He vows to keep the economy open, slams protectionismPresident Xi Jinping hailed China as the pivot point for global free trade on Thursday, vowing to keep its “super-sized” economy open for business and warning against protectionism as the world battles the COVID-19 pandemic. Mr. Xi was speaking at the Asia-Pacific Economic Cooperation (APEC) forum, held online this year because of the pandemic, which brings together 21 Pacific Rim countries, accounting for about 60% of global GDP. In a speech that veered into triumphalism over China’s economic “resilience and vitality” in bouncing back from the virus, which first emerged in the central city of Wuhan, Mr. Xi warned countries who insist on trade barriers would suffer self-inflicted wounds. “China will actively cooperate with all countries, regions and enterprises that want to do so. Australian exports of beef, wine and barley to China — their biggest market – have been restricted.

Source: The Hindu November 19, 2020 15:50 UTC