The Chinese leader has sought to leverage his country’s economic strength into diplomatic clout with multinational initiatives such as the Asian Infrastructure Investment Bank and his signature plan to expand infrastructure along ancient trading routes to Europe. At Davos, Xi announced a global summit on the strategy for May, saying Chinese investment in more than 100 countries had surpassed $50 billion over the past three years.
Arthur Kroeber, Beijing-based founding partner and managing director at Gavekal Dragonomics, said that provided Xi a platform to demonstrate his overseas clout back home, where the Chinese leader is preparing for a mid-term reshuffle of the party’s leadership ranks.
“It’s in Xi’s interests to take every opportunity he can and present himself as this leader who is powerful, strong and visionary, to give himself some international prestige,” said Kroeber, author of “China’s Economy: What Everyone Needs to Know.” Xi’s appearance at Davos, which has previous been attended by China’s premiers, is “consistent with the notion that Xi is now the only major authorized spokesman for the whole country.”
Xi urged other countries to also keep their doors open to Chinese investors, drawing another contrast with Trump, and said he had no plans to devalue the yuan in order to boost competitiveness.More in Bloomberg.
Arthur Kroeber is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers´request form.
Are you looking for more experts on China´s outbound investments at the China Speakers Bureau? Do check out this list.