Premier Li Qiang Warns of Deglobalization's Impact on World Economy

BEIJING: China's number two leader, Premier Li Qiang, issued a stark warning on Monday (Dec 9) about the growing risks of deglobalization, as he welcomed the heads of major multilateral financial institutions to Beijing.

In his opening speech at a summit attended by the top leaders of organizations including the International Monetary Fund, the World Trade Organization, and the World Bank, Li emphasized the increasing uncertainty and interference that deglobalization poses to the world economy.

"In the context of weak world economic growth currently, uncertainty ... has further increased, causing major interference to the operation of the world economy," Li told attendees at the Chinese capital's Diaoyutai State Guesthouse.

Li also highlighted the rise in discriminatory trade and investment measures globally since 2020, stating that "the trend of deglobalization is getting worse and worse."