Episode Details

President Xi Jinping reaffirmed on Tuesday China's commitment to expanding opening-up and aligning itself with high-standard international economic and trade rules, while warning that tariff wars, trade wars and technology wars "produce no winners".

Meeting with heads of 10 major international economic organizations in Beijing, the president stressed that countries should see each other's development as opportunities, rather than challenges, and treat each other as partners, rather than rivals.

He elaborated on his vision that humanity is a closely entwined community with a shared future. "Countries are not riding separately in some 190 small boats, but are rather all aboard a giant ship on which their shared destiny hinges."

The president emphasized the importance of building an open world economy through cooperation.

It is important to drive development through innovation, seize the important opportunities presented by the digital economy, artificial intelligence and low-carbon technology, foster new sources of economic growth and support the cross-border flow of knowledge, technology and talent, he said.

He criticized moves such as building a "small yard with high fences", decoupling and the disruption of supply chains, warning that such actions "bring harm to others without benefiting oneself".

Instead of a risk, countries should take economic interdependence as a good thing that enables all to draw on each other's strengths for mutual benefit and win-win results, he pointed out.

Andy Mok, a senior research fellow at the Center for China and Globalization, said that Xi's remarks at the meeting lay bare a stark reality — the zero-sum game, as well as trade and tech battles, fly in the face of history's lessons and basic economic logic. "It's time to move past the destructive illusion of decoupling and invest in the hard but necessary work of forging a lasting, cooperative path forward," he said.

The heads of the 10 economic organizations were in Beijing for the "1+10" Dialogue, a mechanism aimed at enhancing their policy communication with China.

President of the New Development Ban