China Economic Times: (Zhao Zhongxiu) Respond to protectionism with openness and inclusiveness and inject certainty into w88 live casino

(Source: China Economic Times April 28, 2025)

The meeting of the Political Bureau of the CPC Central Committee held recently pointed out that we should coordinate domestic economic work and international economic and trade struggles, unswervingly do our own business well, unswervingly expand high-level opening up, focus on stabilizing employment, enterprises, markets, and expectations, and respond to the uncertainty of sharp changes in the external environment with the certainty of high-quality development.

At present, based on the implementation of the latest tariff measures in the United States, w88 live casino trade tensions have escalated significantly, and tariff wars and trade wars have continued to escalate, seriously damaging the rules-based multilateral trading system and international economic and trade order, causing serious disturbances to the stability of w88 live casino trade and industrial chains and supply chains, leading to the intensification of fragmentation of the international economic and trade order. Against this background, the momentum of w88 live casino trade growth is obviously insufficient, and trade uncertainty has increased significantly.

Tariff Game Impact: Disrupting the w88 live casino Economic and Trade Scheme

The trade war uses tariffs as the main means, which not only disrupts the w88 live casino supply chain and industrial chain layout, weakens the w88 live casino and China's economic growth momentum, but also has an impact on the multilateral economic and trade order.

First, the wave of trade protectionism triggered by the tariff war has disrupted w88 live casino commodity flow, exacerbated the distortion of w88 live casino supply chains and industrial chains, and seriously damaged the efficiency of factor allocation.High tariffs and policy uncertainties have put the original w88 live casino industrial chain and supply chain at risk of reconstruction. Multinational companies have reassessed the supply chain layout and may "friendly shore outsourcing" or "near-shore outsourcing" the production lines, making the w88 live casino value chain tend to be short-chain and regionalized. The supply of key components and raw materials may be delayed or shortened, resulting in a regression in the integration of the w88 live casino value chain. In the future, if the decoupling of Sino-US trade further deepens and is accompanied by the increase in US tariffs on other countries, under the new tariff structure, w88 live casino trade flows and supply chains will be readjusted, and the industrial focus of Chinese related companies will shift to other markets and partners.

Secondly, the tariff war has brought an impact on w88 live casino economic growth, undermining financial stability and weakening the momentum of economic growth.The International Monetary Fund (IMF) clearly pointed out that the w88 live casino tariff war has led to a shrinking trade activity, the w88 live casino GDP growth rate expectations have been significantly lowered, and the tariff standoff has put significant pressure on the prospects of w88 live casino economic growth. Trade protectionist measures have caused tariff barriers to rise frequently, and the import costs of various countries have increased, which will eventually be passed on to consumers and manufacturers, exacerbating w88 live casino inflationary pressure and further suppressing the expansion of the real economy.

Third, tariff wars and unilateralist tendencies are undermining the multilateral trading system with the World Trade Organization as the core. The foundation of the multilateral trading system that has been operating for nearly 80 years after the war has been severely damaged, and the process of globalization has regressed.The damage to the multilateral trading system is directly reflected in the decline in the level of global integration, the risk of regression in global industrial cooperation and technological exchanges, the mutual trust and constraint mechanism between members has been weakened, and world trade is shifting from a "rules-based" order to a more casual and politically-led "negotiation and transaction" model. Such behaviors like the United States that at the expense of other countries, forcing trading partners to "decouple and break chains" in tariff negotiations and try to break the interdependence pattern of w88 live casino will undoubtedly increase the costs of its comparative advantageous industries and will eventually backfire itself.

Led in China: Systematic response to economic disturbances　

In the context of the intensified external shocks and the increasingly fierce international economic and trade struggles, responding to the impact of trade wars and tariff games, taking multiple measures to do a solid job in economic work, stabilizing the basic domestic economic situation, and responding to the uncertainty of sharp changes in the external environment with the certainty of high-quality development has become the top priority of current economic work. Only by unswervingly expanding high-level opening up to the outside world, coordinating the domestic and international situations, enhancing the endogenous growth momentum, and consolidating the resilience of the industrial chain, can we remain invincible in the complex and changeable international environment.

First, deepen the strategic basis of domestic demand and build a solid barrier to economic resilience.Faced with disturbances from foreign demand, China must give full play to its super-large-scale market advantages and regard expanding domestic demand as a long-term strategy to stabilize the economy. Economic data for the first quarter of 2025 released by the National Bureau of Statistics showed that China's GDP grew by 5.4% year-on-year.

Second, deepen high-level opening up and integrate into the w88 live casino market.China will firmly promote higher-level opening up and actively respond to the challenges brought by protectionism. Further improve foreign trade and foreign investment policies, stabilize the basic foreign trade, and actively expand the network of emerging markets and free trade partners.

Third, strengthen innovation-driven development and optimize the industrial chain and supply chain system.Although China is facing short-term challenges, China's strategy has accelerated its transformation to innovation-driven, regional integration and market diversification, and innovation-driven has become an important engine for China's economic growth. The meeting of the Political Bureau of the CPC Central Committee emphasized that new quality productivity should be cultivated and strengthened, and a number of emerging pillar industries should be created.

Fourth, take multiple measures to help enterprises and further stabilize the international market.For enterprises that are more affected by tariffs, implementing tax and fee reduction policies and increasing the job stability refund ratio of unemployment insurance funds can not only reduce enterprises and operating costs, but also effectively enhance enterprises' operating confidence and expectations, improve their ability to deal with external risks, and accelerate the integration of domestic and foreign trade through practical policies. Accelerate the promotion of enterprises to "go w88 live casino", strengthen the construction of overseas investment service systems, and help enterprises expand the international market more effectively.

Practice multilateralism: w88 live casino collaboration stabilizes the economy

Tariff wars and trade wars not only impact global trade stability, but also threaten the long-term growth prospects of w88 live casino. China actively safeguards and defends international economic and trade rules and the multilateral trading system, unites all countries, safeguards its legitimate rights and interests, and jointly promotes global economic stability and growth.

First, firmly uphold w88 live casino trade rules, advocate multilateralism, and oppose unilateral bullying.China adheres to the principle of mutual benefit and win-win economic and trade cooperation and opposes "side-selected website" transactions at the expense of the interests of either party. Defend international fairness and justice, advocate that all countries focus on common interests and expand common markets through cooperation.

Second, actively promote international macroeconomic policy coordination and participate in the development of the w88 live casino economic governance system.Coordination and cooperation of macro policies is crucial. Through the "combination punch" of macro policies, we can jointly deal with risks and ensure the stable operation of the international economic system. Maintain flexibility in macro policies and take substantive actions to promote international cooperation.

Third, vigorously promote multilateral cooperation and resist the separatist effect brought about by trade frictions.China promotes the free flow of w88 live casino goods, technology, services and capital through bilateral investment agreements and multilateral trade negotiations, and promotes reform of the multilateral trading system. Actively promote the construction of South-South cooperation and regional partnerships, and work with all parties to promote the expansion of opening up of free trade zones such as the Regional Comprehensive Economic Partnership Agreement (RCEP), the Trans-Pacific Partnership Agreement (CPTPP), and other free trade zones, and build an open world economy.

Fourth, continue to promote the internationalization of the RMB in the field of monetary and finance, and build a diversified and stable international monetary system.In order to improve its ability to resist w88 live casino financial risks, China continues to promote the RMB to participate more in international trade and investment settlement. Steadily promote the inclusion of the RMB in the Special Drawing Rights (SDR) currency basket, sign currency swap agreements with many countries, provide stable international financial channel support, and reshape the w88 live casino monetary system pattern.

At present, global trade frictions are constantly escalating, bringing major challenges to the world economy. The key to stabilizing w88 live casino and promoting growth lies in adhering to openness, inclusiveness and multilateral cooperation.

(The author is the president of the University of International Economics and Trade)

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