This weekend, President Xi Jinping will entertain the leaders of two highly indebted countries during official visits to China, skipping the world’s most prestigious summit for high-level diplomacy in India.
Hakainde Hichilema, the president of Zambia, will travel to China from September 10 to 16 while Nicolás Maduro.
The president of Venezuela, will arrive on Friday for a seven-day tour, according to separate releases from Beijing’s Foreign Ministry.
Xi Jinping, the president of China, will not attend the G20 summit in New Delhi. Yet if experts are to be believed.
It may have less to do with China’s disputes with India and more to do with Xi’s domestic political and economic issues.
As the focus of the globe shifts to the G-20 summit, which will be in Beijing, China, a startling statement has caused some consternation.
Xi to Welcome Debt-Burdened Leaders
President Xi Jinping of China, who was conspicuously absent from the summit, instead decided to provide a kind welcome to a group of debt-ridden leaders from developing nations.
This action is view as China making a strategic pivot to increase its influence in international geopolitics and economy.
It is a remarkable departure from precedent for Xi to Welcome Debt-Burdened Leaders, where world leaders usually assemble to discuss crucial global concerns.
The summit, which was initially design to encourage international cooperation on economic and financial issues, has evolve through time to represent world harmony.
President Xi’s choice to abstain, however, appears to represent a change in China’s approach to foreign policy.
President Xi Jinping will conduct a number of bilateral talks with the leaders of developing nations who are dealing with heavy debt loads.
In contrast to his absence from the G-20. These gatherings will happen concurrently with the summit, making them an unofficial but equally important component of the international gathering.
China has several goals in mind with this action.
First of all, it emphasizes China’s status as a significant creditor to numerous developing countries. As part of its Belt and Road Initiative.
China has provided large loans and investments to Xi to Welcome Debt-Burdened Leaders nations in Asia, Africa, and South America over the past 20 years (BRI).
China now occupies a prominent place in the global financial system as a result of its massive debt network.
Second, President Xi’s talks with leaders who are struggling with debt show. That China wants to take a bigger part in debt relief and restructuring initiatives.
Many developing nations have struggled to pay. Their debts as the world deals with the economic effects of the COVID-19 pandemic.
China’s readiness to participate in debates about debt relief.
Sustainable development initiatives is view as an effort to have a bigger impact on how the world’s economies are run.
Thirdly, by taking this action, China can fortify its ties with developing nations and possibly forge. A voting bloc that supports Chinese interests in international bodies like the United Nations.
President Xi Jinping’s choice to miss the G-20 summit and concentrate on these bilateral talks has drawn criticism.
But it also highlights China’s changing position in Xi to Welcome Debt-Burdened Leaders world affairs. In addition to economic issues. China is firmly establishing itself as a major participant in international diplomacy and debt relief initiatives.
China’s future relations with developing nations and its participation in global governance will surely. Be shape by the success of these summits and the conclusions they produce.
It is still unclear how this strategic maneuver will affect the dynamics of global politics and economics. In the years to come as the globe keenly monitors developments.