State councilor: unilaterally initiating trade war wrong prescription

2019-09-25
Xinhua

NEW YORK — Neither scapegoating nor unilaterally initiating a trade war is the right prescription for issues brought about by economic globalization, said Chinese State Councilor and Foreign Minister Wang Yi on Sept 24.

Economic globalization, as the trend of the times, should not and cannot be held back, Wang said in a keynote speech at a dinner co-hosted by the National Committee on US-China Relations, US-China Business Council, US Chamber of Commerce and Council on Foreign Relations.

The free flow of resources enabled by globalization has created enormous wealth, yet it will also lead to uneven development within countries and trade imbalances between them, he said.

Wang said the right approach to tackle the domestic challenge is to deepen reform and improve the distribution system.

He added that issues between nations should be addressed by enhancing global governance through equal dialogue and consultation.