[국제]China growing its presence in the ‘new cold war’… South Korea placed in a tough choice

Since the war in Ukraine that began in February of last year, the whole world is being reorganized into a ‘new Cold War confrontational structure’.

In the midst of this, as China is expanding its influence diplomatically and economically, there are concerns that Korea’s room for maneuver will be further narrowed in the future.

Reporter Lim Soo-geun on the sidewalk.

On the 10th, when the National People’s Congress was held to confirm Chinese President Xi Jinping’s third consecutive term,

The Chinese government has brought Saudi Arabia and Iran, the “enemies” of the Middle East, to Beijing to normalize relations.

It was an important diplomatic victory for China in the Middle East, which used to be the home of the US and Russia.

[왕원빈 / 중국 외교부 대변인 : 중국은 중동 국가들이 독립정신을 고취하고, 연대와 협력을 강화하며, 평화롭고 안정적이며 번영하는 중동을 공동으로 건설하는 것을 지지합니다.]

China then gave Saudi Arabia a loan in yuan to pay for trade.

It is an extension of the agreement to pay for oil in Yuan during Xi Jinping’s visit to Saudi Arabia last December.

[시진핑 / 중국 국가주석 (지난해 12월) : 상하이 석유가스거래소를 플랫폼으로 최대한 활용해 석유와 가스 무역에 대한 위안화 결제를 추진할 것입니다.]

China’s challenge to dollar hegemony is already being realized in part.

It’s a special case, but in February, the renminbi’s trading volume on the Russian foreign exchange market recorded $19.6 billion, surpassing the dollar’s $18.8 billion for the first time.

In addition, if you start paying instead of the dollar, including oil transactions with Saudi Arabia, it is clear that the yuan will increase its status even if it is not the key currency right away.

Last year, Korea’s trade with China amounted to 310 billion dollars, more than the United States and Japan combined.

Starting with this Korea-Japan summit, the Yoon Seok-yeol government has entered the Indo-Pacific strategic system of the United States and Japan for the purpose of encircling China.

Wise choices have become more important in harsh environments such as supply chains, military, diplomacy, and North Korea’s nuclear weapons.

This is YTN Lim Soo-geun.

YTN Lim Soo-geun ([email protected])

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