China’s Xi Jinping and Russia’s Vladimir Putin hit back at US global economic dominance on Friday as they took the stage together at Russia’s showcase business forum.
With China embroiled in a trade war with Washington and Russia under Western sanctions, Xi and Putin lashed out at “inequalities” in the global economic system and vowed to pursue closer ties between their countries.
Putin, speaking in front of political and business leaders at the annual Saint Petersburg International Economic Forum, accused Washington of seeking to “extend its jurisdiction to the whole world”.
Denouncing the “rhetoric of trade wars and sanctions”, Putin called for rethinking the role of the US dollar in global trade and slammed US pressure on both countries.
He pointed to US efforts to block the building of Nord Stream 2, a major new natural gas pipeline from Russia to Germany that would bypass Ukraine, and Washington’s pressure on Chinese tech giant Huawei.
“They are attempting not just to squeeze but to unceremoniously push (Huawei) out of the global market,” Putin said.
Xi said steps needed to be taken to “overcome inequalities” in the global economic system.
Pointing to Russia as a key partner, he said China was looking to build “beneficial cooperation on the basis of equality and mutual respect” with friendly countries.
“China is ready to share technological inventions with all partners, in particular 5G technology,” Xi said.
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