Chinese Vice Premier Ding Xuexiang warned against protectionism and trade wars at the World Economic Forum in Davos, stating that such actions have no winners. Ding highlighted China's economic challenges and its efforts to shift away from real estate as a growth driver towards high-end technology. He emphasized the importance of open cooperation and global coordination on AI governance, fearing a 'relapse into confrontation' if countries continue pursuing a 'reckless competition' in AI development.
"Protectionism leads no where. trade war has no winners," Ding said Tuesday, according to an official English translation. He was speaking at the World Economic Forum in Davos, Switzerland.At the time, Xi had said that"pursuing protectionism is just like locking one's self in a dark room. Wind and rain might be kept outside but so are light and air."
"If we wanted to make a deal with TikTok, and it was a good deal, and China wouldn't approve it, then I think ultimately they'd approve it, because we'd put tariffs on China," Trump said."I'm not saying I would, but you certainly could do that."call on FridayIn his speech on Tuesday, Ding attributed China's economic challenges to the external environment and to"temporary pains brought by our own economic restructuring.
Under the administration of former President Joe Biden, the U.S. had said it was in competition with China and imposed sweeping restrictions that prevent Chinese companies from buying high-end semiconductors used for training artificial intelligence systems."
TRADE WARS PROTECTIONISM AI REGULATION CHINA's ECONOMY GLOBAL GOVERNANCE
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