China’s Premier warns of rising global trade tensions at WEF

Chinese Premier Li Qiang today delivered a stark warning about escalating global trade tensions, urging international cooperation over protectionism at the opening of the World Economic Forum’s Annual Meeting of the New Champions (AMNC 2025), colloquially known as “Summer Davos,” in Tianjin.

His address to world leaders and economic stakeholders underscored a growing sense of unease within the global economy.

Li characterized the global economy as undergoing “profound changes,” citing a significant increase in protectionist measures and intensifying trade frictions.

This statement was widely interpreted as a veiled criticism of U.S. policies, particularly the tariffs imposed under President Donald Trump.

“In times when the global economy faces difficulties, what we need is not the law of the jungle… but cooperation and mutual success for a win-win outcome,” Li asserted, emphasizing a collaborative approach to global economic challenges.

Despite mounting challenges, Premier Li sought to reassure the international community about China’s economic resilience, reiterating that China remains a crucial driver of global recovery.

He reaffirmed Beijing’s ambitious 5% growth target for 2025, a figure many economists view as optimistic given current sluggish consumer demand and weak property markets.

Li stated that China is “expanding domestic demand” and aims to transition into a “major consumption powerhouse,” a strategy bolstered by its strong manufacturing base.

The WEF summit has attracted a high-profile roster of attendees, including Singapore’s Prime Minister Lawrence Wong.

Discussions have largely centered on the pervasive global economic uncertainties and a discernible shift away from traditional globalization models.

Chinese President Xi Jinping echoed Premier Li’s remarks during a separate meeting with Prime Minister Wong, cautioning against a “return to hegemony” and the rise of protectionism.

However, not all analyses share Beijing’s optimistic outlook. Leah Fahy, China Economist at Capital Economics, warned in a recent note that China’s economy is expected to experience further slowdown in the coming months.

ALSO READ : Nigeria’s silent crisis: Air pollution’s devastating impact on public health

Similarly, WEF President Borge Brende highlighted the uncertainty surrounding the long-term impact of U.S. tariffs, cautioning that the world could face a “decade of lower growth” if current trends persist.

The Annual Meeting of the New Champions, or “Summer Davos,” is the World Economic Forum’s annual gathering in China.

It brings together global leaders, innovators, and changemakers to address pressing economic challenges and explore new frontiers for sustainable and inclusive growth, with a particular focus on emerging economies and technological advancements.