We begin with rising trade tension between China and the United States. Chinese State Councilor and Foreign Minister Wang Yi said on Thursday the U.S. has picked a wrong target to slap trade tariffs on. The foreign minister made the statement during a joint press conference with his Russian counterpart Sergey Lavrov in Moscow.

WANG YI CHINESE FOREIGN MINISTER "The U.S. has insisted on releasing its proposed tariff list targeting Chinese commodities. China was compelled to take counter-measures. This is an act of self-defense as a sovereign nation, a defense of the global trade system that is based on rules. The Chinese and U.S. economies are deeply integrated. The U.S. may think it can profit through pushing protectionism. That idea is wrong. China and the U.S., as two world powers, should treat each other on a basis of equality and with respect. By waving a Big Stick of trade sanctions against China, the U.S. has picked a wrong target."

Wang Yi added that global trade growth is still fragile, as the world's economy has just started to recover. He said the U.S. unilaterally initiating trade wars against others is a severe violation of the basic principles and spirit of the WTO. The Chinese foreign minister also called on the international community to protect the hard-won impetus of global economic growth.