Chinese President Xi Jinping has vowed to shake the global economy with widespread epidemics

China will import $22 trillion ($16.8 trillion) worth of goods over the next decade, and despite the global coronavirus epidemic, the country is accelerating its opening process, Chinese President Xi Jinping said on Wednesday.

 

Chinese President Xi Jinping has vowed to shake the global economy with widespread epidemics

Speaking via video message at the opening of China's International Import Expo or annual import exhibition in Shanghai on November 5-10, he said the world should not allow unilateralism and protectionism to weaken the international order. Should give

 

"We must take a constructive stance to reform the system of global economic governance and promote the open world economy," he said in a video message.

 

"With a population of 1.4 billion and a middle-income group of over 400 million, China is the world's largest market with the largest potential. China expects it to reach $ 22 trillion over the next 10 years. Will import goods. "

 

After emerging in Wuhan, the central city of Wuhan, last year and controlling the epidemic on a large scale, China is poised to become the only major developing economy this year.

 

This year it chose to continue its annual import fair, which was personally held’ during the outbreak of an unusual trade program, despite strict capacity limits and health restrictions. The CIIE was first held’ in 2018, when the trade war between China and the United States was intensifying.

 

Analysts say the fair indicates that the country is open to business, although some, if any, are expected to be attended’ by foreign business and political leaders in person. Part of the reason will be in Covid 19

 

Other speakers who delivered video messages at the opening ceremony included Serbian President Aleksandra Vic and World Health Organization Director-General Tedros Adhanom Ghebreyesus.

 

Although the exhibition focuses on buying foreign goods, critics say that China's export-dominated trade practices, such as the protection of weak intellectual property and the lack of a playground for foreign trade in China, are structural issues. There is very little to solve.

 

Xi said China would reduce its list of limited goods and technology imports, treat all companies registered in China equally and sign high-quality trade agreements with other countries.

 

His $22 trillion pledge has been compared to the target he announced in 2018, when he said that China is expected to receive 30 30 trillion worth of goods and 10 1 trillion over the next 15 years. Will import services.

 

He did not set a goal for last year's festival, which preceded the outbreak of the coronavirus, but Assistant Commerce Minister Ren Hongbin said China was confident of fulfilling its 2018 CIIE commitments this year.

 

China's 2019 goods imports fell 2.8 percent to  2.08 trillion as economic growth hit a 30-year low. That compares with a 15.8% increase in imports in 2018 to 2.14 trillion.

 

In his speech, Xi did not address China's growing difficult relationship with the United States, especially with President Donald Trump, who has lifted sanctions against Beijing or the country's presidential election.

 

The US presidential election, in which Trump's Democratic rivals are running against Biden, hung in the balance on Wednesday and has so far come close to the polls.

 

However, XI said the countries should not "throw punches" at each other.


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