China's Xi uses Davos speech to warn world against new Cold War

Beijing

PRESIDENT Xi Jinping called on the world to abandon "ideological prejudice" and shun an "outdated Cold-War mentality" as he signalled that China will continue to forge its own path, regardless of western criticism.

He urged a return to mutual respect to help the recovery from the pandemic, saying that "confrontation will lead us to a dead end". It is vital to stay committed to international law and international rules "instead of staying committed to supremacy", he told the Davos Agenda event on Monday, in his first address since Joe Biden entered the White House.

"To build small circles and start a new Cold War, to reject, threaten or intimate others, to wilfully impose decoupling, supply disruptions or sanctions, or to create isolation or estrangement, will only push the world into division and even confrontation," he said.

His speech has been widely anticipated for the tone it sets for relations among the world's biggest economies over the next four years. It was more defensive in tone than his address to Davos four years ago, days before Donald Trump's inauguration. Mr Xi repeated many of the same talking points about multilateralism and "win-win" outcomes, but he also signalled that he does not intend to change course in the face of US pressure.

China's leaders have long embraced Davos as a forum to showcase economic reforms, while sidestepping difficult questions about politics. Former Premier Li Peng attended it in 1992 as China sought to attract foreign investors in the wake of the 1989 Tiananmen massacre.

Mr Xi signalled his desire to put aside political issues, which have driven a deterioration in ties with Western countries, including his abolition of term limits and use of "re-education" camps in the far western region of Xinjiang. BLOOMBERG