"We must remain committed to promoting free trade and investment through opening up and say no to protectionism," Xi told an opening meeting of the WEF. During his campaign, Trump promised to raise tariffs on Chinese goods and declare Beijing guilty of keeping its currency artificially low. "China has no intention to boost its trade competitiveness by devaluing the renminbi, still less will it launch a currency war," Xi said Tuesday. Xi cast the world economy as adrift, saying it lacked a "driving force" with inadequate global governance and unequal benefits that have widened the gulf between rich and poor. Xi hit hard on the metaphor of the world economy as an "ocean," saying countries "must have courage to swim in the global market."

Source: ABC News January 17, 2017 05:03 UTC