Globalization of the world economy is a process which is characterized not only advantages but also disadvantages, however it does not mean that authorities should focus only on defending their own interests, said the Chinese President, XI Jinping.
“The right will use every opportunity to jointly take up the challenge and charting the right course of economic globalization,” said XI Jinping, speaking on Tuesday at the world economic forum in Davos, Switzerland (quote via CNN).
The Chinese President explained that the reason struck Europe of the influx of migrants was not globalization itself, but war and conflict and the financial crisis of 2007-2008 triggered a race for profit and lack of regulation of the economy. To deal with these phenomena, according to the head of the PRC, it is necessary, but the rejection of joint action and self-isolation will only worsen the situation.
“We must say no to protectionism,” said XI, noting that the supporters of protectionism to shelter from danger, ready to “lock yourself in a dark room, depriving themselves of air and light” (quoted by Deutsche Welle).
Head of China warned the authorities of other countries from trying to take care of their own interests at the expense of others, expressing confidence that “nobody will be able to win in a trade war”.
XI Jinping became the first head of China in the history of attending the world economic forum in Davos (Switzerland), which started on Tuesday, January 17.