SINGAPORE, Nov. 13 (UPI) -- Chinese President Hu Jintao warns that the global financial crisis cannot be solved by protectionism.
The Chinese leader told an Asian economic summit in Singapore Friday that the crisis has given rise to trade and protectionism in various forms, CNN reports.
"Protectionism will not help any country move out of the crisis. Hu said. "It can only pose a threat to the fragile momentum of the economic economy."
His address to the Asia Pacific Economic Cooperation CEO Summit comes ahead of U.S. President Barack Obama's scheduled visit to China early next week.
Rumblings of potential trade spats between the United States and China have increased in recent months.
In September, the U.S. placed tariffs on Chinese-made automobile tires and China responded by cutting off imports of U.S. auto and poultry parts.
