Beijing - Saba:
Chinese Premier Li Keqiang warned on Wednesday of the "escalation" of global trade tensions.
During the opening of the World Economic Forum in Tianjin (northeastern China), Li said, "Protectionist measures are increasing significantly, and frictions in the global economy and trade are intensifying." He emphasized that "the global economy is highly interconnected, and no country can grow or prosper alone."
He pointed out that the global economy is "experiencing profound changes," an implicit reference to the tariffs imposed by US President Donald Trump on its trading partners, which particularly target Chinese products.
The World Economic Forum meetings, also known as "Summer Davos," are being held this week, with the participation of a number of political leaders and economic figures from around the world.
The Chinese Premier explained that "when the global economy faces difficulties, what we need is not the law of the jungle, where The weakest are prey to the strongest, but rather cooperation."
He also emphasized that his country seeks to develop domestic demand and become a "consumer superpower."
He said, "The Chinese economy continues to grow, providing strong support for the accelerated recovery of the global economy."
The World Economic Forum meetings in Tianjin come several months after US President Donald Trump launched a trade war against his country's trading partners and rivals, most notably China.
Beijing and Washington agreed to a temporary trade truce after successive tariff increases by both sides disrupted global supply chains.
| more of (International) |