Oppose commercial harassment, adopt mutually beneficial cooperation

By Sun Weidong

Recently, the United States has intensified trade friction with China, has repeatedly imposed tariffs and increased tariffs on Chinese exports. It even threatens to require American companies to leave China. Such commercial intimidation defies multilateralism and the rules with unilateralism and power politics. It will only cause a lost scenario in which both the US and world economy suffer seriously.

Unilateral trade protectionist measures and maximum pressure seriously violate the consensus between the leaders of China and the United States and go against the principle of mutual respect, equality and mutual benefit. As Trade negotiations between China and the United States started in February 2018, USA UU. He has returned to his words and has broken his promises several times.

In May 2018, USA UU. Violated the consensus of no trade war stipulated in the Joint Declaration between the two countries reached that month. In May 2019, USA UU. overthrew the consensus of no new tariffs reached between the two leaders in Argentina. In August of this year, he again broke the promise of no additional tariffs on Chinese exports reached during the Osaka summit of the two leaders. The United States is solely responsible for the prolonged trade talks between the United States and China.

The United States accusations against China are unfounded. The United States qualified China as a currency handler, but recently IMF The report reaffirmed that the RMB exchange rate basically conforms to China's economic fundamentals. The United States accused China of not taking concrete measures to buy American agricultural products.

In fact, China has bought a large amount of US soybeans, sorghum, wheat and pork. The United States said that China did not take effective measures and stopped the export of fentanyl to the United States, despite the fact that the Chinese government adopted a zero-tolerance approach to drugs and took effective measures to strictly regulate fentanyl. The cliché of China stealing intellectual property rights makes no sense, since China's vigorous measures and rapid progress in the protection of intellectual property rights are greatly appreciated worldwide.

In addition to exerting maximum pressure on the trade issue, the United States has taken a series of wrong steps to interfere with China's internal affairs and undermine China's core interests, including in matters related to Taiwan and Hong Kong. China is ready to work with the United States to boost a China-United States relationship that is coordinated, cooperative and stable. We urge the United States to act rightly and stop doing things wrong.

China will resolutely safeguard its sovereignty, security and development interests. We will never give in on major issues of principle, nor bow to any maximum pressure, coercion or blackmail. The Chinese nation is peaceloving. Aggressiveness is not in our DNA. But if the fight is brought to our doorstep and China's interests are endangered, we will hit back resolutely. China doesn't want trade war , but is never afraid of it. We have confidence and resilience to meet any risks and challenges.

Trade bullying is poisonous. It hurts oneself as well as others. The unilateral trade protectionist measures by US seriously violate WTO rules, damage multilateral trading system and normal international trade order, disrupt global industrial and supply chains, and have a recessionary effect on world economy. An IMF report indicates the escalating US-China trade war could reduce world economic output by 0.5 percent, or about $455 billion, in 2020. According to a poll, 35% of those from US business community believe US economy will slip into recession within 12 months. The manufacturing PMI in US fell below 50 for the first time since 2009 as the sector contracted. The threat of decoupling US and Chinese economies has triggered a sharp fall in US stock market and commodity prices. It has been strongly questioned and opposed by all stakeholders, including US companies.

Multilateralism will replace unilateralism. The win-win cooperation will replace the zero-sum game. This is an irreversible trend in history. The necessary countermeasures that China takes against the United States are aimed at defending multilateralism and free trade. This serves the common interests of the international community. China's door to reform and opening will not close. It will only open more and more to offer more opportunities to other countries. This year marks the 70th anniversary of the founding of the People's Republic of China. China has become the second largest economy in the world and has contributed more than 30% to global economic growth for many years. China's achievements show that peaceful development, openness, inclusion and mutually beneficial cooperation lead to the prosperity of a country and the happiness of its people. China will be shoulder to shoulder with the world, follow the trend of the times, fulfill its responsibilities and defend justice and the common good. China will unwaveringly advocate economic globalization, defend the multilateral trading system with the WTO at its center and jointly promote an open global economy.

China and India are the main developing countries and emerging economies. Both have the historical mission of achieving national renewal and people's happiness. Both need a favorable and stable external environment to achieve these objectives. India itself has experienced the pain of commercial harassment.

If commercial harassment gets its way and the global free trade system is undermined, the rest of the world will also suffer the spread. China and India share interests in maintaining normal world trade order and advocating for mutually beneficial cooperation. I believe that people with vision here will realize that China and India have the responsibility and need to jointly oppose commercial harassment, defend the multilateral trading system and the interests of developing countries, and build a new kind of international relations. and a community with a shared future for humanity.

The author is the Chinese ambassador to India.