From world's factory to world market

The rise of the China International Import Expo reflects China's huge transformation from world producer to world consumer and innovator. Speaking at the second China International Import Expo in Shanghai on Tuesday, President Xi Jinping pledged China will increase its imports, continue to broaden market access, foster a world-class business environment, explore new horizons of opening-up and promote cooperation at multilateral and bilateral levels.

In order to safeguard and promote economic globalization, Xi said at the 2017 World Economic Forum in Davos, Switzerland, that "efforts to reduce tariff barriers and open up wider will lead to interconnectivity in economic cooperation and global trade". In contrast, "the practices of beggaring thy neighbor, isolation and seclusion will only result in trade stagnation and an unhealthy world economy".

Today, that message is critical. The World Bank has forecast only 2.6 percent global growth in 2019. That's the lowest since the global financial crisis. And the collateral damage of trade protectionism is spreading worldwide.