No turning back the tide of globalization

Delivering his keynote speech at the World Economic Forum in Davos, Switzerland, on Tuesday, President Xi Jinping reiterated China's commitment to opening-up and its firm opposition to trade protectionism.

Speaking in front of political and business leaders from around the world, he said it is not globalization that should be blamed for the sluggish recovery of the global economy.

The unimpressive economic recovery and the widening gap between the haves and have-nots as well as the South and the North, as Xi pointed out, are the result of insufficient momentum for growth, ineffective global governance and unbalanced development.