BEIJING: Efforts to stabilize business ties between China and the United States and prevent economic “decoupling” will prove beneficial for companies and consumers in both countries, amid factors including mounting instability and uncertainty in the global economy, experts and business leaders said on Sunday.
They also said that, with a much-anticipated meeting between the leaders of the two countries drawing near, more positive signals need to be sent, as such signals can help bolster confidence in not only both countries’ economic growth, but global economic recovery as well.
Zhang Yansheng, chief researcher at the China Center for International Economic Exchanges, said, “There are some extremists in the US who pursue ‘economic decoupling’ from China, and it is critically important for the two countries to rely on stable and high-level communication and dialogue mechanisms to discuss matters of concern and improve bilateral economic ties.
“As they are the world’s two largest economies, improvement to their economic relations will inject greater positive energy into the world economy, especially as inflation in the US persists while global investment and trade slow down sharply,” Zhang said.
Furthermore, uncertainties in China-US economic relations have had a negative impact on the development of other countries that rely heavily on global trade.
Li Haidong, a professor at China Foreign Affairs University’s Institute of International Relations in Beijing, said that restrictive US measures toward China, particularly in the field of advanced technology, will ultimately backfire.
This will cause great damage to the interests of US companies, and the companies cannot afford to abandon China’s huge market, Li said.
Zhang said it is unfair for the US to have added so many Chinese enterprises to its “entity list”, an export blacklist, and it will be of great significance for China to express its concerns over matters like that through dialogue. –The Daily Mail-China Daily news exchange item