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You can find the current article at its original source at https://www.theguardian.com/world/2018/dec/18/xi-jinping-says-china-is-builder-of-peace-as-he-tries-to-shore-up-confidence
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| Xi Jinping: president warns other nations not to 'dictate' to China | Xi Jinping: president warns other nations not to 'dictate' to China |
| (35 minutes later) | |
| Chinese president Xi Jinping has attempted to shore up confidence in his leadership and the country’s slowing economy with a strongly worded speech warning other nations not to “dictate to” Beijing. | Chinese president Xi Jinping has attempted to shore up confidence in his leadership and the country’s slowing economy with a strongly worded speech warning other nations not to “dictate to” Beijing. |
| “No one is in a position to dictate to the Chinese people what should or should not be done,” Xi said. “We must resolutely reform what should and can be changed, we must resolutely not reform what shouldn’t and can’t be changed.” | “No one is in a position to dictate to the Chinese people what should or should not be done,” Xi said. “We must resolutely reform what should and can be changed, we must resolutely not reform what shouldn’t and can’t be changed.” |
| IMF warns storm clouds are gathering for next financial crisis | IMF warns storm clouds are gathering for next financial crisis |
| Xi’s speech comes as the Chinese leadership is facing criticism over slowing growth and confrontation with the US. Observers hoped his speech would lay out new directions or reforms needed to help the Chinese economy, weighed down by debt and lagging consumption, and an overly dominant state sector. | Xi’s speech comes as the Chinese leadership is facing criticism over slowing growth and confrontation with the US. Observers hoped his speech would lay out new directions or reforms needed to help the Chinese economy, weighed down by debt and lagging consumption, and an overly dominant state sector. |
| Instead, Xi stressed that the Party’s leadership and strategy up to now have been “absolutely correct.” He promised to support the state sector while continuing reforms in appropriate areas. | Instead, Xi stressed that the Party’s leadership and strategy up to now have been “absolutely correct.” He promised to support the state sector while continuing reforms in appropriate areas. |
| His remarks lacked any detail about new policies and failed to inspire confidence in Asian markets. Hong Kong and Shanghai both dropped sharply during the speech. They are now off 1% for the day while losses have deepened to 1.8% in Tokyo and more than 1% in Sydney. | His remarks lacked any detail about new policies and failed to inspire confidence in Asian markets. Hong Kong and Shanghai both dropped sharply during the speech. They are now off 1% for the day while losses have deepened to 1.8% in Tokyo and more than 1% in Sydney. |
| “President Xi was perhaps unsurprisingly long on rhetoric and short on details,” said Tom Rafferty, regional manager for China at the Economist Intelligence Unit. | |
| “There will be a sense of disappointment, among both local and international investors, that Xi did not give clearer signals about the direction of future economic reform at a time when the Chinese government’s commitment to market liberalisation is seen to have waned.” | “There will be a sense of disappointment, among both local and international investors, that Xi did not give clearer signals about the direction of future economic reform at a time when the Chinese government’s commitment to market liberalisation is seen to have waned.” |
| Critics say politics are getting in the way of needed reforms – a rare challenge to Xi, who has amassed power more quickly than any of his predecessors. | Critics say politics are getting in the way of needed reforms – a rare challenge to Xi, who has amassed power more quickly than any of his predecessors. |
| Xi has been criticised for increasing the state sector’s control over the economy as private companies have had more difficulty accessing credit. Economic growth underpinned by infrastructure projects has also slowed. | Xi has been criticised for increasing the state sector’s control over the economy as private companies have had more difficulty accessing credit. Economic growth underpinned by infrastructure projects has also slowed. |
| “As things look bad there has been a lot more debate recently about what economic policy should be, but it’s a lot less debate and more criticism,” said Trey McCarver, cofounder of the consultancy Trivium. | “As things look bad there has been a lot more debate recently about what economic policy should be, but it’s a lot less debate and more criticism,” said Trey McCarver, cofounder of the consultancy Trivium. |
| Xiang Songzuo, an economist at Renmin University in Beijing said at a forum at the weekend that problems for private businesses in China go beyond access to financing. “What is the fundamental problem? Fear of policy uncertainty, fear that the government is not trustworthy,” he said. | Xiang Songzuo, an economist at Renmin University in Beijing said at a forum at the weekend that problems for private businesses in China go beyond access to financing. “What is the fundamental problem? Fear of policy uncertainty, fear that the government is not trustworthy,” he said. |
| Other critics say Xi’s assertive industrial and foreign policies have provoked confrontation with the US unnecessarily and overturned a decades-long policy of keeping a low profile on the international stage. | Other critics say Xi’s assertive industrial and foreign policies have provoked confrontation with the US unnecessarily and overturned a decades-long policy of keeping a low profile on the international stage. |
| Xi’s signature foreign policy has been the Belt and Road project, a massive investment drive to connect Asia, Europe, the Middle East, and Africa by land and sea. At home, the government has pushed an industrial plan to upgrade Chinese manufacturing called Made in China 2025, which forms a key part of US complaints about Chinese intellectual property theft. | Xi’s signature foreign policy has been the Belt and Road project, a massive investment drive to connect Asia, Europe, the Middle East, and Africa by land and sea. At home, the government has pushed an industrial plan to upgrade Chinese manufacturing called Made in China 2025, which forms a key part of US complaints about Chinese intellectual property theft. |
| Xi said China would “never seek global hegemony.” Speaking on Tuesday from Beijing’s Great Hall of the People on the anniversary of the reform and opening of the Chinese economy, he said: “China is approaching the centre of the world stage and has become a recognised builder of world peace, a contributor to global development, and a defender of the international order.” | Xi said China would “never seek global hegemony.” Speaking on Tuesday from Beijing’s Great Hall of the People on the anniversary of the reform and opening of the Chinese economy, he said: “China is approaching the centre of the world stage and has become a recognised builder of world peace, a contributor to global development, and a defender of the international order.” |
| Xi gave his hour-and-a-half-long speech from behind a seat in contrast to previous remarks given at the Great Hall, delivered from a lectern. | Xi gave his hour-and-a-half-long speech from behind a seat in contrast to previous remarks given at the Great Hall, delivered from a lectern. |
| He made several references to “all ethnic groups” coming together behind the party, remarks that appear to be a response to international criticism response of China’s policies in the far western region of Xinjiang where as many as one million Muslim minorities, many of them Uighurs, are being kept in detention camps. | He made several references to “all ethnic groups” coming together behind the party, remarks that appear to be a response to international criticism response of China’s policies in the far western region of Xinjiang where as many as one million Muslim minorities, many of them Uighurs, are being kept in detention camps. |
| Xi reiterated the party’s complete control over the country. “Whether it’s the party, the government, the army, ordinary people or students, the east, the west, the south, the north or the middle, the party leads everything,” he said. | Xi reiterated the party’s complete control over the country. “Whether it’s the party, the government, the army, ordinary people or students, the east, the west, the south, the north or the middle, the party leads everything,” he said. |
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