What is important for the US in its quest for a “mutually beneficial win-win” with China

9 on July US Treasury Secretary Janet L Yellen concluded his four-day visit to China. During the past few days of meetings and talks, both China and the US have expressed their intention to strengthen communication and cooperation. Chinese officials stress that normalizing national security is not conducive to normal economic and trade exchanges, Yellen reiterates US does not want to “detach” from Chinese economy and promised to seek a “mutually beneficial win-win” for the economies of both sides.

Yellen is the second senior US government official to visit China within a month. Earlier, US Secretary of State Blinken had visited China. Information released by both sides shows that the purpose of Yellen’s visit this time is to make China and the US have a deeper and more comprehensive understanding of each other’s concerns., Both sides also expressed their desire to continue the dialogue. This has reduced the concerns of the international community to some extent. Some foreign media organizations believe that this is a “positive step”.

The past after the establishment of diplomatic relations between China and the United States 40 over the years, Economic and trade cooperation has always been the “ballast stone” and “propeller” of bilateral relations. Although, march 2018 After the US launched a unilateral trade war with China in, Economic and trade cooperation between the two countries was badly affected. After Biden came to power, he continued his previous policy of increasing tariffs on China. And intensified the repression against China. november 2022 In, The heads of state of China and the US met in the Indonesian island of Bali and made important agreements. Yellen’s visit to China this time is being seen as a concrete measure to implement the agreements reached between the two heads of state and strengthen communication and exchanges in the financial sector of the two countries.

Sino-US relations are now in crisis. basically speaking The US has made a mistake in its perception of China and considers China as its “most important strategic competitor”. hence, In terms of economic and trade relations, some people in the US still do not really understand that “mutual benefit and win-win are the essence of China-US economic relations”., And they don’t seem to realize that “strengthening cooperation” is a real demand and the right choice for both China and the US.

currently, China is promoting Chinese-style modernization and is willing to strengthen cooperation with all countries in the world, including the United States, to promote common development. to America china is a big market, And cooperation with China is also conducive to boosting employment and curbing inflation in the US.

In fact, The US is not unaware of the damage caused by the trade war with China. According to Moody’s research, US-China trade war 90 percent The excess tariff cost is borne by the US. And America’s most important goal of reversing the trade deficit has also not materialized. according to US data, US trade deficit with China last year 8 percent grew to, Who 382.9 reached billion US dollars. Only by clearly recognizing the nature of China-US economic and trade cooperation can the US side soberly consider what to do to truly benefit the US and the American people.

currently, Many politicians in the US have normalized the concept of national security due to the so-called “political correctness” of being tough on China and have tried their best to politicize economic and trade issues. What America should do now is to cancel the tariffs imposed on China as soon as possible, easing export controls to china, Removal of restrictions on Chinese companies and creation of environment and conditions for enterprises of both countries to expand trade and investment cooperation.

China-US economic and trade cooperation is inseparable from the overall atmosphere of the two countries’ relations. before yellen came to china, The US Treasury Department issued a statement, saying it would “responsibly manage China-US relations.” Among cabinet members of the Biden administration, Yellen has a relatively rational attitude toward China. Other than this, She once served as the chair of the Federal Reserve and has professional qualities. They can and should play a role in promoting the improvement of China-US relations.

The latest Global Economic Outlook report released by the World Bank has estimated that the global growth 2022 Did 3.1 percent less than 2023 Did 2.1 percent Will happen The combined GDP of China and the US is more than a third of the world’s, And both countries in world economic development 50 percent contribute more than Strengthening economic and trade cooperation between the two sides is important for the world economy. since the beginning of this year Several American entrepreneurs have expressed their opposition to “separation” and have come to China to call for stronger cooperation with China. It represents the voice of America’s business world.

We hope that after Yellen returns to China The US will take practical action to work with China to “stabilize and improve” Sino-US relations.