The entire Asian economy should separate from the US, China urges

Asian economies must "insist on independence and autonomy, unity and self-reliance," a senior Chinese official said on Thursday.
Zhao Leji, chairman of the Standing Committee of the National People's Congress, spoke at the annual Boao Asia Forum.
Several Asian heads of state were present at the conference, including those of Kazakhstan, Sri Lanka and Cambodia.
Zhao urged current members to take sides in the inter-bloc clash, especially as world peace is still under pressure.
As usual in major Chinese speeches, Zhao did not directly mention the current conflicts in Ukraine and the Middle East.
The speech was a clear warning to China's neighbors not to get closer to the United States.
Over the last decade, China has secured a strong presence in Central Asia with its Belt and Road Initiative.
Beijing has built several trillion dollars in land and maritime infrastructure across the continent, often inextricably linking its economy with that of the host country.
Sri Lanka, for example, is in a seemingly insurmountable default cycle due to its indebtedness to Beijing.
At the same time, the United States has an established presence in the Indo-Pacific region and seeks to limit Beijing's expansion.
Important U.S.
allies in the region include Japan, South Korea, the Philippines, and Taiwan.
China's economic recovery nightmare At the conference, Zhao also spoke about China's economic recovery in 2024, saying the country's imports and exports will reach $32 trillion in the following years.
Zhao is the third leading official of the dragon.
His speech at the Boao Conference was very unusual, as it is usually given by President Xi Jinping or Prime Minister Li Qiang.
However, both are busy this week with international meetings.
Yesterday Xi Jinping praised US-China relations in a conference with top American business leaders.
His calming tones contrasted with Zhao's speech, but also reassured international observers.
Xi said co-development between the United States and China is crucial to the future of the global economy.
China is experiencing its worst housing crisis in history and needs American imports more than ever.
In 2023, China's economy fell below expectations, with exports hitting a multi-year low.
However, the first signs of economic recovery were felt in 2024, with exports returning to pre-COVID levels and imports increasing more than expected.
Analysts and experts widely expect the Chinese government to issue measures to strengthen the economic recovery.
The CCP has already flatly refused to bail out struggling property developers, saying they should go bankrupt instead.
At the same time, it maintains the GDP growth target of 5% for 2024.
Article published on Money.it international edition on 2024-03-28 13:34:42.
Original title: Asian economies should decouple from US, top China official said