Xi expected to bring a steady voice to Davos

Fighting trade protectionism and anti-globalization, as well as boosting confidence in the Chinese economy, will be high on President Xi Jinping's agenda as he becomes the first top Chinese leader to attend and address the World Economic Forum annual meeting, observers say.

Xi will pay a state visit to Switzerland on Jan 15 to 18 and attend the forum's annual meeting in Davos on Jan 17 alongside corporate and political leaders, Foreign Ministry spokesman Lu Kang said on Jan 10.

The meeting was attended by Premier Li Keqiang in 2015 and by Vice-President Li Yuanchao last year.

Xi will deliver a keynote speech when attending the meeting, Vice-Foreign Minister Li Baodong told a news briefing in Beijing.

Xi's attendance has attracted great attention amid sluggish international trade and investment, the rise of protectionism and its impact upon the multilateral trade mechanism, the diplomat noted.

By participating in the meeting, the Chinese leader aims to explain China's views and positions, and to offer a useful response "to concerns of the international community about economic globalization", Li said.

China plans to analyze the deep-seated factors behind the problems of world economic growth and seek to find directions and pathways that point on the way out, Li added.

Widespread political reshuffling across the globe has dampened investor confidence and added uncertainty to the already sluggish growth of the world economy since the economic crisis in 2008.

World political and economic leaders also are anticipating Xi addressing the health of the world's second-largest economy in the wake of fluctuations in the yuan and Beijing's measures to rein in systematic financial risks, experts say.

The vice-foreign minister said that Xi, during the meeting, will respond to the world's focus on hotspot issues of Chinese economy and boost understanding of Chinese economic policy.

"China is ready to embark on in-depth discussions with various parties to jointly tackle major global challenges and promote the healthy, stable development of the world economy," Li said.

Ruan Zongze, vice-president of the China Institute of International Studies, says Xi's first trip to the Davos meeting is to address "the widespread lack of confidence over the prospects for the world economy and the lack of viable solutions".

Events last year, including the United Kingdom's vote to leave the European Union, "showcase the downward pressure of the global economy since the crisis in 2008", and "the gathering momentum against globalization and in favor of protectionism", Ruan says.

The world is expecting China to deliver a strong message against trade protectionism at the forum because the voices of smaller countries have not been enough of a counterbalance, Ruan adds.

The forum will also be attended by such figures as British Prime Minister Theresa May and US Vice-President Joe Biden.

Chen Fengying, a senior researcher on the world economy at China Institutes of Contemporary International Relations, says: "We should make it clear (at the forum) that the existing international economic cooperative mechanisms should not be changed because of the change in state leaders."

Since the world economy and globalization are "at a crossroad and a turning point", it is time for Xi to demonstrate China's power and duty as a major developing country, Chen says.

Xi's comments are also highly anticipated because China's annual central economic work conference recently wrapped up, Chen notes.

"China's economy is also at a crossroads. We could get either sustained growth or massive risks breaking out," Chen says.

Huang Yiping, a member of the central bank monetary policy committee and an economist at Peking University, says China's current priorities include eliminating systematic financial risks and stabilizing economic growth.

During his stay in Switzerland, Xi also will visit the offices of the World Health Organization, the United Nations' Geneva office and the International Olympic Committee.

At the Palais des Nations, home of the United Nations office, Xi will deliver a keynote speech about building the Community of Shared Destiny for Mankind.

zhangyunbi@chinadaily.com

(China Daily European Weekly 01/13/2017 page1)