China: Trade war with US would harm both countries – state media
The People's Republic of China flag and the U.S. Stars and Stripes fly along Pennsylvania Avenue in Washington. Source: Reuters/Hyungwon Kang/File Photo
25th January 2017
A TRADE war between China and the United States would harm both countries, the overseas edition of the state run People’s Daily said on Wednesday, reflecting concerns over the protectionist, and anti-China stance taken by new U.S. President Donald Trump.
“If a trade war developed between the two countries, both China and the U.S. would be negatively impacted,” the newspaper said in a commentary.
“In the end neither side would win, it would bring harm to other countries and that harm would be brought to others without benefits to the U.S. or China.”
As both China and the U.S. are major players in global supply chains and value chains, numerous countries would be gravely impacted from a trade war, the article added.
“At present, China and the U.S. are bound together by trade, investment, finance and other spheres,” the article quoted Zhang Jianping, head of the Research Center for Regional Cooperation under China‘s Ministry of Commerce, as saying.
“As the two largest economies in the world, maintaining positive trade relations is beneficial both to China and the U.S. and also the global economy.”
Meanwhile, China says it wants dialogue with the new U.S. administration to manage disputes and promote bilateral relations, but only on the basis of respecting each other’s core interests, like the “one China” principle, China‘s foreign minister said.
U.S. President Donald Trump, who was inaugurated on Friday, upset Beijing before taking office by casting doubt on the “one China” principle, under which Washington acknowledges Beijing’s position of sovereignty over self-ruled Taiwan.
China views Taiwan as a wayward province, to be brought under its control by force if necessary. However, proudly democratic Taiwan has shown no interest in being ruled by Beijing.
Speaking at a reception for the upcoming Chinese Lunar New Year, Foreign Minister Wang Yi said the future direction of Sino-U.S. ties had “attracted attention”.
“We are willing, on the basis of strictly abiding by the ‘one China‘ principle and respect of each other’s core interests, to have dialogue with the new U.S. government,” Wang said, in comments posted on the ministry’s website late Tuesday.
China is willing to “increase mutual trust, focus cooperation, manage and control disputes and promote the healthy development of China-U.S. relations, to bring even greater benefits to both peoples”, he added. – Reuters
