Wang Cong and Chen Qingrui GT Sep 08, 2024
Chinese and US officials on Saturday held "professional, rational and pragmatic" talks about policy issues of mutual concern and specific issues raised by the business communities of the two countries, the Chinese Ministry of Commerce (MOFCOM) said, adding to increasing exchanges between officials of the two countries aimed at stabilizing bilateral ties.
The growing interactions between Chinese and US officials send a positive signal that the world's two biggest economies remain committed to maintaining communication, despite growing tension. However, to remove major hurdles for bilateral cooperation, Washington must stop its crackdown campaign against China's development, Chinese experts said on Sunday.
According to a statement from the MOFCOM, China International Trade Representative and Vice Minister of Commerce Wang Shouwen and US Under Secretary of Commerce for International Trade Marisa Lago co-chaired the second vice-ministerial meeting of the China-US commercial and trade working group on Saturday in North China's Tianjin Municipality.
"A modern China with a massive population means opportunity for the US, not a threat," Wang said.
Crucially, the Chinese side raised concerns about the US' so-called Section 301 tariffs against Chinese products, Section 301 probes into shipbuilding and other Chinese industries, overstretching of the concept of national security, sanctions on Chinese companies, restrictions on two-way investments and other trade remedy measures against China, and unfair treatment toward Chinese firms operating in the US.
"The Chinese side opposes the use of claims such as 'overcapacity' as pretext to impose restrictive measures on trade and investment," the MOFCOM said. The two sides agreed to offer necessary support for trade and investment promotional activities, maintain communication on cross-border data flow and other areas.
The meeting on Saturday comes as the US government reportedly plans to announce final decision for additional tariffs on a slew of Chinese products, including electric vehicles (EVs). However, amid growing opposition from US domestic businesses and industries, the US has delayed the announcement twice.
Positive signal
Despite tension between the world's two biggest economies, holding more talks on various levels is a positive signal and critical for the two sides to better understand each other's positions and avoid miscalculation, Chinese experts said.
"Certainly, this shows the two sides can put some issues on the table and hold talks about them, which in itself is a constructive move," He Weiwen, a senior fellow from the Center for China and Globalization, told the Global Times on Sunday, noting the agreement on supporting trade and investment promotional activities offer a positive signal for businesses.
Saturday's meeting also comes amid communication between Chinese and US officials at various levels.
"The frequent interactions indicate positive attitude from both sides. Although such talks cannot immediately resolve all differences, they are constructive in managing and reducing tension, because the two sides can better understand each other's intensions so as to avoid misunderstanding and miscalculation," He Weiwen said.
To address issues and remove hurdles for bilateral ties, the US must treat China's development fairly and objectively, stop politicizing trade and economic issues, stop imposing additional tariffs and other crackdown measures against Chinese businesses and products, experts said.
"While some in the US business community are opposed to the US' policies, generally speaking, the US government's intention to suppress China is already very clear," Liu Weidong, a research fellow at the Institute of American Studies at the Chinese Academy of Social Sciences, told the Global Times on Sunday, pointing to the US' ever-growing list of crackdown measures against China.
Despite lingering tension, particularly in the area of national security, there is a real need for stability and cooperation in the economic area from both sides, Liu said. "The meeting mainly showed that there is still room for cooperation between China and the US in the economic field."
The US' approach of suppressing China while pursuing talks with China at the same time is unlikely to change in the foreseeable future, experts said.
"We need to have a comprehensive view of the China-US relationship, in which both positive and negative elements exist. Given such duality, we need to maintain a pragmatic attitude. Dialogue is essential, but actions are also necessary," He Weiwen said⍐.
No comments:
Post a Comment