As global markets face upheaval from recent tariffs, Chinese President Xi Jinping is touring Southeast Asia this week, positioning China as a beacon of “stability and certainty” while advocating for free trade, The AP reports.
Xi’s diplomatic tour includes stops in Vietnam, Malaysia, and Cambodia.
On Monday, Xi was greeted in Hanoi with full ceremonial honors by Vietnamese President Luong Cuong. During a meeting with Vietnam’s Communist Party General Secretary To Lam, Xi emphasized that China and Vietnam “have brought the world valuable stability and certainty” in a “turbulent world.” He also paid respects at the mausoleum of Ho Chi Minh, the founder of the Vietnamese Communist Party.
“As beneficiaries of economic globalization, both China and Vietnam should strengthen strategic resolve, jointly oppose unilateral bullying acts, uphold the global free trade system, and keep global industrial and supply chains stable,” Xi stated, according to China’s Ministry of Foreign Affairs.
China and Vietnam signed several memorandums of cooperation focusing on supply chains and a joint railway project. Xi also pledged to improve access for Vietnamese agricultural exports to China, although specific details of the agreements remain scarce.
The visit and the accompanying trade promotion efforts are occurring against the backdrop of recent tariffs that have destabilized global markets.
Xi arrived in Kuala Lumpur, Malaysia on Tuesday for a three-day visit. During his stay, he is expected to discuss a free trade agreement between China and the 10-member Association of Southeast Asian Nations (ASEAN), as Malaysia holds the chair of the association this year. Xi is scheduled to meet with King Sultan Ibrahim on Wednesday morning, followed by a meeting with Prime Minister Anwar Ibrahim later in the day.
ASEAN Secretary-General Kao Kim Hourn told Chinese state media that the proposed free trade agreement will eliminate many tariffs between China and the bloc’s members.
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