Xiplomacy: Xi advocates closer trade cooperation, opener world economy

BEIJING -- The China Council for the Promotion of International Trade marks its 70th anniversary this year, in a time when global economic and trade cooperation is more needed to address a once-in-a-century pandemic, a sluggish global recovery, a widening development gap and rising protectionism.

The council, founded in May 1952, is committed to developing China's trade ties with the rest of the world and promoting economic prosperity worldwide.

Well aware of the challenges, President Xi Jinping took the opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2022 held in late April as an opportunity to reiterate his call for global cooperation and solidarity to "break through the mist and embrace a bright future."

"We should stay committed to building an open world economy, stay on top of the dominant trend of economic globalization, increase macro policy coordination, turn to science and technology for more growth drivers, keep global industrial and supply chains stable, and prevent serious negative spillovers from policy adjustments in some countries, all in an effort to promote balanced, coordinated and inclusive global development," he said.

Over the past years, Xi has attached great importance to economic and trade cooperation between China and other countries, and has on various occasions pushed for building an open world economy. The following are some highlights of his remarks in this regard.

July 25, 2018

"The world is moving toward multi-polarity and greater economic globalization amid setbacks ... Unilateralism and protectionism are mounting, dealing a severe blow to multilateralism and the multilateral trading regime. The international community has reached a new crossroads; and we are facing a choice between cooperation and confrontation, between opening-up and a close-door policy, and between mutual benefit and a beggar-thy-neighbor approach," Xi said in his speech at the BRICS Business Forum in Johannesburg.

"We should pursue win-win cooperation to build an open economy. Openness and cooperation are the sure way to achieve progress in science and technology and growth of productivity. A trade war should be rejected, because there will be no winner. Economic hegemony is even more objectionable, as it will undermine the collective interests of the international community; those who pursue this course will only end up hurting themselves," he said.

June 28, 2019

Addressing the 14th Group of 20 summit, Xi said that "we must open up further to embrace opportunities of development and seek win-win outcomes through closer cooperation. We must work together to shape and steer economic globalization in the right direction."

"More will be done to open up the Chinese market wider," he said, adding that "greater efforts will be made to advance trade talks."

Sept 22, 2020

"COVID-19 reminds us that economic globalization is an indisputable reality and a historical trend. Burying one's head in the sand like an ostrich in the face of economic globalization or trying to fight it with Don Quixote's lance goes against the trend of history," Xi addressed the general debate of the 75th session of the United Nations General Assembly via video.

Xi called on countries worldwide to "pursue open and inclusive development, remain committed to building an open world economy, and uphold the multilateral trading regime with the World Trade Organization as the cornerstone."

"We should say no to unilateralism and protectionism, and work to ensure the stable and smooth functioning of global industrial and supply chains," he added.

Nov 4, 2021

At the opening ceremony of the fourth China International Import Expo, Xi stressed that "we must stay on top of the prevailing trend of economic globalization, and support countries around the world in opening up wider while rejecting unilateralism and protectionism. This is significantly important if we are to take humanity to a better future."

"As for China, we will not change our resolve to open wider at a high standard; we will not change our determination to share development opportunities with the rest of the world; and we will not change our commitment to an economic globalization that is more open, inclusive, balanced and beneficial for all," he said.

Jan 17, 2022

"Economic globalization is the trend of the times. Though countercurrents are sure to exist in a river, none could stop it from flowing to the sea. Driving forces bolster the river's momentum, and resistance may yet enhance its flow. Despite the countercurrents and dangerous shoals along the way, economic globalization has never and will not veer off course," said Xi in his special address to the 2022 World Economic Forum virtual session.

"Countries around the world should uphold true multilateralism. We should remove barriers, not erect walls. We should open up, not close off. We should seek integration, not decoupling. This is the way to build an open world economy," he said.