Energy News
TRADE WARS
China's premier warns global trade tensions 'intensifying'
China's premier warns global trade tensions 'intensifying'
By Peter CATTERALL
Tianjin, China (AFP) June 25, 2025

Chinese Premier Li Qiang warned on Wednesday that global trade tensions were "intensifying" as he addressed the opening ceremony of the World Economic Forum.

Officials including Singaporean Prime Minister Lawrence Wong are among those attending this week's gathering in the northern port city of Tianjin, known colloquially as the "Summer Davos".

Li said the global economy was "undergoing profound changes" -- a thinly veiled reference to swingeing tariffs imposed by US President Donald Trump.

"Protectionist measures are significantly increasing and global economic and trade frictions are intensifying," Li added.

"The global economy is deeply integrated and no country can grow or prosper alone," he said.

"In times when the global economy faces difficulties, what we need is not the law of the jungle where the weak fall prey to the strong, but cooperation and mutual success for a win-win outcome," Li added.

Beijing's number two official also painted a bullish picture of the Chinese economy, the world's second-largest, which has been beset by slowing growth and a lull in consumer spending.

"China's economy continues to grow steadily, providing strong support for the accelerated recovery of the global economy," he said.

Beijing, he added, was "stepping up our efforts to implement the strategy of expanding domestic demand".

Li said this was "promoting China's growth into a major consumption powerhouse based on the solid foundation of a major manufacturing powerhouse".

Beijing is eyeing growth this year of around five percent -- a target viewed as ambitious by many economists.

Officials have since late last year rolled out a series of steps intended to boost spending, including key interest rate cuts and steps to encourage homebuying.

But results have been varied, just as added pressure on trade from US tariffs threatens to hit the country's vast manufacturing sector.

- 'Me first' approach -

Li's speech at the WEF gathering sought to portray China as a staunch defender of a rules-based international trading system that is now under attack by the Trump administration.

His comments echoed remarks the day before by President Xi Jinping to Singapore's Wong during a meeting in Beijing in which he called for the countries to resist a "return to hegemony" and protectionism.

Other leaders on Wednesday shared a sense of unease about being forced to choose between superpowers in a new historical period marked by increasing fragmentation and conflict.

Wong told WEF President and CEO Borge Brende during a public discussion that governments should be cautious about "abandoning the concept of economic integration".

"Integration cannot guarantee peace, but I think it certainly gives us a better chance for peace than a 'me first' approach," he said.

Vietnamese Prime Minister Pham Minh Chinh struck a similar chord, pointing out that the United States is Vietnam's largest export market and China its largest source of imports.

When asked about recent trade frictions, Chinh said his country needed to pursue a "balanced" foreign policy that would allow it to be "a friend of all countries".

"We have a good balance but we also need to be prepared as things have gone topsy-turvy lately," he added.

Related Links
Global Trade News

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
TRADE WARS
EU bars Chinese firms from major state medical equipment contracts
Brussels, Belgium (AFP) June 20, 2025
The European Union on Friday banned Chinese firms from government medical device purchases worth more than five million euros ($5.8 million) in retaliation for limits Beijing places on access to its own market. The latest salvo in trade tensions between the 27-nation bloc and China covers a wide range of healthcare supplies, from surgical masks to X-ray machines, that represent a market worth 150 billion euros in the EU. "Our aim with these measures is to level the playing field for EU businesse ... read more

TRADE WARS
UK carbon emissions cut by half since 1990: experts

Tech giants' net zero goals verging on fantasy: researchers

ArcelorMittal stops 'green' steel projects in Germany

Germany's Munich Re withdraws from climate initiatives

TRADE WARS
Indonesia begins $5.9 bn EV battery project despite environment fears

Chinese-Moroccan joint venture inaugurates EV battery parts plant

Europe's lithium quest hampered by China and lack of cash

Tesla to build first grid-scale power plant in China

TRADE WARS
UK ditches mega green energy supply project from Morocco

Trump admin ends halt on New York offshore wind project

Trump shift boosts offshore wind project: New York governor

Norway's Equinor slams 'unlawful' halt to US wind farm

TRADE WARS
Sierra Space opens Power Station solar tech center in Colorado to boost defense production

Bangladesh pushes solar to tackle energy woes

Charging indoor devices with light from lamps and LEDs

Breaking symmetry to boost solar cell performance

TRADE WARS
Court rejects EDF complaint over Czech nuclear tender

GE Vernova and Fortum take steps toward Nordic deployment of BWRX-300 SMRs

GE Vernova to open Ontario engineering center for BWRX-300 small modular reactors

EU unveils new state aid rules in boon for nuclear, renewables

TRADE WARS
Italy fines oil giant Eni over bioplastic market abuse

Acid vapor boosts durability of carbon dioxide-to-fuel devices

Turning CO2 into Sustainable Fuels Could Revolutionize Clean Energy

Cool science: Researchers craft tiny biological tools using frozen ethanol

TRADE WARS
Drilling for water in Venezuela's parched oil town

Blackout at refinery highlights Venezuela's oil industry crisis

Trump says China can continue to buy Iranian oil

Britain, U.S. warn Iran against Strait of Hormuz blockade

TRADE WARS
World Bank and IMF climate snub 'worrying', says COP29 presidency

EU plans to scrap anti-greenwashing rules after pushback

How Paris's Seine river keeps the Louvre cool in summer

Warning signs on climate flashing bright red: top scientists

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.