Xi Jinping Calls for Mega-Market Leverage at SCO Summit
Chinese President Xi Jinping encouraged the Shanghai Cooperation Organisation to utilize its large market potential to reshape global security and economic policies. At a summit in Tianjin, Xi announced financial aids for member states and urged multipolarisation and fair globalisation efforts against a growing U.S. influence.
In a bold move that could reshape global dynamics, Chinese President Xi Jinping has called on the Shanghai Cooperation Organisation (SCO) to harness its "mega-scale market." Speaking on Monday at a summit in Tianjin, Xi unveiled his vision for a new international security and economic order.
Addressing over 20 world leaders, Xi advocated for a more multipolar world, inclusive economic globalisation, and an equitable global governance system. He pledged 2 billion yuan in aid and 10 billion yuan in loans to SCO members, urging enhanced cooperation in various sectors, including energy and artificial intelligence.
This summit, attended by Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, marks a significant moment in Global South collaboration, promoting an alternative governance model amidst the U.S.' erratic policies and tariff challenges.
(With inputs from agencies.)
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