Experts:safeguard multilateral trade governance system

Added On September 22, 2018

The comments came on Wednesday, at a roundtable discussion sponsored by think tanks from China and Switzerland.

Zhou Xiaochuan, former governor of China's central bank, stressed that China opposes unilateralism and trade protectionism, and hopes to boost investment, loosen trade, as well as establish a more open, balanced, transparent and rules-based multilateral trading system.
SOUNDBITE (CHINESE): ZHOU XIAOCHUAN, Former Chinese Central Bank Governor
“China always hopes to reduce trade friction, improve the global multilateral system, and reduce the uncertainty of the global economy through dialogue, discussion and the exchange of ideas.”
Zhu Guangyao, former Chinese Vice Minister of Finance, pointed out that the spreading of unilateralism will heavily disrupt global supply chains, and threaten the multilateral mechanism, which safeguards the interests of all states.
He also claimed that both China and Europe are staunch defenders of the multilateral trading system, and it's important for both sides to strengthen policy communication and coordination.
The main topic of Wednesday's discussion was "Outlooks on China-EU-U.S. Economic Relations and Multilateral Trading System".
Participants agreed that China and the EU should work together in response to prevailing trade protectionism and unilateralism.