Xi Jinping Claps Back At US In Belt And Road Initiative Address Amid New Chip Restrictions: 'Seeing Other People's Development As Threat...'

Chinese President Xi Jinping addressed the Belt and Road Initiative (BRI) Summit on Wednesday, emphasizing the progress made by the initiative and calling for mutual respect among nations.

What Happened: Xi used his speech to subtly criticize the United States without explicitly naming the country. He urged nations to see each other’s growth not as "threat," but as opportunities for mutual development, reported the South China Morning Post.

Xi stated, “Seeing other people's development as a threat and economic interdependence as a risk will not allow you to live better and develop faster”.

"Treating the others as a risk will not make your life better or develop faster."

He further emphasized that China's development is interconnected with that of other developing nations.

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The Chinese President also highlighted the progress of the BRI, stating that the cooperation has moved from “sketching the outline into filling in the details,” transforming blueprints into real projects.

Why It Matters: The BRI, launched by Xi a decade ago, aims to build global infrastructure and energy networks connecting Asia with Africa and Europe.

The summit, held in Beijing, saw hundreds of delegates from around the world, including Russia’s President Vladimir Putin. According to Xi, the BRI has significantly boosted the flow of goods, capital, technology and human resources among the participating countries.

Tensions between U.S. and China is on rise amid trade and geopolitical disputes. On Tuesday, the President Joe Biden-led administration moved to impose limitations on the sale of chips created by Nvidia Corp. for the Chinese market, as part of comprehensive new changes to export restrictions aimed at preventing China’s access to cutting-edge semiconductor technology.

Photo by 360b on Shutterstock

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