could wreak global economic havoc for decades – Reuters

President Xi Jinping urges EU to work with Beijing to help bring peace to Eastern Europe and prevent lasting economic fallout

Chinese leaders have pushed back against EU pressure to take an anti-Russian stance in the Ukraine dispute, warning that cooperation between Beijing and Brussels is needed to avoid long-term damage to the global economy.

Speaking via video conference at a summit meeting with EU leaders on Friday, Chinese President Xi Jinping reportedly said it could take years, if not decades, for the global economy to recover from the consequences. of the Russian-Ukrainian war. He noted that the Ukrainian crisis came amid the Covid-19 pandemic and a “failing global recovery”.

“In such a context, China and the EU – as two major forces, major markets and major civilizations – should increase communication on their relations and on major issues concerning world peace and development, and play a constructive by adding stabilizing factors to a turbulent environment in the world,” Xi said in a statement.

European Council President Charles Michel and European Commission President Ursula von der Leyen have urged Xi and Chinese Premier Li Keqiang to ensure Beijing takes a tougher stance against Moscow. Von der Leyen demanded that China, at the very least, “do everything not to interfere” with Western sanctions against Russia. She warned China would suffer “a major damage to reputation” whether he helped Russia evade sanctions or otherwise allowed Moscow to go to war.

“The corporate sector is watching events very closely and assessing how countries are positioning themselves,” said von der Leyen. “It’s a question of trust, reliability and, of course, long-term investment decisions.” EU officials have noted that China’s trade with Russia is dwarfed by its trade with EU member states and the United States.

Li insisted that China would help end the Ukraine crisis “in its own way.” He added that Beijing has an independent foreign policy that includes promoting peace, respecting the territorial integrity of all nations, and settling disputes through dialogue and negotiation.

China denounces sanctions against Ukraine

Xi argued that tensions in Ukraine have built up over decades and that resolving the conflict would require addressing the security concerns of all parties involved. Chinese officials have spoken out against anti-Russian sanctions and accused the United States and its NATO allies of fomenting the conflict by expanding eastward. On Friday, Chinese Foreign Ministry spokesman Zhao Lijian told reporters that NATO should have been disbanded after the breakup of the Soviet Union three decades ago.

“Neither the world nor Europe needs a new cold war” Zhao said. “The Ukrainian crisis has been going on for more than a month, and the overwhelming majority of the international community hopes to promote peace talks and an end to hostilities as soon as possible. NATO should reflect on the role it has played in the issue of European security and the Ukrainian crisis.

Xi called on the EU to form its own perception of China and adopt an independent policy towards Beijing. Zhao said Washington was the “main instigator” of the Ukraine crisis, having led NATO through five rounds of eastward expansion since 1999. “Forcing others to take sides is misguided,” he added. “Taking a black-and-white approach to dividing others into friends or foes is misguided.”


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