The Chinese president said reforms are to “make the pie bigger, and then divide it properly” at the Davos Agenda virtual event hosted by the World Economic Forum. Xi Jinping also called for “peaceful co-existence” and urged countries to move past a “Cold War mentality.” (The Logic)

Talking point: Arguably the most powerful Chinese leader since Mao Zedong, Xi has led a flurry of government crackdowns on the private sector driven by his common-prosperity policy. The clampdowns have resulted in the delisting of the ride-hailing company Didi from the New York Stock Exchange. The common-prosperity campaign—whose backers include the tech giant Alibaba—came amid relatively slower economic growth in the country, and some observers have pointed out its global business impacts.