The Vietnam Prime Minister Nguyen Xuan Phuc, 4th to the right, and Chinese President Xi Jinping, on the left, attend the meeting in the Great Hall of People on April 25, 2019 in Beijing, China.
Pool | Getty Images News | Getty images
Chinese president, Xi Jinping, said there are no winners in a commercial war and warned against protectionism.
The comments are ahead of their state visits to three countries in Southeast Asia from April 14 to 18: Vietnam, Malaysia and Cambodia. Xi’s visit to Vietnam, Monday and will end on Tuesday.
In an exclusive article for Nhan Dan, the official newspaper of the Communist Party of Vietnam, XI, written that “the commercial war and the war war will not produce winners, and protectionism will not lead anywhere.”
He added that Vietnam and China should “resolutely safeguard the multilateral trade system, stable global supply chains and industrialists, and an open and cooperative international environment.”
In 2024, Continental China was the third source of foreign investment in Vietnam, behind Singapore and South Korea.
According to reports, the second largest economy in the world is also the largest foreign investor in Cambodia, and the third largest investor in Malaysia for approved investments.
In the article, he said that it is important that both Vietnam and China “promote a multipolar world equal and orderly and universally beneficial and inclusive economic globalization.”
XI also requested deeper cooperation between the two countries, including business cooperation and the effects of people to the port, saying that “China welcomes the most quality Vietnamese products in the Chinese market and encourages more Chinese companies to invest and do business.”
He added that the two parties should increase cooperation in areas such as industrial and supply chains, as well as “emerging” such as 5G, artificial intelligence and green development.
XI also urged both parties to work with the global south “to defend the common interests of developing countries.”
Vietnam was beaten with one of the highest levels of “reciprocal” tariffs of the United States to 46%, although this has been arrested by the president of the United States, Donald Trump for 90 days. Vietnam imports to the US will be subject to the baseline of 10% of the levies for now.
