Chinese Minister Admits that Several Challenges Lie Ahead in the Country’s Economic Development

China’s Commerce Minister Wang Wentao recently addressed the Asia-Pacific Economic Cooperation (APEC) meeting in Detroit, where he highlighted the various challenges and uncertainties facing economic and trade development in the region. Despite the Asia-Pacific being a region with significant growth potential and economic resilience, it continues to face numerous disruptions. Wang met with several leaders to discuss ways to address these challenges, emphasizing China’s willingness to cooperate with others to find solutions.

Wang also shared China’s position on supporting the multilateral trading system and promoting sustainable and inclusive trade development. He urged APEC countries to continue promoting and deepening regional economic integration, while also supporting the least developed countries and helping SMEs share in development opportunities.

China’s economy, like many others, has struggled due to the COVID-19 pandemic. Although the government lifted most restrictions in December and has implemented measures to encourage economic expansion, the country is still working to regain a solid footing. Despite this, Wang remained optimistic about China’s ability to contribute to the region’s economic and trade development.

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