The US should promote mutually beneficial development through open cooperation | Cooperation | The US
On July 20th, the China International Economic Exchange Center held the 165th "Monthly Economic Talks" via video, with the theme of "China US Relations and Exchange Cooperation". The attendees jointly discussed the current trend of China US relations and the direction of future cooperation and development under the current situation.
"The Bali meeting between China and the United States marked a red line of interests for both sides to prevent misjudgments and conflicts, pointed out the direction for future development, and explored the possibility of cooperation." Zhang Xiaoqiang, Executive Vice Chairman and Director of the Executive Bureau of the China Center for International Economic Exchange, stated that the United States has a serious "action deficit" in implementing the consensus of the heads of state, including implementing a "small courtyard high wall" policy in the high-tech field, and reaching relevant agreements with Japan and the Netherlands on the basis of the 2022 US Chip and Science Act to expand export controls on semiconductor technology, further decoupling and disconnecting from China in the high-tech industry. Since the beginning of this year, multiple Chinese entities have been included in the so-called "entity list" of export controls. ".
According to data from the General Administration of Customs, the total import and export volume of China to the United States in the first half of this year was 2.25 trillion yuan, a year-on-year decrease of 8.4%. "The United States is constantly raising interest rates to cope with high inflation, which has led to a low willingness of domestic enterprises and people to consume and invest. In addition, the negative impact of the US' decoupling and disconnection 'policy has made the current economic and trade relationship between China and the United States encounter certain difficulties." Zhang Xiaoqiang said.
How to stop the decline and stabilize China US economic and trade? Zhang Xiaoqiang stated that the top priority is for the US and China to work towards each other, cancel high tariff measures that have violated World Trade Organization regulations, and truly implement the consensus reached at the Bali meeting between the two heads of state; Both sides should jointly seek the maximum common denominator in various fields such as macroeconomic policy coordination, digital economy, climate change response, green and low-carbon development, maintaining supply chain industry chain stability, healthcare, etc., and promote complementary advantages and mutually beneficial cooperation.
The rapid development of the global digital economy has provided a new historic opportunity for economic and trade cooperation between China and the United States. Chen Wenling, Chief Economist and Deputy Director of the Executive Bureau of the China International Economic Exchange Center, stated that the United States is the birthplace of global digital information, while China is a rising star with the world's largest digital economy, possessing huge market advantages, and accumulating rich experience and application scenarios in practice. In the future, China and the United States should accelerate cooperation in the digital field and jointly participate in leading the international rule making in the digital economy. The positive effects generated will not only benefit the enterprises and people of both countries, but also provide tremendous momentum for promoting world economic recovery and development.
"On the contrary, if there is a confrontation between the two countries in the field of digital economy, it will have a huge negative effect." Chen Wenling said that the semiconductor industry has the characteristics of vertical, complex, and multi-level industrial division of labor. Even if a basic product or raw material in the industrial chain is affected by sanctions, it may disturb the stability of the entire industrial chain.
What is the potential for cooperation between China and the United States in the field of high-tech? Zhang Xiaoqiang answered the reporter's question and said that the "decoupling and chain breaking" measures currently taken by the United States against China in the high-tech field are harmful to others and not beneficial to oneself. Taking the semiconductor industry as an example, China is one of the world's largest semiconductor markets, and several American chip giants have a huge market in China. Cutting off the Chinese market directly harms the interests of American companies. "And the United States should also recognize that it is unable to maintain a leading position in many strategic emerging industries, such as China's global leading technological level in 5G technology, ultra-high voltage transmission and transformation, new energy vehicles, wind power generation, photovoltaic power generation, and other fields. There is significant cooperation space between the two sides in many high-tech fields. The United States should maintain an open cooperation attitude and promote mutually beneficial development." Zhang Xiaoqiang said.
Recently, China and the United States have once again opened climate change talks. The new trends in the joint response to climate change and their impact on China US relations have also become the focus of discussion at the meeting.
"China and the United States have a long history of cooperation in jointly addressing climate change issues, which led to the achievement, signing, and implementation of the Paris Agreement." Su Wei, former Deputy Secretary General of the National Development and Reform Commission, stated that climate change is an important issue that cannot be avoided in bilateral relations between major countries, involving economic and social development and green and low-carbon transformation. As an important channel for China and the United States to maintain communication and dialogue, strengthening cooperation in addressing climate change issues can add positive factors to the development of China US relations and establish a buffer zone.
Su Wei stated that currently there are difficulties and challenges for China and the United States in addressing the issue of climate change, including differences in policy demands between the two sides and the negative impact of the US "decoupling and disconnection" policy. However, the potential for cooperation between China and the United States in this field is enormous. Both sides should adhere to the consensus of the heads of state, abide by the principle of common but differentiated responsibilities, continue to deepen exchanges and cooperation in the field of climate change, especially the research and application of green and low-carbon transformation technologies, and maximize the joint efforts to address climate change, contribute to the global response to climate change, and help China US relations return to the track of healthy and stable development as soon as possible.
