Economy: China and the United States hope to resolve their trade differences pragmatically

Beijing supports reforms to improve the effectiveness of the World Trade Organization

Madrid, 3 (European Press)

The governments of China and the United States have “normally” resumed their contacts of an economic and commercial nature and hope to resolve the differences between the two powers pragmatically with the aim of achieving mutual benefit and for the world at large, he said. by the Chinese Ministry of Commerce.

“The two sides believe that the exchanges are professional, frank and constructive, and the Sino-US economic and trade fields have begun to communicate normally,” Chinese ministerial spokesman Gao Feng said at a press conference, referring to the video conferences held separately between the two countries. Chinese Vice Premier Liu He with US Secretary of the Treasury, Janet Yellen, and US Trade Representative, Catherine Tai.

“During these two invitations, the two sides exchanged views on the economic and trade relations between China and the United States, and put the macroeconomic and domestic policies in an attitude of equality and mutual respect,” the official added.

Similarly, a spokesperson for the Chinese Ministry of Commerce emphasized that both countries agree in recognizing the importance of economic and trade relations between China and the United States, as well as the existence of “many specific areas of cooperation.”

In this way, the two sides agreed that the next step is to work together from the perspective of benefiting China, the United States and the world at large, to pragmatically solve specific problems for producers and consumers, as well as to promote health. China’s stable economic and trade relations with the United States.

World Trade Organization reform.

On the other hand, Gao Feng reiterated Beijing’s supportive stance for the necessary reforms to improve the authority and effectiveness of the World Trade Organization in the face of unilateralism and protectionism.

“We believe that international economic and trade rules should be formulated jointly by all parties, and rules formulated by one or more countries should not be imposed on other countries,” he said.

In this way, he stressed that China is ready to work with all parties to promote the reform of the World Trade Organization, improve the global economic governance system, and promote the development of the world economy in a more open, inclusive, balanced and beneficial direction. For everyone.