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Xinhua | Updated:2017-01-19 15:00CANBERRA – Australian business leaders have backed calls from Chinese President Xi Jinping for world leaders to support and embrace free trade and globalization in the face of growing protectionism.Xi told the World Economic Conference in Davos, Switzerland, overnight that it was important that world economies do not get bogged down in a trade war, explaining that “no one will emerge a winner” if protectionism is embraced.On Thursday, a raft of Australian business leaders backed Xis stance including Business Council Chief Executive Jennifer Westacott, who said, as a nation, Australia was “too small an economy to go down the protectionist path and attempt to insulate ourselves from global forces”.”President Xi is right,” Westacott told News Corp. “Theres no viable alternative to open global markets if were serious about sustainably raising living standards across the globe.”The ANZs Martin Whetton, an interest rate strategist, said it wasnt “in anyones interest” to shun globalization in favor of protectionism, while former Australian ambassador to China Geoff Raby said protectionism, especially towards China, would only be bad news for the Australian economy.”Anything that harms Chinas growth is harmful for Australia as a major supplier of materials to China,” Raby told News Corp on Thursday.CEO of the Australia China Business Council, Helen Sawczak also agreed with Xi, explaining that Chinas rise as a global power continues to be a brilliant advertisement for the benefits of globalization.”We welcome President Xis championing of globalization,” Sawczak said in comments published on Thursday.Related StoriesGlobalization brings shifts in VietnamPain and gain of globalizationLead globalization, resist trade warsXi and his better version of globalizationChina and the challenges of globalizationPhotoExploring luxury at SIHH watch fair in GenevaPreparations underway for upcoming 47th Annual Meeting of World Economic ForumTop 10 best global brands in 2016Spring Travel rush: Man who keeps trains on trackFake luxury items cant escape Beijing authentication centerNo time to waste for young musicianMost Viewed in 24 HoursTop 10Top 10 best-selling sedan modelsEditors picksXiaomi releases 4G network-enabled notebookStandalone VR goggles expected to boom in ChinaChina DataInfographic: China monthly economic dataQ&A With CEOChurning out milk from grass to the glassNew direction to ride out perfect stormSpecialPresident Xi visits Switzerland2016 Central Economic Work ConferenceBACK TO THE TOPHOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELWATCHTHISSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperMOBILECopyright 1995 -var oTime = new Date();
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