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detour before reaching a deal sooner or later, then the economic impact for consumers in China and t
he US, as well as other parts of the world, will be f
airly costly, said Chen Wenling, chief econ omist at the China Center for International Economic Exchanges.
they buy finished products or goods made from r aw materials and components, the tariffs still exist, Chen said.
ion will make goods produced by both countries less co mpetitive and cause large-scale job losses, said Chen.
uo, former vice-minister of commerce, said economic conflict s and trade friction between China and the US that draw global attention will happen fro
m time to time in the future, and these should be rationally regarded and prepared for.
ic and trade consultations, with a goal of implementing the consensuses President Xi Jinping and US President Donald Trump r
eached in December, said Xue Rongjiu, deputy director of the China Society for WTO Studies in Beijing.
China has made various moves recently to expand the new round of reform and opening-up — such as the approval of the Foreign Investm
in March and further facilitating trade connectivity under the Belt and Road Initiative. It will cont inue opening its market in a proactive, steady and orderly manner, in accordance with its own development ne
eds and its own pace and timetable, to benefit Chinese and global consumers across the world, said Tu Xinquan, a pro
fessor of international trade at the Univer
sity of International Business and Economics in Beijing. James Collins, CEO of Corteva Agriscience, the agricultural division of US-bas
Pont, said he hopes the two countries will reach a positive resolution, to benefit both countries and the re st of the
world. Collins said his firm was “not so much affected” in the short term by China-US trade tensions.
of cooperation, defined key areas and strengthened the mechanism to seek high-quality development of the BRI, he said.
Leaders reached wide-ranging agreement on high-qu
ality cooperation on the BRI at the leaders’ roundtable on Saturday after an i n-depth exchange of views on issues such as connectivity, policy integration and sustainable development.
They supported comprehensive infrastruc
ture connectivity as a way to foster economic growth and to build high-q uality, reliable, resilient and sustainable infrastructure, according to a joint communique issued after the roundtable.
ties involved supported strengthening synergies in development policies using the principle of extensive consultations, joint contributions for shared benefits and building even closer partnerships, the joint communique said.
The leaders also upheld green and sustaina
ble growth and agreed to enhance cooperation in areas such as environ mental protection, circular economy and clean energy, according to the communique.
tween China and economies related to the Belt and Road Initiative ex
ceeded $130 billion between 2013 and 2018, inj
ecting new growth momentum into BRI-rela ted countries and contributing to recovery of the global economy, senior Chinese officials said on Monday.
irect investment in BRI-related countries grew by 5.2 percent a nnually on average to surpass $90 billion between 2013 and 2018, Song Lihong, an officia
l in the Ministry of Commerce’s Compreh
ensive Department, said at a news conference. Song said that in the same period, China had received a total of
$40 billion in inbound investment from BRI coun
tries as two-way investment deepened. Within the five years, the value of the projects completed
by Chinese companies in BRI economies amounted to $400 billion, Song said.
The value of trade in goods between China and BRI-related economies exceeded $6 trillion in the same period, an av
rage annual growth of 4 percent, higher than the overall growth of China’s foreign trade, he added.
interest in philosophy, history, literature, culture, music and sports, and that he first cul
tivated many of these interests back in middle sch
ool and they have stayed with him ever since. His job is serving the people, and he works hard with a busy schedule, but takes great pleasure in his work, Xi wrote.
The Niles N
orth students also inquired whether Xi likes the US. Xi answered in the letter that he has visited their country many times and is impressed with the “beautiful landscape, hos
pitable people and diverse culture”, and he made
a lot of friends, including some young people. He said the students are “wonderful” and expressed hope that they will make greater progress in studying Chinese.
g Chinese will help them better understand China, a d get acquainted with more Chinese friends and Chinese-speaking friends across the world, Xi said.