(The speaker is vice president and editor in chief of China International Publishing Group)
We need to move in the same direction to bring economic and trade relations back on the right track. Economic and trade cooperation is an important part of bilateral relations, the essence of which is mutual benefit and win-win results. The interests of the two sides are deeply connected, and both countries gain from cooperation and lose from confrontation.
According to the 2021 Business Climate Survey of the American Chamber of Commerce in China on March 9, 75 percent of its member companies said they were optimistic about the prospects of the Chinese market, and 81 percent of companies said they expected their businesses to grow in China. This is the latest testament to the mutually beneficial and win-win nature of China-U.S. economic and trade ties.
Despite the extremely unfavorable condition last year, bilateral trade reached $630 billion last year, up 8.8 percent from 2019. China is the largest trading partner of the United States, and the bilateral trade and investment cooperation has made contributions to the economic recovery of the two countries. It was announced yesterday that the semi-conductor associations of the two countries have decided to set up a working mechanism to coordinate their policies on information sharing, export management, supply chain safety and trade practices. This follows a chain of US sanctions in recent years to restrict the development of the Chinese semi-conductor industry, which not only has hurt the interests of US businesses, but also has disrupted the global supply chain which in turn has led to a shortage of chips worldwide and the shutdown of not a few production lines. This fully demonstrates that economic and trade collaboration serves as a driving force of bilateral relations and has brought tangible benefits to both sides.
Keynote Speech at the Webinar on China-U.S. Relations and Global Governance (full text)