Chinese Premier Urges Global Cooperation Amid Rising Trade Tensions
Amid growing strains in global trade relations, Chinese Premier Li Qiang issued a warning about the increasing trend of protectionism and escalating economic frictions during the opening of the World Economic Forum (WEF) in Tianjin, northeastern China.
Li emphasized that the global economy is undergoing “profound changes,” pointing to the notable rise in protectionist measures and the intensifying nature of global trade conflicts. He stressed that the world economy is highly interconnected and asserted that “no country can achieve growth or prosperity in isolation.”
His remarks come against the backdrop of trade tensions that escalated in recent years, particularly during the administration of former U.S. President Donald Trump, whose tariff policies targeted several trading partners, most notably China.
Premier Li underscored the need for cooperation in the face of global economic challenges. “When the global economy is struggling, what we need is not the law of the jungle where the weak fall prey to the strong, but rather, cooperation,” he said. He also highlighted China’s commitment to expanding domestic demand and transforming into a “major consumption power,” aiming to play a constructive role in supporting global economic recovery.
The summer edition of the World Economic Forum, often referred to as “Summer Davos,” is being held this week in Tianjin, drawing numerous political leaders and economic experts from around the globe, including Singaporean Prime Minister Lawrence Wong. The forum serves as a major platform for dialogue on economic policies, global trends, and strategies for responding to international challenges.
The forum comes just months after a period of intense trade conflict between the U.S. and China, marked by reciprocal tariff hikes that disrupted global supply chains. However, a temporary truce was reached between the two economic powers, calming markets and offering a window for possible long-term solutions.
