Chinese President Xi Jinping offered a vigorous defence of globalization and free trade in a speech at the World Economic Forum in Davos on Tuesday, which underscored Beijing’s desire to play a greater global role as the United States turns inward.
Likening protectionism to “locking oneself in a dark room” to protect from danger, but at the same time depriving the room of “light and air,” he cautioned other countries against pursuing their own interests at the expense of others.
Xi did not mention Donald Trump in his speech of nearly an hour, but many of the messages he sent seemed directed at the US president-elect, who campaigned for the White House on pledges to protect American industries from foreign competition and levy new tariffs on goods from China and Mexico.
“No one will emerge as a winner in a trade war,” Xi told the forum in the Swiss Alps.
He said economic globalization has become a “Pandora’s Box” for many, but that it was not the cause of many global problems. He added that international financial crises were caused by the excessive pursuit of profits, not globalization.
Xi’s appearance, a first for a Chinese leader at the annual meeting of political leaders, CEOs and bankers in Davos, came as doubts emerge about whether the United States will remain a force for multilateral cooperation on issues like trade and climate change.
Europe, meanwhile, is preoccupied with its own troubles, from Brexit and militant attacks to the string of elections this year in which anti-globalization populists could score gains.
This has left a vacuum that China seems eager to fill.
“It is no coincidence that Xi chose this year to make the trip up the magic mountain,” said Ian Bremmer, president of Eurasia Group, a US-based political risk consultancy.
More than half a dozen senior Chinese government figures are in Davos this week, far more than in past years. And a large number of sessions are focused on Asia, including one entitled “Asia Takes the Lead.”
WEF founder Klaus Schwab said Xi’s presence was a sign of the shift from a uni-polar world dominated by the United States to a more multi-polar system in which rising powers like China will have to step up and play a bigger role.
“In a world marked by great uncertainty and volatility the world is looking to China,” Schwab said before Xi spoke.
Donald Trump who will become the next American president in the next few days is perhaps is the least qualified person to lead a great nation. His policies will do lots of damage mostly in foreign affairs , trade etc. He once boasted that he does not read books to understand human history.
But, one need NOT panic, for US has a long history of democracy, despite many flaws and painful events So Trump, his minions and surrogates won’t end March of American nation.. Trump’s next four years will only be an aberration.
Trump soon will learn the fact as once stated by a former prime minister Mr. Manmohan Singh, that " trade is a two way street between nations".
Yes trade is a two way street between nations and the trade between nChina and the United States is a 1 1/4 way street. Trump does not blame China for the outrageous trade surplus China has over us, he blames the trade negotiators. He blames the practice of multilateral trade agreements and prefers bilateral trade agreements which have profited Chgina all over the world. He argues that China has manipulated its curre3ncy and a casual inspection gives that significant credibility. China has many millionaires and billionaires and a rising middle class and the country has modern infrastrucure yet their prices and wages are far below those in the United States which has legacy millionaires and billionaires and an aging infrastrucure and declining middle class. Something is not right. China has devalues the Yuan a number of times to adjust its commerce. Trump blames the US tax code and greedy multinational corporations and he is addressing that. He is spot on and you nand your friends are too stupid to see that. You are also too stupid to see that China is trying to marginalize the US economically and if successful we will know how Argentina feels.
If Trump does what he says, there is only one explanation: God sent him.
Regardless his policies are good for America or not, the boat of the political and economical systems in that country will be rocked.
The weakening of US leadership on the world stage will accelarate, and the vaccume will be promptly filled by Europe, Russia, and even China.
Its a simple fact, the US is unwilling to let go of its position as world leader. It is declining. What it has to sell is military weapons , that is about it. Trump will insure that industry continues to grow. China operates on a win win situation. Not contingent on trade plus military agreements with other countries. If any country has a history of manipulation and interference and betrayal it is the US. When ever they want to bring a country down , they start demonizing them to get public support. They have accused China of currency manipulation in the past. They were criticized because they have size limits on foreign corporations in their country. They changed the size limit somewhat to appease the US. Still not enough. Now its back to currency manipulation. Trump will bring back very low paying jobs to the US and continue on his rebuilding america while he, as the last few presidents, find a new war or escalates an old one . Its the only way the US can make money.