Xi invokes Gettysburg Address in China defense of free trade
Chinese President Xi Jinping gave a forceful argument Tuesday for globalization and pushed back against talk of protectionism that was a hallmark of President-elect Donald Trump’s economic policy during his campaign. “No one will emerge as a winner in a trade war,” he said at the World Economic Forum before a crowd of 1,250 global leaders and CEOs. “Some people blame economic globalization for what has gone wrong in our world,” Xi said. “It is true that economic globalization has created new problems, but this is no justification to write off economic globalization all together.” Xi’s attendance at the annual gathering for business leaders and the international elite comes as China has sought to present itself as a force for stability after Trump’s election and the United Kingdom’s vote to leave the European Union. Both of those events were perceived as victories for anti-establishment forces. Trump has threatened to slap tariffs on some foreign-made goods and sanction China for manipulating its currency.
Xi, the first Chinese head of state to visit the forum, did not mention Trump by name, but he addressed many of the trade and economic issues Trump raised during his campaign.
“Say no to protectionism,” Xi said. “It is like locking yourself in a dark room. Wind and rain are kept out, but so are light and air.”
Xi said China would keep its door “wide open” to free trade and would not start a trade war by devaluing its currency. China contributed 39% to world economic growth in 2016, an increase of 14.2 percentage points from 2015, according to the International Monetary Fund.
The speech was loaded with Chinese proverbs, American expressions and mixed meta- phors. In committing to sustainable development, Xi said, “We know only too well that there is no such thing as a free lunch in the world and that no pie will fall from the sky.”
Xi also invoked the words of President Abraham Lincoln’s Gettysburg Address, which he had seen with President Obama during a state visit to the U.S. in 2015.
“No country should view its development path on its own,” Xi said. “Development is of the people, by the people and for the people.”
Anthony Scaramucci, a Trump transition aide and the only member of Trump’s team to attend the forum, said the administration wants to work with China. “We want to have a phenomenal relationship with the Chinese, but if they really believe in globalization and the words of Lincoln, then we need to find a way to get more symmetry in trade deals,” he said.
IHS Markit chief economist Nariman Behravesh said Xi’s remarks on opening up China to more imports and direct foreign investment were encouraging but should be viewed with caution.
“Actions speak louder than words. A lot will depend on what China does,” Behravesh said. “This is a good set of commitments on his part. It is encouraging, but we will see what the follow through is.”
“No country should view its development path on its own. Development is of the people, by the people and for the people.” Chinese President Xi Jinping