Latest news with #CentreForChinaAndGlobalisation
South China Morning Post
23-05-2025
- Business
- South China Morning Post
Diplomats call for renewed world order to confront Trump tariff chaos
A group of ambassadors in Beijing has called for an overhaul of the world's multilateralism systems to tackle the political and economic chaos unleashed by US President Donald Trump 'The world doesn't need another trade war. The world doesn't need more geopolitical conflicts,' Jorge Toledo, the EU's ambassador to China, said in Beijing on Friday. 'We have a special responsibility in the European Union and in China to stabilise, rebalance and improve our relationships, and not to add more problems to the already very troubled waters that we are witnessing,' Toledo said at a conference hosted by the Centre for China and Globalisation, a Beijing-based think tank. The call comes as economies – large and small – grapple with Trump's aggressive trade policy, particularly his ' Liberation Day ' tariffs against trading partners on April 2. But debates over the effectiveness of existing multilateral platforms go back further, with the failure of institutions such as the United Nations to address a range of crises, from the devastating impacts of climate change to the wars in Ukraine, Gaza and Sudan. 00:45 Trump says he can see himself dealing directly with Xi on US-China trade deal details Trump says he can see himself dealing directly with Xi on US-China trade deal details Smaller or developing countries in Africa, Asia and Latin America have also complained about the lack of representation on international platforms.
South China Morning Post
23-05-2025
- Business
- South China Morning Post
‘Prepare for the worst': China minds, on guard against US punches, stress need for talks
Trade upheaval resulting from the tariff war ignited by US President Donald Trump last month appears to have cast a long-lasting impact on the mindset of Chinese policy influencers, with thoughts of 'preparing for the worst' spreading at a forum in Beijing on Thursday. Advertisement With exporters rushing to secure US-bound shipments during the 90-day truce period, many ex-official and policy advisers have urged the government to guard against any future barrage of American punches, and to also rally the support of major trading partners and forge stronger relations with Global South nations. Zhang Jun, former Chinese ambassador to the United Nations, called the China-US talks in Geneva a positive development, but he explicitly warned that the tariff war – with Washington's tariff levies having risen as high as 145 per cent and effectively bringing bilateral trade flow to a halt before the truce – has already inflicted deep and lasting harm. 'The situation could evolve further, so we need to remain highly vigilant to prevent global order from slipping into chaos and to avoid greater instability on a global scale,' he said at a forum held by Centre for China and Globalisation, a Beijing-based think tank. He underscored the necessity of reforming international institutions – a complex and time-consuming endeavour – and called for stronger regional cooperation. Advertisement 'If the current international institutions continue to fail to function, there will definitely be a vacuum, and some troublemakers would make use of that vacuum and to create more problems,' he said. 'I am not pessimistic, but we have to prepare for the worst and try our best to prevent the worst from happening.'
South China Morning Post
12-05-2025
- Business
- South China Morning Post
US-China trade talks seen as politically symbolic, but is outcome a real ‘deal'?
Landmark China-US talks at the weekend likely carry economic and political significance on both sides while kick-starting a long process toward substantive deals that should address tariffs and other trade barriers, according to analysts. Advertisement The apparent upbeat move in the Swiss city of Geneva stands to give both powers interim political relief at home without appearing weak on the trade war battlefront, they added. Chinese and US negotiators agreed during the talks – their first formal encounter since tariffs skyrocketed in early April as part of President Donald Trump's trade war – to establish a 'trade consultation mechanism' , Vice-Premier He Lifeng told reporters, while the White House released a statement describing the 'China trade deal' and cited Treasury Secretary Scott Bessent's comment of 'substantial progress'. Matteo Giovannini, a non-resident associate fellow at the Centre for China and Globalisation, said: 'The US side is under political pressure to show wins.' 'China, on the other hand, sees negotiations not as a singular outcome but as a strategic process to manage bilateral competition, economic resilience, and long-term development goals,' he explained, noting that Beijing's behaviour suggests a game plan rooted in strategic patience and economic self-preservation. Advertisement 'Through resilience-building, China aims to insulate the domestic economy from external shocks while selectively engaging global markets,' he added.
