At the Summer Davos in Tianjin, the event's Founder and Chairman Klaus Schwab called the current trade dispute between China and the US a lose-lose situation. He says this ahead of launching his new book at a press conference on Wednesday.  

KLAUS SCHWAB, FOUNDER AND CHAIRMAN WORLD ECONOMIC FORUM "Economic exchange has become much more difficult. Now we have to make everything to keep a multilateral and open system. A trade war will be a lose-lose, not a win-win situation, so I hope everybody will recognize that maintaining an open multilateral system is for the interest not only for an individual country, but for the world as a whole."