Wednesday, January 18, 2017

Xi Jinping makes case for globalization (China) / Anton #1

http://www.foxnews.com/world/2017/01/18/chinas-president-makes-case-for-globalization-in-davos-speech.html

I know, it's Fox news, but don't get worked up. Xi defended globalization in a speech in Switzerland on the 17th, contrasting the protectionist outlook of Trump. He said that globalization is only an economic benefit. "Protectionism, is like shutting oneself in a dark room. You keep the wind and rain, but also the light and air." Chinese growth has been the engine for global development he said. Xi used the term win-win several times. Xi announced China would invest 750 billion over the next 5 years, the US would usually drool over this but recently questions have been raised about security and per-say Chinese internet restrictions.

This is unsurprising as China needs foreign investment and interaction to keep growing its hungry economy. It is interesting how Trump will continue with his protectionist views towards a globalist China.

This is opposite to many recent developments in EU and the US which have announced more nationalistic approaches to diplomacy.

1 comment:

  1. Globalization is kinda critical for any economy since trade is a big part of the GDP so becoming isolated. Having friendly relations with other nations is key for smaller countries that can't be independent on its natural resources. Foreign interaction also can help with technology progression. Also having support from other countries during dangerous times can also help save other country. So Trump trying to go back to isolationism is just a stupid idea because foreign investment that helps run this nation would stop almost completely.

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