China warns against trade wars at Davos as Trump begins second term
Date
1/21/2025 7:46:29 AM
(MENAFN) A senior Chinese official cautioned on Tuesday that no nation would benefit from a trade war, speaking at the World Economic Forum in Davos as Donald trump began his second term in the White House.
Vice Premier Ding Xuexiang addressed the forum, stating that a "tug of war" was unfolding between those advocating for and against economic globalization.
“Transformation unseen in a century is accelerating across all sectors, with impending tariff and trade wars,” Ding remarked.
“The global governance system is undergoing deep changes. Human society stands once again at a critical crossroads,” he added, highlighting the global tensions at play.
During his election campaign, Trump pledged to increase tariffs on China, continuing a trade conflict he initiated during his first term in office.
“Protectionism leads nowhere, and no one wins in a trade war,” Ding emphasized, though he did not directly reference Trump or the United States in his statement.
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