Li from China Calls for Keeping Trade Free of Political and Security Tensions

TIANJIN, China — On Wednesday, Chinese Premier Li Qiang urged nations to work together on trade, despite increasing tariffs and other obstacles.

“Globalization is here to stay,” he stated through an official English translation, emphasizing the need for all parties to avoid politicizing or securitizing trade.

He mentioned that engaging in the global economy is essential for “reshaping rules and order,” urging countries to follow the “right” path.

Li did not directly address specific issues like U.S. trade tensions or the conflict between Israel and Iran. His comments were made during the opening session of the World Economic Forum’s annual meeting in China, commonly referred to as “Summer Davos.”

Adam Tooze, a history professor at Columbia University, described Li’s mention of “reshaping the rules and order” as “very interesting,” indicating that a move towards pluralism can be anticipated.

He pointed out that it is more about procedural aspects than determining who establishes the “order,” as he spoke with CNBC.

In his address, Li highlighted that over 30 countries recently signed a “Convention on the Establishment of the International Organization for Mediation” in Hong Kong. He regarded this as a way to employ “Eastern wisdom in solving global disputes.”

Li also expressed optimism about the Chinese economy during the conference, announcing plans to implement strategies that would position China as a major consumer market in addition to its manufacturing capabilities.

Louise Loo, lead economist for China at Oxford Economics, remarked that Li seemed “very confident in the natural growth momentum of China.”

“Despite challenges ahead this year, the situation seems less daunting than we previously thought,” Loo told CNBC’s Emily Tan during The China Connection program.

“Regardless of the severity of punitive tariffs, it’s quite difficult to separate China from global supply chains in the short term, which means that Chinese exports are likely to stay competitive, thereby supporting growth in the economy,” she concluded.

Attending this year’s forum were high-profile leaders such as Singapore’s Prime Minister Lawrence Wong, Vietnam’s Prime Minister Pham Minh Chinh, and Ecuadorian President Daniel Noboa Azín, according to a forum press release.

Conference attendees included JD.com Founder Liu Qiangdong and TCL Founder Li Dongsheng.

In the past week, Li has met with leaders from Singapore, Vietnam, New Zealand, Ecuador, and Kyrgyzstan, as reported by Chinese state media.

— Report contributed by CNBC’s Victoria Yeo.