China’s Xi wants to use capitalism to save communism. Biden, West must not take the bait

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Last week, China’s dictator Xi Jinping sent Vice Premier Liu He to launch a charm offensive at the annual World Economic Forum (WEF) in Davos, Switzerland, seeking foreign investments to reboot China’s economy and rescue his shaking regime. Should the West take the bait?

When Xi addressed the WEF last year, he sounded triumphant. The Chinese Communist Party celebrated its 100th anniversary the year before. Xi declared, “Through a century of tenacious struggle, the CPC has rallied and led the Chinese people in accomplishing remarkable achievements in the nation’s advancement and betterment of people’s lives…Now, China is marching on a new journey of building a modern socialist country in all respects.” 

When speaking to the domestic audience, Xi was even blunter, proclaiming that China’s rise and the West’s decline was inevitable historical trend. China could become the next superpower through self-reliance without foreign capital, technologies, and good relations. Yet now, China faces severe challenges that it won’t be able to address on its own.

CHINA OFFERS OLIVE BRANCH TO THE WEST AT WORLD ECONOMIC FORUM, BUT SOME STILL SKEPTICAL

While Vice Premier Liu He tried to drum up foreign investments at Davos last week, China reported that its economy grew only 3% last year. 

According

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