Li Keqiang hopes for cooperation, not confrontation with the US (Putin can wait)
In his latest speech at the end of the "Two Sessions", China’s incumbent premier is open to working with the United States to overcome the global economic crisis caused by the pandemic. For Beijing, striking a deal with Washington is better than a tactical "quasi-alliance" with Moscow. Confrontation with Washington is not paying off at a difficult time for the Chinese economy.
Rome (AsiaNews) – Chinese Premier Li Keqiang held a press conference in which he expressed hope that China and the United States would engage in cooperation, not confrontation. The Chinese leader spoke at the end of the “Two Sessions” (Lianghui) of the National People’s Congress and the Chinese People’s Political Consultative Conference, which function as rubber stamps for Chinese Communist Party decisions.
According to Li, differences between China and the United States can be overcome while their relationship is “moving forward” despite ups and downs. The Chinese premier noted that the volume of trade between the two countries rose by 30 per cent to US$ 750 billion last year – while the US trade deficit increased. To further trade, the US should reduce export restrictions, he said.
Li’s conciliatory approach to the United States suggests that despite the much vaunted "quasi-alliance" or "unlimited friendship" with Putin's Russia, China’s basic goal is to find a way to coexist with the United States on the world stage.
On the crisis in Ukraine, Li maintained China’s official line and refrained from using the word "invasion" to describe Moscow’s armed operation against Ukraine. Beijing is struggling to keep its tactical partnership with Russia while defending the principle of non-interference in the internal affairs of a sovereign state like Ukraine.
For those calling on China to intervene diplomatically to end the war, Chinese foreign minister Wang Yi yesterday said that his government hoped for a quick ceasefire, stressing, however, that Ukraine is a “European crisis”. This suggests that Beijing will not intervene directly in the dispute, but will support pacification efforts between the main players, and act more as a mentor than as a mediator or facilitator.
For its part, the US Treasury Department reported that China was not rushing to help Russia circumvent or mitigate the effects of Western sanctions. The Chinese are showing caution in doing business with Russia at present. In fact, Russian state media have reported that Beijing refused to supply Russian airliners with spare parts to replace supplies from Boeing and Airbus halted by sanctions.
With respect to the economy, China has set a GDP growth target of 5.5 per cent for this year, a level difficult to achieve according to various experts given that consumer spending has not picked up, as Li himself admitted. Meanwhile, China is still struggling to emerge from the COVID-19 crisis. Today health authorities reported more than a thousand new cases, the highest figure since the first months of the pandemic in early 2020.
Like mainland China, Hong Kong too has seen a jump in cases, forcing the postponement to May of this month’s election for the post of chief executive.
In his press conference, Li announced tax cuts worth 2.5 trillion yuan (US$ 395 billion) for small and medium-sized businesses, the hardest hit by the global health crisis, and 100 per cent tax rebate for investments in research and development.
The Chinese premier mentioned that 16 million new workers are expected to enter the workforce this year, including 10.7 million university graduates. Some 200 million Chinese have part-time jobs and are in need of social protection, a significant fact taking into account the aging population, which will boost retirement spending.
Li made it clear that the Russian-Ukrainian war and Western sanctions against Russia threaten the global post-pandemic recovery. The reality is that despite the strategic advantage of having the US involved in Europe against Russia, and not deployed in the Western Pacific (especially Taiwan), short- and medium-term economic losses remain painful for China.
.png)
