July 5, 2020, 3:58

Xi Calls for Relinquishing Protectionism, Unilateralism for Global Development

Xi Calls for Relinquishing Protectionism, Unilateralism for Global Development

PORT MORESBY (Sputnik) – Chinese leader Xi Jinping on Saturday called for abandoning protectionism and the policy of unilateral actions and preserve multilateral trade system for global development.

“It is necessary to abandon protectionism and the policy of unilateral actions, and to preserve the multilateral trade system with the World Trade Organization lying in its basis; to make economic globalization more open, inclusive, balanced and beneficial for everyone,” Xi said at the APEC Summit in Papua New Guinea.

Xi noted the importance of sharing the existing opportunities on the basis of openness and cooperation between states.

The main task of every government was to improve the life of its people, the Chinese leader emphasized.

“We need to strengthen the rules-based system of global governance if we want to reach stability and development. These rules should be determined by the international community. They should be observed by everyone and implemented without any double standards,” Xi argued.

READ MORE: EU Should Prevent US-China Trade Row From Escalating — German Economy Minister

Xi made his statement amid a major trade row with the United States that erupted as Washington introduced duties on imports from China and Beijing retaliated by imposing its own import duties on US goods. The spat prompted China, which has repeatedly accused the United States of protectionism, to file a complaint about US trade practices with the WTO.

The two-day APEC Summit began earlier on Saturday in Papua New Guinea’s capital Port Moresby.

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