| 0 comments ]

WEF's Schwab Gives China's Xi Propaganda Platform Against "Hegemonic Bullying... Cold War Mentality"

With Davos shut down by the latest incarnation of COVID variant, the world's great-est and good-est decided this year's get together to tell the world what they should think would be done virtually this year.

None other than the Dr.Evil-esque Klaus Schwab kicked things off in a brief introductory statement that had everything except a pinky-finger-in-the-corner-of-the-mouth:

After urging his fellow elites to "narrow the gap between rich and poor," Schwab introduced Chinese President Xi Jinping who wasted not time in warning against the "fanning of ideological antagonism and the politicizing of economic, scientific and technological issues."

Diplomatically careful not to accuse any individual country - but blatantly obvious to anyone not completely red-pilled by Schwab's heroic introduction of the Chinese leader - Xi warned nations against protectionism, well as "hegemony and bullying," urging countries to work cooperatively on global challenges.

 “We need to discard Cold War mentality and seek peaceful co-existence and win-win outcomes.”

Our world today is far from being tranquil. Rhetorics that stoke hatred and prejudice abound. Acts of containment, suppression or confrontation arising thereof do all harm, not the least good to world peace and security,” he added, according to a translation.

History has proved time and again that confrontation does not solve problems. It only invites catastrophic consequences."

"Protectionism and unilateralism can protect no one. They ultimately hurt the interests of others as well as one’s own. Even worse are the practices of hegemony and bullying, which run counter to the tide of history.

Xi said the “right way forward for humanity is peaceful development and win-win cooperation.”

Read Xi's full statement here.

This is the same Xi who is peacefully militarizing islands in the Pacific, recently bullied any dissenters (or media) in Hong Kong, hegemonically pressuring Taiwan's democratically-elected leaders to accept his rule, and 'allegedly' is suppressing millions of Uyghur muslims.

However, amid all the blame-scaping for global unease, Xi's true fears emerged as he made it very clear that "economic globalization is the trend of the times" and that other nations tightening policies (as China eases) is a recipe for disaster (in the world according to Xi):

"The global low inflation environment has notably changed, and the risks of inflation driven by multiple factors are surfacing.

If major economies slam on the brakes or take a U-turn in their monetary policies, there would be serious negative spillovers.

They would present challenges to global economic and financial stability, and developing countries would bear the brunt of it."

As we have noted previously, this is likely to become THE global economy story of the first half of 2022 as China is forced to ease (with PPI in the double-digits and growth still above 8%) to forestall a housing crisis and social unrest while the rest of the world is tightening (especially The Fed) amid multi-decade high inflation and political pressures.

We have little doubt that the rhetoric from Beijing will crank up to '11' once The Fed starts hiking and China sees huge capital outflows - mostly via crypto.

The forward FX market still expected Yuan to weaken (against the USD) over the next 12 months...

BUT, simply put, one of these two 'markets' will be wrong - the market is anticipating dramatic rate-hikes this year by The Fed AND is expecting the Chinese Yuan to strengthen (or weaken less) over the same period...

And we suspect we know which as Rabobank noted earlier:

"Whichever way the Fed goes, it will be wrong. Back off, and watch inflation expectations become more entrenched. Press on, and watch things get ugly."

And finally, if you doubted Xi's support for one-world-government (presumably based in Beijing), this closing paragraph should clarify things:

"Major economies should see the world as one community, think in a more systematic way, increase policy transparency and information sharing, and coordinate the objectives, intensity and pace of fiscal and monetary policies, so as to prevent the world economy from plummeting again. Major developed countries should adopt responsible economic policies, manage policy spillovers, and avoid severe impacts on developing countries. International economic and financial institutions should play their constructive role to pool global consensus, enhance policy synergy and prevent systemic risks."

...

"We should follow the trend of history, work for a stable international order, advocate common values of humanity, and build a community with a shared future for mankind. We should choose dialogue over confrontation, inclusiveness over exclusion, and stand against all forms of unilateralism, protectionism, hegemony or power politics."

Translation: Can't we all just get along... in line behind Beijing.

Tyler Durden Mon, 01/17/2022 - 19:00
https://ift.tt/3tChOH6
from ZeroHedge News https://ift.tt/3tChOH6
via IFTTT

WEF's Schwab Gives China's Xi Propaganda Platform Against "Hegemonic Bullying... Cold War Mentality" SocialTwist Tell-a-Friend

0 comments

Post a Comment