China’s Xi urges regional leaders to oppose ‘Cold War mentality’ at summit | News | USAEMALL.com

Chinese leader pledges $280m in aid to members of the Shanghai Cooperation Organisation at summit in Tianjin.

Chinese President Xi Jinping has urged regional leaders to oppose “Cold War mentality” at a gathering of a security bloc that Beijing has touted as an alternative to the Western-led international order.

In a speech to attendees of the Shanghai Cooperation Organisation (SCO) summit on Monday, Xi said that member states are facing increasingly complicated security and development challenges as the world becomes “chaotic and intertwined”.

“Looking back, despite tumultuous times, we have achieved success by practising the Shanghai spirit,” Xi said.

“Looking to the future, with the world undergoing turbulence and transformation, we must continue to follow the Shanghai spirit, keep our feet on the ground, forge ahead, and better perform the functions of the organisation.”

Calling for an “equal and orderly multipolarisation” of the world, Xi said the bloc should work towards the creation of a “more just and equitable global governance system”.

The Chinese leader said Beijing would provide 2 billion yuan ($280m) in aid to member states this year and a further 10 billion yuan ($1.4bn) of loans to an SCO banking consortium.

“We must take advantage of the mega-scale market… to improve the level of trade and investment facilitation,” Xi said.

Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, Iranian President Masoud Pezeshkian and Belarusian President Alexander Lukashenko are among the more than 20 world readers attending the two-day SCO summit, which opened on Sunday in China’s northern city of Tianjin.

Established in 2001, the Shanghai Cooperation Organisation began as a grouping of six Eurasian nations – China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan – but has since expanded to comprise 10 permanent members and 16 dialogue and observer countries.

Analysts say that China intends to use the gathering to promote an alternative to the United States-led global order and repair ties with India amid a shifting geopolitical environment under US President Donald Trump.