China's Foreign Ministry on Monday slammed the US' "small yard, high fence" strategy, saying such a policy undermines global supply chains and damages the common and long-term interests of all countries and vowing to continue to safeguard the WTO-centered multilateral trading system. 

The comments were made in response to a media question which said this year marks the 30th anniversary of the WTO, and a recent report by US media Forbes warned that if threats of protectionism materialize, not only would the global trade system suffer, but the WTO's dispute settlement mechanism would also face serious challenges. Meanwhile, another New York Times' article discussed the sharp economic and diplomatic costs and concerns among US tech companies that the high fence might shut them out from the Chinese market. 

Foreign Ministry Spokesperson Guo Jiakun underscored the WTO's role as the core of the multilateral trading system. Over the past 30 years, the WTO has provided an open, stable, and predictable institutional environment, ensuring steady and orderly global trade, enhancing economic and trade cooperation among members, promoting the involvement of developing economies in economic globalization, and benefiting from it, Guo stated.

"Free trade is an inevitable requirement for global economic development, with the fundamental goal of achieving mutual benefit and promoting common development. Engaging in protectionism and building 'small yard, high fence' significantly disrupts global supply chains and damages the common and long-term interests of all countries," the spokesperson said.

Guo reiterated China's commitment to uphold the WTO's principles, saying that China will continue to uphold the spirit with which it joined the WTO, working together with the international community to uphold the WTO-centered multilateral trading system, and continuously advance the liberalization and facilitation of global trade and investment for the betterment of the world.

Global Times