IANS | 18 Jan, 2017
China
on Tuesday robustly defended globalisation with its President Xi
Jinping arguing at the World Economic Forum here that economic
integration has powered human advancement and improved the lives of
millions of people.
"Many of the problems troubling the
world are not caused by economic globalisation," Xi was quoted
as saying by CNN in his address to the forum as the first Chinese
President to attend the mega economic summit held annually high in
the Swiss mountains.
"Whether you like it or not, the
global economy is the big ocean you cannot escape from."
His
speech was rich in symbolism with Beijing positioning itself as a
global leader at a time when Western powers, and especially the
United States, are retreating from the world stage and questioning
the particular brand of globalisation that now defines global
trade.
"We must remain committed to free trade and
investment. We must promote trade and investment liberalisation,"
he said.
"No one will emerge as a winner in a trade
war."
This year's meeting coincides with the formal
handover of power in the US, with Donald Trump's inauguration
scheduled for January 20, the final day of the forum.
During
the election campaign, Trump blasted international trade deals,
tapping into a deep well of popular anger over globalisation.
He
described one huge US-led trade agreement -- the Trans-Pacific
Partnership -- as a "disaster done and pushed by special
interests who want to rape our country".
Xi told Davos
delegates that globalisation was a double-edged sword, and people
around the world had felt the pain of its failings. But he said it
would be a mistake to retreat into isolationism.
"The
right thing to do is to seize every opportunity to jointly meet
challenges and chart the right course for economic globalisation,"
he said.
China is already pushing its own free trade deal with
leaders from around the Pacific. The forces of globalisation served
as a catalyst for China's economic development, turning the country
into a manufacturing and trade powerhouse. As international trade
boomed, tens of million of Chinese joined the middle class.