The WeChat public account "Chinese Embassy in the UK" reported that on April 27, 2025, Chinese Ambassador to the UK Zheng Ze Guang published a signed article titled "Appeasement Is Not an Option in the Face of Trade Bullying" in the South China Morning Post. Ambassador Zheng pointed out that there are no winners in tariff wars and trade wars. We do not want to fight, nor are we afraid to fight. If we fight, we will see it through to the end; if we negotiate, the door remains open. Appeasement and compromise will only embolden the bully, while firm opposition can make the bully change its ways. We hope the UK stands on the right side of history and on the side of multilateralism and international cooperation.

The translated version of the article is as follows:

After the US government announced the imposition of "reciprocal tariffs" on all trading partners, global markets immediately experienced volatility, with trillions of dollars in market value evaporating. This move severely impacted the world economy, undermined the multilateral trading system, significantly affected efforts by various countries to promote economic growth, reduce living costs, and create jobs, and further increased uncertainty about the development prospects of countries, particularly those in the Global South.

Leaders of multiple countries, economists, and international financial institutions have expressed serious concern and firm opposition to this move by the US. The International Monetary Fund pointed out in its latest World Economic Outlook report released on April 22 that the risk of a US economic recession has risen, and global economic growth will significantly slow down.

The US administration claims that the main reason for imposing tariffs is the "huge and continuous" trade deficit in goods trade with trading partners such as China, believing itself to be at a disadvantage. In fact, the opposite is true. The US has always been the greatest beneficiary of globalization, which brings substantial profits to American multinational corporations and provides consumers with a large number of low-priced goods, supporting the international status of the dollar.

Taking Sino-US trade as an example, although China has a surplus in goods trade with the US, the US maintains a significant surplus in services trade with China. When considering goods trade, services trade, and sales revenue from domestic enterprises' branches in each other's countries, the benefits gained by both sides in bilateral economic and trade exchanges are roughly balanced.

However, these basic facts have been deliberately ignored by the US administration. By wielding the big stick of tariffs, the US is essentially following a logic of tyranny and bullying, attempting to make the entire world pay for the "American Exceptionalism," sacrificing the interests of all countries to maintain its hegemonic position.

In the face of such blatant economic coercion, China has taken decisive countermeasures, not only to safeguard its own legitimate rights and interests but also to defend the multilateral trading system and international fairness and justice.

In recent days, the US has been sending contradictory signals externally. On one hand, it continues to engage in extreme pressure tactics, while on the other hand, it has indicated that it will significantly reduce tariffs on China. Various tricks are merely aimed at reducing its own losses and influencing capital markets.

China's position has always been consistent and clear. There are no winners in tariff wars and trade wars. We do not want to fight, nor are we afraid to fight. If we fight, we will see it through to the end; if we negotiate, the door remains open. At present, there have been no consultations or negotiations between the two sides regarding tariff issues. If the US really wants to solve problems through dialogue and negotiation, it should immediately stop all threats and blackmail. Dialogue and negotiation must be based on equality, respect, and mutual benefit.

In light of the current international backdrop, how is China's economy performing? In the first quarter of this year, China's GDP grew by 5.4%, retail sales of consumer goods increased by 4.6%, fixed asset investment nationwide rose by 4.2%, industrial added value above designated size increased by 6.5%, the added value of the service sector grew by 5.3%, and the total value of goods imports and exports reached 10.3 trillion yuan, with exports achieving a 6.9% year-on-year growth rate. These facts fully demonstrate that the policy "package" of expanding domestic demand, stabilizing foreign investment and foreign trade, developing new quality productivity, and high-level opening-up introduced in recent years by China has been positive and effective, and the Chinese economy possesses strong resilience and internal momentum.

China will unwaveringly expand its opening up, continuing to share development opportunities with the world. China's overall tariff level has dropped to 7.3%. On April 24, three departments including the National Development and Reform Commission jointly issued the Market Access Negative List (2025 Edition), reducing the list items from 117 in the 2022 edition to 106. China will further expand market access and increase support for foreign enterprises.

China has a stable and predictable policy environment, an ultralarge market of more than 1.4 billion people, the most complete industrial system in the world, and a continuously improving business environment that is market-oriented, rule-of-law-based, and internationally competitive. We welcome companies from all countries, including the UK, to invest and start businesses in China, to grow together with China's economy, and to achieve mutually beneficial win-win results. Now is the best time to invest in China!

At this critical moment, the international community should unite to jointly resist unilateralism and trade bullying. Otherwise, what will be affected will not only be the economies of various countries but also the entire global trading system.

Appeasement and compromise will only embolden the bully. Only by firmly opposing can the bully change its ways. The UK has long advocated free and open trade. We hope that the UK will choose to stand on the right side of history and on the side of multilateralism and international cooperation on this major principle issue.

Original source: https://www.toutiao.com/article/7498562314669408779/

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