Ahead of a pivotal meeting with Donald Trump, Chinese Premier Li Qiang has spoken out against “unilateralism” at the ASEAN Summit, warning that the global order should not descend into the “law of the jungle.” Speaking in Malaysia, Li’s address served as a stark reminder of international norms just as tensions surrounding trade between the US and China were showing signs of easing. He stressed that economic globalization and a multipolar world are unstoppable trends and warned against a system where “the strong bully the weak.” This statement comes on the heels of positive news: both Washington and Beijing have announced an “initial consensus” on trade matters, with the US confirming that a proposed 100% tariff on Chinese goods is no longer on the table. This diplomatic progress is a welcome development for global markets.
