‘No one a winner’ in a trade war, says Chinese president Xi Jinping

Chinese president Xi Jinping offered a vigorous defence of free trade yesterday at the World Economic Forum in Davos in a speech that underscored Beijing’s desire to play a greater global role as the US turns inward.

In the first appearance by a Chinese leader at the annual meeting of political leaders, CEOs, and bankers in the Swiss Alps, Xi also cautioned other countries against blindly pursuing their national interests, in an apparent reference to the “America first” policies of Donald Trump.

Property mogul and ex-reality TV star Mr Trump, who will be inaugurated as US president on Friday, campaigned on a promise to confront China more aggressively on trade.