Live
Audio Only
While meeting with European leaders in Brussels, Belgium at the 12th E.U.-China Business Summit, Chinese Premier Li Keqiang reaffirmed China's will to strengthen free-trade ties with Europe, and used the space to push for an economic strategy of “balanced” and “more inclusive” globalization.
OPINION:
Is China the Leader of a New Wave of Globalization?
The Premier underscored “China's commitment to upholding free trade,” adding that “economic globalization has always been and will continue to be a major driver for sustained global growth.” A theme throughout his talk was the role that European-Chinese relations have had and would have in the future for shaping the globalized economy.
However, Li also acknowledged that free trade and economic globalization have not been without their problems.
“Just as there is no panacea in the world which does not involve any pain, economic globalization is not problem-free. We need to face up to these problems and make efforts to address and alleviate their adverse impacts,” Li said.
He argued that economic globalization is an irreversible “historical trend” that must be upheld and pushed in spite of acknowledged problems with it.
“In any case, one cannot stop eating for fear of choking, to apply the brakes on economic globalization or try to reverse course is neither advisable nor consistent with the historical trend,” he continued.
Li went on to emphasize the necessity of upholding free-trade, and of working to “spread the benefits of economic globalization to more countries and communities.”
In the still fresh wake of U.S. President Donald Trump withdrawing the U.S. from the Paris Agreement, Climate Change was also discussed in the visit to Brussels, with China reiterating their intention to take a role of world leadership on climate change and environmental policy.
“Climate change is a common challenge to mankind... From 2011 to 2016, China' s CO2 emission per unit of GDP was cut by 26.2%. China advocates the new concept of green development, which focuses on promoting ecological progress. Our efforts in energy conservation and emission reduction will only be strengthened, not weakened,” Li said.
China has rapidly expanded its role in shaping the world economy, most recently through the development of the Belt and Road Initiative (BRI). The BRI intends to carry out President Xi Jinping’s vision of expanding links across the Eurasian landmass, underpinned by billions of dollars in infrastructure investment and the forging of trade ties.
Newsletter
