Upload
others
View
20
Download
0
Embed Size (px)
Citation preview
17 1 20 3:41Davos marks the emergence of a confident strong China - Jan. 15 2017
1 4 http: money.cnn.com 2017 01 15 news china-xi-jinping-davos index.html
Davos
Davos marks the emergence of a confident,strong Chinaby Charles Riley @CRrileyCNN
January 15, 2017: 6:45 AM ET
Davos has a new star.
Xi Jinping is set to become the first Chinese president to attend the World Economic Forum'sannual gathering high in the mountains of Switzerland.
It's a visit rich in symbolism: Beijing is positioning itself as a global leader at a time when Westernpowers, and especially the United States, are retreating from the world stage.
The Davos meeting coincides with the formal handover of power in the U.S. Donald Trump will beinaugurated as president on Jan. 20, the final day of the forum.
Into this breach steps Xi, who has an iron grip on the levers of power in Beijing. Under hisleadership, China has adopted a more muscular foreign policy, and sought to expand itsinfluence through trade initiatives.
Related: The world is becoming a very scary place
China's political heavyweights avoided Davos in 2016. One of the few oZcials who went,financial regulator Fang Xinghai, spent much of his time defending Beijing's botched response toa stock market crash.
.
Advertisement
Massive Pittsburgharea mall sold for$100
World's largesteconomies
Obamacare's impacton this Alaska townwith only one doctor'soZce
Social Surge - What's Trending
Recommend 3.9K
Jack Ma: President Trump must work with China
U.S. ++ Business Markets Tech Media Personal Finance Small Biz Luxury stock tickers
17 1 20 3:41Davos marks the emergence of a confident strong China - Jan. 15 2017
2 4 http: money.cnn.com 2017 01 15 news china-xi-jinping-davos index.html
What a di]erence a year makes. In June, Britain voted itself out of the European Union. ThenHillary Clinton lost the U.S. presidential election to Trump, a political neophyte who hasquestioned many of the key principles that have underpinned the world order for decades.
"President Xi's appearance in Davos is indicative of China's desire to signal that it is ready forconstructive engagement in global governance and to take on a leadership role consistent withits economic might," said Eswar Prasad, the former head of the International Monetary Fund'sChina division.
Related: Brexit: 18 months that will shape the U.K.'s future
During the election campaign, Trump blasted international trade deals, tapping into a deep wellof popular anger over globalization. Now, the president-elect could try to kill the huge U.S.-ledPacific trade agreement that he has described as a "disaster done and pushed by specialinterests who want to rape our country."
China isn't waiting around for the funeral. It's already pushing its own free trade deal with leadersfrom around the Pacific. Its competing initiative -- the Regional Comprehensive EconomicPartnership -- covers 16 nations, accounting for almost 30% of global GDP and more than aquarter of world trade.
Frustrated by a relative lack of influence at the World Bank (a U.S.-based institution) and theAsian Development Bank (where Japan is a major force), Beijing has also spent billions of dollarsto establish a new infrastructure bank.
"As countries around the world take stock of what a Trump presidency could mean for theirrelations with the U.S., China is seeking to position itself as a mature, trustworthy power that isopen to closer bilateral relations and also to a broader leadership role in the internationalcommunity," said Prasad, who is now a professor at Cornell University.
Related: China is ready to pounce if Trump axes Pacific trade deal
The power players gathering in Davos will be trying to make sense of these changes -- and howto respond. Indeed, the theme of this year's meeting is "Responsive and ResponsibleLeadership."
Terms & Conditions applyNMLS #1136
Mortgage Personal Loans Credit Cards
Loan Type Rate APR
30-yr fixed 3.88% 3.92%
15-yr fixed 3.13% 3.20%
5/1 ARM 2.75% 3.74%
Loan Purpose Loan Amount Payment
Refinance 5/1
ARM$225,000 $919/mo
Purchase 5/1
ARM$350,000 $1,453/mo
Get Personalized Rates
Paid Content
Su]ering from LowerBack Pain? What toKnowYahoo Search
The World's BiggestMysteries ScientistsStill Can't Solvedeposts.com
2 Jaw-Dropping TravelCards O]eringOutrageous PerksCredit Cards
9 Things You Didn'tKnow About CruisingNorwegian Cruise Line
by Outbrain
Hot List
China still dumpingU.S. debt -- and so isJapan. But Russia is…
United thinsmanagement ranks,top exec departs
Kalashnikov USAselling first American-made guns nextmonth
Joe Biden says Russiawill target European
Powered by LendingTreeMortgage & Savings
17 1 20 3:41Davos marks the emergence of a confident strong China - Jan. 15 2017
3 4 http: money.cnn.com 2017 01 15 news china-xi-jinping-davos index.html
Paid Links
1. #1 REVERSE MORTGAGE CALCULATOR
2. LIFE INSURANCE FOR SENIORS
3. FIXED INCOME FUNDS
4. BEST PERFORMING MUTUAL FUNDS
5. HIGH INTEREST SAVINGS ACCOUNTS
6. TOP RATED MEDICARE PLANS
7. BUSINESS VOIP SERVICES
8. SMALL BUSINESS LOANS
But with European standard bearer Germany sitting out the conference (Chancellor AngelaMerkel faces tricky elections later this year), and the U.S. focused squarely on Trump, that handsChina an opportunity to pick up the mantle of leadership.
"China is positioning itself to fill in any void left by the U.S. in terms of global leadership," saidPrasad.
-- Jethro Mullen contributed reporting.
CNNMoney (London)First published January 15, 2017: 6:45 AM ET
Paid Content
These are the Best Luxury Cars onthe MarketYahoo Search
Crowdfunding is Making RealEstate Investing EasyRealtyShares
How To Fix Your Fatigue (Do ThisEvery Day)EnergyAtAnyAge.com
A Jaw-Dropping 40,000 PointBonus Has Hit The MarketCredit Cards
Thinking About Going Solar In2017? Read This FirstHome Solar Programs
Why You Should Rejoice About theAmazon of WinePopdust
Recommended by
Paid Content More from CNN Money
Recommended by
We Tried Blue Apron: Here's What Happened BlueApron
If You're a Homeowner, Congress Urges You ClaimTheir $4,250 Rebate by Jan 31st TheDollarDaily
The Absolute Best Sheets You Will Ever Find. Period.Brooklinen
Use Data To Sell Your Home For More Homelight
Chinese province admits falsifying economic data foryears
Why so many people hate Obamacare
Boeing snags new $11 billion order from India'sSpiceJet
Trump uses Boeing Super Hornets to sting Lockheed
$700 Gold By Late 2017(Dent Research)
Before Applying For ACredit Card, Check If You Pre-Qualify(Citi)
“Options Made Easy” willchange how you invest yourmoney [download](TradeWins)
Expert predicts exact dateAmerica will fall.(Money and Markets)
What's this?
Transferring your balance to an 18-month 0% APR is ingenious
elections in 2017
Massive Pittsburgharea mall sold for $100
Most Popular Videos by Outbrain
A Gentleman's Guideto cocktails
Matt Damon ripsTrump and bankers inMIT speech
Huge 404 caratdiamond discovered
Car sales: The partymay be over
CNNMoney Sponsors
Paid PartnerPartner OPers
Paid PartnerNextAdvisor