Reform, opening-up solution to trade row
According to The Wall Street Journal, US Treasury Secretary Steven Mnuchin spoke by telephone with Chinese Vice Premier Liu He on Friday. Although the conversation didn’t lead to any breakthrough in easing trade tensions, the renewed discussions indicate the two sides are trying to come to an accommodation.
President Xi Jinping and his US counterpart Donald Trump had a phone conversation recently and the second diplomatic and security dialogue between the two countries was just concluded in Washington on Friday. The two state leaders will reportedly meet during the G20 summit in Buenos Aires. There is expectation among international public opinion that this key summit may lead to a breakthrough in resolving trade disputes.
But Washington has been sending mixed messages, including both signs of willingness to reach reconciliation with Beijing, and tough rhetoric accusing China of being “untrustworthy.” Different attitudes among key US officials indicate that the outcome of the trade war is still uncertain.
Trade war can easily lead to confrontation, which may result in impulsive behavior and misjudgment. Countries involved can lose sense of direction because of single-mindedness. But China has avoided this common mistake of confrontation and remains focused on its original course of reform and opening-up, which has withstood the impact of the trade war.
From a symposium on private enterprises to China’s first import expo, it is suggested that the great cause has been consolidated and acquired new momentum. Concrete measures, including wider access to the Chinese market, more integration with the global economy and fairer competition among different ownership sectors, will largely reshape China’s future.
All this is the inherent demand for the upgrading of China’s economic and social development and an essential move to continue promoting the cause of reform and opening-up. It also goes toward the outside expectations for China.
As China forges ahead, there will be improved conditions for foreign economic cooperation and hence less friction. China will gain more confidence in upholding free trade and multilateralism.
The US has to choose whether to cooperate with a China determined to open wider or to curb China’s development by all exhausting means. Enhanced China-US cooperation, which serves the interest of most Americans, will again become the theme of bilateral relations sooner or later.
China is devoted to pushing forward its development, including high-tech advancement. Meanwhile it will keep adjusting development plans in accordance with the rules, planning and suggestions of the outside world, which will enable the country to make a contribution to easing global trade tensions and boosting free trade.
China has the capacity to shape its ties with the US thanks to its strength and down-to-earth spirit. The two powers will eventually reach a deal that is acceptable to both sides.