2018年CRI WEF founder: A trade war is a lose-lose situation

 

The current trade dispute between China and the US is a lose-lose situation, said Klaus Schwab, founder¹ and executive chairman of the World Economic Forum² (WEF) at the Summer Davos in Tianjin ahead of the launch of his new book on Tuesday. 

“Globalization has benefited this world tremendously... So, economic exchange has become more difficult. Now we have to make everything to keep a multilateral and open system. Trade wars are certainly, in the end a lose-lose, not a win-win situation,” said Schwab. 

Schwab added that he hopes everybody will recognize that maintaining an open multilateral system is in the interest of not only an individual country, but the world as a whole.

On Monday, US president Donald Trump³ escalated⁴ his trade war with Beijing, imposing⁵ 10 percent tariffs⁶ on about 200 billion US dollars' worth of imports.

China's commerce ministry⁷ said on Tuesday that it has no choice but to retaliate⁸ against the latest US tariffs and hopes the United States would correct its behavior.

Schwab also assessed China's opening up in the past 40 years.

2018 marks the 40th anniversary of China's economic reform and opening up. The WEF has been associated with China almost as long.

Schwab says he has witnessed all of the nation's dramatic changes.

“It's just mind boggling what has been achieved in the last 40 years. I'm sure, particularly with its focus on the 4th industrial revolution, China will continue it's growth, but will be more qualitative⁹ in nature, not just quantitative¹⁰ of course.”

During this three-day Summer Davos, participants will have more in-depth discussions about China's opening up policy and future. Topics will include China's opening up of its financial markets, Scientific Collaborations along the Belt and Road initiative, China's carbon market, and weathering a Trade War, which China is closely involved in.

1 Founder   

n.创始者，缔造者

参考例句：

• He was extolled as the founder of their Florentine school.他被称颂为佛罗伦萨画派的鼻祖。
• According to the old tradition,Romulus was the founder of Rome.按照古老的传说，罗穆卢斯是古罗马的建国者。

2 forum   

n.论坛，讨论会

参考例句：

• They're holding a forum on new ways of teaching history.他们正在举行历史教学讨论会。
• The organisation would provide a forum where problems could be discussed.这个组织将提供一个可以讨论问题的平台。

3 trump   

n.王牌，法宝；v.打出王牌，吹喇叭

参考例句：

• He was never able to trump up the courage to have a showdown.他始终鼓不起勇气摊牌。
• The coach saved his star player for a trump card.教练保留他的明星选手，作为他的王牌。

4 escalated   

v.（使）逐步升级( escalate的过去式和过去分词 )；（使）逐步扩大；（使）更高；（使）更大

参考例句：

• The fighting escalated into a full-scale war. 这场交战逐步扩大为全面战争。
• The demonstration escalated into a pitched battle with the police. 示威逐步升级，演变成了一场同警察的混战。

5 imposing   

adj.使人难忘的，壮丽的，堂皇的，雄伟的

参考例句：

• The fortress is an imposing building.这座城堡是一座宏伟的建筑。
• He has lost his imposing appearance.他已失去堂堂仪表。

6 tariffs   

关税制度； 关税( tariff的名词复数 )； 关税表； （旅馆或饭店等的）收费表； 量刑标准

参考例句：

• British industry was sheltered from foreign competition by protective tariffs. 保护性关税使英国工业免受国际竞争影响。
• The new tariffs have put a stranglehold on trade. 新的关税制对开展贸易极为不利。

7 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

8 retaliate   

v.报复，反击

参考例句：

• He sought every opportunity to retaliate against his enemy.他找机会向他的敌人反击。
• It is strictly forbidden to retaliate against the quality inspectors.严禁对质量检验人员进行打击报复。

9 qualitative   

adj.性质上的，质的，定性的

参考例句：

• There are qualitative differences in the way children and adults think.孩子和成年人的思维方式有质的不同。
• Arms races have a quantitative and a qualitative aspects.军备竞赛具有数量和质量两个方面。

10 quantitative   

adj.数量的，定量的

参考例句：

• He said it was only a quantitative difference.他说这仅仅是数量上的差别。
• We need to do some quantitative analysis of the drugs.我们对药物要进行定量分析。