China’s Xi says countries must abandon ‘Cold War mentality,’ warns against confrontation

The WEF founder and Executive Chairman Klaus Schwab listens to the Chinese President at the opening of the WEF Davos Agenda virtual sessions.

China's President called for countries to move away from a "Cold War mentality", saying that confrontation only invites disastrous repercussions.

His comments come at a time when tensions between China and the U.S. over Taiwan are high.

Speaking via videoconference at The Davos Agenda virtual event, Xi said: "We need to discard Cold War mentality and seek peaceful co-existence and win-win outcomes."

Our world is not tranquil. There are rhetorics that stoke prejudice. He said that containment, suppression or confrontation do all harm, not the least good to world peace and security.

History has shown time and again that confrontation does not solve problems. It only invites disaster. No one can be protected. They hurt the interests of others as well as one. The practices of hegemony and bully are counter to the tide of history.

Peaceful development and win-win cooperation is the right way to go.

One of the region's top experts has warned that China's "disturbing" stock market move could be seen as the early stages of a bigger problem, while Beijing and Washington's tense relationship over Taiwan has been identified as a top risk for Asia this year.

Stephen Roach told CNBC in July last year that tensions between the U.S. and China could get to levels not seen since the early 1970s.

China has been trying to get Taiwan to accept its rule, as it claims that Taiwan is part of its own territory. Taiwan's leaders argue that it is a state.

A call to embrace international cooperation to defeat the coronaviruses was one of the issues addressed by the special address by the president of the World Economic Forum.

Even as the country continues to implement a "zero-covid" policy, Xi said he was confident of a "streamlined, safe and splendid" Games. Next month is when the event will start.

The World Economic Forum postponed its annual gathering due to health and safety concerns over Covid-19.

The discussion with Christine Lagarde, the Brazilian Economy Minister, Kristalina Georgieva, and India's Finance Minister will be held at 7:30 a.m. Friday. They will be talking about the global economic outlook at the meeting. You can watch it live.