Chinese President Xi Jinping on globalization and multilateral trade

Chinese President Xi Jinping attends the WEF World Economic Forum’s Davos Agenda Virtual Event and delivers a special speech via video link in Beijing, capital of China, on January 25, 2021

Li Xueren | Xinhua News Agency | Getty Images

Chinese President Xi Jinping said on Tuesday that his country will not seek hegemony, regardless of how powerful it becomes.

“As strong as it may grow, China will never seek hegemony, expansion or a sphere of influence, nor will it engage in an arms race,” said Xi at the opening ceremony of the annual Boao Asia Forum in the Chinese province of Hainan.

Xi also promoted China as a champion of globalization and the multilateral trading system.

Without naming any country, Xi said that international rules should not be defined by one or a few countries.

US-China relations had a difficult start under President Joe Biden.

Biden said last month that China has “an overall goal of becoming the leading country, the richest country in the world and the most powerful country in the world”. Biden said he will not let this happen under his supervision.