LIMA, Peru -- China's President Xi Jinping is calling for a free trade agreement across the Asia-Pacific region to promote more equitable global growth.
Xi made the forceful call against protectionism in a keynote address to business leaders at the Asia-Pacific Economic Cooperation forum in Peru on Saturday.
China's President Xi Jinping addresses the audience during a meeting of the APEC (Asia-Pacific Economic Cooperation) CEO Summit in Lima, Peru, November 19, 2016. (Photo: Reuters/Mariana Bazo)
Xi said that China has contributed to 40 per cent of global growth since the global financial crisis. China's economy is now cooling as it seeks to rebalance growth away from exports to more domestic sources of growth, but it remains an engine of global growth.
Xi said that more than 700 million Chinese tourists will fan out across the globe in coming years and the country will invest billions abroad.
Still, he said the measure of globalization has to be an improvement in peoples' lives and a reduction of poverty. He said a proposed free trade area encompassing all 21 APEC members can contribute to that goal.