China Attracts Various Trade Partners With ‘Charm Offensive’
Interestingly, the United States has gone on an increasingly isolationist stand, with its tariffs pushing away almost everyone it has done trade with. China, for its part, is looking for new trade partners. The Trump administration's punitive policies have given China a plethora of new partners to woo into agreeable trade deals.
Beijing has upped its charm and went the opposite of the US' stance; where the US is adopting an 'America First' policy, China is assuring everyone that it is open for business and is committed to a global network of free trade. According to SCMP, it will present its pitches during the World Economic Forum's Twelfth Meeting of the New Champions, an annual gathering that has also become popularly known as the "Summer Davos."
Perhaps, that the US is behaving like it has is an opportunity for China to take the driver's seat in trade. That was what Xi Jinping presented in the World Economic Forum in Davos last year. In that forum, Xi took the floor and made a speech, committing China towards free trade and rejecting isolationist policies or protectionism. Effectively, it was almost a declaration that China was ready to mingle globally.
China has embarked on a realignment of its trade policies. It has sought to develop better relations with Europe, promising deals and pledging to make doing business in China easier for European countries. The first stop for the Chinese 'charm offensive,' it is a deal that could prove timely; The European Union, Bloomberg reports, is feeling the pinch of the US' tariffs against it.
Another surprising trade partner is the Middle East. Chinese president Xi Jinping has completed his tour of African nations for the Belt and Road Initiative of China, Al Jazeera noted. Another part of the 'charm offensive,' perhaps, Xi also pledged to make business easier for Middle Eastern partners and promised further aid in the form of infrastructure in Ethiopia.
The best picture of Chinese mingling should be Tianjin, which is an old industrial town in China. It is now a picture of foreign investments coming in, as well as infrastructure happening in what has become a robust economy. While the US grows increasingly inward-leaning, China must position itself to outwardly welcome new partners in an ever-growing global economy.