During the opening ceremony of the World Economic Forum, Chinese Premier Li Qiang highlighted the intensifying global trade tensions, attributing these changes to increased protectionist measures. He urged that in challenging economic times, cooperation is vital, as no nation can prosper in isolation. Li portrayed a resilient Chinese economy despite sluggish growth and emphasized efforts to bolster domestic demand. Although China's growth target is ambitious, he noted ongoing initiatives to stimulate spending, even as external trade pressures from tariffs threaten the manufacturing sector's stability.
"Protectionist measures are significantly increasing and global economic and trade frictions are intensifying," Li added.
"In times when the global economy faces difficulties, what we need is not the law of the jungle where the weak fall prey to the strong, but cooperation and mutual success for a win-win outcome," Li added.
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