[UNCTAD] Countries wish to reduce reliance on US and China

 Written by Yonhap News Agency   

    During the start of the conference, delegate countries has stated that their profit was reduced due to the fallout.

    Due to not many countries delegate speaking, a delegate propose a unmoderated caucus.

    Which summarizes to the following topic:

  1. Trade opportunities with different countries depend less on China and the US.
  2. Aid countries who was severely affected by the US and China Trade China
  3. Strengthen supply chain during covid 19 to depend less on China and the US
  4. Ask countries to have time limits to loosen Trade Protection Policy
    Generally speaking, the delegate representing Ireland wishes to explore more manufacturing and supply chains. Where delegate representing China proceed to explain how the deal made with the US in 2019 has improved imports between both countries and improved economy.

    The delegate representing Japan suggested to create framework, and strongly expresses wishes for everything to return to normal. Not to have any bias towards any countries either. Following which, The delegate representing Ireland proposed a moderated Cause which was responded to by a few different countries. The topic is strengthening the supply chain, while reducing reliance on the US and China.

    The delegate representing Irelan accepted the proposal Thailand’s Delegate offered. Thailand’s Delegate offer is manpower to achieve manufacturing. The delegate representing India proposes to have the US and China to hold less power over the trade market, to ensure they don’t hold too much power to cause another Trade War. India also wishes countries to consider diversifying their Trade Supply to Vietnam or India.

    The delegate representing Thailand expresses wishes to extend hand to developing nations, to serve them as a substitute China. Claiming the US and China are the first or second mode to ensure relations does not affect developing countries.

    The delegate representing Russia claims that although China is one of his biggest importers, he wishes to have diversity with other countries, wanting to accept Thailand's offer while maintaining relations with both countries.

    The delegate representing The United Kingdom claims to be at the mercy of both the United States and China. Wanting to forge new relationships with other countries, stating firmly, “Relations with China will go down the drain.” The delegate representing China stated, “Maintain good relationship with the US and China.” The delegate representing Sweden express wishes to reduce relying on China but still maintain relations. Expressing wishes to forge relation with Japan or Ireland. 

    After the Moderated Cause, going into general speaking.

    The delegate representing Ukraina agrees on the importance of not relaying on certain countries, expressing wishes to cooperate with developing countries. Strongly expressing reliance on Us and China. The delegate representing Egypt wishes to focus on trading with it’s raw materials.

    The delegate representing India expresses that it does not share any particular market, so it is reaching out to look for new trading partners who wish to invest in the India Trade Market.

    The delegate representing New Zealand raised a point in switching suppliers. Stating it’s disadvantages and explaining it further. The delegate of New Zealand also looks forward in funding developing countries.

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