Chinas upgrading bilateral relations with Zambia encourages more use of local cu

China's official Friday (September 15) met with Zambian President Qi Lema, the President of East Africa, who visited China, and announced the upgrading of bilateral relations and expressed encouragement to use more consumption in trade and investment.Interviewed scholars analyzed that China has continued to deepen its connection with the global southern countries in the near future, and also increases the dependence of joint developing countries to reduce its dependence on the US dollar, which is intended to cope with the increasingly decoupling trend with the Western economy.

China official on Friday in the Great Hall of the People in Beijing, and held a talks for the first time in China to conduct a state visit to China for the first time since I was in power in 2021.Chicorma was criticized by domestic domestic criticism at the expense of the relationship with China.

The heads of state of the two countries announced that China -Zhan relations were promoted to "comprehensive strategic partnerships". After the meeting, they also issued a joint statement to encourage more use of local currency settlements in trade and investment, so that the exchange costs of two countries can reduce exchange costs and reduce exchange costs, reducecurrency risk.

Copper priced at the dollar accounts for about 70 % of the export revenue of Zandibia; China accounts for about half of global copper demand.Increasing the use of local currency settlement may help reduce dependence on the US dollar.

Zhu Ming, CEO of China Zhendan Think Tank and Senior Researcher, studied and judged in an interview with Lianhe Morning Post. In the face of long -term strategic competition in China and the West, China has no intention to directly overthrow the US dollar hegemony.Raw materials and countries with a trade surplus in China have strengthened the local currency to exchange each other as the first step in promoting the internationalization of the RMB.

In January of this year, China and Argentina officially expanded the currency swap agreement; the two countries signed an agreement in June to extend the total amount of 130 billion yuan (new 24.4 billion yuan) for three years.

Zhu Ming analyzed that currency exchange can not only increase settlement convenience, allow the RMB to flow better in the international market, and stabilize these countries to supply industrial raw materials in China and reduce the risk of impacting the US dollar financial market.

On the other hand, Zhongzan also mentioned the Russian -Ukraine conflict in the joint statement, calling on the international community to cooperate with the spilling effect caused by crisis in the fields of grain, energy, and reduce the negative impact on African countries.

Zambia currently bear $ 6.3 billion (S $ 8.6 billion) in debt, and China is its largest bilateral debt country.In the joint statement, Zambia thanked China for playing a key role in the Zambia Debt Division, but did not disclose the details.

Zhu Ming analyzed that, as a inland country, Zambia has a long -term economic lack of highlights. At present, it is still facing the double impact of global economic weakness and the Russian -Ukraine conflict that affects food transportation.Kimaga in the West looked at China, not only hoping to fight for time through debt restructuring, but also intended to expand trade with China and export more industrial raw materials to China in exchange for more food.

On the other hand, Li Xi, member of the Standing Committee of the Political Bureau of the Communist Party of China and Secretary of the Central Commission for Discipline Inspection, was a Special Representative of China on Friday and attended the "77 Country Group (G77) and China" summit in Havana, Cuba.During his speech at the meeting, he did not name it to criticize individual countries to engage in unilateral sanctions, detachable chains, and seriously damage the proper development rights and space in developing countries in the development of countries, and called for resolutely opposing the group's confrontation with the Cold War.

Li Xi emphasized that China will always be a member of the major families and global southern countries in developing countries. They are willing to communicate closely with the G77 members, optimize the investment in development resources, and give play to the maximum effectiveness of public products such as the “Belt and Road” initiative.

Zhu Ming analyzed that in the face of the trend of the global economy, China has recently strengthened relations with the global southern countries. It aims to hedge the risk of westward to China. At the same timeStrong, seek more political and economic returns.