Trade Ware Between China And US

- Apr 01, 2019-

The eighth round of the two-day china-us high-level economic and trade consultation concluded in Beijing on Friday.Also co-chaired by liu he, a member of the political bureau of the communist party of China central committee, vice premier of China and Chinese leader of the china-us comprehensive economic dialogue, us trade representative lighthizer and finance minister mnuchin, the two sides discussed the text of the agreement and made new progress.

From snow to cherry blossoms, from Washington to Beijing, the four rounds of high-level economic and trade talks between China and the United States in the past four months have reached their most crucial and vigorous stage.During the last round of consultations, the two sides negotiated the text of the agreement and made substantial progress on specific issues such as technology transfer, intellectual property protection, non-tariff barriers, services, agriculture and exchange rates.This round of consultations continues to discuss the text of the agreement and has made new progress. This shows that the two sides have taken another step forward in implementing the important consensus reached by the two heads of state, which is worth looking forward to.

Every step forward in the china-us high-level economic and trade consultation is not easy.Although the talks took place behind closed doors, more and more details emerged as the pace and pace of the discussions accelerated.For example, in order to save time, this round of consultations changed the welcome dinner into a working dinner.In addition, there was no opening ceremony for this round of consultations. The two sides simplified the format and went straight to the topic, discussing the text of the agreement line by line.

See the spirit in the details.On the one hand, it reflects the huge differences between China and the United States in terms of system, culture, national conditions and stage of development.On the other hand, china-us economic and trade issues are not simply a matter of buying and selling.Therefore, given the limited time for face-to-face consultation, the two sides have adopted various ways such as overtime extension, video communication and eating and talking to seize every second to promote consensus, but there is still a lot of work to be done.It can be said that in the past nearly 120 days, working overtime day and night has been the norm for the economic and trade teams of both sides.

Nevertheless, under the guidance of the important consensus reached by the two heads of state of Argentina, the two teams have made substantial progress through unremitting efforts.This has not come easily and should be cherished by both sides.

U.S. exports to the world rose 0.9 percent to $207.3 billion in January, but overall exports to China fell to $7.1 billion, the lowest level since 2010, according to Commerce Department data released Wednesday.In the first two months of this year, China's imports and exports to the United States fell 19.9 percent, according to Chinese statistics.With trade tensions between China and the U.S. still unresolved, the organization for economic cooperation and development recently cut its global growth forecast for this year to 3.3% from 3.5%.

Obviously, the mutual imposition of tariffs is increasingly harmful to the two countries and the global economy, and it is increasingly important and necessary to implement the consensus reached by the two heads of state.At present, the two sides have entered a crucial stage of drafting the text.

The more critical consultations between China and the United States become, the more important it is to expand the convergence of interests.The us concerns mainly focus on ipr protection, market access and implementation mechanisms.These concerns can be addressed in China's current reform and opening-up process as long as they are in line with China's ongoing efforts to deepen reform and open wider to the outside world.At this year's BBS annual conference for Asia in boao, China has sent out a series of signals to open wider to the outside world. China and the United States can find common ground from these signals and continue to push for the resolution of their economic and trade concerns.

Next week, the ninth round of the china-us high-level economic and trade consultation will be held in Washington.As the pace of negotiations accelerates, the two sides should expand common ground with greater courage, wisdom and trust, continue to meet each other halfway and implement the consensus reached by the two heads of state.

As for China, it will surely strive for a mutually beneficial and win-win agreement with its consistent sincerity and efforts. Even if the talks are not ideal, China will calmly face the situation and do what it needs to do.After a year of trial and error, the Chinese economy has become more resilient and the Chinese mindset more mature.In 2018, when trade frictions are escalating, China's ofdi will still reach 130 billion us dollars, ranking firmly among the top in the world.Actual utilized foreign capital reached us $134.97 billion, up 3 percent year-on-year and reaching a record high.This impressive report card has made the Chinese people more firmly realize that the only way to cope with any storm is to handle your own affairs well.