Nectar Gan
Chinese leader Xi Jinping says “bullying” and “hegemonism” will only backfire, in a veiled reference to the United States just a day after a temporary truce was agreed in the trade war between the world’s two largest economies.
Xi chose to deliver this message, which paints China as a global leader and defender of free trade, at a summit of Latin American and Caribbean officials — including the presidents of Brazil, Colombia and Chile — in Beijing on Tuesday. The region has become increasingly caught in the middle of a tussle for influence between the US and China.
“There are no winners in tariff wars or trade wars. Bullying or hegemonism only leads to self-isolation,” Xi said, reiterating a warning he has made throughout the trade showdown with US President Donald Trump.
Great changes unseen in a century are accelerating, which have “made unity and cooperation among nations indispensable,” he added.
Xi’s speech comes a day after the US and China announced they would drastically roll back tariffs on each other’s goods for an initial 90-day period, in a surprise breakthrough that has de-escalated a punishing trade war and buoyed global markets.
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