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Home Latest Global Business News Xi Jinping warns against Trump's possible protectionism policy

Xi Jinping warns against Trump's possible protectionism policy

 
Despite growing speculation that China is slapping trade bans on Korean imports in protest over Seoul's decision to deploy the THAAD missile defense system on Korean soil,... President Xi Jinping has hit back at U.S. President-elect Donald Trump's potential protectionism measures.
 
Becoming the first Chinese leader to speak at the World Economic Forum, President Xi highlighted Beijing's desire to play a bigger role in globalization.
 
Kim Mok-yeon has more.
 
In a speech on Tuesday at the World Economic Forum in Davos, Chinese President Xi Jinping positioned himself as a defender of globalization and free trade.
 
He offered a vigorous defense of globalization stressing that the flaws of economic globalization should be prevented and its benefits should be spread out wide.
 
"Rather we should adapt to and guide economic globalization, cushion its negative impact and deliver its benefits to all countries and all nations."
 
President Xi likened protectionism to "locking oneself in a dark room" to protect oneself from danger, but he said it's depriving the room of "light and air" at the same time, as he warned against any country pursuing their own interests at the expense of others.
 
xijinping warns against trump protectionism
 
The Chinese leader did not directly mention U.S. President-elect Donald Trump by name, but many view his statements as a response to Trump's expected policy of protectionism.
 
Trump and his supporters have sharply rejected globalization and many existing trade deals, pledging to protect U.S. industries from foreign competition and levy new tariffs on goods from China and Mexico.
 
Experts say President Xi's speech signals China's will to take a bigger role on the global stage if the U.S. become more isolationist.
 

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