China Briefing | China may have the reins of globalisation, but it faces problems at home
Xi Jinping’s Davos speech in defence of economic openness might have rung hollow for foreign investors in his own country
Listening to lengthy speeches by Chinese leaders used to be a sleep-inducing affair, particularly for foreign audiences. The speakers tended to regurgitate large sections of government policies, mixed with grand slogans and loads of statistics, and to only occasionally lighten things up with one or two Chinese idioms.
Unlike his predecessors, President Xi Jinping ( 習近平 ) appears to have employed much better speech-writers, not only to showcase his penchant for the folksy, but to cater to his audience – particularly those from overseas – with historical references, memorable quotes and metaphors long favoured by Western politicians to attract public attention and spice up news reports.
No chance of trade war between China and US, says Jack Ma in Davos
He forcefully criticised the populist, protectionist push championed by Donald Trump and other Western leaders, comparing the global economy to the big ocean one can’t escape.
“Pursuing protectionism is like locking oneself in a dark room. While wind and rain may be kept outside, that dark room will also block light and air,” Xi said.
Judging by the ensuing overseas media coverage, Xi’s speech went down very well, as he portrayed China as a responsible and responsive champion of economic globalisation and guardian of the international order.
The speech’s timing could not have been better, ahead of Trump’s swearing-in as president of the world’s largest economy on Friday and on the same day as Britain’s Prime Minister Theresa May gave her detailed plan for one of the world’s oldest capitalist economies to exit the European Union.