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Herald Reporter
China has launched fresh criticism of the United States for provoking a trade war between the world’s two largest economies, which will affect not only the two countries, but the rest of the world.
Zimbabwe and many other developing countries enjoy growing cordial trade relations with China, with the Asian economic giant having helped with technological transfers and investment that amount to billions of dollars.
The trade war between the United States and China is likely to weaken the world trading systems, thereby affecting the movement of goods on world markets.
In a White Paper released yesterday, the Asian economic giant said it was willing to work with the United States to find solutions and reach a mutually beneficial and win-win agreement on the issue.
“As to where the China-US economic and trade consultations are heading, China is looking forward, not backward,” said China in the paper released by the State Council. “Disputes and conflicts on the trade and economic front, at the end of the day, need to be solved through dialogue and consultation.
“Striking a mutually beneficial and win-win agreement serves the interests of China and the US and meets the expectations of the world.
“It is hoped that the US can pull in the same direction with China and in a spirit of mutual respect, equality and mutual benefit, manage economic and trade differences, strengthen trade and economic cooperation, and jointly advance China-US relations based on coordination, cooperation and stability for the well-being of both nations and the world.”
China said since the establishment of diplomatic relations with the US, bilateral trade and economic relations had come a long way, with expanding fields of cooperation at higher levels.
“A mutually beneficial and win-win relationship with strong complementarity and interlinked interests has been forged, benefiting not only the two countries, but also the entire world,” said the Asian economic giant.
“Given the differences in stage of development and economic system, it is inevitable that the two countries will experience differences and friction in their commercial cooperation. The history of China-US trade and economic relations has seen twists and turns and difficult situations.
“By adopting a rational and cooperative attitude, the two countries have managed to resolve previous conflicts, bridge differences, and render the bilateral commercial relationship more mature through dialogue and consultation.”
China said the new US administration has threatened additional tariffs and other measures and provoked frequent economic and trade friction with its major trading partners since it took office in 2017.
In response to the economic and trade friction unilaterally initiated by the US, China said it had to take forceful measures to defend the interests of the nation and its people.
“At the same time, committed to resolving disputes through dialogue and consultation, China has engaged in multiple rounds of economic and trade consultations with the US in an effort to stabilise the bilateral commercial relationship,” said China.
“China’s position has been consistent and clear — that cooperation serves the interests of the two countries, that conflict can only hurt both, and that cooperation is the only correct choice for both sides. Concerning their differences and frictions on the economic and trade front, China is willing to work together with the US to find solutions, and to reach a mutually beneficial and win-win agreement.
“However, cooperation has to be based on principles. There are bottom lines in consultations.”
It added, “China will not compromise on major issues of principle. 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.”
Online Reporter