Chinese president urges leaders to say “no to protectionism”

The president of China, Xi Jinping, yesterday urged world leaders to “say no to protectionism” and stay committed to the development and promotion of free trade. “We must remain committed to the development of free trade and investment, promote trade and investment, the liberalisation and facilitation (of trade) through openness and say no to protectionism,” Xi said in a speech to open the World Economic Forum held in Davos.

“Pursuing protectionism is like locking oneself in a dark room, where the wind and rain may stay outside, but light and air do too,” the Chinese president insisted. In his first speech to the Davos Forum, Xi stressed before a select audience of leaders from the political and economic spheres, as well as civil society, that “there will be no winner in a trade war,” promising that China will “keep its door wide open and not close it,” referring implicitly to US president- elect Donald Trump, who has advocated a protectionist policy.

The Chinese president said Beijing will “vigorously” promote an external climate of openness for common development and advance the free trade area in Pacific Asia. The goal of China is to create a “global network of free trade agreements” with open treaties, he added.