Globalisation is best way through the trade war, China’s Vice-President Wang Qishan says
- Protectionism should be opposed, he says, with US and China set to resume trade talks
- China is ‘determined to open up to learn the advantages of other nations’
Wang made the remarks on Monday with China and the US poised to resume their trade negotiations, which stalled in May, since the US slapped further tariffs on Chinese imports.
“China’s development can’t be separated from the world, and the world’s development cannot be separated from China,” Wang said in an opening address to the World Peace Forum at Beijing’s elite Tsinghua University.
“Major nations have to shoulder more responsibility and make greater contributions to the stability and peace of the world,” he said.
“They should promote common security through seeking common interest, and we oppose the practice of protectionism in the name of national security.
“China will seek development through reform and innovation, and is determined to open up to learn the advantages of other nations.”
Wang said China would not seek hegemony, and that different political, cultural and religious norms should not exclude each other. Joint efforts should be made to promote economic globalisation, he argued.
“Economic globalisation is the main trend,” he said. “We will see challenges and turbulence in the path ahead. But we have to stick to the principle of peaceful development, and not be shaken in pushing ahead with economic globalisation.”
Wang advocated more dialogue about cooperation on economic, financial, technological and energy matters.
A close ally of Chinese President Xi Jinping and known as China’s “firefighter” for taking on tough jobs, 71-year-old Wang has experience of dealing with Washington as a vice-premier, having overseen financial affairs and economic ties with the US.
He became familiar with American business and political leaders – especially those with a Wall Street background such as Henry Paulson, who was treasury secretary in the George W. Bush administration – and has continued meeting them since becoming vice-president last year.
Additional reporting by Kristin Huang
