DAVOS, Switzerland (REUTERS) - Chinese President Xi Jinping will defend globalisation in the face of mounting public hostility in the West on Tuesday (Jan 17) in a speech at the World Economic Forum (WEF) that will underline Beijing’s growing global role.
More than half a dozen senior Chinese government figures will be in Davos this week, far more than in past years. And a large number of sessions are focused on Asia, including one entitled "Asia Takes the Lead".
WEF founder Klaus Schwab said Mr Xi’s presence was a sign of the shift from a uni-polar world dominated by the United States, to a more multi-polar system in which rising powers like China will have to step up and play a bigger role.
"We can hope that China in this new world will assume a responsive and responsible leadership role," Mr Schwab told Reuters. "So in some ways it is very symbolic to have the president of China here."
Mr Xi’s appearance comes amid rising tensions between Beijing and president-elect Trump, who will be inaugurated on Friday, the final day of the Davos meeting.
Mr Xi is not expected to wade into the tit-for-tat with Mr Trump in Davos. Speaking in the Swiss capital Bern on the eve of his speech, he stressed the importance of cooperation.
"Protectionism, populism and de-globalisation are on the rise. It’s not good for closer economic cooperation globally,"he said.
China, the world’s top exporter, is heavily dependent on free trade and could be hit hard by a new wave of protectionism.
Fears of a hard economic landing in China roiled global markets during last year’s Davos.
And while those concerns have eased, the International Monetary Fund warned on Monday of ongoing risks to the economy, including its high reliance on government spending, record lending by state banks and an overheating property market.