China Will Continue "Opposing" Trade Protectionism Says Chinese President

Politics | November 19, 2020, Thursday // 10:45| Views: | Comments: 0
Bulgaria: China Will Continue "Opposing" Trade Protectionism Says Chinese President

Chinese president Xi Jinping addressed in a video speech other APEC leaders on some of the current political and economic issues in the region and the world, days after they approved a massive free-trade agreement, which includes almost a third of global economic output.

He said that China would not pursue "decoupling" and would continue to open up to international business.

Xi said China would continue its trend of integrating into the world economy.

"We will not reverse course or run against the historical trend by 'decoupling' or forming a small circle to keep others out," he said in a video speech as part of the Asia-Pacific Economic Cooperation (APEC) summit. APEC, was hosted this year by Malaysia but held virtually because of the pandemic. Asia-Pacific countries include China, Japan and South Korea and others.

The two-year-long trade war between China and USA , however, is casting the shadow of uncertainty over the direction the United States will take in terms of its policies toward Beijing.

Trade war started by Trump administration slowed the world economy and saw tariffs slapped on billions of dollars' worth of imported goods. 

"Mounting unilateralism, protectionism and bullying as well as backlash against economic globalization have added to risks and uncertainties in the world economy," Xi said.

He also mentioned his country’s new five-year economic plan, which is due to emphasize technological innovation, economic self-reliance and continued market openness.

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