Chinese Premier Li Qiang emphasized on Wednesday that the landscape of international trade and the global economy is undergoing significant changes. His remarks were delivered during the opening plenary session of the 16th Annual Meeting of the New Champions, also referred to as the Summer Davos, held in Tianjin, China.

During his address, Li pointed out that the global economic and trade system is experiencing an increase in diversity, particularly as countries in the Global South see rapid growth. He highlighted that although traditional trade has been slowing, emerging markets are defying the odds with accelerated growth.

Li also identified the impact these shifts are having on global institutions and the rise of regional collaborations. He noted the current volatility that has led to declines in cross-border investment, signaling increased risks associated with fragmented production and supply chains.

The ongoing disruptions in these areas signal a critical need for countries to adapt their trade strategies in response to these evolving global dynamics.

Overall, the address by Premier Li Qiang delineated a complex picture of global trade marked by uncertainty yet filled with opportunities for emerging markets.