China seeks lead role in world

Associated Press

DAVOS, SWITZERLAND

With the U.S. increasingly looking inward and China eager to take a lead on the global stage, Chinese President Xi Jinping on Tuesday cast his country as a champion of free trade and stability, a rebuke to the isolationist urges that helped carry Donald Trump to power.

Some of the elites listening in Davos, Switzerland, hailed a statesmanlike, even Barack Obama-like speech from Xi as the first Chinese head of state to attend the World Economic Forum – even if it depicted a Chinese commitment to open markets that falls short of reality.

The speech, rife with metaphor and allusions to Ali Baba, Chinese proverbs and even Abraham Lincoln, highlighted a high-brow effort to make a contrast with an incoming U.S. leader whose own words regularly stirred controversy at home and abroad and created new doubts about U.S. leadership in the world.

“We must remain committed to promoting free trade and investment through opening up and say no to protectionism,” Xi told an opening meeting of the WEF.

During his campaign, Trump promised to raise tariffs on Chinese goods and declare Beijing guilty of keeping its currency artificially low. That would be a first step toward imposing sanctions. But in fact, for the past couple of years China has been intervening in markets to prop up its currency, not push it lower.