DAVOS, Switzerland – Hong Kong’s Beijing-backed chief executive says she’s “quite worried” that the rules-based system that has governed global trade for decades is under threat.
Speaking Wednesday at the World Economic Forum at the Swiss ski resort of Davos, Carrie Lam said any diminution in the traditional rules could lead to rising political tensions around the world.
She said Hong Kong has prospered “on the basis of free and open trade.”
Worries over the future of the rules governing global trade have been stoked over the past couple of years, certainly since the election of U.S. President Donald Trump. His administration has taken particular umbrage against China and the two have imposed tariffs on each other that has raised concerns of a full-scale trade war.