He Weiwen, a former economic and commercial counselor at the Chinese consulates in New York and San Francisco, said it is often underestimated how powerfully Xi's shared destiny message resonates with emerging countries, particularly those in the Global South.

"With this goal, China wants to devote itself to peace and development for all countries, leading to the prosperity of them all, whether they are big or small. It is a very constructive vision," he said.

By asserting that "America is back", He believes that the US leader remains committed to a world in which the United States maintains global dominance.

"It is not for the common interest of all countries in the world. In fact, it might be to the cost of some of them. It sees China as the greatest obstacle to it getting its own way," he added.

Koh King Kee, president of the Centre for New Inclusive Asia, a think tank based in the Malaysian capital Kuala Lumpur, agrees that China is now the country with the big vision.

"It is saying that we are all part of the global village and that no one civilization is superior to another. It believes diversity is the foundation for peaceful coexistence. China envisions a world order that is fair, equitable and just, built upon the spirit of openness, inclusiveness, and mutual respect," he said.

In his address to the WEF, Xi strongly defended multilateralism.

"Multilateralism is about having international affairs addressed through consultation, and the future of the world decided by everyone working together," he said.

"To build small circles or start a new Cold War, to reject, threaten or intimidate others, to willfully impose decoupling, supply disruption or sanctions, and to create isolation or estrangement will only push the world into division and even confrontation."