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Chinese PM Calls on the World

Chinese PM Calls on the World to Eliminate Trade Barriers. Chinese Premier Li Qiang said that the world needs to remove barriers to competition and trade to overcome global challenges. Li said this at the World Economic Forum (WEF) in Davos on Tuesday (16/1/2024).

He claims that healthy competition is the key to increasing cooperation and innovation. In his speech, Li highlighted the growing gap between the North [Europe and America] and countries in the South. According to him, the gap between the two parts of the world is increasingly acute.

For equality, he emphasized the need for cooperation in development. Meanwhile, he also emphasized that the world needs to remove barriers to competition and cooperate on environmental strategies and international scientific exchange.

He highlighted the importance of keeping global supply chains stable and smooth. In addition, Li in front of business leaders at the World Economic Forum also said that China’s economy had recovered and improved, growing around 5.2% above the official target of around 5%. This figure was confirmed through China’s National Statistics Data on Wednesday (17/1).

He also said that China is committed to opening up its economy and creating favorable conditions for sharing opportunities. According to him, investing in his country is not a risk, but an opportunity. Chinese PM Calls on the World to Eliminate Trade Barriers

China’s bid to say the country is open for business has been met with skepticism in some boards, considering broader anti-espionage laws, raids on consulting firms and due diligence firms, and exit bans.

The business world is also concerned about tightening regulations in China and more favorable competition for state-owned companies. On the other hand, in her meeting with Li, European Commission President Ursula von der Leyen emphasized that Chinese leaders need to take action against the trade imbalance between Europe and China.

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