Premier Li Qiang said that globalization means that countries must work together.
Chinese Premier Li Qiang has called for more “communication and exchange” to avoid misunderstandings in his remarks at the opening of this year’s ‘Summer Davos’ in Tianjin, the first face-to-face event in three years after the pandemic. COVID-19.
The three-day summit, which began on Tuesday, is being organized by the World Economic Forum, but will focus heavily on China’s place in the world and concerns about how the global economy can move forward in an increasingly conflicted world. , according to the agenda. .
He told delegates that it was time to support globalization and deeper economic cooperation.
“In the West, there are people promoting what is called ‘reducing dependency and reducing risk,'” Li said.
“These two concepts… are a false proposition, because the development of economic globalization is such that the world economy has become a common entity in which we are both mixed. The economies of many countries are mixed between yes, they build on each other, achieve success for each other, and develop together. That’s really a good thing, not a bad thing.”
The summit parallels Beijing’s self-branding as a “champion of multilateralism” in an attempt to differentiate itself from the United States, where protectionist trade policies aimed at China are on the rise.
US President Joe Biden’s administration is expected to finalize an executive order in the coming weeks to limit US outbound investment in China in critical fields such as artificial intelligence, quantum computing and advanced semiconductors due to national security concerns.
The executive order has reportedly been two years in the making and would complement a separate bill before the US Congress that, if passed, would also restrict investment in industries such as pharmaceuticals and autos.
Amid legislative activity, US Treasury Secretary Janet Yellen may travel to China next month to meet with her Chinese counterpart He Lifeng and carry out damage control, she said on Tuesday Bloomberg News citing unnamed officials.
Yellen has said measures aimed at the United States Just as the investment restrictions are “motivated solely by our concerns about our security and our values” and not “to gain a competitive economic advantage” over Beijing.
He has also called for a “de-risking” approach to China that would allow US-China trade to continue rather than a “disastrous” decoupling that would further divide the two superpowers.
If the trip goes ahead, Yellen will be the second US cabinet-level official to visit China in as many months, following a trip by Secretary of State Antony Blinken earlier this month after differences over issues such as Taiwan, semiconductors and an alleged Chinese spy. a flying balloon over the US raised tensions.
Both Biden and his predecessor Donald Trump have sought to restrict US companies and their partners from doing business with Chinese companies linked to the military and the state, as well as to impose punitive tariffs on Chinese companies for alleged unfair trade practices .
Beijing has responded with its own tariffs and sanctions. Both sides, however, now seem ready for a détente.
US and Chinese officials have increased face-to-face meetings since the start of the year, paving the way for Blinken’s trip to China in early June and a brief meeting with Chinese President Xi Jinping.
US President Joe Biden has also said he hopes to meet with Xi in the coming months, which experts predict could happen at the next Asia-Pacific Economic Cooperation summit in the US later this year.
The two men last met in Bali in 2022, on the sidelines of the G20 meeting hosted by Indonesia.
