- Doors remain open for resumption of dialogue
- Beijing won’t budge under any pressure
- China issues white paper on China-US trade talks’ stance
ISLAMABAD/BEIJING – China has squarely laid the blame on the US for breakdown of trade talks between the world’s two economic giants, but hinted it could initiate the stalled talks with Washington, cautioning it would not give any concessions under any pressure.
In a white paper issued by Chinese Embassy here on China’s official position on the trade talks, the State Council Information Office in Beijing made it clear the US government “should bear the sole and entire responsibility” for the current stalemate, and hit back at allegations that Beijing had backtracked from its earlier promises.
On the specific allegation that China significantly changed the text under negotiation after the latest round of talks, the white paper said it was “common practice” to make new proposals and adjustments as the talks progressed, something the US had done consistently.
“The more the US government is offered, the more it wants,” the document said.
The US government’s accusation of Chinese backtracking is totally groundless, according to a white paper titled China’s Position on the China-US Economic and Trade Consultations.
The white paper noted that it is common practice for both sides to make new proposals for adjustments to the text and language in ongoing consultations. In the previous more than ten rounds of negotiations, the US administration kept changing its demands. It is reckless to accuse China of “backtracking” while the talks are still under way.
“Historical experience has proved that any attempt to force a deal through tactics such as smears, undermining and maximum pressure, will only spoil the cooperative relationship. Historic opportunities will be missed,” says the white paper.
Beijing says a civilized country turns to forceful measures only when gentler approaches have failed. “After the US issued the new tariff threat, the international community was widely concerned that China might cancel the consultation visit to the US. It kept a close watch on the future direction of the China-US trade negotiations,” the white paper said.
Bearing in mind the broader interests of trade and economic relations between the two countries, China remained cool-headed, exercised restraint, and sent a senior delegation to the US, as agreed, for the 11th round of economic and trade consultation from May 9 to 10.
“In doing so, China demonstrated the greatest sincerity and a strong sense of responsibility for resolving trade disputes through dialogue. In the following candid and constructive discussions, the two sides agreed to manage differences and continue consultations”.
China expressed strong opposition to the unilateral tariff increase by the US and stated its firm position that it would have to take necessary countermeasures, it said.
China emphasized once again that trade deals must be based on equality and mutual benefit. China will never compromise on major principles concerning its core interests, the white paper said.
“One prerequisite for a trade deal is that the US should remove all additional tariffs imposed on Chinese exports and China’s purchase of US goods should be realistic while ensuring that a proper balance in the text of the agreement is achieved to serve the common interests of both sides,” it said.
China does not want but is not afraid of a trade war
The China-US commercial relationship serves as both the ballast and the propeller of the overall bilateral relationship. At stake are the fundamental interests of the two peoples, and the prosperity and stability of the world.
Since the establishment of diplomatic relations between China and the US, bilateral trade and economic relations have come a long way, with expanding fields of cooperation at higher levels. A mutually beneficial and win-win relationship with strong complementarity and interlinked interests has been forged, benefiting not only the two countries but also the entire world, according to the white paper titled China’s Position on the China-US Economic and Trade Consultations.
US-imposed tariff measures harm others and are of no benefit to itself
The US administration has imposed additional tariffs on Chinese goods exported to the US, impeding two-way trade and investment cooperation and undermining market confidence and economic stability in the two countries and globally.
The US tariff measures lead to a decrease in the volume of China’s export to the US, which fell by 9.7 percent year-on-year in the first four months of 2019, dropping for five months in a row, the white paper said, citing data from the website of China’s General Administration of Customs.
US-provoked trade friction perils entire world
The China-US economic and trade friction provoked by the United States damages the interests of both countries and of the wider world.
Trumpeting “America First,” the current US administration has adopted a series of unilateral and protectionist measures, regularly wielded tariffs as a “big stick” and coerced other countries into accepting its demands.
The US has initiated frequent investigations under the long-unused Sections 201 and 232 against its main trading partners, causing disruption to the global economic and trade landscape. Specifically targeting China, in August 2017, it launched a unilateral investigation under Section 301.
Turning a blind eye to China’s unremitting efforts and remarkable progress in protecting intellectual property and improving the business environment for foreign investors, the US issued a myriad of slanted and negative observations, and imposed additional tariffs and investment restrictions on China, provoking economic and trade friction between the two countries, said the white paper.
US accusation of China IP theft, forced technology transfer unfounded
Accusing China of stealing intellectual property to support its own development is an unfounded fabrication, says the white paper.
Historical records confirm that China’s achievements in scientific and technological innovation are not something we stole or forcibly took from others; they were earned through self-reliance and hard work, the white paper said.
US trade bullying harms the world
Economic globalization is a firmly-established trend of the times, and beggar-thy-neighbor unilateralism and protectionism are unpopular.
The trade protectionist measures taken by the US go against the WTO rules, damage the multilateral trading system, seriously disrupt global industrial chains and supply chains, undermine market confidence, and pose a serious challenge to global economic recovery and a major threat to the trend of economic globalization, the white paper said.
China-US trade, investment mutually beneficial
China and the US are each other’s largest trading partner and important source of investment, and their commercial cooperation has brought substantial benefits to both countries and both peoples.
In 2018, bilateral trade in goods and services exceeded US$750 billion, and two-way direct investment approached US$160 billion, the white paper said.
US backtracks on commitments in China-US trade consultations
Since they were launched in February 2018, the economic and trade consultations have come a long way with China and the US agreeing on most parts of the deal. But the consultations have not been free of setbacks, each of them being the result of a US breach of consensus and commitments, and backtracking, according to the white paper.
In response to the economic and trade friction started by the US, China has been forced to take countermeasures, as bilateral trade and investment relations took a hit. For the well-being of the Chinese and American people and the economic development of the two countries, both sides deemed it necessary to come to the negotiating table to seek a solution through consultation, said the white paper titled China’s Position on the China-US Economic and Trade Consultations, released by the State Council Information Office.
No challenge will hold back China’s development
No challenge will hold back China’s development, though its development may not be all smooth sailing, and difficulties or even perils are inevitable.
Whatever the future might bring, China is confident of meeting challenges head on, turning risks into opportunities, and opening new chapters, said the white paper titled China’s Position on the China-US Economic and Trade Consultations.
China will not give ground on issues of principle
During consultations, a country’s sovereignty and dignity must be respected, and any agreement reached by the two sides must be based on equality and mutual benefit.
The white paper noted that every country has its own matters of principle and that on major issues of principle, China will not back down.
China committed to credible consultations based on equality, mutual benefit
The Chinese government rejects the idea that threats of a trade war and continuous tariff hikes can ever help resolve trade and economic issues.
Guided by a spirit of mutual respect, equality and mutual benefit, the two countries should push forward consultations based on good faith and credibility in a bid to address issues, narrow differences, expand common interests, and jointly safeguard global economic stability and development.
Cooperation is only correct choice for China and US
Cooperation is the only correct choice for China and the US and win-win is the only path to a better future. As to where the China-US economic and trade consultations are heading, China is looking forward, not backward. Disputes and conflicts on the trade and economic front, at the end of the day, need to be solved through dialogue and consultation, the white paper said.
Striking a mutually beneficial win-win agreement serves the interests of China and the US and meets the expectations of the world.
It is hoped that the US can pull in the same direction with China and, in a spirit of mutual respect, equality and mutual benefit, manage economic and trade differences, strengthen trade and economic cooperation, and jointly advance China-US relations based on coordination, cooperation and stability for the well-being of both nations and the world, the white paper concluded.
