China Ready to Work with International Community to Steer Global Economy Back to Growth

Strategic Insights -

Chinese Premier Li Qiang has called for the international community to uphold the multilateral trading system, citing the need to counter rising unilateralism and protectionism. Li made the remarks during a meeting with World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala on the sidelines of the 17th BRICS Summit. He emphasized that economic globalization is an irreversible trend, reaffirming China's commitment to multilateralism and free trade.

Key Takeaways:

  • Premier Li Qiang stated that China is ready to work with the international community to help steer the global economy back onto a path of growth.
  • He emphasized the need for the international community to uphold the multilateral trading system to counter rising unilateralism and protectionism.
  • Li reaffirmed China's commitment to multilateralism and free trade, stressing that economic globalization is an irreversible trend.
  • The Chinese premier highlighted China's adoption of more proactive and effective macroeconomic policies this year, including efforts to expand domestic demand and boost consumption.
  • He noted that China's massive consumer base of over 1.4 billion people is a powerful driver of economic demand and growth.
  • Li emphasized that China will continue to open up to the world voluntarily and unilaterally, adhere to WTO principles and market rules, and share its development opportunities with other nations.
  • WTO Director-General Ngozi Okonjo-Iweala acknowledged the current strain on the multilateral trading system and urged WTO member states to strengthen dialogue and cooperation to promote sustainable development.

Statistics:

  • China's consumer base is over 1.4 billion people.
  • The current multilateral trading system is under strain due to rising unilateralism and protectionism.
  • Global economic and trade growth faces serious challenges.
  • The WTO has over 160 member states.
  • The 17th BRICS Summit was accompanied by a meeting between Premier Li and WTO Director-General Okonjo-Iweala.

Sources:

  • Azernews, citing China's Xinhua news agency.
  • Information from the meeting between Premier Li and WTO Director-General Okonjo-Iweala on the sidelines of the 17th BRICS Summit.