China is growing to the “main consumption force”: Prime Minister Lee Qiang

Officials, including Singaporean Prime Minister Lawrence Wong, are among those who attended this week’s meeting in the northern city of Tianjin, known as colloquially as “Summer Davos”.

He told me that the global economy “is subject to deep changes” – a veiled sign of swinging definitions imposed by US President Donald Trump.

Li added: “Foreign measures are increasing dramatically and the intensification of global economic and commercial frictions.”

He said: “The global economy is deeply integrated and no country can grow or flourish alone.”

Li added: “In the times when the global economy faces difficulties, what we need is not the law of the forest, as the weak falls to the strong, but cooperation and mutual success to achieve the result of a victory.”

The second official in Beijing also drew a bullish image of the Chinese economy, the second largest in the world, who was suffering from slowing down and ending in consumer spending.

“The Chinese economy is still steadily growing, providing strong support for the rapid recovery of the global economy,” he said.

He added that Beijing was “intensifying our efforts to implement the strategy of expanding local demand.”

“This strengthens China’s growth to a major consumption strength based on the strong basis of the main manufacturing power,” he told me.

Beijing is looking for about five percent this year – a goal that is seen as an ambition by many economists.

Since late last year, officials have launched a series of steps aimed at strengthening spending, including major interest rate discounts and home encouragement steps.

But the results were varied, just as they add pressure on trade from the American customs tariff, threatening the necessity of the broad manufacturing sector in the country.

“I am first” approach

A speech at the WeF gathering sought to photograph China as a strong defender for an international commercial system based on the bases now being attacked by the Trump administration.

His comments were echoed on the day before President Xi Jinping, to Singapore and Wong during a meeting in Beijing, in which he called on countries to resist “return to hegemony” and fever.

On Wednesday, the other leaders shared a feeling of uncomfortable forcing them to choose between the great powers in a new historical period characterized by increased retail and conflict.

WEF’s Wev and CEO Borj Brendi told a general discussion that governments should be cautious about “abandoning the concept of economic integration.”

He said: “Integration cannot guarantee peace, but I believe that it certainly gives us a better chance of peace than the” I am first “approach.

Vietnamese Prime Minister Fam Minh Cennah hit a similar tendon, noting that the United States is the largest export market in Vietnam and China, the largest source of imports.

When asked about recent commercial frictions, Cennis said that his country needs to follow a “balanced” foreign policy that allows it to be a “friend of all countries”.

He added: “We have a good balance, but we also need to be prepared because things have become recently.”