Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
An important disclaimer is at the bottom of this article.
Source: People's Republic of China – State Council News
In an article published on the China Daily website, Stephen Ndegwa, executive director of the Kenyan think tank South-South Dialogue, noted that in 2025, the global economy was struggling to move forward, and its structure had undergone profound changes. In this volatile environment, China, thanks to its consistent policies focused on openness and development, has become an important stabilizing force for the global economy, becoming a reliable trading partner for many developing countries and providing them with opportunities for growth.
The article states that in April 2025, the US government announced the introduction of so-called "reciprocal tariffs" on imported goods, bringing the effective level of US tariffs to levels unseen in a century. This plunged global trade relations into their most confrontational phase in decades, leading to the accelerated fragmentation of markets, supply chains, and international institutions. The key question facing the global economy is no longer whether fragmentation is occurring, but whether stability can be maintained within it.
In the US itself, the negative consequences of this protectionist policy are becoming increasingly apparent. High tariffs have driven up production costs for American manufacturers and consumer prices. Companies dependent on imported intermediate goods have faced shrinking margins and disruptions to their planning cycles. Investment decisions have been delayed due to difficulties assessing regulatory risks, and financial markets have repeatedly reacted to tariff announcements with volatility. Protectionism has not only failed to protect the US economy, but has also complicated inflation management and weakened the confidence needed for economic growth.
The impact of high US tariffs on the global economy has been even more profound. Trade volumes have declined, businesses have become more cautious in their cross-border investments, and supply chains have shifted from efficiency to risk mitigation. Developing economies, which initially relied on integration into global production and service networks to achieve modernization, have been hit the hardest, and their opportunities have now been curtailed.
The article emphasizes that as the global economy fragments, China's stabilizing role is becoming increasingly important. Over the past year, China has continued to emphasize development and external cooperation as its core policy priorities, demonstrating continuity and predictability that contrasts sharply with the instability experienced in other regions. Despite declining global demand, China has maintained its position as a key driver of trade, investment, and industrial activity, providing reliable support to numerous partners, particularly countries in the Global South.
The article points out that even more noteworthy is China's positive attitude toward globalization itself. During a period when so-called debates about "decoupling" and "risk mitigation" were particularly heated, China consistently declared its support for inclusive economic globalization and the multilateral trading system. This position has resonated with countries in the Global South. By promoting cooperation focused on openness, connectivity, and development, China positions itself as the defender of a more balanced and inclusive global economic order, thereby preventing further global fragmentation.
Moreover, the transformation of China's own economy has further enhanced this positive effect. Over the past year, China has accelerated its transition to high-value-added growth, achieving significant progress in green technologies, digital industries, and advanced manufacturing. The impact of China's economic transformation extends far beyond China. As Chinese companies move up the value chain, they create space for emerging economies, allowing them to integrate into relevant industries, regional supply chains, and downstream markets. This transformation does not displace partners; on the contrary, it deepens South-South cooperation, strengthening the prospects for shared growth.
In conclusion, the author emphasizes that in 2026, global growth will depend on whether major economies choose confrontation or coordination, exclusion or inclusiveness. In the face of rising protectionism, China, as a stabilizing force in the global economy, will continue to ensure viable, shared, and sustainable global growth.
Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.