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Wang Yi: Trade Frictions Should Be Properly Addressed Based on Rules and Consensus

On September 28, 2018 local time, when delivering a speech at the 73rd Session of the United Nations General Assembly, State Councilor and Foreign Minister Wang Yi expressed that economic globalization should not be a process for some to gain and others to lose, still less should it result in widening the gap between the North and the South. We should not only adapt to the trend of economic globalization, but also ensure that it advances in an open, inclusive, universal beneficial, balanced and win-win direction and truly benefits every country and everyone.

Wang Yi noted that international trade is complementary and win-win by nature. It should not be a zero-sum game in which one gains at the expense of others, and no one should be allowed to place its own interest above the interest of others. Protectionism will only hurt oneself, and unilateral moves will bring damage to all. Regarding trade frictions, China stands for a proper settlement based on rules and consensus through dialogue and consultation on an equal footing. China will not be blackmailed or yield to pressure. China has taken steps not just to defend its own legitimate rights and interests. China is also acting to uphold the free trade system and international rules and order for the benefit of global recovery and the common interests of all countries.

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