China swipes at 'bullying' US
Chinese President Xi Jinping and Brazil’s President Luiz Inacio Lula da Silva review the honour guard during a welcome ceremony at the Great Hall of the People in Beijing. Photo: REUTERS
China took thinly-veiled swipes at the United States and cast itself as the defender of the multilateral order on Tuesday, as it sought to deepen ties with Latin American and Caribbean leaders at a summit in Beijing.
Promising billions in development credit and increased cooperation, President Xi Jinping told the China-CELAC Forum — without naming the United States — that "bullying and hegemony will only lead to self-isolation".
Latin America has emerged as a key battleground in US President Donald Trump's confrontation with China, and the region is coming under pressure from Washington to choose a side.
Two-thirds of countries there have signed up to Beijing's Belt and Road (BRI) infrastructure drive, and China has surpassed the US as the biggest trading partner of Brazil, Peru, Chile and others.
A day after Washington and Beijing dialled down the trade war raging since Trump took office by drastically reducing mutual tariffs for 90 days, Xi cast Beijing as a defender of peace and stability.
"There are no winners in tariff wars or trade wars," Xi said.
"Only through unity and cooperation can countries safeguard global peace and stability and promote worldwide development and prosperity," he said.
The Chinese leader pledged $9.2 billion in loans towards "development", part of a broad set of initiatives aimed at deepening cooperation, including on infrastructure and clean energy.
Beijing will also cooperate in counterterrorism and fighting transnational organised crime, Xi said, as well as enhancing exchanges such as scholarships and training programmes.
Under Monday's agreement announced in Geneva, the United States agreed to lower its tariffs on Chinese goods to 30 percent while China will reduce its own to 10 percent.
The deal marked a major de-escalation between the world's two largest economies which threw global markets into turmoil.
But tensions remain; a 20-percent levy over Trump's complaints about Chinese exports of chemicals used to make fentanyl — an opioid drug that has killed thousands of Americans — remains in force.