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Dancing With Wolves: Sino US Consultations Fell Into A Halt Yesterday, And The Two Sides Agreed To Continue Negotiations In September.

2019/8/1 12:53:00 2

Sino US TradeNegotiationsStagnation


The twelfth round of high-level consultations on Sino US trade and economic cooperation ended in Shanghai yesterday. The two sides conducted a frank, efficient and constructive in-depth exchange and agreed to hold the next high-level consultations in the United States in September. This result is quite consistent with the expectation before public opinion. Consultation has been stagnant because of major differences on several issues. Public opinion did not expect much breakthroughs in the nearly 3 months after the resumption of the consultations. Instead, it believed that the focus of the talks was to show friendly dialogue and play a role in linking the past and the future. The world's two largest economies need to overcome their differences and reach agreement.

The media generally noticed that during the consultations, the US side made a tough stance on love show. President Trump on twitter preached how bad the Chinese economy was, how good the United States was, and put pressure on him that if he reached an agreement again after his re-election next year, the agreement would be more severe than it is now. It seems that the US authorities facing reelection pressure are indeed more anxious than China. "At this time, it is meaningless for the American side to try to put pressure on the limit. As a matter of fact, it is useless for others to take medicine when they are sick. In my opinion, on the issue of economic and trade negotiations, the US side should show more sincerity and integrity. Chinese Foreign Ministry spokesman Hua Chunying said at a press conference yesterday.


   Frank, efficient and constructive communication

Following the evening of the two sides' work dinner at the the Peace Hotel in Shanghai in July 30th, the consultation in July 31st was transferred to Shanghai West Hotel. Agence France-Presse reported that Chinese Vice Premier Liu He shook hands with the US trade representative, Wright shester, and finance minister Mnuchin before the media talks on Wednesday. The two sides held closed door consultations for about 4 hours. The Associated Press said the talks ended in the afternoon, 40 minutes earlier than expected. Since then, lettse and Mnuchin and others rushed to the airport.

The website of the Ministry of Commerce issued a press release later that day, indicating that the two sides had conducted frank, efficient and constructive in-depth exchanges on major issues of common concern in the field of economic and trade in accordance with the important consensus of the two heads of state meeting in Osaka. The two sides also discussed the need for China to increase itself from the United States according to domestic needs. Agriculture products ( Five point three two zero , -0.08 , -1.48% ) Procurement and the US side will create favorable conditions for procurement. Minister of Commerce, Zijin Mountain, President of the people's Bank of China, Yi Gang, deputy director of the national development and Reform Commission, Ning Jizhe, deputy director of the central finance office, Vice Minister of finance Liao Min, Vice Minister of foreign affairs Zheng Zeguang, Vice Minister of Ministry of industry and information technology, Wang Zhijun, deputy director of the central agricultural office, Han Jun, Vice Minister of agriculture, agriculture and village, Vice Minister of Commerce and deputy representative of international trade negotiations, Wang Shouwen participated in the consultation. The two sides will hold the next round of high-level economic and trade consultations in the US in September.

Since then, the US side has issued similar statements, saying that the two sides discussed issues such as compulsory technology transfer, intellectual property rights, services, non-tariff barriers and agriculture. China has confirmed that it will increase its commitment to buy US agricultural products. The conference is constructive. We look forward to continuing consultations on an enforceable trade agreement in Washington in early September.

"China and the United States will hold more consultations after constructive talks," Agence France-Presse said. The Chinese and US negotiators agreed to meet again in September. Peng Jiening, vice president of the US China Trade Commission, which represents the commercial interests of the United States, said he was pleased that the two sides agreed to promote the procurement of agricultural products, and hoped that the representatives of the two sides would continue to adopt a pragmatic and realistic approach to achieve compromise and agreement.

The results of the talks are basically the same as those expected by the media. Before the end of the talks, Reuters quoted sources in the report as saying that the focus of the Shanghai consultation is to show "friendly" attitude, such as China's commitment to buy US agricultural products, and the US side to take measures to relax some sanctions against HUAWEI, China's communications equipment giant. Agence France-Presse said that after the two leaders reached a "truce" agreement in June this year, launching trade talks is seen as a positive step even though it is not expected that there will be substantial progress in G20.

After the announcement of the outcome of the consultation, the New York Times said the meeting was the first formal consultation between the two sides since the talks broke nearly 3 months ago. Despite some tough comments from both sides, the talks began in a positive way. The talks in Shanghai were also the first time the two sides held consultations outside Beijing and Washington.

Gao Lingyun, a researcher at the Institute of world economics and politics of the Chinese Academy of Social Sciences, told the Global Times reporter that before the next round of consultations between China and the United States in September, Chinese enterprises may purchase some agricultural products from the United States according to their needs. The size and rhythm of purchases will be closely related to the United States' corresponding acts of goodwill, such as the issue of HUAWEI, or the exemption from tariff products before.

On July 31st, at a joint press conference held after the China ASEAN foreign ministers' meeting, Chinese Foreign Minister Wang Yi said in answer to a reporter's question that the latest round of Sino US negotiations has just ended. This consultation is not only the achievement of implementing the Osaka meeting between the two heads of state, but also echoing the expectations of the international community. The consultations between the two sides are frank, efficient and constructive. They are the beginning of the new process. So long as the two sides earnestly carry out consultations on an equal footing, it is always possible to achieve mutually beneficial and win-win solutions, which are not only in the interests of China and the United States, but also in the interests of the world. This proves that no matter whether there are any problems or complex contradictions between the two countries, both sides should sit down and talk.

   Pressure and threat will not work.

When the United States and China held consultations in Shanghai, the United States released complicated information. The New York Times reported on July 30th that US Congressmen revealed that after several trade advisers challenged President Trump, the US arms sale case for the sale of a new F-16V fighter to Taiwan was temporarily shelved. Some members questioned whether the Trump administration's move was intended to avoid provoking Beijing on the occasion of delicate trade negotiations or using it as bargaining chip. On the same day, during the visit to Brazil, US Secretary of Commerce Ross said that the US government may decide next week on the application of US companies to sell products to HUAWEI.

What is more concerned is Trump's pressure on China. On Tuesday, he repeated several tweets, accusing China of failing to fulfill its promise to buy US agricultural products, and advocating "China's situation is very bad". "The US economy has become much larger than China's economy in the past 3 years". Trump also pressed that if he had to wait until next year's general election before he signed the agreement, it would be a much worse deal.

"Some people in the US say that China's economy is very bad, but one obvious fact is that China's economic growth in the two quarter of this year was 6.2%, while that in the United States was 2.1%. 6.2% and 2.1% which is better and which is worse, it is not difficult to make a clear judgement. Hua Chunying said at a press conference in July 31st. She also said that for more than a year, Sino US economic and trade consultations were unsuccessful, unspoken and volatile. China's position on economic and trade consultations is consistent. In the negotiation of Sino US economic and trade teams, neither smoke bombs nor extreme pressure are constructive. The important thing is to let the two sides work in a spirit of equality and mutual respect, settle down quietly, honestly and sincerely, and try to resolve their differences or concerns.

Some American media do not approve of Trump's statement. According to the Wall Street journal, a senior Democratic senator who opposed tariffs was not pleased with Trump's comments. Chuck Grassley, chairman of the Senate Finance Committee, said: "I don't think you should read this tweets. You should forget it." Grassley continued: "forget his tweets and say," how lucky! Now lettse and Mnuchin are sitting with the Chinese negotiators in Shanghai. When they start negotiating, they will have some chance of achieving some results. " The Washington Post said that tweets suggested that it might be far from reaching a final agreement. Chinese officials have shown that the repeated threats from the US will not work.

   The negotiation process lasted for a long time.

Russia's Independent newspaper said China would not succumb to the pressure of the United States, because the details of the negotiations are directly related to the long-term development of the national economy, and the negotiation process may continue for a long time.

As for the possibility of long-term negotiations, Gao Lingyun, a researcher at the Institute of world economics and politics of the Chinese Academy of Social Sciences, told the Global Times reporter that our bottom line is clear. As long as the trade agreements between the two countries are mutually respectful, reasonable and balanced, they can be signed at any time. The Chinese side, of course, hopes to reach an agreement earlier because there is no winner in the trade war, which will bring some unnecessary losses to China and the United States. However, due to some practical differences and difficulties, the process of consultation or negotiation may be longer. Even if we drag on, we are not afraid. China's economic situation in the first half of the year is very clear. Even if we have some difficulties, there is no change in stability. China has the ability to cope with the impact of trade war. "Even after Trump's re-election, things will not necessarily be worse."

"Although Trump insists that trade conflicts are the most damaging to China, experts say trade wars are hurting the US economy and may exacerbate the global economic slowdown." The Washington Post said Federal Reserve Chairman Powell pointed out that the adverse factors brought by the trade war were the main reasons for the possible reduction of interest rates by the Federal Reserve. The New York Times also expressed the same view. The article said Trump reiterated his view on Tuesday that the US economy is benefiting from its imposed tariffs and that all the pain of trade war is borne by the Chinese side. Businesses and economists disagree. They say trade wars are damaging the US economy.

According to the US CBS report, tariffs are leading to slower growth in certain sectors of the US economy, according to the brown book published earlier this month by the Federal Reserve. The latest data released last Friday showed that the US GDP growth slowed to 2.1% in the second quarter. The organization called "tariff harming the hinterland of the United States" reminds the White House to note: "no one will lose in trade wars, including the United States. Americans have already paid $30 billion in tariffs, farmers are about to go bankrupt, and trade wars are dragging down economic growth. Look at the last quarter's GDP.

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