People's Bank of China Governor Yi Gang attends a news conference in Beijing, China March 3, 2023. REUTERS/Florence LoWASHINGTON, April 14 - China's central bank governor on Friday took a swipe at efforts by Western economies to trade more with allies and rely less on the world's largest goods-exporting country, saying such "friend-shoring" attempts could prevent global supply chain tension from easing.
"The global economy is facing increasing downward pressures," Yi Gang, governor of the People's Bank of China, said in a statement to the International Monetary Fund's steering committee. U.S. Treasury Secretary Janet Yellen has recently encouraged "friend-shoring," or the diversification of supply chains away from China to market-oriented democracies such as India.
The fragmentation of global trade has drawn warnings from international institutions including the IMF.
China is our enemy. China slowly but surely moving towards world domination economically & militarily. Western countries must institute severe tariffs & move towards minimal trade with China before they complete their rapid naval warship expansion & advanced weapons production
Who could’ve foreseen that a long track record of economic coercion and aggressive bullying of countries that refuse to kowtow to CCP demands could possibly lead to this outcome? 🤷♂️
Hi . 4k looked and kept on scrolling. Bye.
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