China on Trade Wars: There Will Be No Winners.
The Chinese Vice Premier Calls for Support for Economic Globalization
China's First Vice Premier Ding Xuexiang asserts that trade wars will not yield winners and that economic protectionism has no future. During his speech at the World Economic Forum in Davos, he urged support for 'genuine multilateralism' that ensures equal opportunities and rules for all countries.
Ding emphasized that economic globalization is essential for development and is a common beneficiary of a process in which every country can gain advantages.
According to him, the consequences of a fractured world will be 'terrible.' Ding proposes to counter the 'cold war mentality' and for large countries to set an example.
He also noted that artificial intelligence and cutting-edge technologies can help bridge global divides and promote inclusive sustainable economic growth. Meanwhile, China seeks to make advanced technologies accessible to all to overcome the technological gap.
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