Story perspectives

China's VP Urges Global Trade Cooperation Amid Protectionism

1/21/2026

Summary

He Lifeng Advocates Trade

At the World Economic Forum on January 20, 2026, He Lifeng, China's Vice Premier, condemned rising protectionism and urged multilateral trade rules to prevent a return to a "law of the jungle."
Lifeng highlighted China's plan to expand its market, especially in services, and urged cooperation over trade wars.
Lifeng acknowledged low household consumption relative to developed economies and reiterated steps to boost domestic demand while inviting foreign businesses to explore opportunities in China.

Summary

Bessent Advances Trade

At Davos on January 20, 2026, U.S. Treasury Secretary Scott Bessent met Chinese Vice-Premier He Lifeng, signaling potential progress toward a summit between U.S. President Donald Trump and President Xi Jinping in April.
Bessent said China fulfilled its commitment to buy U.S. soybeans, with 2026 purchases projected at 25 million tons.
U.S. farmers warn of delayed shipments and rising Chinese purchases from Brazil and Argentina.

History

Historical Context

The World Trade Organization (WTO) was established on January 1, 1995, succeeding the General Agreement on Tariffs and Trade (GATT) to regulate international trade. China joined the WTO in 2001, committing to enhance market access. Ongoing tensions echo pre-WTO trade wars, highlighting the challenges of equitable trade benefits, particularly for developing nations, as global trade dynamics evolve.

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He Lifeng Advocates Trade

At the World Economic Forum on January 20, 2026, He Lifeng, China's Vice Premier, condemned rising protectionism and urged multilateral trade rules to prevent a return to a "law of the jungle."
Lifeng highlighted China's plan to expand its market, especially in services, and urged cooperation over trade wars.
Lifeng acknowledged low household consumption relative to developed economies and reiterated steps to boost domestic demand while inviting foreign businesses to explore opportunities in China.

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