Singapore’s primary Chinese language newspaper Lianhe Zaobao recently reported that Chinese leader Xi Jinping delivered a written speech at the Asia Pacific Economic Cooperation (APEC) Business Leaders Summit held in Lima, Peru, proposing a “Chinese Solution” to deal with the impact of the coming Trump administration.
Facing the potential deglobalization that may result from protectionist U.S. policies under President-elect Donald Trump, Xi extolled globalization and criticized policies such as tariffs, which he said would “hinder economic cooperation” and “divide the world,” “turning back the clock on history.” Xi stated that the APEC forum has contributed to promoting globalization, encouraging economic growth and improving people’s well-being over the years. He expressed hopes that the Asia-Pacific region would continue to be “the locomotive for the promotion of economic globalization.”
Analysts suggest that Xi Jinping’s speech reflects China’s obvious concerns over imminent changes in the structure of the global economy following Trump’s inauguration, scheduled for January of 2025. Xi’s proposed “Chinese Solution” represents a return to the trend of globalization seen during the several decades prior to the COVID pandemic.
Source: Lianhe Zaobao, November 16, 2024
https://www.zaobao.com.sg/news/china/story20241116-5355930