What is the role of China in International Relations?

Chinese Premier Li Qiang emphasized the importance of communication and exchange to avoid misunderstandings during his speech at the in-person 'Summer Davos' summit in Tianjin.

The three-day event, hosted by the World Economic Forum, focuses on China's role in the world and concerns about global economic cooperation in an increasingly fractious environment.

Supporting Globalization and Economic Cooperation:

Premier Li urged delegates to support globalization and deepen economic cooperation.

He criticized the Western concept of "cutting reliance and de-risking," stating that economic globalization has created an interconnected world economy where countries rely on each other and achieve mutual development.

Li emphasized that blending economies and achieving accomplishments together are positive aspects of globalization.

China's Stance on Multilateralism:

The summit aligns with Beijing's self-branding as a "champion of multilateralism," distinguishing itself from the United States' protectionist trade policies targeting China.

The US is expected to implement an executive order limiting investment in critical fields like AI and advanced semiconductors due to national security concerns.

China aims to differentiate its approach by promoting multilateral cooperation and advocating against a disastrous decoupling between the two superpowers.

Efforts to Mend US-China Relations:

US Treasury Secretary Janet Yellen may visit China next month to meet her Chinese counterpart and address tensions caused by legislative measures restricting investment.

Yellen has stressed that the US aims to safeguard security and values, not gain a competitive advantage over Beijing.

The potential visit follows Secretary of State Antony Blinken's recent trip to China, signaling a willingness for dialogue between the two nations and a desire to avoid further escalation.

Prospects for US-China Engagement:

Both President Joe Biden and his predecessor Donald Trump have sought to limit business ties with Chinese companies linked to the military and impose tariffs on alleged unfair practices.

In recent months, face-to-face meetings between US and Chinese officials have increased, culminating in Blinken's visit and a brief meeting between Biden and President Xi Jinping.

The upcoming Asia Pacific Economic Cooperation summit holds the potential for a meeting between Biden and Xi.

(Courtesy: Al-Jazeera)