Business community must safeguard free trade, Chinese premier tells 'Summer Davos' forum

As the 2025 Summer Davos forum in Tianjin concluded its second day, attendees at the three-day summit appeared to agree on one thing: the return of unilateralism is bad for business.  

China’s Premier Li Qiang called on the business leaders to safeguard free trade and keep politics out of the marketplace:  

"The new era requires entrepreneurs to play bigger roles, assume greater responsibilities and add more new dimensions to entrepreneurship. I encourage you to do more things for the greater good. I hope you will always follow the laws of the market, do what is right, champion openness and cooperation, uphold economic globalization, oppose decoupling and severing of supply chains and not to turn trade into a political or security issue." 

Li's call was echoed at another session, where many economists expressed concerns that global fragmentation, if not reined in, could cause further shocks across the world, and risks damaging every entity from companies to individuals. 

"If you've have got a high level of uncertainty, firms are reluctant to invest, and consumers are reluctant to spend, we have seen some closures [on the market]," said Paul Gruenwald, global chief economist for leading financial services firm S and P Global Ratings. 

Officially known as the Annual Meeting of the New Champions, the summit, organised by the World Economic Forum, brings together thought and business leaders from around the world to discuss some of the most pressing global challenges.  The event runs from 24-26 June in Tianjin, China.