China warns of global economic rift

BEIJING, June 25 (YPA) – China’s Premier Li Keqiang warned on Wednesday of escalating global trade tensions amid signs of a return to protectionist policies.

This warning followed statements and hints from the administration of former US President Donald Trump regarding the possibility of reimposing severe tariffs on trading partners, especially China.

Speaking at the opening of the World Economic Forum in the northeastern Chinese city of Tianjin, Li Keqiang said, “Protectionist measures are increasing significantly, and economic frictions are intensifying,” warning that this trend could undermine the global trading system and threaten to destabilize supply chains.

He noted that the global economy has been experienced profound changes,” implicitly referring to the tariffs the US President Donald Trump imposed on his trading partners, which particularly target Chinese products.

Mr. Li Keqiang emphasized that “the world is highly interconnected, and no country can grow or prosper in isolation.”

“When the global economy faces difficulties, what we need is not the law of the jungle, where the strong prey on the weak, but rather cooperation and openness,” he continued.

These statements comes as the Summer Davos Forum continues this week, with political leaders and economic experts from around the world participating to discuss global economic challenges, including the slowdown in supply chains and volatility in emerging markets.

AA