World needs China, US to have stable relationship : Xi

Chinese President Xi Jinping attends the World Economic Forum annual meeting in Davos, Switzerland on Tuesday.
Chinese President Xi Jinping attends the World Economic Forum annual meeting in Davos, Switzerland on Tuesday.
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Reuters, Beijing :

The world needs China and the United States to have a stable and cooperative relationship, Chinese President Xi Jinping told U.S. Vice President Joe Biden, just days before new uncertainty looms with Donald Trump taking office as president.
Meeting on the sidelines of the World Economic Forum in Davos, Xi told Biden that he “positively appraised” his efforts to increase friendship and mutual understanding between the two countries, China’s Foreign Ministry said late on Tuesday.
“In the 38 years since the establishment of diplomatic relations, relations between the two countries have weathered wind and rain, but generally have continued to forge ahead,” the statement paraphrased Xi as saying.
Under President Barack Obama, there has been a “correct” development in relations, and important and positive results achieved, with trade and people-to-people exchanges reaching new highs, Xi added.
“The basic interests of the people of both countries and the world need China and the United States to work hard, to form a long-term, stable cooperative relationship,” Xi said.
The statement cited Biden as saying that the United States hopes the two countries can continue to deepen mutual trust and expand cooperation.
It made no mention of Trump, though China’s top diplomat, State Councillor Yang Jiechi, who last month met a senior advisor to Trump, also attended the Xi-Biden meeting, the foreign ministry said.
Trump, who takes office on Friday, has rattled Beijing with threats to impose tariffs on Chinese imports and by questioning the United States’ commitment to the “one China” policy, under which Washington acknowledges China’s position that Taiwan is part of its territory.
Chinese President Xi Jinping offered a vigorous defence of globalisation on Tuesday, pushing back against the “America First” rhetoric of incoming US president Donald Trump and signalling Beijing’s desire to play a bigger role on the global stage.
Xi’s speech to political leaders, CEOs and bankers at the World Economic Forum in Davos was a first by a Chinese leader and marked a possible shift in the global political landscape as western democracies struggle with the rise of populist nationalism.
China, a one-party communist state that maintains tough restrictions on foreign investment, would seem an unlikely champion of free markets at an event that has become synonymous with global capitalism.
But with Trump promising a more protectionist, insular approach and Europe preoccupied with its own problems, from Brexit to terror attacks, China sees an opportunity to fill what could become a vacuum in global economic leadership.
Speaking before a vast audience that included US Vice President Joe Biden, Xi likened protectionism to “locking oneself in a dark room” and cutting off all “light and air”.
“No one will emerge as a winner in a trade war,” Xi said in the nearly hour-long speech.
Real estate mogul and former reality TV star Trump, who will be inaugurated as U.S. president on Friday, campaigned on a promise to confront China more aggressively on trade and renegotiate or ditch multilateral trade agreements.
His entourage has accused China of waging economic war against the United States.
But Xi pushed back against the accusations of unfair trade practices, saying Beijing would not devlaue its currency for competitive advantage, as Trump has repeatedly accused it of doing in the past.
Xi also urged all signatories of a landmark climate deal agreed in Paris roughly one year ago to stick to the agreement, a clear message to Trump, who has criticised the deal and indicated he may pull the United States out of it.

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