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Live Trading News > Blog > Asia > China > The New Multipolar World
China

The New Multipolar World

Shayne Heffernan Ph.D.
Last updated: August 7, 2023 9:23 pm
Shayne Heffernan Ph.D.
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China and Russia continue to work for close strategic coordination at international and multilateral levels, advance the process for a multipolar world and democratization in international relations, and uphold the basic norms of international relations, Chinese Foreign Minister Wang Yi said Monday.

Talking on the phone with Russian Foreign Minister Sergei Lavrov, Wang, also a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, said this is the international responsibility for the two countries and is also the integral component of the China-Russia comprehensive strategic partnership of coordination.

Wang underlined that the BRICS mechanism keeps pace with the trend of the times, demonstrating abundant vitality, while over 20 countries have expressed their willingness to join BRICS, making the process of its expansion smooth and imperative.

China is willing to work with Russia and other BRICS partners to support South Africa in hosting the upcoming BRICS Summit and promote the healthy and vigorous development of the BRICS mechanism, he added.

Wang noted that since Chinese President Xi Jinping’s visit to Russia in March this year, the strategic coordination and pragmatic cooperation between the two countries have made headway. Bilateral trade volume has reached a new high, energy cooperation has been carried out steadily, and personnel exchanges have swiftly resumed.

It has been proven that China and Russia are trustworthy and reliable good friends and partners, he said, noting that at present, the priority for both sides is to continue to implement the important consensus reached by the two heads of state and promote the high-level development of the China-Russia comprehensive strategic partnership of coordination for a new era.

For his part, Lavrov noted that Russia is willing to work with China to implement the important achievements of President Xi’s visit to Russia in March, further strengthen strategic coordination, and deepen pragmatic cooperation for more results in bilateral relations.

Russia is willing to further strengthen communication and coordination with China under the multilateral framework of the United Nations, BRICS and the Shanghai Cooperation Organization, oppose hegemony, resist unilateralism, promote the democratization of international relations, and safeguard international equity and justice, said Lavrov.

The two sides also exchanged views on international and regional issues of common concern, including the Ukraine crisis. Wang emphasized that on any international and multilateral occasion, China will uphold an independent and impartial position, make objective and rational statements, actively promote peace and talks, and strive to seek a political solution to the Ukraine crisis.

Lavrov said Russia highly agrees with the position paper put forward by China on the political settlement of the Ukraine crisis, and appreciates and welcomes China playing a constructive role in this regard.

Shayne Heffernan

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By Shayne Heffernan Ph.D.
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Shayne Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 40 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.
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