Chinese President defends free trade at World Economic Forum
He called it"locking oneself in a dark room" to protect from danger, but at the same time depriving the room of "light and air", he cautioned other countries against pursuing their own interests and said that free trade was not a cause of strife.
"No one will emerge as a winner in a trade war," Xi told the forum in the Swiss Alps.
He said economic globalization has become a "Pandora's Box" for many, but that it was not the cause of many global problems. He added that international financial crises were caused by the excessive pursuit of profits, not globalization.
"It is no coincidence that Xi chose this year to make the trip up the magic mountain," said Ian Bremmer, president of Eurasia Group, a U.S.-based political risk consultancy.
More than half a dozen senior Chinese government figures are in Davos this week, far more than in past years. And a large number of sessions are focused on Asia, including one entitled "Asia Takes the Lead".
"In a world marked by great uncertainty and volatility the world is looking to China," Schwab said.
source: foxbusiness.com
