The Chinese Ambassador to Nigeria, Yu Dunhai, has explained that China was determined to defend its legitimate interests in the trade war with the United States.
Yu, who made the assertion while addressing a press conference on Friday in Abuja alongside the Minister’s Counsellor in charge of Political Affairs, Zhang Yi and his Business Affairs counterpart Wang Yingqi, also said “appeasment was not a way out.”
Speaking on the US President Donald Trump’s avowed policy of America first, Ambassador Yi said the tariff war was against the rest of the world and signal that America was turning its back against the rest of the world.
“The world has seen that the US has lost its credibility and that it is no longer a city upon a mountain (hill); people have seen the selfishness,” he said.
He explained that 60 to 70 percent of US imports from China were the country’s products manufactured in China due to its cheaper costs of labour and higher return on investments.
He said China was now focused on high quality development with emphasis on technology and consumption to drive its economy going forward.
He said during President Bola Tinubu’s last visit to China, both countries elevated their cooperation to strategic partnership, adding that efforts were on to increase Chinese imports of Nigerian products, including oil.
