INTERNATIONAL - "China and the UK must adhere to free trade in the face of rampant protectionism around the world" said Liu Xiaoming, China's ambassador to the United Kingdom during a speech in London. This is according to the China Daily today.
Unilateralism is on the rise, protectionism is rampant, populism is spreading, uncertainties and destabilizing factors are increasing, he said.
"Trade protectionism is becoming a weapon in the hands of a certain country to provoke trade disputes that put the global economy at risk", he warned. Liu's comments came days after Liam Fox, the UK's international trade minister confirmed that Prime Minister Teresa May would use the upcoming G7 meeting in Canada to urge US President Donald Trump to reverse tariffs he has introduced on European steel and aluminium, China Daily reported today.
Canada and Mexico were also subjected to the tariffs.
In contrast, China President Xi Jinping, said China and Kazakhstan should enhance the connectiobof their development strategies and boost cooperation in such areas as economy, trade, energy and finance yesterday.
Lothar Hermann, CEO Siemens Greater China, supported international collaboration during a media address earlier this week at the first Belt and Road Initiative Summit held in Beijing to "Connect, Create, Collaborate".
"By connecting muliple stakeholders of BRI, by providing innovative and digital technologies and by working closely together eith our Chinese partners we continue to support successful, open and fair international collaboration" he said.
Siemens has been joining forces with over 100 leading Chinese Engineering, Procurement and Construction (EPC's) in more than 100 countries and regions for more than two decades. Siemens helped China Tianchen Engineering to land the biggest order ever won by a Chinese company in Turkey to build one of the worlds largest soda ash factories. This project promoted Turkish exports and created around 2 000 local jobs.
Furthermore, "Siemens supported China Machinery Engineering Corporation (CMEC) to enter the world's most advanced gas power market by winning the first H-class gas power plant EPC project, Punjab Power Plant Jhang, in Pakistan. The new power plant will be capable of providing an amount of electricity that is equivalant to the total consumption os about four million Pakistani households" said Joe Kaeser, President and CEO of Siemens AG this week, addressing global leaders at the BRI Summit in Beijing this week.
- BUSINESS REPORT