Shortly after the Trump admin enacted another $200BN in tariffs on Chinese imports just after midnight on Monday, China published a white paper to “clarify the facts about China-US economic and trade relations, demonstrate its stance on trade friction with the United States, and pursue reasonable solutions”, the Global Times reported.
Excluding the foreword, the massive, 36,000-Chinese-character white paper is comprised of six parts, which are
- mutually-beneficial and win-win China-US cooperation in the trade and economic field,
- clarification of the facts about China-US trade and economic relations,
- the trade protectionist practices of the US administration,
- the trade bullyism practices of the US administration,
- damage of the improper practices of the US administration to global economy, and
- China’s position.
China is the world’s biggest developing country and the United States is the biggest developed country, said the white paper. “Trade and economic relations between China and the United States are of great significance for the two countries as well as for the stability and development of the world economy.”
The white paper said the two countries are at different stages of development and have different economic systems, and therefore some level of trade friction is only natural. “The key, however, lies in how to enhance mutual trust, promote cooperation, and manage differences.”
The white paper said China and the US are at different stages of development and have different economic systems, and therefore some level of trade friction is only natural. “The key, however, lies in how to enhance mutual trust, promote cooperation, and manage differences.” https://t.co/YyGgSFcCS3
— Global Times (@globaltimesnews) September 24, 2018
In the spirit of equality, rationality, and moving to meet each other halfway, the two countries have set up a number of communication and coordination mechanisms such as the Joint Commission on Commerce and Trade, the Strategic and Economic Dialogue, and the Comprehensive Economic Dialogue, the white paper said.
Each has made tremendous efforts over the past 40 years to overcome all kinds of obstacles and move economic and trade relations forward, which has served as the ballast and propeller of the overall bilateral relationship, according to the white paper.