Middle East turmoil unlikely to go global
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GT: According to the Ministry of Commerce, Chinese companies have lost a total of $1.5 billion in Libya's turmoil. What is your comment?
Wu: As we are cooperating more and more closely with other countries, such risks and losses are inevitable. But that doesn't mean we should stop cooperation because there are risks.
Faced with the new situation, we need to strengthen our ability at risk assessment and prevention.
China and the Arab nations are highly complementary economically. There is great potential for our future cooperation. But meanwhile, we should grow more capable in dealing with risks. It is what Chinese companies operating internationally must learn.
GT: The political map is being redrawn. How should China adjust its development strategy in this region to protect its interests?
Wu: We have established friendly bilateral relationships with all countries in the region, both Arab and non-Arab. Besides bilateral relationships, we also have good cooperative relationships with the League of Arab States and the Gulf Cooperation Council (GCC). Now we are making efforts to push forward the free economic zone negotiation with the GCC. All these will continue to drive the benign development of our relationship with this region.
Meanwhile, China is actively engaged in solving hot issues in this region. For instance, China has been advocating solving the conflict between Palestine and Israel via peaceful means.
No matter how the situation will develop in this region, I'm optimistic about the relationship between China and these countries.
Our policy is consistent. We are developing relationships of mutual respect and will not interfere in other countries' affairs. History proves that our policy works well and is popular. I don't think big adjustments need to be made.
GT: China is relying more and more on the energy supply from the Middle East. Do you think it will force China to engage more in this region's affairs?
Wu: China is cooperating with countries in the Middle East in many areas. Energy is an important one. As oil-producing countries, they need a stable oil market like China, and China needs oil supply. It is beneficial to both parties and is also one basis for a stable development of their relationship.
China has been concerned with the development of this region. Even before we started importing their oil, we had already had friendly relationship with these countries and strongly supported them in their pursuit of independence, stability and development.
But I don't think we will interfere in these countries' internal affairs as the US did. Arab countries have their own history and ancient civilization, and I think they have the capability to solve their own problems.
GT: Some people hold that the present turmoil might cause the fourth oil crisis. What's your comment?
Wu: I think it is a little exaggerated. I cannot see this prospect from now. Even though the turmoil has affected the oil price, I believe it is not to the point of oil crisis yet. The situation is generally stable and the turmoil is regional at present. Previous oil crises all occurred in an important context and special circumstances. This time, there is not such an environment.
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