China, Russia seek balanced economic globalization (Lead)

May 23rd, 2008 - 11:56 pm ICT by admin  

Beijing, May 23 (Xinhua) China and Russia Friday expressed their readiness to push forward the development of economic globalization towards a balanced, universally beneficial and win-win direction. A joint statement signed by visiting Russian President Dmitry Medvedev and his Chinese counterpart Hu Jintao called on the international community, especially developed countries, to increase development aid and honour their commitments on providing aid for developing countries in order to create a favourable international environment for their development.

Both sides support a reciprocal and win-win open strategy, the promotion of south-north dialogue and south-south cooperation, and narrowing the gap between the developed and poor countries, according to the statement.

The Russian president arrived here Friday morning on a two-day state visit in his first foreign trip outside the Commonwealth of Independent States (CIS) after assuming office early this month.

Medvedev is the first head of state to pay a state visit to China after the devastating May 12 earthquake in the southwestern Sichuan province.

Both leaders, in the statement, said that international trade and financial system should be perfected, trade protectionism and investment protectionism should be opposed, and economic and trade disputes should be addressed through consultations on equal-footing and cooperation.

RIA Novosti added: The two countries, through the joint declaration, also denounced the US moves to establish a global missile defence system, saying the plans threaten the global strategic balance.

“The parties believe that the construction of a global missile defence system, including the deployment of such a system in some regions of the world… does not contribute to maintaining a strategic balance and stability, and runs counter to international efforts to control arms and non-proliferation,” the declaration said.

The missile defence plans also “weaken confidence-building measures between countries and the consolidation of regional stability,” the statement said.

On the first day of Medvedev’s visit to China, the two countries agreed Friday to expand cooperation between them.

Russia and China, both members of the UN Security Council, have come closer in their foreign policy alignment in an effort to balance the influence of the US and shore up lucrative oil and gas trade.

The two countries also plan to sign a billion-dollar deal to cooperate in building a civilian nuclear facility.

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