As countries become increasingly integrated and interconnected against the backdrop of economic globalization, their industrial and financial systems have closely linked to each other. The rising trade protectionism, friction and policy uncertainties have begun to dampen global business confidence and resulted in increased financial market volatility. Investment and trade as well as economic growth have also been dragged.
In the medium and long term, trade protectionism could also disrupt global production chain, supply chain and value chain, hampering technological innovation, and ultimately suppress growth potential. Therefore, continued efforts are needed to strengthen macroeconomic policy coordination, oppose all forms of trade and investment protectionism, and jointly promote global investment and trade liberalization.