China's Premier Li Qiang warns global trade frictions are rising, urges cooperation at Summer Davos
TIANJIN, June 25 — Chinese Premier Li Qiang warned on Wednesday that global trade tensions were 'intensifying' as he addressed the opening ceremony of the World Economic Forum in the northern city of Tianjin.
Officials including Singaporean Prime Minister Lawrence Wong are attending this week's gathering in the port city, which is known colloquially as the 'Summer Davos'.
Li said the global economy was 'undergoing profound changes' -- a thinly veiled reference to swingeing tariffs imposed by US President Donald Trump.
'Protectionist measures are significantly increasing and global economic and trade frictions are intensifying,' Li added.
'The global economy is deeply integrated and no country can grow or prosper alone,' Li said.
'In times when the global economy faces difficulties, what we need is not the law of the jungle where the weak fall prey to the strong, but cooperation and mutual success for a win-win outcome,' Li said.
Beijing's number two official also painted a bullish picture of the Chinese economy, the world's second-largest, which has been beset by slowing growth and a lull in consumer spending.
'China's economy continues to grow steadily, providing strong support for the accelerated recovery of the global economy,' he said.
Beijing, he added, was 'stepping up our efforts to implement the strategy of expanding domestic demand'.
This was 'promoting China's growth into a major consumption powerhouse based on the solid foundation of a major manufacturing powerhouse'. — AFP
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