China Center for International Economic Exchanges

Chen Wenling: The US practices harm the China-US relations and affect the rest of the world
Date:Jun 04,2019    Source:CCIEE

At the forum held in Jeju, South Korea on the 31st May, Chinese and foreign scholars accepted interviews with the China News Agency, discussing the reasons and impact of the China-US trade frictions

Malcolm Turnbull, former Australian Prime Minister believes that trade deficit does not necessarily mean unfair trade. The important thing is to ensure fair competition and the same rules apply to everyone.

Zhang Weiwei, dean of the China Institute of Fudan University, pointed out that the increased tariffs on Chinese products will ultimately be borne by US consumers.” Chen Wenling said that Chinese companies are the main buyers of US high-end products such as computer chips. The longer the US cuts its supply to China, the more painful the US companies will feel because they will not be able to find a buyer which is as big as China.

“The Trump administration is hurting the United States,” said Jeffrey J. Schott, a senior researcher at the Peterson Institute for International Economics in the United States. “Technical hegemony” will damage the global industrial chain, it will harm not only the US and China, but also the global economy.

CHOIB yung-il, a professor at Korea’s Ewha Women’s University believes that the US market wants a win-win situation but the political world is more inclined to a “zero-sum game”, but the international community including South Korea does not want US-China trade frictions to continue.

“Trade friction is not good for China and the United States,” said Wang Guoqing, vice chairman of the China Foundation for Human Rights Development. He noted that China does not want the trade war but is not afraid to fight back. As long as the US adheres to the principle of equality and mutual benefit, the door to negotiations will always open. The opening-up policy of China will not change, and China’s position of maintaining world peace will not change.

Martin Jacques, a senior researcher at the University of Cambridge, believes that the United States wants to contain China’s rise. The “attack” launched by the US on Chinese companies such as Huawei has nothing to do with national security, but because the US is afraid of competing with China.

Martin said that the key to resolve the China-US trade frictions is a mutual understanding. The United States should respect China’s choice of development paths and recognize that it will not be the only powerful country in the world.

Former Japanese Prime Minister Yukio Hatoyama said that China did not invade any countries and the Chinese culture shows that China has no aggressiveness. The Belt and Road initiative proposed by China comes from the spirit of cooperation.

Ning Fukui, former Chinese ambassador to South Korea, believes that the China-US trade friction is not about two big powers fight for hegemony. The United States is trying to curb the development of other countries in order to maintain its superpower status. China intends to learn from other civilizations and promote win-win cooperation, which is very different from the US.

Huang Youyi, executive vice president of the China Translation Association, also said that when conducting international cooperation, China has never forced any country to “choose a side”. Some countries have concerns about China in this regard because of the prejudice of the Western media.

“The US is liable to the trade friction,” said Chen Wenling, chief economist of China Center for International Economic Exchanges. The US did not keep its promises during the trade negotiations and has lost its reputation. It sacrificed long-term interests for short-term interests. The US government made a mistake by treating China as a hostile force. The United States has tried to block China many times since the founding of the People’s Republic of China, but it never succeeded. The United States can not stop China’s development."

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