“
No one will emerge as a winner in a trade war,” the Chinese president declared, in a none-too-subtle dig at his incoming American counterpart. Three days later in Washington, Trump delivered a shockingly combative inaugural address, condemning “other countries making our products, stealing our companies and destroying our jobs.” Rather than embracing trade, Trump declared that “protection will lead to great prosperity and strength.” Xi’s speech was the sort of claptrap that global leaders were supposed to say when addressing business tycoons. The media fawned over his supposed defense of economic openness and globalization against populist shocks like Trump and Brexit. “Xi sounding rather more presidential than US president-elect,” tweeted talking-head Ian Bremmer. “Xi Jinping Delivers a Robust Defence of Globalisation,” reported the lead headline in the Financial Times. “World Leaders Find Hope for Globalization in Davos Amid Populist Revolt,” the Washington Post declared. “The international community is looking to China,” explained Klaus Schwab, the chair of the World Economic Forum.
”
”