A trade war can bring new world depression: Chinese Foreign Minister

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State Councilor and Chinese Foreign Minister Wang Zhi said at the annual General Assembly of the United Nations that lifting the wall will not solve global challenges and blame others for their own problems. Education from the Great Depression should not be forgotten.

Wang Zhi made the remarks at a General Assembly session on Friday. China’s top diplomat said tariffs and trade disputes could plunge the world into depression and Beijing was “committed to resolving those conflicts in a calm, logical and cooperative manner”.

Referring to the US President Donald Trump’s direct mention of the United States starting a vicious trade war six months ago, Wang Zhi said that the provocation of tariffs and trade disrupts global industry and supply chains and undermined the multilateral trade and commerce of the global economy. He added that these disputes could lead to a global depression.

A high-level meeting is expected in Washington between the world’s two economic powers in the first half of October.

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