Quote of the week

“We should be resolute in rejecting unilateralism. A global trade war should be rejected because there will be no winner. Unilateralism and protectionism are mounting, dealing a severe blow to multilateralism. China will continue to develop itself with its door wide open. We are facing a choice between cooperation and confrontation, between opening up and closed-door policy and between mutual benefit and a beggar-thy-neighbor approach. The international community has again reached a new crossroads. We are meeting here at a time when the multilateral trading system is facing unprecedented challenges. We are concerned by the rise in unilateral measures that are incompatible with World Trade Organization rules and are worried about the impact of these measures, especially on developing countries.” (Chinese President Xi Jinping in a speech at the BRICS Summit in Johannesburg, quoted in the Shanghai Daily, July 26, 2018.)

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