IN an era marked by rising protectionism and geopolitical tensions, the world faces a stark choice: embrace multilateral cooperation or succumb to unilateral hegemony. The United States’ punitive tariff policies have exposed the negative effect of economic coercion and isolation. Meanwhile, China’s commitment to openness, innovation, and shared prosperity offers a stark contrast, a testament to the enduring vitality of multilateralism and global integration.
Despite external pressures, China’s economy demonstrated robust momentum in the first quarter (Q1) of 2025. Retail sales surged to RMB 48.8 trillion, driven by upgraded consumption patterns and policies such as the home appliance trade-in scheme which has spurred over 100 million new appliance sales. Industrial production and foreign trade have also thrived, with Q1 exports rising 6.9 percent year-on-year, supported by hi-tech sectors like AI-powered home appliances and green energy solutions. The Purchasing Managers’ Index (PMI) for manufacturing reached 50.5, signaling sustained expansion. These figures underscore China’s ability to transform challenges into opportunities through innovation and structural reforms.
People visit the Britain pavilion during the 5th China International Consumer Products Expo (CICPE) in Haikou, south China's Hainan Province, April 13, 2025. (Xinhua/Pu Xiaoxu)
A cornerstone of this resilience is the China International Consumer Products Expo (CICPE) held in mid-April in Hainan, where over 1,700 companies from 71 countries showcased cutting-edge technologies and consumer goods. The expo’s new consumer technology zone highlighted breakthroughs like humanoid robots and brain-machine interfaces, attracting global investors and reinforcing China’s role as a hub for innovation-driven growth.
“I have seen the tremendous innovation and growth taking place within China’s economy in recent years, not least in digital technologies, life sciences and green energy,” said Douglas Alexander, minister of state for trade policy and economic security of the United Kingdom. As this year’s guest country of honor, The United Kingdom doubled its 2024 presence at the expo.
With trade protectionism and unilateralism on the rise, the CICPE showcases the value of global free trade through open cooperation. The expanding attendance of foreign firms demonstrates their confidence in the Chinese market and gives a much-needed vote of confidence to economic globalization.
Meanwhile, China’s creative industries are reshaping global perceptions of “Made in China.” POP MART, a Beijing-based pop-culture brand, redefined luxury collectibles by blending Western art masterpieces with Chinese design. Its blind-box figurines, displayed at Paris’ Louvre Museum, drew long queues of European enthusiasts. Since 2024, POP MART’s overseas sales more than tripled to RMB 5.1 billion, proving that cultural innovation transcends geopolitical headwinds.
This success mirrors Chinese companies’ broader strategy: leveraging intellectual property and digital technologies to elevate their global position. In 2024, China ranked 11th in the Global Innovation Index by the World Intellectual Property Organization, while boasting 26 of the world’s top 100 tech clusters.
An aerial drone photo taken on Aug. 20, 2023 shows a view of Volkswagen (Anhui) Automotive Company Limited in Hefei, east China's Anhui Province. (Xinhua/Guo Chen)
Multinational corporations continue to prioritize China as a growth engine. German firms, in particular, are accelerating investments: Siempelkamp (Qingdao), for example, has expanded its investment three times since entering China in 2014. Meanwhile, Volkswagen Group’s first new NEV-focused joint venture in China, Volkswagen Anhui, has partnered with Chinese company XPeng to develop ultra-fast EV charging networks, with a goal to launch 11 new models by 2026.
The Western “Anything But China” narrative of decoupling from China ignores economic realities. As the World Bank notes, China contributes over 30 percent of global growth, and its integrated supply chains reduce business costs worldwide. Thyssenkrupp CEO Miguel Lopez acknowledged China’s comprehensive industrial chain and supply chain and applauded its good logistics systems. Meanwhile, British pharmaceutical company AstraZeneca’s new US $2.5 billion R&D center in Beijing exemplifies trust in China’s innovation ecosystem.
The contrast between U.S. unilateralism and China’s multilateralism could not be starker. While tariffs and protectionism breed isolation, open market and innovation foster prosperity.
Spanish Prime Minister Pedro Sánchez’s recent visit to Beijing, despite the warning from U.S. Treasury Secretary Scott Bessent, epitomizes the failure of the U.S. coercing allies into decoupling from China. Sánchez reaffirmed Spain’s commitment to deepening ties with China, citing mutual benefits in agriculture, green energy and tech collaboration. His rebuttal to U.S. pressure – “We intend to expand, not cut ties” – reflects Europe’s growing recognition that economic pragmatism outweighs political posturing.
This defiance aligns with broader trends. The EU, a staunch advocate of multilateralism, increasingly views China as a critical and reliable partner. At the 2025 China Development Forum, European firms accounted for about 40 percent of attendees, while negotiations on EV tariffs shifted from confrontation to compromise, proving that dialogue trumps coercion.
Chinese President Xi Jinping underscored the indispensable role of solidarity and concerted global efforts in safeguarding world peace, stability, and shared prosperity during his meeting with Sánchez in Beijing on April 11. In a pointed reaffirmation of China’s multilateral vision, Xi emphasized the significance of deepening China-EU partnerships of peace, growth, reform, and civilization amid evolving global challenges.
While celebrating the 50th anniversary of diplomatic relations between China and the EU, Xi highlighted the need for the two sides to build on past achievements and move the relationship toward strategic stability and mutual success, thus better benefitting the peoples of both sides and the international community at large.
The path to growth lies not in confrontation but in collaboration. China’s economy, buoyed by domestic demand and global partnerships, stands as a beacon of hope in an increasingly uncertain world. The choice could not be clearer: embrace cooperation or risk decline.
“There is no winner in a tariff war,” President Xi declared, a truth validated by the resilience of China’s economy and the futility of isolationist policies. In the battle between hegemony and multilateralism, the world’s future belongs to those who build bridges, not walls.
