The investment and the loans to the partners will increase the China According to President Xi Jing, while also presenting a plan to strengthen a security block under the leadership of China and Russia and to strengthen Beijing’s global influence.
Specifically, China will provide 2 billion yuan (pp. 241.2m euros) to grants to the Member States of the Shanghai Cooperation Organization this year and will issue an additional 10 billion yuan on loans to a interbank consortium in the next three years, Bloomberg.
“We need to make the cooperation pie greater and fully utilize the privilege of each country so that we can fulfill our responsibility for peace, stability, growth and prosperity in the region,” Si said to world leaders, including Russian President Vladimir Tianzin.
The event brings together the closest international allies of XI and is one of its milestone diplomatic summations of more than ten years of its rule. It comes in a period of increased global tensions, as Trump’s duties disturb international trade flows and regional wars continue to burst.
Without naming any country, Si called on the team to “oppose the mentality of the Cold War, the confrontation between bloc and bullying practices” – a slightly disguised reference to what Beijing considers the US violence in the trade war.
Si also announced plans to implement 100 “small and beautiful” livelihood projects in Member States and the expansion of educational opportunities, including doubling scholarships in particular the United Nations Cooperation Organization (SCO).
The composition of world leaders – including Iran’s president, Massoud Pezkian, and Pakistan’s Prime Minister Sechbaz Sarif – suggests that there is a possibility for new fronts. The Summit offers Putin the opportunity to talk directly with Si and Monty about the outcome of his meeting in Alaska with Trump and the prospect of reaching an agreement to end the war in Ukraine.
In a bilateral meeting between Si and Monty on Sunday, the two leaders pledged to restore relations and announce the resumption of direct flights. Monty has been making his first trip to China for seven years, as both Beijing and New Delhi face high duties from Washington.
Initially regarded in the West as an east counterweight to NATO, the SCO block has expanded by adding new members that are either far from its original catering in Central Asia or, as in the case of India and Pakistan, they are involved in conflict.
The Organization’s Cooperation Organization (BSU) has almost doubled its members since its founding in 2001 by China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Considering observers and dialogue partners, such as Mongolia and Saudi Arabia, this number extends to 26 nations, with a list of complete integration countries, including Myanmar and Turkey.