2018年CRI Deepening cooperation meets the need of the two peoples and globalization: experts

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Experts say deepening cooperation between China and the United States not only meets the needs of the people of the two countries, but also that of globalization.

The comments come as Hundreds of economists¹, entrepreneurs and investors² gathered at the Fourth Annual China and Globalization Forum³ in Beijing Sunday, discussing the latest China-U.S. joint⁴ statement on trade.

CRI's Yu Yang has more:

The two countries issued a joint statement on Saturday on their trade consultations⁵, saying both sides have agreed to take measures to substantially decrease the U.S. trade deficit⁶ in goods with China, meaningfully increase U.S. agriculture and energy exports, and strengthen cooperation on intellectual property protection, among other items.

Long Yongtu, former Secretary-General of the Boao Forum for Asia, says the consensus⁷ in the joint statement proves that the two countries have the wisdom and the ability to properly handle their economic affairs and trade frictions⁸.

He also says the agreements conform to the interests of the people from the two countries:

"China and the United States reached a consensus, on the one hand, because of the strong political will of the two leaders, but on the other hand, reaching a deal is in the interests of the people from the two countries, because globalization binds⁹ the people and the interests of the two countries together, we have chosen a path that leads to mutual¹⁰ benefit and win-win cooperation."

The joint statement says more purchases of U.S. goods and services will also help support growth and employment in the United States.

However, it will take time to resolve the structural¹¹ problems in the bilateral¹² economic and trade ties.

Qian Jiannong, President of Fosun Tourism & Commercial Group, says in the era of ever deepening international cooperation, it is especially critical for Chinese enterprises to sharpen their competitive edge and broaden the scope of cooperation:

"In fact, the reason behind the trade frictions is deepening international cooperation. As the volume of trade grows, there will be more and more international trade disputes. How should Chinese enterprises cope with the issues brought about by globalization, and increasingly complicated international cooperation, which could obstruct¹³ their development? From my point of view, first of all, the enterprises should strengthen themselves; and secondly¹⁴, they should expand their cooperation in more areas."

The just-concluded consultations followed the visit by a U.S. delegation¹⁵ to China earlier this month, during which "candid¹⁶, efficient, and constructive¹⁷" talks were held between the two sides.

Experts say two rounds of consultations in such a short period of time showed huge sincerity¹⁸ from both countries.

The joint statement also says both sides agreed to maintain high-level contact and seek to resolve their economic and trade concerns in a proactive manner.