Xi Jinping says trade war pushes China to rely on itself and ‘that’s not a bad thing’
Factory workers and farmers in China’s rust belt first to hear how the country will respond to rising protectionism
Chinese President Xi Jinping says rising “unilateralism and protectionism” is forcing China to rely more on itself for development and “it’s not a bad thing”, reflecting a determination to fight a protracted trade war with the US if necessary.
Xi, the most powerful Chinese leader in decades, said it was time for China to cut its dependence on foreign technologies and others in his first clear statement on how China would cope with the trade war.
Speaking from one of China’s biggest state-owned factories, Xi emphasised the value of self-reliance, according to People’s Daily, the mouthpiece of the ruling Communist Party.
“Internationally, it’s becoming more and more difficult [for China] to obtain advanced technologies and key know-how. Unilateralism and trade protectionism are rising, forcing us to adopt a self-reliant approach. This is not a bad thing,” Xi said.
“Rising protectionism” is a euphemistic reference to the tariff conflict between Beijing and Washington.
“Ultimately, China depends on itself” for development, Xi said.
Xi’s comments came two days after Washington escalated the trade war by imposing tariffs on another US$200 billion of Chinese imports and China retaliated by covering US$60 billion US products with tariffs.
Trade talks originally scheduled for this week were called off as Beijing refused to talk when the US “is putting a knife to its throat”.