China's President Xi Jinping Defends Globalisation, Warns Against Trade War

An unlikely defender of globalisation takes the spotlight in Davos, with China's President Xi Jinping signalling that China is willing to take the lead in protecting the world from Donald Trump's protectionism and the consequences of the Brexit. 

"No one will emerge as a winner in a trade war. Whether you like it or not the global economy is a big ocean you cannot escape from," the Chinese president said in a direct message to Donald Trump without explicitly naming him. This is the first time a Chinese leader has attended the gathering of business and political elites in the Swiss Alps, and the address was a chance for China to cement its clout in a new world order. But how far will the Chinese president go to fill the gap left by Trump? 

"China will open our arms to the people of the world and take them on the express train of development," stated Xi Jinping in a well received lengthy speech steeped in metaphors and symbolism. 

Ian Bremmer, president and founder of Eurasia, told NDTV, "China cannot replace the US in military and geopolitical leadership. It can only do so in economic leadership. Americanisation is dead but globalisation is not - Xi is trying to frame a new definition." 

For India, China's ascendancy into global leadership comes at a time when the IMF and others have lowered our economic growth below China's because of the demonetisation shock, and when China is using its influence against India in multilateral platforms from refusing to ban terrorist Masood Azhar at the United Nations to stopping our attempts at joining the NSG. 

In New Delhi, Prime Minister Narendra Modi acknowledged India and China have an "unprecedented opportunity" but added that it is not "unnatural to have some differences and both countries need to show sensitivity and respect for each other's core concerns and interests."