China Urges Open World Economy, Rejects 'Zero-Sum' Trade Claims at Import Expo
Ding Xuexiang, Chinese Vice-Premier, said at the China International Import Expo that Beijing aims to expand global trade 'cake' to balance development, rejecting 'China squeeze' theory as unfounded zero-sum thinking.
Chinese Vice-Premier Ding Xuexiang on 5 November addressed the opening of the ninth China International Import Expo in Shanghai, calling for an open world economy to address global trade imbalances. He said the world is undergoing profound changes amid economic globalisation setbacks, with unbalanced development and severe disruption to international trade order.
Ding argued that trade imbalances must be tackled by expanding the global economic 'cake,' not through zero-sum competition. He noted that China never deliberately pursues a trade surplus, and that its current account surplus fell from 9.9 per cent of GDP in 2007 to 3.7 per cent in 2025, within internationally recognised reasonable levels. He pledged to continue importing more quality goods and services to drive global economic stability.
The vice-premier outlined four approaches to achieving balanced trade. First, sharing the large market by expanding the 'cake.' Second, deepening investment cooperation by integrating into global supply chains. He said China became a manufacturing hub by opening its doors, and has helped developing countries in Southeast Asia and Africa build industrial parks to boost employment and trade. Ding dismissed claims of a 'China squeeze' as unfounded zero-sum thinking.
Third, strengthening innovation to upgrade industries. Ding said China's product competitiveness comes from high R&D investment, not government subsidies, and offered to collaborate on digital economy and green development. Fourth, enhancing mutual trust to break down barriers. He said dialogue and trust, not securitisation or protectionism, can resolve trade frictions, adding that China faces restrictions on importing high-tech products, causing losses for all sides.
Ding concluded that China is willing to consult with all parties to reduce trade costs and address mutual concerns through equal dialogue.