Armstrong Economics Blog/China Re-Posted Jan 26, 2021 by Martin Armstrong
Chinese President Xi Jinping at Davos in Switzerland attended by video. He continued to defend globalization also referring to multilateralism and climate change. However, he never mentioned either Trump or Biden but he did criticize the US trade war with China. He did warn that any conflict between Beijing and Washington would be bad for the entire world. You will recall that Biden said he would return to the UN Paris Accord to force China to comply. So his remarks were pointed at Biden with respect to confrontation and at Trump for the trade war.
Nevertheless, he played the game well and called for global collaboration on climate change, public health, technology, and saving the global economy, which the Wo9rld Economic Forum has been destroying behind the curtain with its lockdowns to reduce CO2 which is only weakening the economies in the West. Xi Jinping made a pledge to become carbon-neutral by 2060, not 2030. He said that China will continue to promote sustainable development. China will fully implement the 2030 Agenda for Sustainable Development but it will do more on the ecological front by transforming and improving its industrial structure and energy mix at a faster pace and promoting a green, low-carbon way of life and production. He said: “I have announced China’s goal of striving to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060.”
That is to disarm the Gates contingent who have their clock in New York counting down for 7 years to support the Agenda 2030 put out by Schwab. No doubt they will try to pressure Xi to bring that to 2030, but that will fail.
China has seen its economy recover far more than in the West which is obsessed with using the virus for climate change. China will see growth come in at about 2.3% for 2020 and it will perhaps surge to 5%-8% in 2021 rejecting the nonsense of lockdowns that are destroying businesses everywhere. Anyone who has gone to Times Square will often visit Carmine’s famous Italian restaurant. With zero tourism, plays dark, and offices empty, there is no business at all. These lockdowns for the manufactured pandemic have devastated New York. There is nothing to return to. The landlord filed a notice of default for unpaid rent against the once-popular Italian restaurant. The culture of New York is gone and the only people cheering are the environmentalists. They won. They ended tourism and commuting all at once. China never took such crazy actions so their economy has survived unlike those in the West.
Trump was wrong in blaming China for the COVID virus when Fauci was experimenting with this very virus from bats and when told to shut it down, he sent it off to Wuhan. Trump was clearly dead wrong on that but the press was so supporting Fauci that it would have been political suicide to blame him. Still, Xi Jinping said international institutions, including the World Health Organization, should be strengthened.
Concerning international geopolitical relations, Xi Jinping warned everyone not to “meddle” in China’s affairs, by which he means Beijing’s actions in Hong Kong, Xinjiang, Taiwan, or Tibet. That was a clear warning to Biden to stay out of China’s affairs. He added that “to build small circles, or…wilfully impose decoupling, supply disruption, or sanctions…will only push the world into division and even confrontation.”
China is pushing to be the world leader in AI. This is also why we may be the only forecaster allowed in China on a major scale because they also know our reports on all the Chinese stocks are entirely written by a computer.