‘Return of Cold War mentality’: China calls ‘tariff hikes’ a reason behind global economic uncertainty

Chinese Premier Li Qiang warned that the world was returning to a “Cold War mentality” in his speech at the United Nations General Assembly in New York on Friday (Sep 26). Defending multilateralism and free trade, Li criticised the tariffs imposed by the United States without naming it. He also cast China as a defender of the global order, adding that Beijing hopes to work with the rest of the world “to uphold the ideals of the UN.”

“The world has entered a new period of turbulence and transformation,” Li said.

“Unilateralism and (the) Cold War mentality are resurfacing. The international rules and order built over the past 80 years are under serious challenge and the once effective international system is constantly disrupted,” he said, adding that humanity had “once again come to a crossroads.”

Without naming the US or President Donald Trump, he said that “unilateral and protectionist measures” like tariffs and trade barriers have resulted in “global economic doldrums”. Over the last year, Trump has repeatedly used tariffs as a key tool to pressure nations, including China.

“A major cause of the current global economic doldrums is the rise in unilateral and protectionist measures such as tariff hikes and the erection of walls and barriers,” Li said. “We should collaborate more closely to identify and expand convergence of interests, promote universally beneficial and inclusive economic globalisation, and help each other succeed by moving forward in the same direction.”

China “hopes to work with the rest of the world to uphold the ideals of the UN,” Li added.

‘China working actively to promote peace talks’

Li further said that China has always been a “staunch defender of world peace and security” and continue to do so.

“China has been working actively to promote peace talks on hotspot issues such as the Ukraine crisis and the Palestinian-Israeli conflict,” he said. China will continue to play a constructive role in promoting the political settlement of hotspot issues.”