Domestic Economic Woes Boil Over as Xi Jinping Spends Big at G20 Summit

These elderly individuals stood in front of the meat stall for a long time but eventually walked away without buying anything. Such scenes of elderly people are common across China. Who will care for them? (Video screenshot)

November 19, 2024 - In recent years, China’s economy has been in continuous decline, with skyrocketing local debts, widespread economic stagnation, increasing family disputes under financial stress, and issues of judicial injustice. This has led to frequent incidents of violent crimes, fueling public discontent. Despite this, Chinese leader Xi Jinping announced significant financial commitments to so-called "Global South" countries at the G20 Summit in Rio de Janeiro, Brazil.

According to a report by Xinhua News Agency on November 19, Xi Jinping introduced a series of measures during the G20 Summit to support "Global South" nations.

Xi unveiled eight key initiatives, including: Allocating an additional 780 billion RMB in financing for the Belt and Road Initiative. Providing 360 billion RMB in funding support for Africa. Granting 100% zero-tariff treatment to all least developed countries (LDCs) that have diplomatic relations with China. Committing to import over $8 trillion worth of goods from these countries by 2030.

According to Reuters, Beijing aims to use this increased support for developing countries to further expand its political and economic influence.

While the tightly controlled Chinese platform Weibo featured only sporadic pro-government comments, overseas social media platform X saw widespread criticism from Chinese netizens:

"Acting like the leader of a beggars’ guild, throwing money around extravagantly."

"Debt domestically, spending lavishly abroad."

"A leader who disregards the Chinese people’s plight doesn’t deserve to lead."

"International bribery while ignoring the lives of domestic citizens."

"Did the $30 billion given away earlier get delivered? Now more is being handed out. Can’t you give the people a breather?"

"The Belt and Road is leading the country to ruin—ordinary people can’t survive anymore."

"Zero tariffs? Will domestic prices go down? Will people’s living costs decrease?"

"We just want the CCP to step down. The new government shouldn’t waste the people’s resources!"

"The CCP has so much money, yet the domestic economy is so poor."

"There’s no hope for recovery. Does anyone still fall for this propaganda? Let them taste the fruits of their own actions."

"While citizens suffer, they still funnel money to their African 'brothers.' Truly worthy of 'respect.'"

"The unlucky Chinese people must now support Africans with their hard-earned money."

"The way to fix economic problems is to borrow money and give it to the neighbors."

"What can these 'least developed countries' possibly offer for import?"

"Does the CCP see itself as a savior? Are they trying to buy goodwill or hide their crisis?"

"People are broke, yet the government still pretends to be wealthy—it’s all grassroots money being squandered!"

"During the Soviet era, funding allies despite an economic collapse contributed to its downfall. Is China heading down the same path?"

"This isn’t just a joke from the Soviet era or Mao’s time; now Xi is following suit."

The G20 Summit opened in Brazil on November 18, 2024. Observers noted warm interactions among world leaders, while Xi Jinping appeared isolated, sitting alone and visibly awkward.

Photos from the event show U.S. President Joe Biden, French President Emmanuel Macron, South African President Cyril Ramaphosa, Portuguese Prime Minister António Costa, and Indian Prime Minister Narendra Modi engaging in lively conversations. Meanwhile, Xi seemed to struggle to find opportunities for interaction, looking uncomfortable in comparison.

Political commentator Zhong Yuan wrote in Epoch Times on November 19 that despite the CCP’s claims of "great power diplomacy," the G20 Summit revealed the reality. While world leaders actively built closer personal connections, Xi appeared out of place. For most leaders, interacting with Xi likely offered little appeal. The true nature of "great power diplomacy" was laid bare.

Edited by: Li Renhe