Business community must safeguard free trade, Chinese premier tells ‘Summer Davos’ forum
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Chinese Premier urges global business leaders at Summer Davos to defend free trade and reject economic fragmentation.
Premier Li Urges Business Leaders to Defend Free Trade
Business community must safeguard free trade, Chinese premier tells ‘Summer Davos’ forum in Tianjin, Chinese Premier Li Qiang delivered a strong message to global business leaders: uphold free trade, reject protectionism, and avoid politicizing economic exchange. His remarks came amid rising concerns that the resurgence of unilateralism and fragmented trade policies are stifling global growth.
“The new era requires entrepreneurs to play bigger roles, assume greater responsibilities, and add more new dimensions to entrepreneurship,” Li told the summit attendees. “Champion openness and cooperation, uphold economic globalization, oppose decoupling and severing of supply chains, and don’t turn trade into a political or security issue.”
Unilateralism and Trade Fragmentation Raise Concerns
Li’s call to action came as part of broader discussions on the dangers of trade fragmentation and economic nationalism. Economists and global business leaders at the forum expressed shared concerns that escalating trade barriers and decoupling strategies could deal serious blows to investment, supply chains, and consumer confidence worldwide.
“High uncertainty makes firms reluctant to invest and consumers cautious to spend,” warned Paul Gruenwald, global chief economist at S&P Global Ratings. “We’ve already seen closures in some markets as a direct result.”
Participants agreed that the return of unilateral trade practices could trigger long-term instability and slow down the global recovery post-COVID and post-inflation.
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Summer Davos: A Platform for Global Dialogue
Officially known as the Annual Meeting of the New Champions, the Summer Davos forum is hosted by the World Economic Forum (WEF) and brings together business leaders, innovators, and policymakers to discuss global economic trends and innovation. The 2025 edition of the summit, held from June 24 to 26 in Tianjin, has focused on sustainable growth, digital transformation, and inclusive economic cooperation.
The event has become a vital platform for developing economies and emerging market voices, allowing a diversity of perspectives in shaping future economic frameworks.
China’s Push for Economic Globalization
China has repeatedly positioned itself as a proponent of globalization and multilateralism, even as tensions with Western countries continue over technology, trade regulations, and geopolitical influence. Premier Li’s remarks were part of a broader strategy to reinforce China’s role as a stabilizing economic force amid rising protectionist rhetoric from other global powers.
By calling on the private sector to resist politicizing supply chains and to focus on market principles, China signaled its continued commitment to international trade and economic integration.
Private Sector’s Role in Stabilizing Global Economy
Premier Li’s emphasis on the business community’s role reflects a growing belief that private enterprises must take the lead in sustaining open markets, regardless of shifting political climates.
“We hope the business community will take the initiative to oppose economic decoupling,” Li said. “This is not just about market growth; it’s about maintaining the health of the global economy.”
This sentiment was echoed by panelists and economists throughout the summit, who agreed that open trade and predictable regulations are essential for long-term growth and innovation.
Business Leaders Urged to Act for the Greater Good
Beyond economics, Li appealed to the moral responsibility of business leaders. “Do more things for the greater good,” he urged. “This generation of entrepreneurs has a unique opportunity to shape a better, more connected, and stable global economy.”
This vision aligns with WEF’s overarching theme of fostering public-private collaboration to tackle challenges like climate change, digital disruption, and global inequality.
Looking Ahead: Can Free Trade Be Protected?
As the summit wraps up, it leaves behind critical questions: Can the global business community safeguard free trade without full political alignment? Will calls for cooperation translate into concrete actions?
While divisions remain among world powers, the Tianjin forum highlighted one hopeful consensus: preserving economic globalization is in everyone’s interest.
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