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China’s Prime Minister Li Qiang said that the country would “open its doors that are still wider to the world” because he warned of the risk of “fragmentation” of global supply chains in the midst of trade tensions.
Li, the second highest ranking of Beijing, said that China would make his technological progress available to other countries because he would outline a transition from a production force to a “mega-consumer market”.
“Economic globalization will not be reversed; it will only perform a new path,” Li told the annual summer event of the World Economic Forum in the northern Chinese city of Tianjin. “We will further integrate the global market and come into contact.”
“We will and will not return to closed and isolated islands,” he added.
Beijing has tried to position itself as a stabilizing force for international trade and development in the light of a complete trade war with Washington who has threatened to increase global supply chains.
The US and China met this month in London and hit a fragile ceasefire to reduce their sharp escalation in rates. However, a 90 -day break about the “reciprocal” taxes of US President Donald Trump against other countries will end in July, increasing the prospect of further disruption of world trade.
Last week Pan Gongsheng, governor of the People’s Bank of China, provided an implicit criticism of the US dollar dominance, while arguing for a “multi-polar” currency order, with a growing role for the Renminbi.
“Some countries and regions have disturbed themselves in market activity in the name of the risk,” Li said, referring to a push of Western governments to isolate their economies from China and repeat reactions that he made two years ago on the same forum-the next Covid-19 Pandemic closures.
The “economic and trading system of the world is becoming more diverse,” he added on Wednesday. The “Global South quickly wins strength”.
Li also said that “China’s innovation is open and open source”. The best artificial intelligence groups in the Deepseek and Alibaba country have made their large language models available for developers around the world. “We are willing to share indigenous technologies,” Li added.
The annual meeting of the WEF of the new champions, also known as “Summer Davos”, has offered China’s leadership a platform in recent years to project a hospitable tone for international companies in the middle of tense ties with the West, a weaker economic momentum at home and a urge to more foreign investments in the domestic economy.
This year, guests are former British Prime Minister Sir Tony Blair and political scientist from Harvard Graham Allison.
“The organization of ‘Summer Davos’ strengthens China how it wants to see and be seen in these always volatile times by the international community as the responsible global stakeholder,” said Han Shen Lin, China Country Director for the think tank of Asia Group.
A recent study by the EU Chamber of Commerce in China showed that a record number of respondents said that doing business in the country had become more difficult.
Li said it was “normal for countries to differ and have disagreements in their economic and trade relationships”. But he added that China “was ready to make persistent efforts with all countries to build maximum consensus”.
“The global economy is deeply integrated; no country can hold its prosperity in itself,” he said.
