During a forum in Beijing, Wang criticized “the politicization of economic and trade issues, the artificial fragmentation of global markets, and the resorting to trade wars and tariff battles,” implicitly referring to U.S. protectionism.
“The course of history cannot be reversed, and a multipolar world is emerging,” the diplomat asserted, warning against “the frequent withdrawal from agreements, the reversal of commitments, and the enthusiastic formation of blocs and alliances,” actions that he claimed pose “unprecedented challenges” to multilateralism.
These statements come ahead of U.S. President Donald Trump’s arrival in South Korea, where he is scheduled to meet Chinese President Xi Jinping on Thursday during the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju.
The former U.S. President, who returned to power in January 2024, expressed optimism about reaching a “good deal” with China after months of renewed trade tensions between the two largest economies.
On Sunday, U.S. Treasury Secretary Scott Bessent stated that the two leaders are expected to validate a commitment regarding Chinese exports of rare earths and China’s purchase of U.S. soybeans. Chinese International Trade Representative Li Chenggang confirmed that the two countries have reached a “preliminary consensus.” A tariff truce is currently in effect between the two sides, set to expire on November 10.
