Nelson Morales

An employee of a Chinese heavy equipment manufacturing company works on a machine production line at a factory during a government-organized media tour in Beijing on October 15, 2021. Jade Gao, AFP/File

Article (news)

Agence France-Presse

<div><span class="fr-img-caption fr-fic fr-dib" style="width:960px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/174270564886420220501-chinese-heavy-equipment-afp.jpg" style="width:960px" class="fr-fic fr-dib" alt="An employee of a Chinese heavy equipment manufacturing company works on a machine production line at a factory during a government-organized media tour in Beijing on October 15, 2021. Jade Gao, AFP/File"/><span class="fr-inner">An employee of a Chinese heavy equipment manufacturing company works on a machine production line at a factory during a government-organized media tour in Beijing on October 15, 2021. Jade Gao, AFP/File</span></span></span></div><p>BEIJING — China&#x27;s number two leader told a gathering of business executives in Beijing on Sunday that the country would pursue economic globalization despite &quot;fragmentation&quot;, a thinly veiled reference to trade turmoil sparked by US President Donald Trump.</p><p>The China Development Forum convenes after weeks that have seen Trump slap multiple rounds of tariffs on goods from the country, threatening a vital lifeline as economic challenges persist.</p><p>Chinese leaders have been seeking to steer a shaky economy onto a more stable path since the end of the pandemic, particularly by boosting consumption.</p><p>They are also now seeking to assert the country&#x27;s role as a staunch defender of the multilateral economic system, as Trump wages tariff wars with major US trading partners including China, Canada and Mexico.</p><div><a href="https://www.abs-cbn.com/news/business/2025/3/16/-impossible-us-breweries-buffeted-by-trump-tariffs-1415">&#x27;Impossible&#x27;: US breweries buffeted by Trump tariffs</a></div><p>&quot;China will firmly stand on the correct side of history, that of fairness and justice, and act in a righteous manner amid the rough waters of the times,&quot; Premier Li Qiang said.</p><p>Li&#x27;s speech came at the opening of the annual forum, attended this year by prominent business leaders including Apple CEO Tim Cook.</p><p>The country will &quot;adhere to the correct direction of economic globalization, practice true multilateralism and strive to be a force for stability and certainty&quot;, Li vowed.</p><p>And in apparent reference to renewed trade wars sparked by Trump, he added: &quot;today, global economic fragmentation is intensifying&quot;, while &quot;instability and uncertainty are on the rise&quot;.</p><p>Beijing has in recent weeks expressed an open attitude toward engaging with Trump for trade talks.</p><p>US Senator Steve Daines on Saturday met with He Lifeng, China&#x27;s Vice Premier responsible for economic matters, during a visit to Beijing viewed as a bid to ease strained relations.</p><p>Daines is also meeting with Li on Sunday for talks that are expected to involve the cross-border flow of fentanyl and the deadly drug&#x27;s precursor chemicals from China into the United States.</p><div><a href="https://www.abs-cbn.com/news/world/2025/3/21/trump-denies-reports-musk-to-receive-top-secret-china-briefing-2056">Trump denies reports Musk to receive &#x27;top secret&#x27; China briefing</a></div><div><strong>&#x27;Candid dialogue&#x27;</strong></div><p>Trump says his new tariffs on China are due to Beijing&#x27;s failure to stem shipments of the chemicals, which underpin a devastating drug crisis.</p><p>Beijing has insisted that it cracks down harshly on the illicit production and trade of drugs, describing the issue as one for Washington itself to solve.</p><p>During his meeting with Daines, He said China &quot;firmly opposes the politicization, weaponization and instrumentalization of economic and trade issues&quot;.</p><p>The Vice Premier added that China is willing to &quot;engage in candid dialogue&quot; with the United States to resolve issues.</p><p>The two countries have &quot;many common interests and broad space for cooperation&quot;, he added.</p><p>The tariffs imposed by Trump since taking office in January amount to a 20 percent blanket hike on Chinese overseas shipments to the United States.</p><p>The country&#x27;s exports reached record heights last year, but observers warn that turbulence in the global trading system could force Beijing to find other ways to boost activity.</p><p>Data released Monday indicated an uneven recovery during the first two months of the year.</p><div><a href="https://www.abs-cbn.com/news/business/2025/3/1/why-china-s-temu-and-shein-are-a-big-regulatory-headache-1133">Why China&#x27;s Temu and Shein are a big regulatory headache</a></div><p>Retail sales charted a moderate increase from the previous January-February period, though unemployment rose to its highest level recorded in two years.</p><p>Beijing says it is targeting growth this year of around five percent -- the same as last year and a goal considered ambitious by many economists.</p><div><strong>© Agence France-Presse</strong></div><div><strong>RELATED VIDEO</strong></div><div><strong><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/U6fROIui3U4?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span></strong><br/></div>

<p>Chinese leaders have been seeking to steer a shaky economy onto a more stable path since the end of the pandemic, particularly by boosting consumption.</p>

Chinese leaders have been seeking to steer a shaky economy onto a more stable path since the end of the pandemic, particularly by boosting consumption.

China says to pursue 'correct' path of globalization as trade woes mount

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China says to pursue 'correct' path of globalization as trade woes mount

Agence France-Presse

Published Mar 23, 2025 12:54 PM PHT

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China

Globalization

Trade

Donald Trump

Tariffs

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