Xi: China to drive trade, investment liberalization

Xi: China to drive trade, investment liberalization

Chinese President Xi Jinping has reaffirmed his commitment to driving trade and investment liberalization during the Shanghai Cooperation Organization (SCO) summit held in Tianjin. In his address to over 20 world leaders, Xi emphasized the need for closer economic and security cooperation among SCO members, positioning China as a key player in reshaping the global order [3].

Xi's vision for the SCO is to advocate for "equal and orderly multi-polarization of the world," aiming to create a new type of international relations that challenges the Western-led world order. He highlighted the bloc's potential to boost trade and cooperation in energy, science, and artificial intelligence, leveraging the "mega-scale market" created by the SCO's member states [3].

Xi pledged $280 million in funding for SCO member states and proposed the establishment of an SCO Development Bank to further support economic development and cooperation. His address also included a swipe at Western "hegemonism," "Cold War mentality," and "bullying practices," positioning China as a peacemaker amidst global tensions [3].

Xi's statements come at a time when China is actively seeking to expand its influence in the Asia-Pacific region. President Donald Trump's planned visit to South Korea for the Asia-Pacific Economic Cooperation (APEC) summit in late October could provide an opportunity for crucial meetings with Chinese President Xi Jinping and possibly North Korean leader Kim Jong Un [1].

The APEC summit, scheduled to take place in Gyeongju, South Korea, is expected to focus on economic cooperation but may shift towards potential bilateral sessions with Xi. The White House is finalizing details for Trump's visit, with talks anticipated to address trade, defense, and civil nuclear cooperation [1].

Trump has publicly signaled interest in meeting with Kim Jong Un, with South Korean President Lee Jae Myung inviting Trump to the summit and suggesting it could provide an opening for such talks [1].

Xi's recent meeting with Kim Jong Un further underscores China's strategic importance in the region. After hosting Kim, Xi, Putin, and Modi in Beijing, Xi reiterated China's enduring support for North Korea, emphasizing the importance of maintaining and consolidating bilateral relations [2].

As global trade tensions continue to rise, Xi's commitment to trade and investment liberalization positions China as a potential mediator and a driving force in shaping the new global economic order. The SCO summit and Trump's visit to South Korea are expected to be pivotal moments in this ongoing geopolitical and economic realignment.

References:
[1] https://www.benzinga.com/news/politics/25/09/47537816/trump-to-attend-apec-summit-in-south-korea-eyes-xi-jinping-meeting-amid-trade-tensions-report
[2] https://www.wionews.com/world/china-s-xi-jinping-holds-bilateral-meeting-with-north-korea-s-kim-after-show-of-unity-during-military-parade-1756980205562
[3] https://www.newsweek.com/china-shanghai-sco-xi-2122475