Long seen as a secluded nation, China was forced to open up after a series off wars and treaties signed with Western nations. Then they closed off again during the communist revolution and the years under Mao's rule, only to open up again in the late 70's and onward. But as China opens up again and pioneers itself as a global force and reabsorb western ideas and cultures, many are still calling out China as being "secretive" and protectionist. President Xi Jinping argues otherwise.
Right now in Shanghai, China is hosting the "China International Import Expo" to showcase how it is also a huge importer as well, in a move to justify its stance in the tense trade war. Xi Jinping says the country is moving in a direction that will be even more open to the world. He promises the market will open even more and cut costs for importers. He wants to boost imports and elaborate on China's stance as a supporter of free trade, of course with the caveat of having many state-owned industries mixed in with free enterprises.
This five-day event is drawing in 3600 countries and 152 nations along with leaders from countries like Egypt and Vietnam. It comes to no surprise that the U.S. has a limited presence there. An interesting aspect of the fair was the presence of Chinese-bought foreign companies like Sweden's Volvo Cars and General Electric Appliances which was bought by China's Haier Group in 2018.
The task now is to persuade people that the primarily state-owned economy is not leveling off and will continue to steadily rise. There are problems to address like a 25% dip in the stock market and 6.5% economic growth.
To quote Xi Jinping, "after more than 5000 years of hardship, China is still here. Facing the future, China will always be here".
https://www.theguardian.com/world/2018/nov/05/xi-jinping-promises-to-open-chinese-markets-in-trade-war-joust-with-trump
https://www.cnet.com/news/its-official-ge-appliances-belongs-to-haier/
https://abcnews.go.com/Business/wireStory/chinas-xi-promises-market-opening-import-fair-begins-58968382
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