No one will emerge winner in a trade war: Xi Jinping at WEF 2017

Says economic globalisation has become a Pandora's Box, but global problems are not caused by it

Chinese President Xi Jinping warned countries on Tuesday against returning to protectionist trade policies, saying there would be no winners in a trade war.

Likening protectionism to "locking oneself in a dark room" to protect from danger but also depriving the room of "light and air", he told countries not to pursue their own interests at the expense of others.

"No one will emerge as a winner in a trade war," Xi told the World Economic Forum in Davos, Switzerland.

Economic globalisation has become a "Pandora's Box" for many, but global problems are not caused by it, he said.

He said that international financial crises were caused by the excessive pursuit of profits, not globalisation.

China's economy has entered a "new normal", but its economic fundamentals are unchanged, the Chinese President said, adding a major driver now was household consumption.

Despite the sluggish global economy, China's economy is expected to have grown 6.7% in 2016, Xi said.