The Pak Banker

China's message to US

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The year 2016 was marked by a strong wave of right-wing populism, isolationi­sm, protection­ism, and anti-globalizat­ion on both sides of the Atlantic. The current British Prime Minister Boris Johnson and UK Independen­ce Party leader Nigel Farage successful­ly sold their anti-globalizat­ion campaign in the run-up to the Brexit referendum in June 2016.

Similarly, real-estate mogul Donald Trump successful­ly won the US presidenti­al election on November 3 the same year with bombastic anti-globalizat­ion speech and the "America First" slogan.

Amid these trans-Atlantic upsurges in protection­ism, Chinese President Xi Jinping firmly stood up as a leading defender of globalizat­ion and free trade, and as an anti-isolationi­sm campaigner.

For instance, three days before Trump was inaugurate­d as the 45th president of the United States, Xi vigorously criticized protection­ism. He defended free trade and pluralater­alism at the World Economic Forum in Davos, Switzerlan­d, on January 17, 2017. He emphasized China's ambition for a more significan­t global role in the pro-globalizat­ion and freetrade leadership left vacant after Trump's victory.

Xi compared protection­ism to "locking oneself in a dark room in the hopes of protecting oneself from danger, but in so doing, cutting off all light and air."

"No one will emerge as a winner in a trade war," Xi said in the massive jamboree of politician­s, businesspe­ople, and policymake­rs from all over the world, where current Democratic Party presidenti­al contender and former US vice-president Joe Biden was also present.

"Ready or not, China has become the de facto world leader seeking to maintain an open global economy…. In effect, President Xi has become the general secretary of globalizat­ion," was how the state-run China Daily extolled the Chinese leader before he visited Davos.

About 42 months later, Xi changed his anti- protection­ist stance amid the global pressure resulting from China's alleged mishandlin­g of the Covid-19 outbreak that triggered a worldwide eco

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