News World

From Davos to Boao, globalization needs boost at defining moment

Chinese President Xi Jinping

Liu Chang, Shang Jun – Xinhua writers
BOAO, China, April 8 (Xinhua) – Over a year ago, Chinese President Xi Jinping vigorously defended free trade at the World Economic Forum annual meeting in Davos, impressing the world with China’s staunch support for globalization. 
That defense has become more relevant today.
Globalization, the historic process which has brought different countries and peoples closer over the past two centuries, is now under attack and regarded with growing doubts. Isolationism is rising, along with trade protectionism and economic chauvinism.
In particular, Washington’s protectionist pivot is not only worrying, but damaging as well. Over the past year or so, it has tried to bully its trading partners into making concessions by wielding the big stick of punitive tariffs. What’s more, the so-called “America First” doctrine touted by U.S. President Donald Trump in Davos in January poses a serious challenge to the rules-based multilateral trading system once established by Washington itself.
At this defining moment when globalization desperately needs support, the READ FULL STORY

Facebook Feed

Ad1