Source: nflnewsdesk.com
More than any other nation, China has benefited from the Pax Americana - the system of free trade, secure waterways and globalized financial markets built by the United States and its allies after World War II.
Liberals suddenly turned starry-eyed over China's oppressive president Xi Jinping after he gave a speech at a gathering of the 1% in Davos.
On the eve of the annual meeting of the world's political, financial, and business elites in Davos, Switzerland, this week, global anti-poverty organization Oxfam warned against the growing gap between the very rich and the poor of the world. If he were to get more specific here, he might say something along the lines of: "Yes, numerous world's economies lost millions of jobs to our manufacturing sector, but they've also benefited from our extremely cheap exports, as well as from selling their goods to our colossal consumer market".
DAVOS, Switzerland, Jan. 17 (Xinhua) - Chinese President Xi Jinping grabbed global elites in Davos on Tuesday with an unusually straightforward keynote address on global issues at the World Economic Forum.
"The pill is not the point", said Mr.Xi said China's rapid growth during the past few years has been the engine for sustained global development.
But, he admitted, it is a double-edged sword. "The pitfalls of economic globalization have been laid bare and we need to take these seriously".
Analyzing the root causes of the sluggish global economy and the problems for which globalization has been made the scapegoat, Xi pointed to a lack of robust driving forces for global growth, inadequate global economic governance, and uneven global development.
Xi also lauded innovation, free trade and world connectivity. "But this is no justification to write off economic globalization altogether". It said, given that "finding the right path to globalisation is the only rational option, the road map Xi has offered could be the wave of the future".
Xi called for efforts to rebalance economic globalization so that all people share in its benefits. Referring to the threat of protectionism, he predicted that "nobody will emerge as a victor in a trade war".
Reacting to Xi's speech, Klaus Schwab, the World Economic Forum's Founder and Executive Chairman, told participants that it is crucial that globalization leads to a fair, innovative, open and inclusive world. "We should not develop the habit of retreating to the harbour whenever encountering a storm". But, Xi reminded us that the world may be on the cusp of new technological changes from artificial intelligence to 3D printing and green technologies.
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