Any attempt to forcibly decouple China-U.S. economic and trade ties is destined to fail, Chinese Commerce Minister Wang Wentao announced on Friday.
Speaking at a press conference, Wang emphasized that despite ups and downs over the years, China and the United States remain vital partners to each other. He noted that while the share of bilateral trade in each other’s overall trade volume has seen fluctuations, the trade relationship has remained generally stable.
According to Wang, the trade volume of goods and services between the two countries rose by 18% and 34.7% respectively from 2017 levels. He highlighted that China and the U.S. continue to be key investment partners with close exchanges between their business communities.
“In essence, China-U.S. economic and trade relations benefit both sides and bring win-win outcomes. Cooperation is the only right path,” Wang stressed. He added that bilateral trade and investment have created a substantial number of jobs in both countries.
Wang expressed confidence that through equal-footed dialogue and consultation, the two nations can properly manage differences and address frictions to achieve mutually beneficial outcomes. “China’s stance has been consistent in firmly defending national interests and upholding international fairness and justice,” he stated.
He also highlighted that despite downward pressures in the first half of this year, China’s economy maintained steady growth. The fundamentals sustaining its long-term positive outlook remain unchanged, providing strong confidence in defending its legitimate interests.
As the world’s two largest economies, China and the United States share a responsibility to inject greater certainty and stability into global economic prosperity and development, Wang said. He affirmed that China is ready to work with the U.S. to enhance dialogue and communication, expand common ground, reduce misunderstandings, and strengthen cooperation.
