No winner if two sides act irrationally

THERE will be no winner in a trade war should one happen between China and the United States, Premier Li Keqiang said.

A trade “war” would go against the principles of trade — negotiation, consultation and dialog, according to Li.

China hopes both sides act rationally rather than emotionally, he said.

Last year, Sino-American trade reached about US$580 billion. Such a substantial trade volume could not have been achieved without business rules and market principles, he said.

“A large trade deficit is not something that we want to see,” said Li.

“What we want is balanced trade, otherwise bilateral trade would not be sustainable.”

China is going to further open services and manufacturing, which Li believes will create opportunities for the US.

Li hoped that Washington will also ease restrictions on the export of high-tech and high value-added American goods to China.

He added that intellectual property rights will be protected in a strict way.

As the world’s

largest developing and developed countries, China and the US are highly complementary in economy, and a stable China-US relationship is in the interests of both countries and the whole world, he said.

China will remain a responsible and long-term investor globally, Li said.

“It is unnecessary to worry about China's development.”