SCMP: Xi Jinping says trade war pushes China to rely on itself and ‘that’s not a bad thing’
Factory workers and farmers in China’s rust belt first to hear how the country will respond to rising protectionism.
Chinese President Xi Jinping says rising “unilateralism and protectionism” is forcing China to rely more on itself for development and “it’s not a bad thing”, reflecting a determination to fight a protracted trade war with the US if necessary.
Xi, the most powerful Chinese leader in decades, said it was time for China to cut its dependence on foreign technologies and others in his first clear statement on how China would cope with the trade war.
Speaking from one of China’s biggest state-owned factories, Xi emphasised the value of self-reliance, according to People’s Daily, the mouthpiece of the ruling Communist Party.
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WNU Editor: Chinese President Xi is trying to paint an optimistic picture. But bottom line .... the competitive advantages that China has had in pushing its exports are now coming to an end, and the economic growth that China has known in the past two decades is coming to an end.
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