China's Xi urges solidarity to back global recovery, slams economic sanctions

China's President Xi Jinping on Wednesday called for solidarity and cooperation to support a global economic recovery threatened by an epidemic and security challenges and criticized sanctions which he said would only bring about disaster. "The Ukraine crisis sounds an alarm for the world," Xi said at the opening ceremony of the BRICS Business Forum via video link.

"Facts once again have proven that sanctions are a double-edged sword." Xi called for stronger macroeconomic policy coordination to prevent the global recovery from slowing or even being disrupted, adding that major developed countries should adopt "responsible" economic policies.

The BRICS nations are Brazil, Russia, India, China, and South Africa.