\u00abTrade Wars Have No Winners\u00bb<\/span><\/h3>\nThe chief negotiator from Beijing warned that tariffs and trade wars have caused \u00absignificant impacts\u00bb on the global economy.<\/p>\n
\u00abTrade wars have no winners,\u00bb he stated, adding that they \u00abfragment the global economy and disrupt the global distribution of resources.\u00bb <\/p>\n
He highlighted that the tariff tensions recorded over the past year have posed \u00absevere challenges\u00bb for trade, arguing that economic fragmentation could hinder global growth.<\/p>\n
In this context, he referred to the International Monetary Fund (IMF) estimates predicting a reduction in global output by approximately 7% due to these circumstances.<\/p>\n
In his speech, Lifeng emphasized the crucial role the annual meeting could play in international relations, suggesting that \u00abthe wisdom of Davos lies in dialogue, and the future of the world depends on cooperation.\u00bb <\/p>\n
\u00abLet us defend the vision of a community with a shared future for humanity, promote a spirit of dialogue, and enhance openness and cooperation,\u00bb the Chinese official urged, as reported by EFE and CNN.<\/p>\n<\/div>\n