Chinese President Xi Jinping criticized sanctions for stoking global economic pain in a speech kicking off this year’s BRICS summit, as he seeks to bolster relations with emerging markets in the wake of strained Western ties.
Without explicitly naming the US, Xi said that the international community is worried that the global economy will split into mutually exclusive zones, and called for the world to fight against the hegemony of any one country.
“Politicizing, instrumentalizing and weaponizing the world economy using a dominant position in the global financial system to wantonly impose sanctions would only hurt others as well as hurting oneself, leaving people around the world suffering,” Xi told the BRICS Business Forum via video link Wednesday, according to the official Xinhua News Agency.
The virtual event, which Beijing is hosting this week, is set to bring together Xi, Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, South Africa’s Cyril Ramaphosa and Brazil’s Jair Bolsonaro.
The summit beginning Thursday offers Xi and Putin a vehicle to expand their vision of a global order after they declared a “no-limits friendship” just before Russia invaded Ukraine.