China News
TRADE WARS
Chinese premier warns world financial leaders of 'deglobalisation' risks
Chinese premier warns world financial leaders of 'deglobalisation' risks
by AFP Staff Writers
Beijing (AFP) Dec 9, 2024

China's number two leader warned on Monday that "deglobalisation" was putting further strain on the world economy, as he welcomed the heads of multilateral financial institutions to Beijing.

Premier Li Qiang made the remarks in his opening speech at a summit attended by the top leaders of organisations including the International Monetary Fund, the World Trade Organisation and the World Bank.

"In the context of weak world economic growth currently, uncertainty... has further increased, causing major interference to the operation of the world economy," Li told attendees at the Chinese capital's opulent Diaoyutai State Guesthouse.

He added that "the number of new discriminatory trade and investment measures globally has increased annually" since 2020.

"It can be said that the trend of deglobalisation is getting worse and worse," Li said.

China is battling headwinds including a prolonged debt crisis in the property sector and high youth unemployment, while official data released just ahead of Li's remarks showed the nationwide inflation rate slowed to 0.2 percent in November in a further sign of weak demand.

The country's leaders are looking for ways to shore up foreign trade before the inauguration of US President-elect Donald Trump, who has threatened to slap onerous tariffs on Beijing.

Li criticised "some countries" for "imposing high tariffs at every turn (and) setting up protective barriers with more and more restrictions on trade", but did not mention the United States or Trump by name while reporters were present.

Trump initiated a gruelling trade war with China in his first term, accusing Beijing of intellectual property theft and other "unfair" trade practices.

He has promised to levy even higher taxes on imports from the world's second-largest economy after taking office next month.

China unveiled measures last month intended to boost trade, including an expansion of export credit insurance, strong financing support for foreign companies and smoother cross-border trade settlements.

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 and S.America countries conclude divisive trade deal
Montevideo (AFP) Dec 6, 2024
The EU and four South American countries concluded a huge but controversial trade deal on Friday despite fierce opposition from France, which called the agreement "unacceptable." The deal between Brussels and four members of the Mercosur bloc - Argentina, Brazil, Paraguay and Uruguay - aims to create a 700-million-customer free-trade area. EU Commission chief Ursula Von der Leyen announced the agreement finalizing negotiations on the accord, which has been 25 years in the making, at a Mercosur ... read more

TRADE WARS
Long March 12 set for inaugural launch from Hainan space center

China inflatable space capsule aces orbital test

Tianzhou 7 completes cargo Mission, Tianzhou 8 docks with Tiangong

Zebrafish thrive in space experiment on China's space station

TRADE WARS
Hong Kong, Shanghai rally on China optimism as Seoul rebounds

China's leaders vow more 'relaxed' monetary policy in 2025

EU and S.America countries conclude divisive trade deal

Chinese premier warns world financial leaders of 'deglobalisation' risks

TRADE WARS
TRADE WARS
Blinken blasts Lavrov for Russian escalation in Ukraine

Trump's nominee to run Pentagon hangs by a thread

Ukraine pushes NATO for invite as Trump looms

At NATO meeting, Blinken promotes military aid, energy assistance for Ukraine

TRADE WARS
Kazakhstan holds talks with France on 1st nuclear power plant

Teletrix launches commercial AR platform for advanced radiation training

Framatome partners with Japan on sodium-cooled fast reactor development

Europe's oldest nuclear power plant to shut in 2033: Swiss operator

TRADE WARS
OpenAI to partner with military defense tech company

NATO steps up efforts to counter Russian 'hybrid war'

UK cybersecurity chief warns defences must improve

China warns of 'countermeasures' after Lithuania expels embassy staff

TRADE WARS
Kazakhstan holds talks with France on 1st nuclear power plant

Teletrix launches commercial AR platform for advanced radiation training

Framatome partners with Japan on sodium-cooled fast reactor development

Europe's oldest nuclear power plant to shut in 2033: Swiss operator

TRADE WARS
BP to 'significantly reduce' renewables investment

Baltic Sea wind farms impair Sweden's defence, says military

Sweden blocks 13 offshore wind farms over defence concerns

Sweden's defence concerned by planned offshore wind power

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.