Xi Jinping Praises China’s “Openness” in Trade at APEC Summit | International

Chinese President Xi Jinping said this Thursday during the Asia-Pacific Economic Cooperation (APEC) Forum that China will seek “openness” in trade and issued a warning against protectionism.

Encouraged by the signing, this weekend, of the world’s largest trade agreement, promoted by his country, Xi declared that Asia and the Pacific is “at the forefront of growth” in a world hit by “multiple challenges”, such as the pandemic of covid-19.

During a speech broadcast by video from Beijing on the occasion of the opening of the APEC summit, hosted by Malaysia, Xi Jinping also noted that China will seek economic “opening”.

“Openness allows a country to move forward while isolation slows it down,” declared Xi Jinping, adding that “no country will develop if it keeps its doors closed.”

Likewise, denounced any idea of ​​economic “disassociation” with the United States, a term used by the administration of US President Donald Trump, that imposed retaliatory tariffs on China and restrictions on its technologies.

This “decoupling” supposedly will drastically reduce the dependence of the US economy on China.

This year, the APEC summit is held online because of the coronavirus and brings together 21 economies from the Pacific basin, including the two largest economies in the world – the United States and China – which account for 60% of the total of the World GDP.

It was not certain that Donald Trump, who persists in not recognizing the victory of Democrat Joe Biden in the presidential election on November 3, will participate in the summit or if the United States will entrust the task to another representative.

“I want to remember that China’s commitment to openness is strong […] and that will open its doors even more to the world ”,
subrayó Xi Jinping.

The APEC summit comes a week after the signing of the world’s largest free trade agreement between China and 14 other countries in Asia and the Pacific.

Beijing considers this Regional Comprehensive Economic Partnership (RCEP), which includes neither the United States nor India, a true victory.

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