The international community is closely following the development of the trade issue between China and the US. This issue bears on every country in one way or another. It concerns a matter of principle on following international rules, defending the multilateral trade system and promoting economic globalisation.
The unilateral action by the US, especially the adoption of trade restrictive measures, violated the most fundamental principles of the World Trade Organisation (WTO) and amounted to a confrontation of unilateralism against multilateralism and protectionism against free trade. These protectionist measures may seem to benefit some specific industries in specific countries in the short term, but they will always backfire in the long term and in unpredictable ways. In a globalised world, industries in all countries are involved in the global supply chains in different ways. It will turn out that these measures will disrupt the global market and undermine the global trade system. Protectionism is a proven mistake of the past. All should learn from history.
The world is undergoing a new round of major development, great change and profound readjustment. We have a major choice to make between openness and isolation, and between progress and retrogression. In a world aspiring for peace and development, the Cold War and zero-sum mentality looks even more out of place. Only peaceful development and co-operation can bring win-win or all-win results. China does not want a trade war, nor will it initiate one. But if provoked, it will take all necessary measures to defend its rights and interests.
China is a beneficiary and a staunch supporter of the current international system underpinned by the purposes and principles of the UN Charter, promotes trade and investment liberalisation and facilitation, and safeguards the multilateral trade system.
