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Chinese Prime Minister Li Qiang warned that there was a risk of “fragmentation” of global supply chain amid trade tensions, and the country would “still open wide doors to the world.”
Li, the representative of Beijing’s second-highest ranking, said China could take advantage of technological advances in other countries as it outlined the shift from manufacturing power to the “mega-consumer market.”
“Economic globalization will not be reversed. It will just pave a new path,” Li told the annual summer event at the World Economic Forum on Wednesday in urban cities in northern China. “We will further integrate and connect with the global market.”
“We will not return to an isolated island that has been closed,” he added.
In the face of a full-scale trade war with Washington and a full-scale trade war with Washington, which threatened to promote global supply chains, Beijing has sought to position itself as a stable force for international commerce and development.
The US and China met in London this month and struck a fragile ceasefire to reduce sharp escalations in tariffs. But the 90-day suspension of US President Donald Trump’s “mutual” taxation on other countries has been set to expire in July, raising the prospect of further disruption in global trade.
Last week, People’s Bank of China Gonsheng, governor of the People’s Bank of China, proposed a “multipolar” currency order, bringing implicit criticism of the US dollar’s control as the yuan grows.
“Some countries and regions are taking risks to disrupt market activity,” Li said, referring to Western government pushing for isolation of the economy from China, reflecting comments he made on the same forum two years ago.
The world’s “economic and trade system is becoming more diverse,” he added Wednesday. “The Global South is gaining power quickly.”
Li also said, “Chinese innovation is open and open source.” Deepseek and Alibaba, the country’s top artificial intelligence groups, have made large language models available to developers around the world. “We are willing to share indigenous technology,” Lee added.
The new champion WEF’s annual meeting, also known as “Samada Boss,” has in recent years provided China’s leadership with the West with a platform to project a welcoming tone for international business, seeking tensions with the West, weak economic momentum at home, and more foreign investment in the domestic economy.
This year’s guests include former British Prime Minister Tony Blair and Harvard political scientist Graham Allison.
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“China’s ‘Summer Davos’ hosting amplifies how we want to see how the international community wants to see as a responsible global stakeholder in these increasingly unstable times.”
A recent survey from China’s EU Chamber of Commerce found a record number of respondents say it’s becoming more difficult to do business in the country.
“It’s normal for a country to have differences and differences in opinion between economic and trade relations,” Li said. However, he added that China is “ready to make continuous efforts in all countries to build the biggest consensus.”
“The world economy is deeply integrated. No country is isolated from the world and maintains prosperity,” he said.
