China's premier says West's economic de-risking 'false proposition'

Chinese Premier Li Qiang slammed efforts in the West to "de-risk" the global economy as a "false proposition" on Tuesday, as he opened a meeting known as the Summer Davos in northern China.

"In the West, some people are hyping up what is called 'cutting reliance and de-risking'," Li told delegates in a wide-ranging speech calling for deepening economic globalisation and cooperation.

"These two concepts... are a false proposition, because the development of economic globalisation is such that the world economy has become a common entity in which you and I are both intermingled," he said.

"The economies of many countries are blended with each other, rely on each other, make accomplishments because of one another, and develop together," he added.

"This is actually a good thing, not a bad thing."

This week's meeting of the World Economic Forum in the port city of Tianjin – known colloquially as the "Summer Davos" – is the first of its kind after a three-year hiatus caused by the Covid pandemic. It will last until Thursday.