Chinese Premier Li Qiang warned of the negative consequences for the world if it becomes economically divided, and he also responded to criticisms that accuse his country's industrial policy of causing overproduction.

Li Qiang was quoted by Bloomberg News during a meeting at the World Economic Forum today, Tuesday, in Dalian, northeast China, saying, "The regressive actions related to the separation process" will only drag the world into a "devastating spiral where the competition for a larger share ends up with getting a tiny part."

He added, "This is something we do not wish to see happen."

Li Qiang also defended his country against allegations that it is flooding the world with cheap goods, pointing to its expertise in science and technology in order to create "a broad space for companies to continue innovating and enhancing products."