Commerce Minister Gao calls for dialogue to solve trade disputes
February 27, 2017 Category Foreign trade, Weekly
China and the U.S. are able to resolve bilateral trade disputes through dialogue, Commerce Minister Gao Hucheng said. A good relationship between the two countries not only benefits both sides but helps global economic growth and recovery amid a still weak momentum, Gao added. Whatever changes in the U.S. policy toward China, the trade relations between the two nations will eventually return to “the track of mutual benefits and win-win,” he said. China is now America’s largest trading partner and its third largest export destination after Canada and Mexico. “Sino-U.S. trade can be traced back to the 18th century when the Empress of China arrived in China, trading Chinese tea leaves, chinaware and silk with U.S. ginseng, fur and cotton,” Gao said. The ship was the first to sail from the newly independent United States to China, arriving at Guangzhou in August 1784. “In 1979 when China and the U.S. established diplomatic relations, the bilateral trade turnover was merely USD2.5 billion, but 38 years later, the bilateral trade turnover had grown to USD519.6 billion in 2016,” Minister Gao said. U.S. exports to China had created 910,000 American jobs in 2015, he added. When asked about Trump’s criticisms against China, Gao said he did not want to “comment too much” on campaign rhetoric. Instead, China was paying attention to the “attitude” of the new administration towards China trade, Gao said.
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