DAVOS, Switzerland — President Trump used the World Economic Forum meeting to woo investors and business leaders by reassuring them that “America first does not mean America alone.” But it was clear in Davos, Switzerland, this past week that geopolitical momentum lay with Beijing, not Washington.

At one end of town, President Michel Temer of Brazil welcomed an unexpected offer from Beijing for Latin American nations to work closely with a Chinese initiative, known as the Belt and Road, intended to spread its economic and diplomatic influence abroad.

At the other end of town, a senior Chinese diplomat helped introduce the prime minister of Pakistan at a breakfast meeting. Prime Minister Shahid Khaqan Abbasi used his talk to praise the rapidly expanding Chinese investments in his country, including to build power stations and a large port.

One of the best-attended speeches at the forum was that of Liu He, a member of China’s ruling Politburo, who promoted the Belt and Road initiative, also known as One Belt, One Road. Participants here said the Chinese initiative was already rivaling more established, traditionally American-led, international institutions.