China’s Premier Li at World Economic Forum in Tianjin:
- The world economy and international economic and trade cooperation once again face new difficulties and challenges
- Current economic and trade system is becoming more diverse, the structure of international trade is also undergoing continuous adjustments
- The risk of fragmentation in global industrial supply chains is on the rise
- Some countries and regions are interfering with the international market division of labour, citing the need to mitigate risks
- There are some disruptive factors continuously impacting the international economic and trade landscape, while there are also some positive forces actively seeking to establish common ground
- In the process of participating in the reshaping of international economic and trade rules and order, it is essential to follow the ‘right path’ and align with ‘prevailing trends’
- Economic globalisation moves forward with ‘twists and turns’, spiraling upwards
- In the process of participating in the reshaping of international economic and trade rules and order, it is essential to follow the ‘right path’ and align with ‘prevailing trends’
- It is essential to proactively implement more practical measures, uphold free trade and multilateralism
- China is willing to work with other countries around the world to actively seek common ground while reserving differences
- We should adhere to principle of joint deliberation and sharing, strengthen macro-policy coordination, and safeguard stability of global industrial and supply chains
- China will continue to enhance global connectivity and promote sustainable development
- China will actively participate in G20, BRICS
- Judging from key indicators, China’s economy showed a steady improvement in Q2
- Regardless of how the international environment evolves, China’s economy has consistently maintained a stron momentum for growth
- We are confident in out ability to maintain a relatively rapid growth rate for China’s economy
- Aim for China to transition from a major manufacturing power to a mega consumer market
- That will open up vast, untapped markets for businesses in various countries
- Willing to share original technologies and innovative scenarios with various countries
- Hope all will engage in activities that benefit greater good, abide by market principles in all endeavors, persist in doing the ‘right thing’
- Urges all parties refrain from politicising and securitising economic and trade issues excessively
- Oppose decoupling, and focus on long-term goals
- China government to encourage and support entrepreneurs
- Calls on all countries to oppose decoupling, supply chain disruption
- Warmly welcomes enterprises from all over the world to invest in China, establish a strong foothold here
I bolded a few of those points above that caught my eye. ‘Mega consumer market’ will be something exporters TO China would like to see.
This article was written by Eamonn Sheridan at www.forexlive.com.