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As a rising developing country, China will continue to make contributions to globalization and free trade. Meantime, the nation should also build a more balanced trade structure by relying less on exports to the US and increasing exports to member countries of the Association of Southeast Asian Nations, as well as countries and regions involved in the Belt and Road Initiative.

As Videgaray briefed Wang on the recently signed United States-Mexico-Canada Agreement, Wang said trade pacts should not be used to restrict members' legitimate rights and interests, and still less to practice exclusionism.

As an effort to showcase the 2020 Games as "reconstruction Olympics," 30 percent of the aluminum used in the torch came from material recycled from temporary housing in the devastated northeastern Japanese prefectures in the 2011 earthquake, tsunami and nuclear disaster.

As both sides have similar standpoints and objectives in combating climate change, China hopes the EU will use caution when launching the trade remedy investigation and push forward green technology cooperation between industries, Wang said.

As WTO members discuss all this, they will also have to deal with the threat to the dispute settlement system of the WTO. The 164 economies which make up the WTO’s membership account for 98 percent of global trade — and all of this is underpinned by the WTO's dispute settlement system. This is the mechanism through which members hold each other to account for perceived infractions and which prevents trade disputes from escalating into much more serious confrontations. As such, it is one of the fundamental pillars of global economic governance — and it is highly effective. Many disputes are resolved before they reach the litigation stage, but when they do proceed to that stage compliance with rulings is very high, about 90 percent.