Chinese Premier Warns of Dangers of “Global Decline of Globalization”

The Prime Minister stated this in his opening remarks at the summit attended by the top leaders of the organizations, including International Monetary FundandWorld Trade OrganizationandThe World Bank.

“Against the backdrop of currently weak global economic growth, uncertainty has increased … causing significant interference in the operations of the global economy,” Li told attendees at the Diaoyutai State Guesthouse in the Chinese capital.

“The number of new discriminatory trade and investment measures globally is increasing every year” from 2020, he added.

“It can be said that the trend of negative globalization is worsening,” Li said.

and the face China Obstacles, including a prolonged debt crisis in the sector Real estateand high youth unemployment rates, while official data released before Lee’s remarks showed that the rate Inflation Nationwide, it slowed to 0.2 percent in November, another sign of weak demand.

The country’s leaders are looking for ways to support foreign trade, ahead of the inauguration of the new US president Donald Trumpwho threatened to impose high tariffs on Beijing.

Lee criticized “some countries” for “imposing high tariffs in every dispute and erecting protectionist barriers with ever-increasing trade restrictions,” but did not mention the U.S. or Trump by name while reporters were present.

Trump began a bitter trade war with China in his first term, accusing Beijing of intellectual property theft and other “unfair” trade practices.

And he promised to impose himself Taxes higher on imports from the world’s second-largest economy after taking office next month.

Last month, China unveiled measures aimed at boosting trade, including expanding export credit insurance, providing strong financial support to foreign companies and easier cross-border trade settlements.