‘President Xi’s shared prosperity model’

This is apropos two back-to-back letters to Editor titled “President Xi’s shared prosperity model” carried by the newspaper on Tuesday and yesterday.

President Xi’s vision of shared prosperity, rooted in economic, investment, and infrastructure diplomacy with a “win-win” approach, did not go unnoticed by global powers.

However, rather than appreciating these efforts or considering President Xi’s generous offer to partner in China’s pursuit of shared prosperity, the US and its allies have often placed roadblocks in the path of China’s progress.

The US and its allies launched a Chinese containment policy without appreciating President Xi’s declared policy that this world is big enough for all of us to share its bounties and immense resources without undercutting each other.

The US and its allies launched a de-risking strategy aimed at reducing excessive reliance on China, particularly in supply chains and markets.

On the military front, the US started bullying its partners and allies in the Asia Pacific and Indo pacific region to encircle China in the Asia Pacific region and beyond.

The US used the existing groups like Quadrilateral Security Dialogue (QUAD) and Australia, the United Kingdom and the United State (AUSKUS), developed a new alliance with Japan and the Philippines, for joint maritime patrols with the Philippines in the South China Sea, and restructured the US military command in Japan — the biggest upgrade to defense cooperation since the 1960s — to make them more responsive against perceived threats from China.**

The US has spearheaded the “Five Eyes” alliance, comprising the United States, Canada, the United Kingdom, Australia, and New Zealand, focused on intelligence sharing and countering cyber threats and foreign interference, often accusing China of intellectual property theft and using artificial intelligence for hacking and espionage.

Additionally, the U.S. forged a strategic partnership with India to counterbalance China’s influence in the Indian Ocean and the region. In recent years, the U.S. has also utilized credit rating agencies like Fitch and Moody’s, which have adjusted China’s credit ratings to negative, citing perceived risks to public finances.

Copyright Business Recorder, 2024