New world order needed, Xi tells forum
Targets U.S. in key speech to industry leaders
BEIJING • Xi Jinping has called for a new world order, using a speech at China's flagship business event to launch a veiled attack against U.S. global leadership and to warn against economic decoupling. “International affairs should be handled by everyone,” the Chinese president told the Boao Forum for Asia, an event billed as the country's answer to the World Economic Forum in Davos.
Xi did not name the U.S. in his 18-minute speech but he took aim at Washington's efforts to decouple supply chains and bar critical American semiconductors and other high-tech goods from being sold to Chinese companies such as Huawei.
“The rules set by one or several countries should not be imposed on others, and the unilateralism of individual countries should not give the whole world a rhythm,” he said.
Xi made the comments just days after Joe Biden, U.S. president, and Japanese Prime Minister Yoshihide Suga committed to working together to oppose Chinese coercion in the South and East China seas.
Washington and other Western governments have also been highly critical of Beijing's crackdown on Hong Kong and human rights abuses against Uyghur Muslims in Xinjiang.
“Bossing others around and interfering in other countries' internal affairs will not be well-received,” Xi said.
Despite the geopolitical tensions, U.S. businesses are eager to expand operations in China, which posted 18.3 per cent year on year economic growth in the first three months of 2021. U.S. banks in particular have been keen as Beijing gradually opens up its financial markets.
Western executives scheduled to participate in the four-day Boao Forum, which wraps up on Wednesday, included Apple chief executive Tim Cook, Goldman Sachs president John Waldron, Tesla boss Elon Musk and Stephen Schwarzman of Blackstone.
Xi also called for closer global co-operation on developing, manufacturing and distributing COVID-19 vaccines to improve access in developing countries.