China has ‘ability and confidence’ to meet any challenge posed by trade war, Xi Jinping says
- Despite slowdown in global growth, China’s economy has achieved steady expansion, president tells Russian media ahead of state visit
- As trade talks with US stall, Chinese leader travels to Moscow to meet Russian President Vladimir Putin
China has the ability and confidence to withstand any challenges to its economic development caused by its trade war with the US, President Xi Jinping told Russian media ahead of a state visit to Moscow.
Speaking on Tuesday to the state-owned newspaper Russian Gazette and news agency Tass, Xi said that despite global growth having slowed since the start of the year, China had achieved a steady expansion, Xinhua reported.
“We totally have the resources, ability and confidence to cope with the various risks and challenges [of the trade war],” Xi said, adding that the country’s economic expansion had been “steady and good” and would remain so in the long term.
Xi, who begins a state visit to Russia on Wednesday, including a meeting with Vladimir Putin in Moscow, said that improvements to China’s economic structure had boosted efficiency and provided the platform for stable expansion.
We totally have the resources, ability and confidence to cope with the various risks and challenges [of the trade war]
The country was home to the world’s largest middle class population, which created vast demand, he said, adding that domestic consumption now accounted for more than 76 per cent of economic growth.
Xi’s upbeat comments came after Beijing on Sunday released a white paper laying out its official position on the trade war in which it placed the blame for the breakdown in negotiations firmly with Washington.
