Chinese Premier Li Keqiang on Wednesday cautioned against the growing wave of global protectionism, warning that trade tensions are escalating and threatening the stability of the world economy. His remarks came during the opening session of the World Economic Forum’s Annual Meeting of the New Champions, commonly known as “Summer Davos.”
“Protectionist measures are increasing significantly, and frictions in the global economy and trade are escalating,” Premier Li said in his keynote address. “The global economy is highly integrated, and no country can grow or prosper alone.”
Li’s comments, widely interpreted as a response to recent U.S. trade policies, come just months after President Donald Trump initiated a series of tariff hikes targeting Chinese goods—moves that sparked a tit-for-tat trade war between the world’s two largest economies and disrupted global supply chains. Though a temporary truce has been reached, tensions remain high.
He emphasized that the world is undergoing “profound changes” in its economic landscape, and cautioned against unilateralism. “What we need is not the law of the jungle, where the weakest are preyed upon by the strongest, but rather cooperation,” he said.
Highlighting China’s evolving economic strategy, Li reaffirmed Beijing’s commitment to boosting domestic consumption and transforming the country into a “consumer superpower.” He also expressed confidence in China’s role as an engine of global growth, stating that “the Chinese economy continues to grow, providing strong support for the accelerated recovery of the global economy.”
This year’s forum in Tianjin gathered political leaders, economists, and business figures from around the world, including Singapore’s Prime Minister Lawrence Wong, to address key issues shaping the global economic agenda.
