He says emerging economies, developing nations reshaping international landscape

President Xi Jinping warned on Tuesday of the danger of a new Cold War and urged countries to strengthen solidarity and cooperation to cope with the risks and challenges the world is facing.

Xi made the remarks in a speech read out by Commerce Minister Wang Wentao at the BRICS Business Forum 2023 meeting in Johannesburg, South Africa.

Xi said human society is approaching a critical juncture and must decide whether to maintain peace and stability or slide into the abyss of a new Cold War. Noting that today's world is a community with a shared future, Xi said people around the planet do not long for a "new Cold War" or a "small exclusive bloc", but an open, inclusive, clean and beautiful world of lasting peace, universal security and common prosperity.

This is the inevitable progression of history and the trend of the times, he added.

Xi rebuffed attempts to deliberately create division with the assertion of "democracy versus authoritarianism" and "liberalism versus autocracy", saying such moves can only lead to a fragmented world and clashes between civilizations.

He spoke highly of the collective rise of emerging economies and developing nations represented by the BRICS countries — Brazil, Russia, India, China and South Africa — saying they are fundamentally reshaping the global landscape.

As the BRICS member countries gather with more than 50 other nations in South Africa, the issue is not about taking sides or fostering confrontation, but about building a framework for peaceful development, Xi said. He added that China sincerely welcomes those interested in joining the BRICS cooperation mechanism.

Xi noted that China, as a member of the developing world and the Global South, has always stood with other developing countries, firmly upheld their common interests, and advocated increased representation and a louder voice for emerging economies and developing nations in global affairs.

China does not have the genes to seek hegemony or engage in power play, and it firmly stands on the right side of history, he said.

Speaking of China's economy, Xi said it is resilient, with great potential and vitality, and its positive fundamentals will not change in the long run.

Since the beginning of this year, the Chinese economy has maintained a positive momentum of recovery and improvement.

Xi emphasized China's firm resolution to continue its high-standard opening-up, fostering a world-class, market-oriented business environment governed by a sound legal framework, and building a global network of high-standard free trade areas.

The nation will make greater contributions to the global economy and provide the international business community with even more room for development, he added.