OREANDA-NEWS  Currently, the global economy is facing a serious threat of fragmentation into separate trading blocks. Against this background, countries need to prevent the obstruction of the work of global production and logistics chains, said Premier of the State Council of the People's Republic of China Li Qiang. His words are quoted by Prime.

Everyone ultimately loses from the ongoing confrontation in the world. A stable and well-functioning system of global trade and production chains is in the interests of most States. Countries need to make better use of open opportunities for development if they want to accelerate the pace of technological progress and labor productivity, Qiang said during a speech at the China International Supply Chain Expo (CISCE) forum in Beijing.

He also noted the importance of a responsible approach to various risks caused by the growing popularity of protectionism policies. "This requires us to follow the rules, recognize the general trend, pay more attention to improving the quality and productivity of global production and logistics chains," Qiang concluded.

In the first half of November, analysts of the International Monetary Fund (IMF) presented a model of the collapse of the world economy into two non-interacting trading blocs. According to experts' forecast, the first will be headed by the United States and the European Union (EU), and the second by Russia and China. Analysts considered trade restrictions and the struggle for raw materials to be the main reason for the fragmentation of the global system.