ECONOMYNEXT – Sri Lanka ought to extra firmly safeguard its personal reliable rights and pursuits and resist the undercurrents of geopolitical and bloc confrontation, in addition to the countercurrents of unilateralism and protectionism, Qi Zhenhong, Chinese language Ambassador to Sri Lanka mentioned.
In an opinion article shared with Sri Lanka media, Zhenhong urged the island nation to imagine that China is a extra reliable companion.
“Confronted with a turbulent world, Sri Lanka ought to extra firmly safeguard its personal reliable rights and pursuits, imagine that China is a extra reliable companion, comply with the historic development of peace and improvement, and resist the undercurrents of geopolitical and bloc confrontation, in addition to the countercurrents of unilateralism and protectionism,” Zhenhong mentioned.
“The 2 international locations ought to safeguard peace, pursue improvement, and obtain shared prosperity, in order to make stable progress in constructing the China-Sri Lanka group with a shared future within the new period, and convey higher stability and certainty to this turbulent world.”
He criticized President Donald Trump’s reciprocal tariff which, he mentioned, will additional widen the hole between wealthy and poor international locations, with much less developed international locations struggling a higher influence.
“As one of many international locations most affected, Sri Lanka’s proper to improvement has been severely undermined, and its already fragile financial system shall be additional strained, with a very extreme influence on the export sector,” Zhenhong mentioned.
“As Sri Lanka’s financial pillar business and the second-largest supply of overseas trade earnings, the garment business has skilled a pointy decline in orders and a discount in garment export income, with export values doubtlessly lowering by 20% and threatening tens of hundreds of jobs in associated industries.”
“Beforehand, garment factories in Sri Lanka had already canceled Sinhalese and Tamil New 12 months bonuses, triggering labor disputes and resulting in widespread manufacturing unit shutdowns.”
“Different export industries, corresponding to rubber and plastic merchandise, tea, and gems, may undergo destructive impacts because of the tariffs.”
“As well as, the decline in exports will result in a discount in Sri Lanka’s overseas trade earnings, depreciation of the rupee, elevated import costs, and exacerbated inflation, affecting its macroeconomic stability and overseas debt reimbursement capability, and slowing financial development.”
He mentioned the US, disregarding the stability of pursuits achieved via multilateral commerce negotiations globally, and beneath the guise of so-called “reciprocity” and “equity,” is utilizing tariff as a weapon to exert most stress for its personal egocentric good points and subverting the prevailing worldwide financial and commerce order.
“This unilateralism and hegemonic bullying have severely impacted the worldwide financial order and the multilateral buying and selling system, and critically harmed the pursuits and well-being of all international locations,” he mentioned.
“Ostensibly, that is achieved within the title of “defending home industries” and “reshaping provide chain safety,” however in actuality, it continues the normal strategy of politicizing financial and commerce points, bringing unprecedented difficulties and challenges to multilateralism and world financial restoration.” (Colombo/April 28/2025)
