At WEF, President of China call US President's economic policy as "protectionist"

Davos : While speaking at the World Economic Forum that took place in Davos, the Chinese President Xi Jinping strongly supported globalization. At the same time Xi Jinping also criticized the protectionist economic approach accepted by the President -elect of US, Donald Trump. Xi Jinping taunted, that to pursue a protectionist approach is like locking oneself in a dark room which would protect one from the wind and rain, but also block the sunshine and air. Again there are no clear cut winners in a trade war, said Jinping and indicated that China has no interest in waging a trade war against US.

The Chinese President’s strong criticism at Davos, against the protectionist economic approach of Trump has come at a time when only two days are left for the President-elect’s swearing –in ceremony. Speaking for the first time at the World Economic Forum, President Jinping clearly indicated that China will strongly advocate the cause of globalization. If US under Trump’s leadership accepts a protectionist approach and slows down the process of globalization then China is willing to replace US, added Jinping clearly. President Jinping said that China has kept its doors open and will always keep it open for globalization.

The process of globalization was earlier perceived as Ali Baba’s treasure trove, where a lot of treasure would be stacked. However, the same process has become a ‘pandora’s box’ and a source of unimaginable happenings, says President Jinping. The cause of all the economic problems the World is facing today, need not be blamed on the liberal economic policies alone. The economic slowdown of 2008 was the result of tendencies to pursue excessive profits, said the Chinese President. It is worth noting the way President Jinping is promoting globalization. However there a gap between speech and action. Until and unless China assumes progressive policies to speed up globalization, their words cannot be trusted, feel economic experts.

In the meanwhile, President Jinping met the US Vice-President Jo Biden at Davos. He expressed satisfaction that during President Obama’s term, the cooperation between US and China had been stable. He added that maintaining this cooperation permanently would be in the interest of all. In his speech at the World Economic Forum, he indicated that there are no winners in a trade war and China is not interested in starting one with US. If however, US provokes China into it then it would be at a tremendous loss to US, is the clear message from the Chinese President’s speech.