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July 16, 2014

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Xi invites India to APEC meet

CHINA will dedicate itself to “perfecting” the role developing countries play in international affairs to give them better representation and a greater say, President Xi Jinping said ahead of a summit of BRICS nations in Brazil yesterday.

China has already started doing this by promoting international development banks which will either be led by China or will have a very strong Chinese role, as opposed to Western-dominated institutions like the World Bank.

Leaders of Brazil, China, India, Russia and South Africa huddled yesterday in Brazil to launch a US$100 billion development bank and a reserves fund of the same size to challenge Western dominance over development lending. The five emerging nations unveiled in 2013 their plans to create the bank, which aims to rival the Washington-based World Bank while the reserve is seen as a “mini-IMF.”

In an interview with South American media, Xi said China would try to better play the role of a responsible major power and promote the rights of the developing world.

“We will dedicate ourselves to perfecting the international system of governance and proactively push for expanding the representation and right to speak for developing countries in international affairs,” he said. “We will come up with more Chinese proposals and contribute China’s wisdom.”

Xi said China did not believe it was destined to dominate others just because of its growing strength.

“The Chinese people love peace. In the blood of the Chinese people there are no genes for invading others or dominating the world. China does not acknowledge the old logic of ‘when a country is strong it must dominate,’” Xi said.

“China will resolutely pursue the path of peaceful development, to proactively seek a peaceful international environment for its own development, and will use its own development to promote world peace,” Xi added.

China is also planning an Asian Infrastructure Investment Bank. In a meeting with Indian Prime Minister Narendra Modi, Xi invited India to become a founding member of the Asian Infrastructure Investment Bank.

“The two countries should join hands in setting global rules, so as to raise the voice of developing countries,” Xinhua news agency cited Xi as saying.

Xi also invited India to attend a summit of the APEC trade group in November in Beijing.

India has never attended an APEC summit, and has long sought to become a member to help boost its economy.

Xi also called for speedy negotiations to settle disputes over the 4,000-kilometer-long Himalayan border over which India and China went to war in 1962 and which have flared in recent years over allegations of cross-border incursions.

Xi suggested the two sides manage, control and handle differences with a positive and forward-looking attitude and find fair, reasonable and mutually acceptable solutions to their border issues at an early date, Xinhua said.

Modi called for strengthening “mutual trust” and maintaining peace on the border, the government said in a statement.

His Bharatiya Janata Party has campaigned for a strong national security posture, saying previous governments have been weak-kneed in their dealings with both China and Pakistan.

But Modi has sought to build on a booming trade relationship with China while trying to balance India’s security interests.

He sought Chinese investment in Indian infrastructure projects which he said would help address the trade imbalance currently in China’s favor.

The two countries, said Xi, should work together to advance the construction of the Bangladesh-China-India-Myanmar Economic Corridor, so as to take the lead in regional economic integration.


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