Chinese President Xi Jinping
Fortune: China Says It Will Lead the World Economy If Western Nations Stand Down
A top Chinese diplomat has said that China is ready to lead the world economy if other nations should retreat from globalization.
Zhang Jun, the Chinese foreign ministry's head of international economic affairs, told foreign reporters in Beijing that "if it’s necessary for China to play the role of leader, then China must take on this responsibility," reports the Wall Street Journal.
Zhang's comments come just days after President Donald Trump pledged to put "America first" in his inaugural address, which followed Chinese President Xi Jinping's plea for the continuation of global trade at last week's World Economic Forum in Davos, Switzerland.
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WNU Editor: China's business model .... export driven while keeping its own domestic markets protected .... makes it very unlikely that they will be the leader of the world economy. As for TPP .... its impact and importance has decreased significantly for some who signed onto it expecting easier access to U.S. markets. That is now not going to happen .... so expect bilateral arrangements and agreements to be the focus during the Trump Presidency.
More News On Chinese Claims They Will Lead The World Economy If Other Nations Retreat From Globalisation
China: We can lead world beyond 'crisis' of Western democracy and capitalism -- CNBC
China ready to shoulder global leadership burden if others back out – senior Chinese diplomat -- RT
China Eager to Fill Political Vacuum Created by Trump’s TPP Withdrawal -- Bloomberg
After U.S. exit, Asian nations try to save TPP trade deal -- Reuters
Australia, New Zealand Look to China to Salvage TPP Deal After Donald Trump Withdraws US -- Newsweek
Trump's Gift to China -- Michael Schuman, Bloomberg
1 comment:
The Us model has been the exact opposite. Import driven while leaving the domestic markets unprotected and this somehow means the US is going to "lead." How can one "lead" anything if they can't or won't even protect their domestic market? With that said I'm not sure China is going to "lead" either.
Surely they had to know that the current business model based upon the current trade relations with America was not sustainable for America and had to end someday with "someday" coming when the Americans either realized the agreements had to be renegotiated or America was sucked dry. Since they had to know this, they have to be ready to negotiate in good faith with the Americans and they had to have been preparing for the day when this occurred. Surely right?
There are some things people know but they don't want to know therefore they don't now. Perhaps this is China's case. While it would be most helpful, to have Chinese assistance and cooperation with the renegotiation process, it isn't necessary. If they didn't know that business as usual was eventually going to have to change, well they really don't deserve much sympathy. As for Americans, we expect no sympathy from anyone.
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