China seen as sheet anchor amid global trade storm

The tariff crisis brought about by the United States has offered a unique opportunity for China to establish itself as the world's indispensable partner under the principles of multilateralism and free trade, a business executive from the Middle East has said.

Zayed bin Aweidha, CEO of Abu Dhabi Investment Group, or ADIG, said the world is on the edge of an international economic crisis, as panic sentiments took hold of the market on Monday and erased trillions in investor wealth.

"The tariffs are just a trigger and the problem is much bigger because the United States wants to make another kind of world trade order (which is) more focused on itself," he said in an exclusive interview with China Daily, suggesting the US aims to reshape global trade rules favoring its own interests.