ECONOMYNEXT – Sri Lanka should more firmly safeguard its own legitimate rights and interests and resist the undercurrents of geopolitical and bloc confrontation, as well as the countercurrents of unilateralism and protectionism, Qi Zhenhong, Chinese Ambassador to Sri Lanka said.
In an opinion article shared with Sri Lanka media, Zhenhong urged the island nation to believe that China is a more trustworthy partner.
“Faced with a turbulent world, Sri Lanka should more firmly safeguard its own legitimate rights and interests, believe that China is a more trustworthy partner, follow the historical trend of peace and development, and resist the undercurrents of geopolitical and bloc confrontation, as well as the countercurrents of unilateralism and protectionism,” Zhenhong said.
“The two countries should safeguard peace, pursue development, and achieve shared prosperity, so as to make solid progress in building the China-Sri Lanka community with a shared future in the new era, and bring greater stability and certainty to this turbulent world.”
He criticized President Donald Trump’s reciprocal tariff which, he said, will further widen the gap between rich and poor countries, with less developed countries suffering a greater impact.
“As one of the countries most affected, Sri Lanka’s right to development has been severely undermined, and its already fragile economy will be further strained, with a particularly severe impact on the export sector,” Zhenhong said.
“As Sri Lanka’s economic pillar industry and the second-largest source of foreign exchange earnings, the garment industry has experienced a sharp decline in orders and a reduction in garment export revenue, with export values potentially decreasing by 20% and threatening tens of thousands of jobs in related industries.”
“Previously, garment factories in Sri Lanka had already canceled Sinhalese and Tamil New Year bonuses, triggering labor disputes and leading to widespread factory shutdowns.”
“Other export industries, such as rubber and plastic products, tea, and gems, may also suffer negative impacts due to the tariffs.”
“In addition, the decline in exports will lead to a reduction in Sri Lanka’s foreign exchange earnings, depreciation of the rupee, increased import prices, and exacerbated inflation, affecting its macroeconomic stability and foreign debt repayment capacity, and slowing economic growth.”
He said the United States, disregarding the balance of interests achieved through multilateral trade negotiations globally, and under the guise of so-called “reciprocity” and “fairness,” is using tariff as a weapon to exert maximum pressure for its own selfish gains and subverting the existing international economic and trade order.
“This unilateralism and hegemonic bullying have severely impacted the global economic order and the multilateral trading system, and seriously harmed the interests and well-being of all countries,” he said.
“Ostensibly, this is done in the name of “protecting domestic industries” and “reshaping supply chain security,” but in reality, it continues the traditional approach of politicizing economic and trade issues, bringing unprecedented difficulties and challenges to multilateralism and global economic recovery.” (Colombo/April 28/2025)
