Xi calls for solidarity, win-win cooperation

BEIJING - Chinese President Xi Jinping on Wednesday called on countries around the world to tide over difficulties together and jointly pursue win-win cooperation.

He made the remarks while delivering a keynote speech in virtual format at the opening ceremony of the BRICS Business Forum.

At present, some important industrial and supply chains are suffering from deliberate disruptions, commodity prices remain high and are fluctuating, global inflation keeps rising, the international financial market is in turmoil, said Xi, noting that the global economic recovery is losing steam.

"People have reason to be concerned that the world economy might slip into a crisis," Xi said. "At this critical juncture, tiding over difficulties together and pursuing cooperation is the only way for us to forestall an economic crisis."

Major developed countries should adopt responsible economic policies, said Xi, calling on major developed countries to avoid negative policy spillovers that may take a heavy toll on developing countries.

We should come together with a united purpose and strengthen macroeconomic policy coordination to prevent the slowdown and even halt of the global recovery, said Xi.

Describing sanctions as a boomerang and a double-edged sword, Xi said those who politicize the global economy and turn it into one's tool or weapon, and willfully impose sanctions by using one's primary position in the international financial and monetary systems will only end up hurting one's own interests as well as those of others, and inflict suffering on everyone.