Reply To:
Name - Reply Comment
Last Updated : 2024-04-25 18:55:00
AFP: Chinese President Xi Jinping said yesterday that there is no point in blaming economic globalisation for the world’s problems, adding that no one would win a trade war.
The leader of the world’s second largest economy made the comment at the World Economic Forum, where he became the first Chinese President to address the well-heeled gathering.
His appearance comes as China is looking to play a greater role in global institutions amid rising protectionism in the US and Europe.
There is “no point in blaming economic globalisation for the world’s problems,” he said, saying that the process was not at the root of the Syrian refugee situation and 2008 financial crisis. Globalisation should be ‘more inclusive, more sustainable,” he said, adding that currently existing global institutions are “inadequate” and should be more ‘representative.’
Xi’s speech was highly anticipated by Davos attendees, a global elite who have been caught off-guard by the rising sentiment against liberal trade regimes, and are looking for guidance as the US, under president-elect Donald Trump, looks set to abandon its leadership position in international governance. In an oblique reference to Trump, Xi said that “no one will emerge as a winner in a trade war.”
The incoming US leader has repeatedly accused China of carrying out trade policies that have led to massive US job losses and has threatened to slap tariffs of up to 45 percent on the country’s goods.
Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Reply To:
Name - Reply Comment
US authorities are currently reviewing the manifest of every cargo aboard MV
On March 26, a couple arriving from Thailand was arrested with 88 live animal
According to villagers from Naula-Moragolla out of 105 families 80 can afford
Is the situation in Sri Lanka so grim that locals harbour hope that they coul