Trade Tensions Escalate as China Faces Global Pressure

Premier Li Qiang urges global partners to reject protectionism amidst China's record trade surplus and tensions with major economies. Calls for free trade are intensifying as analysts attribute tariffs to China's export-driven model. Despite international pressure, China remains firm on its economic strategies.

China's Premier Li Qiang has called on trading partners to resist rising protectionism, mere days after China reported a historic $1 trillion trade surplus, fueled principally by exports outside the United States. Amid escalating tensions with several major economic powers, Li emphasized the importance of global governance in trade.

During the '1+10 Dialogue' summit in Beijing, attended by representatives from the IMF, World Bank, and others, Li stated that increasing tariffs are severely impacting global economic activities. Analysts and economists are convinced that China's reluctance to transition from its export-driven economy is instigating the hike in global tariffs.

Amidst ongoing demands from major powers like France and the U.S., for China to reform its economic strategies, it remains steadfast. Chinese exports have surged in non-U.S. regions, exacerbating competitive pressures. Despite intentions declared by Chinese officials to stimulate domestic demand, changes remain uncertain, signaling elevated global trade complications.

(With inputs from agencies.)