Chinese President Defends Free Trade and Globalization at Davos

On Tuesday, Xi Jinping, the President of China, warned at the beginning of the World Economic Forum in Davos, Switzerland, about the potential onset of a 'new trade war' in the world, stating that no one would win such a war. Speaking as the keynote speaker at the World Economic Forum on January 17, he defended the process of economic globalization and implicitly criticized politicians seeking to impose restrictions on the economy, saying, 'Pursuing restrictive policies is like locking oneself in a dark room.' He emphasized that globalization has led to growth and technological advancement in the world and brought people closer together. The Chinese President considered cooperation with the global economy a historical process that cannot be resisted. He identified the main challenge in this path as creating balance in the process of globalization and warned about the challenges facing the global economy, including the deepening gap between the rich and the poor and the rise of terrorism, while implying recent political developments in various countries. He also stated that globalization should not be blamed for the current problems in the world. Although he did not mention Donald Trump, the President-elect of the United States, by name, it appeared that he criticized the possibility of a new trade war in remarks that referenced Mr. Trump's positions, asserting that no one would win such a war. During his 2016 election campaign and afterward, Donald Trump criticized China's economic policies and mentioned the possibility of imposing tariffs and customs penalties on imports to the U.S., raising concerns about a new type of trade war. In another part of his remarks, which seemed to reference Donald Trump again, he addressed the importance of the Paris Agreement in reducing greenhouse gas emissions worldwide, stating that all signatories to the agreement must adhere to it. Trump, who has denied climate change and described it as a conspiracy by China on several occasions, had previously spoken about the need for the U.S. to withdraw from the Paris Agreement but later softened his stance somewhat. Nonetheless, he has expressed concern about the impact of implementing this agreement on the American economy.