China wants to embrace the world, not take it over, Xi says at Boao Forum for Asia
Chinese leader makes slew of promises, but some observers are getting weary of words rather than actions
China’s President Xi Jinping’s strong message delivered at the Boao Forum for Asia was intended to ease tensions in the tit-for-tat trade dispute with the US, and assuage concerns of the world at large about China’s economic diplomacy and rising assertiveness, analysts said.
Washington was the main target for Xi’s remarks at the annual economic summit in south China’s Hainan province, as he vowed to further open up and liberalise the nation’s economy.
“China’s opening up will definitely enter a whole new phase,” Xi told the audience of key leaders, including Philippines President Rodrigo Duterte and the managing director of the International Monetary Fund Christine Lagarde.
“I want to clearly tell everyone that China’s open door will not be closed, it will only be opened wider,” he said in his first public speech since he set himself up as the country’s new paramount leader after successfully scrapping presidential term limits last month.
His slew of commitments on market reform and liberalisation – including greater intellectual property protection, easier market access, and lower tariffs in key sectors such as car making – come as the spectre of a Sino-US trade war looms large, with the world’s two largest economies exchanging tariff threats and rhetorical barbs. Last week, fears escalated after US President Donald Trump threatened to impose tariffs on a total of US$150 billion worth of Chinese hi-tech products.
