Xi Jinping has launched an attack on a "law of the jungle" approach to trade, a comment that will be seen as a marginal note to Donald Trump prior to a G20 summit this month, where the two will discuss their tariff reconciliation.
The tough rhetoric of the Chinese president to open an international business fair in Shanghai can express the hope that the G20 summit in Argentina could bring a deal to end the dispute between the US and China, that the two countries are charging rates for billions of dollars in bilateral trade and rattles. Asian markets.
Mr. Trump hoped for an agreement last week when he promised a "very good" telephone conversation with Mr. Xi that put a "big emphasis" on the trade. But the Chinese leader did not show any signs of a trade throw, with the aim of unilateralism – a clear reference to recent hardline actions by the White House.
"As globalization deepens, the practices of" law of the jungle "and" winner-take-all "are a narrow path that leads to a dead end path," Xi said. during the opening ceremony of the China International Import Expo. "Inclusion and reciprocity, win-win and mutual benefits is the broadening and correct path."
Asian markets renewed their sale on Monday, with Hong Kong's Hang Seng index closing 2.1 percent and Chinese CSI 300's large share in Shanghai and Shenzhen declining 0.8 percent.
Mr. Xi has repeatedly tried to put himself forward as a champion of multilateral agreements and to reduce trade barriers, repeated commitments he made at the Bo & # 39; ao Forum in April and the World Economic Forum in Davos in January 2017, that he would move to the Chinese economy for foreign investors.