Jinping: Globalisation not to blame for world's problems

The Chinese president also says the global financial crisis is not the inevitable outcome of globalisation.

FILE: Chinese President Xi Jinping. Picture: AFP.

SWITZERLAND – Chinese President Xi Jinping has told the World Economic Forum (WEF) that globalisation is not responsible for the world’s problems.

The Chinese president also says the global financial crisis is not the inevitable outcome of globalisation, but rather the result of people seeking excessive profits.

He says many people used to see globalisation as Ali Baba's treasure, and now see it as Pandora's Box.

Speaking through a translator, he's delivered what appears to be a robust defense of globalisation.

“There is no point in blaming economic globalisation for the world’s problems, as that is simply not the case and it will not help solve the problems.”

These comments could be seen as a response to US President-elect Donald Trump, who has attacked globalisation saying that it has ‘stolen’ American jobs.

For more news, analysis and insights on Davos 2017 go to EWN’s WEF portal in partnership with Ashburton Investments.