Ceos Bankers: Chinese Leader and Democracies Struggle

ceos bankers: China, a one-party communist state that maintains tough restrictions on foreign investment, would seem an unlikely champion of free markets at an event that has become synonymous with global capitalism, according to The Japan Times. But with Trump promising a more protectionist, insular approach and Europe preoccupied with its own problems, from Brexit to terrorist attacks, China sees an opportunity to fill what could become a vacuum in global economic leadership. Xi's speech to political leaders, CEOs and bankers at the World Economic Forum in Davos, Switzerland, was the first by a Chinese leader and marked a possible shift in the global political landscape as Western democracies struggle with the rise of populist nationalism. Speaking before a vast audience that included U.S. Vice President Joe Biden, Xi likened protectionism to locking oneself in a dark room and cutting off all light and air. Real estate mogul and former reality TV star Trump, who will be inaugurated as president on Friday, campaigned on a promise to confront China more aggressively on trade and renegotiate or ditch multilateral trade agreements. No one will emerge as a winner in a trade war, Xi said in the nearly hourlong speech. (news.financializer.com). As reported in the news.