China warns America against pressuring partners with trade talks

China told the US to quit using trade as a weapon. Premier Li Qiang made the comments on Wednesday while speaking in Tianjin at the World Economic Forum’s annual meeting, often referred to as “Summer Davos.”

According to CNBC, Li said countries should focus on working together on trade, not turning it into a political or security tool. He made it clear that globalization isn’t going away, saying, “Globalization will not be reversed.”

Li urged world leaders to stick to what he called the “right” direction. He didn’t bring up the ongoing tensions with Washington directly. He also avoided talking about the Israel-Iran situation. But the context of his speech made his stance obvious. 

He described international trade as a way to “reshape the rules and order,” which was a not-so-subtle shot at efforts by countries, especially the US, to dominate how global systems work.

Li highlights global mediation deal, calls China a consumption engine

Li referenced a pact signed last month in Hong Kong by over 30 governments. The deal formed the International Organization for Mediation, which he called an example of using “the wisdom of the East” to solve international disputes. This came across as a way to show that China is pushing a new system for resolving conflicts, one that doesn’t rely on Western institutions.

He also spoke about the state of the Chinese economy, saying new steps will be taken to boost consumer spending. China, he said, will not only remain a global manufacturing base, but also turn into a “mega-sized consumption powerhouse.” He didn’t give specific policies, but the message was about doubling down on domestic demand while keeping China hooked into the global economy.

Louise Loo, lead economist for China at Oxford Economics, said on CNBC’s The China Connection that Li seemed confident. “We still think that there are challenges this year, but I think it’s not as far-fetched as we thought before,” Loo said. She added, “However punitive tariffs are, I think in the near term, it’s quite hard to decouple China from global supply chains.”

Columbia University’s Adam Tooze also weighed in. He called Li’s language about reshaping order “very interesting,” and told CNBC, “What we’re going to see is a pluralization.” Tooze said the focus should be on how systems work, not just on who’s in charge of them.

The event brought together several heads of state, including Singapore’s Prime Minister Lawrence Wong, Vietnam’s Pham Minh Chinh, and Ecuador’s Daniel Noboa Azín. Tech execs like JD.com’s Liu Qiangdong and TCL’s Li Dongsheng were also on the attendee list, showing that China wanted this forum to be about more than just governments—it was about markets too.

In the past week alone, Li met with the leaders of Singapore, Vietnam, New Zealand, Ecuador, and Kyrgyzstan. These back-to-back meetings were reported by Chinese state media, and they showed China is actively strengthening diplomatic ties at a time when its relationship with the US is still locked in tension.

Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites