Premier Li Qiang calls for a global pledge to open up, while ‘power politics’ runs rampant

Beijing has urged global commitment to opening up, while pledging to create more blue ocean markets in a world engulfed by protectionism.

Delivering the opening address to the China Development Forum on Sunday, Chinese Premier Li Qiang said, “protectionism is by no means a panacea for solving problems”, instead calling for opening up and technological progress to drive new market growth.

“[Now,] power politics is running rampant, acting with impunity; at the same time, calls to uphold fairness and justice continue to grow louder,” Li said, without naming any specific countries.

“These seemingly contradictory phenomena reflect, at a deeper level, clashes in ideas and perceptions. In particular, divergences in how we understand some fundamental issues will profoundly shape how countries and nations interact with one another.”

Addressing China’s massive trade surplus, Li said that international trade was, in essence, a two-way choice, which was beneficial for both sides in cooperation, adding that China has never sought to pursue a trade surplus.

He also underscored China’s efforts to tackle “involutionary” competition, which he said has “yielded positive results”, while noting that healthy competition was essential to generate stronger momentum and that the innovation and efficiency of Chinese firms had largely benefited from robust market competition.

South China Morning Post