China, France, and India are among the many nations defending globalization at the World Economic Forum, against a wave of protectionist sentiment. China is reiterating its commitment to opening markets, reform and global growth. It comes as the world waits for the US President's speech-- after he imposed tariffs on washing machines and solar imports this week. And as CGTN's Nathan King reports Trumps is considering more protectionist actions.
From France's President Emmanuel Macron, to India's Prime Minister Narendra Modi-leader after leader at the World Economic Forum, defending globalization, and calling for more not less. China's President Xi Jinping speech at Davos last year has been called a turning point. It was a robust defense of globalization. And China continues the message in 2018.
LIU HE CENTRAL LEADING GROUP FOR FINANCIAL & ECONOMIC AFFAIRS "After decades of development, a large-scale middle-income population has emerged in China, giving rise to a vast domestic market. We believe that this open domestic market with a fast-growing middle-income population of 400 million will contribute significantly to global development. The Belt and Road Initiative originated from China but it is an idea that will deliver opportunity and benefits to the whole world."
As the US President arrived at Davos, anticipation for his keynote speech Friday is growing. Will the world's biggest economy find itself isolated on global economic policy? On the eve of the trip, White House officials stressed that the policy of America first will benefit everyone.
GARY COHN WHITE HOUSE ECONOMIC ADVISOR "We're going to the World Economic Forum to share President Trump's economic story and to tell the world that America is open for business. We want the world to invest in America and to create jobs for hardworking Americans. President Trump's economic agenda has unleashed the US economy, and we are growing."
While a booming US economy is good for the world, many world leaders say trade barriers are not. And with new US actions expected soon on steel and aluminum the world is wary that the US is putting up trade barriers, while the rest of the world moves to pull them down.
GAO FENG SPOKESMAN, CHINESE MINISTRY OF COMMERCE "I would like to reiterate that cooperation is the only correct choice for both China and the US. China's door of cooperation and dialogue is always open. We hope that the China-US trade frictions won't get escalated.
NATHAN KING WASHINGTON "As the US raises tariffs, Pacific and Asian nations are lowering them. Eleven nations are set to sign a renamed Trans-Pacific partnership next month. It could have been 12 nations. Up until last year, the US-led those negotiations US President Trump pulled out of the agreement in his first few weeks in office. Nathan King, CGTN, Washington."