Xi Jinping Slams Sanctions as ‘Double-Edged Sword’ Hurting World Economy

What’s new: Chinese President Xi Jinping called for strengthening macroeconomic policy coordination to overcome the global economic crisis and urged developed countries to pursue responsible economic policies and avoid a serious spillover impact on developing countries.

In a speech kicking off the BRICS Business Forum Wednesday, Xi criticized sanctions as a “double-edged sword” and called for upholding the multilateral trading system with the World Trade Organization at the core, removing trade, investment and technological barriers and building an open world economy.