Chinese President Xi Jinping made a forceful argument for protecting global supply chains at the APEC forum in Gyeongju, South Korea. He urged nations to “extend rather than breaking” these vital economic links.
“We must adhere to the principle of joining hands rather than letting go,” Xi said on Friday, just one day after striking a one-year trade deal with US President Donald Trump.
The deal with Trump is a significant step toward stabilizing trade. It involves the US slashing some tariffs and export controls, a key demand from China.
In return, China agreed to buy US soybeans and to pause any new curbs on the export of rare earth minerals. This commitment headed off a major potential escalation from Trump.
The US also agreed to postpone a restrictive technology rule for one year. Xi said the deal should bring “peace of mind” and that “dialogue is always better than confrontation.”
`
Xi Jinping Urges Nations to ‘Extend, Not Break’ Supply Chains
Date:
Picture Credit: www.commons.wikimedia.org