No one wins in trade wars: vice-foreign minister

2018-03-27
China Daily

It is natural to see some differences between China and the United States, but neither side should attribute its own problems to the other and make fundamental mistakes in coming to a strategic judgment, Vice-Foreign Minister Zheng Zeguang said on March 26.

That will only injure others, backfire and mess up the world, the senior Chinese diplomat told corporate leaders and experts from around the world at a high-end luncheon of the China Development Forum 2018 in Beijing.

Zheng, a veteran in China-US relations, called on joint efforts to adopt an objective and rational manner to analyze and view the bilateral relationship, put oneself in other’s shoes and adapt to each other on a reciprocal basis.

Both sides should abide by the three key joint statements signed between China and the US, live up to the one-China principle, respect each other’s core interests and major concerns, eliminate and control divergences and avoid the ties from being disturbed, Zheng said.

The common interests of China and the US are far greater than their differences, and their cooperation in many fields is far more than their competition in specific fields, Zheng said.

Speaking on China-US trade frictions, the vice-minister said there is no winner in trade war, and China is not afraid of a trade war, as it has strong determination and is fully prepared to react and safeguard China’s interests.

It is hoped that the US side will calm down and work with China to look for a proper solution to the problem on a basis of mutual respect, equality and mutual benefit, which is good for China, the US and the world, Zheng said.

A trade imbalance is not a surprise when the two countries’ economic and trade cooperation runs on a fast track, Zheng said, and they should work on issues through consultation and in a manner acceptable to both sides.

Speaking about the Belt and Road Initiative, Zheng said it has become one of the world’s most important international cooperation programs.

China will work toward the success of ministerial meetings in key areas and prepare for the second Belt and Road Forum for International Cooperation next year, he said.