TIANJIN, China: inese Premier Li Keqiang railed against “unilateralism” on Wednesday in a veiled allusion to the trade fight with the United States, and threw his weight behind further opening of the world’s second-largest economy. “It is essential that we uphold the basic principles of multilateralism and free trade,” Li said in his speech at the “summer Davos.”“For any existing problems they need to be worked out through consultation,” Li said, adding that “unilateralism” does not offer solutions. Once the latest measures are imposed next week, Washington will have placed levies on around half its imports from China. Still, he acknowledged China faced problems, like infrastructure investment levels falling to record lows and external trade friction. While Beijing has long proclaimed itself the pillar of globalization and free trade, foreign companies operating in China say such lofty words are far from reality.

Source: Manila Times September 19, 2018 16:30 UTC