Xi Jinping in Davos: the Warming Sunshine of Economic Globalization

“Davos: China’s president Xi Jinping argues for a liberal economic order”, German business paper “Handelsblatt” titled on its front page on Wednesday. (Not quite the headline, though – that was a news article on Theresa May‘s Brexit speech.) The paper also quotes incoming US president Donald Trump‘s advisor, Anthony Scaramucci, as saying that the US didn’t want a trade war, “but we want fair trade”, and that Trump’s attacks on NATO and EU had been misinterpreted.

The editorial in the same edition is enthusiastic: Xi Jinping‘s Davos speech had been “a dressing-down for populists”, argues Handelsblatt editorialist Stephan Scheuer, and provided “a keynote for discussions of the coming years”. Xi’s unambiguous message was that China would “not close its doors, but open them further for the world.”

Scheuer’s Wednesday editorial seems to confirm the impression of a Chinese government researcher, Zhao Jinping (赵晋平), who was quoted by “People’s Daily” as saying that reactions to Xi’s speech had been sympathetic (共鸣).

Gulliver in Smurfland (Xinhua artwork)

Gulliver in Smurfland (Xinhua artwork)

While Zhao pointed out that globalization remained the international mainstream consensus, Xi Jinping himself found more flowery words to express the same belief (as quoted in another “People’s Daily” article):

“The global economy’s vast sea, if you like it or not, is there, and you can’t avoid it.” Xi Jinping pointed out that a desire to artificially cut every national economy’s capital flows, technology flows, flows of products, industries, and people, and to shrink the vast sea of the global economy to an isolated small lake, or a small river, was impossible, and would not be in correspondence with the historic trend. When facing economic globalization’s opportunities and risks, the right choice is to make full use of the opportunities, to cooperate to respond to challenges, and to guide the direction of economic globalization well.

“世界经济的大海,你要还是不要,都在那儿,是回避不了的。”习近平指出,想人为切断各国经济的资金流、技术流、产品流、产业流、人员流,让世界经济的大海退回到一个一个孤立的小湖泊、小河流,是不可能的,也是不符合历史潮流的。面对经济全球化带来的机遇和挑战,正确的选择是,充分利用一切机遇,合作应对一切挑战,引导好经济全球化走向。

And:

Protectionism is like locking oneself into a dark room, as if one wants to avoid the hardship, but also the warming sunshine. The result of trade wars would only bring harm to both sides.

搞保护主义如同把自己关进黑屋子,看似躲过了风吹雨打,但也隔绝了阳光和空气。打贸易战的结果只能是两败俱伤

But not everyone appears to have become fully convinced this week that the hero now lives in Beijing, and that the villain is going to reside in the White House. Frank Sieren, a columnist who had been accused by his former Deutsche Welle colleague Su Yutong of being too nice to Beijing more than two years ago, reminds his readers that Xi, no less than Trump, would stand against those who are currently lauding him – whenever that makes sense for him. And both Xi and Trump would have to pursue goals of their own: China would have to get more integrated with the world to be successful, and America would need to produce more goods at home, without making the products more expensive for Americans.

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