World needs renewed political trust, strengthened cooperation

Amid heightened uncertainties and mounting geopolitical tensions, international political leaders, diplomats and scholars on Wednesday called for renewed political trust and strengthened cooperation, emphasizing that China's economic weight and commitment to free and open trade are essential to stabilizing a fragmented global economy.

They made the remarks while attending the 2025 Imperial Springs International Forum in Guangzhou, the capital of South China's Guangdong province, warning that the world is entering a more volatile economic era shaped by declining political trust and the rise of unilateral measures.

Former Spanish ambassador to China and advisor of Club de Madrid Rafael Dezcallar said political trust has become "an essential component of globalization," and its erosion has elevated security considerations in countries' economic decision-making.

Still, he stressed that globalization "has not disappeared." Deep interdependence endures, he said, pointing to recent economic and trade understandings between China and the United States that suggest "neither side seeks strict decoupling."

Such interdependence continues to serve as a buffer that reduces conflict risks and fosters cooperation, he said. A return to open trade, he added, will be possible "only if we rebuild political trust."

Maria Fernanda Espinosa, president of the 73rd session of the United Nations General Assembly and former foreign minister of Ecuador, described today's global economy as "deeply interconnected, but also more volatile, more unpredictable and more political."

The long-held belief that globalization would naturally generate stability "has been deeply challenged," she noted. Managing today's interdependence, she said, requires intentionally crafted multilateral mechanisms rather than passive reliance on market forces.

On China's role in global trade governance, she called the country a crucial "bridge builder" within the World Trade Organization, capable of linking the interests of developed and developing economies.

Predictability in trade rules, she said, has become "one of the most important global public goods," and reviving the WTO will require rebuilding political trust. China, she added, is "extremely needed" in this process.

Li Cheng, founding director of the Centre on Contemporary China and the World at the University of Hong Kong, focused on the destabilizing impact of US policies, saying unilateral economic pressure has become a major source of global uncertainty.

He said the so-called trade war and tariff war, along with widening export controls, reflect Washington's securitization of economic policy — aimed largely at China's rise in science and technology.

Such efforts, he argued, are unlikely to succeed, in part because China has been promoting inclusive growth, has become the largest trading partner of more than 120 countries, and possesses a vast pool of talent.

Former Canadian prime minister Kim Campbell also criticized US tariff measures, calling them fundamentally misguided.

Imposing tariffs in highly integrated supply chains is a "lose-lose proposition" and "an absolutely bizarre thing to do," she said, adding that such decisions reflect "a lack of understanding of economic and trade policy history."

Campbell also noted strong potential for closer economic engagement between Canada and China, especially as Ottawa seeks to diversify its economy and reduce reliance on Washington.

Former Bolivian president Jorge Quiroga highlighted China's rising importance as a partner for developing nations. South America — abundant in food, energy and mineral resources — now counts China as its leading buyer, creating "great opportunities" to deepen existing free trade agreements and forge new ones.

A world with "more open trade and more open engagement," he said, "is better for everyone." China, he added, is well-positioned to advance cooperation in clean energy, green development and technology.