Chinese Leader: Swearing-in Ceremony and Walls Unilateralism

chinese leader: This year's Davos confab overlaps with the Jan. 20 swearing-in ceremony of Donald Trump, who made withdrawal from global elites a hallmark of his presidential campaign, according to The Japan Times. Trump's America first tariffs, walls and unilateralism would seem to make China de facto champion of globalization. The most interesting thing about Xi being the first Chinese leader to join the World Economic Forum is geopolitical timing. Xi's Davos jaunt will punctuate that point, one presaged in currency markets in the closing days of 2016. The change signaled two things. Quietly, but importantly, Beijing downgraded the dollar's role in its trade-weighted foreign exchange basket by four percentage points to 22.4 percent, while boosting the role of the South Korean won and Singapore dollar. (news.financializer.com). As reported in the news.