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Times of Suriname published a signed article by Ambassador Liu Quan on the ongoing trade friction between China and the United States
2019/06/21

From 19 to 21 June 2019, Times of Suriname, the largest news paper in Suriname successively published a signed article by Ambassador Liu Quan entitled "A more open China will have more positive interactions with the world",introducing the White Paper on"China's Position on Sino-US Economic and Trade Consultations"issued by the Chinese government. The article pointed out that the Sino-US Economic and trade friction provoked by the US damages the interests of both countries and of the wider world. China is unwilling but not afraid of fighting a trade war and a more open China will surely benefit Suriname and the whole world. The full text is as follows:

  

The ongoing trade friction between China and the United States has attracted attention worldwide. Recently, Some of my Surinamese friends told me that they were deeply worried about this dispute. I would like to take this opportunity to make a simple response.

Economic and trade friction provoked by the US damages the interests of both countries and of the wider world

Since the establishment of diplomatic relations between China and the US, highly integrated, complementary and mutually beneficial bilateral trade and economic relations has been forged, benefiting not only the two countries but also the entire world.

However, since it took office in 2017, the new US administration has threatened additional tariffs and other measures and provoked frequent economic and trade friction with its major trading partners. The trade friction between China and the United States, provoked by the US side, has not only damaged the interests of the two peoples, undermined the multilateral trading system and the rules of the World Trade Organization, but also had a great impact on the global economy in the recovery.

Global Economic Prospects released by the World Bank in January 2019 revised its forecast for global economic growth down further to 2.9 percent, citing continuous trade friction as a major downward risk. The International Monetary Fund also marked down its projection of world economic growth for 2019 to 3.3 percent from the 2018 estimate of 3.6 percent in its World Economic Outlook report published in April 2019, suggesting that economic and trade friction could further depress global economic growth and weaken already anemic investment.

China is unwilling but not afraid of fighting a trade war

The Chinese government rejects the idea that threats of a trade war and continuous tariff hikes can ever help resolve trade and economic issues. It is natural for China and the US, the two largest economies and trading nations in the world, to experience some differences over trade and economic cooperation.

For the good of the common interests of the two countries and global trade order, and in a strenuous effort to push forward the economic and trade consultations, China remains committed to resolving issues through dialogue and consultation, responding to US concerns with the greatest patience and sincerity. During the consultations, in accordance with the principle of mutual respect, equality and mutual benefit, China's only intention is to reach a mutually acceptable deal.

But the more the US government is offered, the more it wants. Resorting to intimidation and coercion, it persisted with exorbitant demands, maintained the additional tariffs imposed since the friction began, and insisted on including mandatory requirements concerning China's sovereign affairs in the deal. China strongly opposes this. Every country has its own matters of principle. China will not compromise on major issues of principle, and will rise to any challenge coming its way. China is open to negotiation, but will also fight to the end if needed. These principles and grounds are clearly depicted in the recent published white paper named "China's Position on the China-US Economic and Trade Consultations".

A more open China will surely benefit Suriname and the whole world

Faced with unilateralism and trade protectionism, China has been taking a clear-cut stand advocating multilateralism. Upholding the principle of achieving shared growth through discussion and collaboration, China is proposing to jointly promote the Belt and Road Initiative with international partners, and has succeeded in holding the 1st and 2nd Belt and Road Forum for International Cooperation as well as the 1st China International Import Expo, which have brought new opportunities for the development of all countries and, in the meantime, fully demonstrates China's determination to continue to expand its openness and implement a mutually beneficial and win-win strategy.

Since the signing of the "Belt and Road" cooperation agreement between China and Suriname, China has made efforts to link the cooperation initiative to the development strategy of the Surinamese side. Positive progress has been clearly witnessed in several pragmatic cooperation projects between the two countries. Cooperative projects such as road and house constructions have been bringing tangible benefits to the two countries and the two peoples.

No matter how the situation develops, China will always continue to deepen reform and opening up. China's door will not be closed; it will only open even wider. President Xi Jinping announced in his keynote speech at the 2nd Belt and Road Forum for International Cooperation that China would adopt a number of major reform and opening-up measures to promote opening up at a higher level. Measures to be taken include expanding market access for foreign investment in broader areas, strengthening international cooperation on intellectual property protection, increasing imports of goods and services, implementing more effective international coordination on macro-economic policies, and putting more focus on the implementation of opening-up policies. A more open China will have more positive interactions with the world, which in turn will advance the development and prosperity of both China and the world.

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