Chinese President Xi Jinping talked up the value of international cooperation and economic openness from a podium in Vietnam on Friday.
That speech came right on the heels of an address from President Donald Trump, who similarly called for economic openness, but struck a harsh tone against countries he deemed guilty of “chronic trade abuses.”
Xi was delivering the highly-anticipated speech to a congregation of political and business leaders at the Asia-Pacific Economic Cooperation summit in Da Nang.
“Over the last few decades, economic globalization has contributed significantly to global growth. Indeed, it has become an irreversible historical change,” said Xi according to a provided translation.
“In pursuing economic globalization, we should make it more open, more inclusive, more balanced, more equitable and more beneficial to all,” Xi added.
The summit this year is focused on regional trade with particular attention on the Trans-Pacific Partnership deal, from which Trump removed the U.S. early in his White House tenure.
Experts say that move elevated the importance of another regional trade deal, the Regional Comprehensive Economic Partnership, that’s spearheaded by China and excludes the U.S.
Xi is attending the APEC meeting fresh out of the 19th Chinese Communist Party Congress last month during which he consolidated power at the top of the political totem pole. In the last year, he has also sought to market the world’s second-largest economy as the flag bearer of free trade — despite the fact that many elements of China’s economy are not open.
After three decades of breakneck growth, China’s global influence has expanded significantly. For its part, the East Asian giant maintains it’s not a threat to any country, as Xi has pledged peaceful development on the international stage.
World leaders also at the APEC Summit include Trump, Russian President Vladimir Putin and Japanese Prime Minister Shinzo Abe.
Source: cnbc china
China's Xi preaches 'openness' and 'cooperation' after Trump comes out swinging