Chinese Finance Minister Lan O'fan
Chinese Finance Minister Lan O'fan says the trade war between the USA and China poses great risk to the global economy because the two countries account for 45% of global GDP and 20% of global trade.
He also stressed that China will fight to the end if it is a war, while declaring that his government is willing to talk if the USA removes the unilateral 145 per cent tariff slapped on Chinese exports to that country; but US president Donald Trump has maintained that the tariffs will remain.
Lan Fo'an, speaking at an Asian Development Bank (ADB) meeting in Milan that began on Sunday, said the risks were the result of "a certain country (that) has launched tariff wars and trade wars".
He added that the current international situation is "becoming more turbulent and chaotic, unilateralism and protectionism are on the rise."
In contrast, he urged ADB members to uphold the rules of multilateral institutions.
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