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Xinhua News Agency, Beijing, December 18 (Reporter Ma Zhuoyan) State Councilor and Foreign Minister Wang Yi held a video exchange with the Asian Society of America in Beijing on the night of the 18.
Wang Yi said that the essence of Sino-US trade and economic relations is mutual benefit and win-win results. The driving force of trade lies in market demand, and there has never been a strong buy or sell. There is no winner in a trade war. Through tax increases and pressure, events have proven to be a boomerang, being shot with a stone. Both sides should remove some man-made obstacles and inject more positive expectations for the healthy development of Sino-US trade and economic cooperation. China’s domestic market will continue to expand and become the largest and most dynamic market in the world. We have the ability and the need to buy more marketable products from various countries, including the United States, so it is only a matter of time before the trade imbalance between the two countries is alleviated. With regard to the structural issues of concern to the United States, China is making steady and orderly progress in reforms in various respects according to its own reform calendar. We will also seriously apply the structural consensus reached in the first phase of the economic and trade agreement. China has made it clear that it wants to build a new high-level open economic system. China’s domestic reforms are not only in the field of policies, but also deepen the reform of the institutional system. In time, the reasonable concerns of all parties will be adequately resolved. This is, first and foremost, China’s own needs, the need to build China’s modern economic system. The United States should stop generalizing the concept of national security and stop unreasonably cracking down on Chinese companies. In the past two days, the US administration has continued to lengthen the list of sanctions against Chinese companies, which is incredible and unacceptable. The United States must return to rationality and effectively provide an open, fair and non-discriminatory environment for the operation and investment of Chinese companies.
