China tells US way forward is dialogue not confrontation
Print Edition
AT the start of economic talks with the Trump administration yesterday, China’s top economic official said it was important Beijing and Washington work together to resolve differences and cautioned that confrontation would only be damaging to both sides.
“Dialogue cannot immediately address all differences, but confrontation will immediately damage the interests of both,” Chinese Vice Premier Wang Yang said as the China-US Comprehensive Economic Dialogue got under way in Washington.
Wang said the key point about the one-day meeting is the two countries are “having dialogue, not confrontation.”
“We don’t need to defeat each other in handling differences,” he cautioned.
Wang quoted a passage from US President Donald Trump’s 2009 business advice book “Think Like a Champion” — which in turn was quoting industry pioneer Henry Ford — saying: “Coming together is a beginning; keeping together is progress; working together is success.”
“China is ready to work together,” Wang said.
On Tuesday, Wang called on the United States to relax export barriers against China and allow the two sides to tap the huge market potential in bilateral trade.
“The Chinese and US economies do have a competitive dimension, but there is far greater complementarity than competition,” he said at a business lunch in Washington.
As the Chinese economy continues to grow at a medium-high speed and climb higher on the value chain, China’s traditional industries are transformed and upgraded at a faster pace, and emerging industries flourish, he said.
Thanks to that, “there is huge market potential to tap in US exports of advanced technologies, key equipment and critical parts to China,” Wang said.
“Unfortunately, American businesses have not had their fair share of the ‘cake’ due to outdated US regulations on export control,” he said, noting that while US high-tech exports to China accounted for 16.7 percent of China’s total imports of such products in 2001, that dropped to 8.2 percent last year.
Wang said China now has 300 million people in the middle-income group and their demand for quality US goods and services is swelling by the day.
The US-China Business Council, he noted, predicts American goods and services exports to China will double to US$369 billion in the next decade and rise to US$520 billion by 2050.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
