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Chinese Foreign Minister Wang Yi emphasized that excluding the world’s second-largest economy from global trade is not feasible. The European Commission has expressed its intent to reduce the EU’s reliance on China’s subsidized supply chains for various products like electric cars, batteries, and trains to minimize risk.
Speaking at the Munich Security Conference, China’s foreign minister emphasized the folly of attempting to exclude China from global trade under the pretext of mitigating dependency, warning against the potential for a significant historical error. Germany, as the host of the conference, aims to reduce its reliance on trade with a more assertive China by diversifying its sources of key goods, a strategy termed “de-risking.” This aligns with the approach of other industrialized nations within the Group of Seven, which emphasizes that their intent is not to undermine China or impede its progress. Instead, they seek to maintain a balance in global trade dynamics while ensuring their economic security.
He likened the global economy to an expansive ocean, asserting that efforts to fragment it would be futile, emphasizing the irreversible trajectory towards economic globalization. Additionally, Wang held productive meetings on the sidelines with Antony Blinken, describing their exchange as forthright and beneficial. He also engaged with other key figures including David Cameron, Stéphane Séjournet, and Josep Borrell, underscoring China’s commitment to diplomatic dialogue and engagement on a multilateral level.
