Chinese Foreign Minister Wang Yi stated today, Monday (27/10), that the world is entering a “multipolar” era and called for an end to trade wars, just days before Chinese President Xi Jinping is set to meet with U.S. President Donald Trump. The two leaders are expected to meet on Thursday in South Korea, aiming to reach an agreement that would end the trade war between the United States and China.
Specifically, during a forum today in Beijing, Wang called for “an end to the politicization of economic and trade issues, the artificial fragmentation of global markets, and the resort to trade wars and tariff battles,” an apparent reference to Washington’s protectionist tendencies.
China: The course of history cannot be reversed
“The frequent withdrawal from agreements and breaking of commitments, while enthusiastically forming blocs and cliques, has exposed multilateralism to unprecedented challenges,” the Chinese minister added, without naming any specific country. “The course of history cannot be reversed. A multipolar world is emerging,” Wang noted.
These statements come as Trump travels to Japan, the second stop of his Asian tour, which will culminate with his meeting with Xi. The U.S. president expressed confidence that during the leaders’ meeting, scheduled on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea, a “good deal” will be reached with China.
U.S. Treasury Secretary Scott Bessent assured yesterday, Sunday, that the two presidents will reach a compromise on rare earths and another sensitive issue – Chinese purchases of American soybeans. From the Chinese side, International Trade spokesperson Li Chenggang confirmed that Beijing and Washington have reached a “preliminary agreement.” Currently, there is a ceasefire in the U.S.-China trade war, which expires on November 10.
