How much significance should we attach to Xi's Davos speech? The rhetoric about "abandon[ing] ideological prejudice and jointly follow[ing] a path of peaceful coexistence, mutual benefit and win-win cooperation" seems unusually rosy. Is this an attempt to capitalise on the US's battered image and/or distract from the WHO investigation in Wuhan? Or is it a genuine olive branch for "a new type of international relations"?