China Premier Warns Decoupling Will Lead to ‘Destructive Spiral’
- Li Qiang defends his nation against overcapacity criticisms
- Canada the latest nation to target imports of Chinese EVs
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Chinese Premier Li Qiang warned of negative consequences for the world if nations part ways economically, while also countering criticism that his country’s industrial policy has led to overcapacity.
The “regressive actions of decoupling” would only “drag the world into a destructive spiral where the fierce competition for a larger slice ends up in a diminishing pie,” Li said at the World Economic Forum’s meeting Tuesday in the northeastern city of Dalian. “This is something we do not want to see.”