China’s Xi warns against “Cold War mentality”

Apr 10, 2018, 7:52 AM EDT
Chinese President Xi Jinping vowed to open up country's economy.
(Source: Foreign and Commonwealth Office/flickr)

Addressing the Boao Forum for Asia, China’s President Xi Jinping vowed to liberalize the country’s economy, warning that there is no space for “Cold War mentality” and “zero-sum game” in a progressing world.

Xi’s remarks about opening up China’s economy, slashing import tariffs and relaxing norms for foreign firms come amid a protracted trade standoff with the U.S., with both sides slapping a series of tit-for-tat tariffs on each other, reports the BBC.

China faces a “credibility gap” for its centralized control over businesses, market access barriers and bias for local firms despite its longtime promises of opening up the economy, notes Bloomberg.

YOU MIGHT ALSO LIKE