Re­gional or­ga­ni­za­tions urge closer co­op­er­a­tion as China-us trade war es­ca­lates

Global Times US Edition - - BIZUPDATE -

Re­gional or­ga­ni­za­tions and ex­perts have called for the pro­mo­tion of re­gional in­te­gra­tion and mul­ti­lat­eral trade co­op­er­a­tion amid the es­ca­lat­ing China-us trade war, not­ing that trade fric­tion is hurt­ing the world econ­omy and the US should re­turn to mul­ti­lat­er­al­ism and global co­op­er­a­tion.

The Central Asia Re­gional Eco­nomic Co­op­er­a­tion (CAREC) In­sti­tute, an in­ter­gov­ern­men­tal or­ga­ni­za­tion based in Urumqi, North­west China’s Xin­jiang Uyghur Au­ton­o­mous Re­gion, or­ga­nized the fourth CAREC Think Tanks De­vel­op­ment Fo­rum. The event has the theme of “Trad­ing for Shared Pros­per­ity.” It’s be­ing held in an an­cient city and start­ing point of the Silk Road, Xi’an, cap­i­tal of North­west China’s Shaanxi Province on Tues­day and Wednesday.

The CAREC In­sti­tute is jointly gov­erned by 11 mem­ber coun­tries in the Central Asia, and along the Silk Road, in­clud­ing China.

The fo­rum brings more than 130 se­nior rep­re­sen­ta­tives of gov­ern­ments, think tanks, aca­demic in­sti­tu­tions and re­search bod­ies from more than 20 coun­tries and in­ter­na­tional and re­gional or­ga­ni­za­tions to dis­cuss re­gional in­te­gra­tion and free trade as a mean of achiev­ing the UN Sustainabl­e De­vel­op­ment Goals.

Syed Sha­keel Shah, di­rec­tor of the CAREC In­sti­tute, told the Global Times that the Us-china trade war is bring­ing chal­lenges to re­gional eco­nomic en­ti­ties. He said that re­gional coun­tries, not only CAREC mem­bers, should im­prove co­op­er­a­tion and en­hance trade in­te­gra­tion.

If eco­nomic growth slows in China, other mem­ber coun­tries would en­counter sig­nif­i­cant eco­nomic down­ward pres­sure, he said.

Masahiro Kawai, di­rec­tor­gen­eral of the Eco­nomic Re­search In­sti­tute for North­east Asia, said at the fo­rum that the Us-china trade war is dis­rupt­ing re­gional and global sup­ply chains.

Kawai said that the US should re­turn to mul­ti­lat­er­al­ism and global co­op­er­a­tion.

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