Daily Management Review

There Can Be A 'New Cold War' If Protectionism Policies Followed By US, Warns Xi Jinping


There Can Be A 'New Cold War' If Protectionism Policies Followed By US, Warns Xi Jinping
There will potentially be a new cold war if the newly elected United States president Joe Biden continues with the protectionist policies for the country as implemented by the former president Donald Trump, warned China’s president, Xi Jinping.
While calling for adopting a multilateral approach for resolving the economic crisis caused by Covid-19, in his address to the virtual World Economic Forum event Xi said that countries should not use the pandemic as an excuse to reverse the process of globalization and instead adopting polices of “decoupling and seclusion”.
Speaking publicly for the first time since Trump left the White House last week, no mention of either Biden or the United States was explicitly made by Xi. He however made it clear that China will not be dictated to by the US.
“To build small circles or start a new cold war, to reject, threaten or intimidate others, to wilfully impose decoupling, supply disruption or sanctions, and to create isolation or estrangement will only push the world into division and even confrontation” Xi said.
The alternative to multilateralism was the law of the jungle, said Xi as he repeated his call for pushing multilateralism as he had done four year ago when he had attended the WEF in Davos. He said that there must be “global action, global response and global cooperation.”
Since he won the US presidential elections, Biden has not given any indication of him softening of the US stance against China and he is set to announce a “buy American” procurement policy aimed at propping up the manufacturing industry of the US.
“We should build an open world economy, uphold the multilateral trading regime, discard discriminatory and exclusionary standards, rules and systems, and take down barriers to trade, investment and technological exchanges. State-to-state relations should be coordinated and regulated through proper institutions and rules. The strong should not bully the weak. Decisions should not be made by simply showing off strong muscles or waving a big fist,” Xi said.
Criticism of its human rights record primarily by the West will not sway China, Xi also made it clear. In recent times Beijing has been focused on cracking down on dissent in Hong Kong as well as its policies for the Uighur Muslims which has been called a “genocide” by Trump’s secretary of state, Mike Pompeo.
“No two leaves in the world are identical, and no histories, cultures or social systems are the same. Each country is unique with its own history, culture and social system, and none is superior to the other”, Xi said.
“Difference in itself is no cause for alarm. What does ring the alarm is arrogance, prejudice and hatred; it is the attempt to impose hierarchy on human civilisation or to force one’s own history, culture and social system upon others,” Xi said.