By Yu An

“China’s Position on the China-US Economic and Trade Consultations”, a white paper issued by China on June 2, completely and accurately introduced the process of the trade talks between the two countries with solid data and facts.

It further revealed to the world the US breach of consensus and commitments, and backtracking, making the US uneasy.

The US responded to the Chinese white paper the next day in a statement jointly issued by the Office of the US Trade Representative and the US Department of the Treasury, making nonsense that China was “pursuing a blame game misrepresenting the nature and history of trade negotiations between the two countries”.

The statement once again exposed the nature of the US who has always distorted facts and put the blames on the victims.

Fanning up the so-called “persistent and unsustainable trade deficits” with China, the US has only shown its one-sided recognition of deficit.

It believes it has been “losing” to China from the huge purchases, which is to say the commodities they have bought from China would devalue immediately after they get them. What a ridiculous theory!

The raw materials and intermediate goods the US imported from China have generated enormous profit for US manufacturers after being processed, which the US has never calculated, nor intended to.

It is even more ridiculous for the US to stubbornly believe that the additional tariffs would generate huge profit, as if the moaning and groaning of the Americans had turned completely mute for the US politicians.   

It must be clarified that the US trade deficit with China, affected by many objective factors, is a result of market operation in which the two sides give full play to their comparative advantages to achieve mutual benefits in bilateral trade.

Large amount of data have shown that the trade between China and the US has diversified the choices of American consumers, lowered their living cost, and raised their real purchasing power, especially for middle- and low-income earners.

Besides, the cost-effective Chinese commodities are one of the important factors that contributed to the long-term low inflation of the US.

It’s easy to tell that the China-US trade suits the needs of and creates benefit for both parties. The so-called “forced technology transfer” and failed protection of American intellectual property right are also groundless assumptions.

Many American economic experts have criticized the US for making “false narrative on China”, calling on the latter to stop making China a “scapegoat” and “stress the need for objectivity and honesty in assigning blame”.   

The US accusation on China of “backtracking” in trade consultations is sheer nonsense. It’s natural to revise and adjust the content and statements during consultations, and that is what the US has done in the last over ten rounds of talks. Is China an exception? Absolutely not!

The progress of the consultations is inseparable from constructive suggestions. However, these constructive suggestions must be made based on equality rather than China’s concessions for fear of US threats.

The international community can see clearly China’s sincerity in the trade consultations with the US, and such sincerity is not wordplay, but concrete actions.  

China will resolutely safeguard its national dignity and the interests of the Chinese people and never deviate from justice no matter what the US does.

China has reiterated that disputes and conflicts, at the end of the day, need to be solved through dialogue and consultation. However, cooperation has to be based on principles, mutual respect, equality and mutual benefit.

If the US shows no respect to the sovereignty and core interests of China and wants to achieve a “win-lose situation” by forcing the latter to make concessions, the consultations are doomed to fail.  

There is no doubt that once the US chooses to escalate the friction, China will strike back with powerful countermeasures.

All in all, as China stated in the white paper, “China does not want a trade war, but it is not afraid of one and it will fight one if necessary. China’s position on this has never changed.”

It is hoped that the US can stop its wrongful deeds and meet China halfway to control differences and enhance cooperation based on mutual respect, equality and win-win cooperation, in a bid to safeguard the sound and stable development of China-US economic and trade ties.

[related_posts_by_tax posts_per_page="6"]

Leave a comment