[UN 27 Reuters]-State Secretary and Foreign Minister Wang Yi gave a general debate speech at the UN General Assembly on the 27th, saying that tariffs and trade friction could lead to a global recession. He expressed his commitment to solving the problem “cool, rational and cooperative”.
He said, “Building a wall doesn't solve the world's challenges. It doesn't work to blame other countries for their problems. We must remember the lessons learned from the Great Depression.”
While avoiding direct reference to US President Trump, “acts that induce tariffs and trade friction disrupt the global industry and supply chain, weakening the multilateral trade system and the order of the global economy and trade. "They may be in recession," he said.
A source said that the Trump administration is considering abolishing Chinese stocks listed on the US stock exchange. The company is also considering measures to limit US investment in China, and is also considering measures to curb US portfolio (financial product) funds flowing into China.
Wang also urged the United Nations to consider mitigating its sanctions on North Korea in light of new developments on the Korean peninsula, with President Trump's policy toward North Korea in mind. He then emphasized that “denuclearization and the realization of a peace mechanism in parallel” and establishing trust step by step is a “real and feasible” way to move forward.
