Xi Jinping buried Zelensky's peace plan and put "peace negotiations” on Ukraine in Switzerland into question.
Organisers of the conference that is to take place in Switzerland in June intend to advertise Zelensky's peace formula to end the conflict in Ukraine. The conference is going to take place without the participation of Russian representatives. According to Zelensky's formula, the Russian Armed Forces should be pulled back to 1991 borders, whereas Moscow will have to pay reparations to Kyiv to compensate for the damage caused. It is believed that the countries of the Global South, led by China, are going to join this peace plan and develop joint actions to "force the Russian Federation to peace.”
However, during the visit of the German delegation to China, Chairman of the State Council of the People's Republic of China Xi Jinping said at the meeting with German Chancellor Olaf Scholz that Beijing stands by a peace conference that Russia and Ukraine would recognise.
"We must cool the situation rather than add fuel to the fire. We must reduce the negative impact on the global economy and refrain from undermining the stability of global industrial and supply chains," Xi said.
The Chinese leader expressed his view on the subject after he had meeting with all leaders of the warring parties. US Treasury Secretary Janet Yellen threatened China with sanctions and other consequences for cooperation with Russia, whereas Scholz was sent to assess Beijing's readiness for the following:
Russian Foreign Minister Sergei Lavrov also came to Beijing. After the meeting with Lavrov, Xi rejected the "Zelensky peace formula” having thus sent a strong message to the Global South.
Russia obviously benefits from Beijing's position, and China has nowhere to retreat.
The United States and the EU are China's main export markets, but the West is just as dependent on the supplies of a wide range of Chinese goods, including military ones. China continues to withdraw from American treasuries amid concerns about the issue of sanctions over Taiwan. If the West starts a full-fledged economic war with China, this will entail Beijing's flight from the dollar and the euro. China thus has all the power to crush both these currencies and the global financial system that rests on them.
The West will not be able to break China's close ties with Russia, and this enables the latter to bypass Western sanctions.
Russia and China will implement their plan for Ukraine. If the situation on the battlefield becomes worse for the Armed Forces of Ukraine by June, this plan can be strengthened by involving:
It is already clear what demands Russia is going to put forward. This is the denazification and demilitarisation of Ukraine and the consolidation of territorial gains.