General

The vast Earth is fully capable of accommodating the development and common prosperity of China and the United States. He hopes that the United States will adopt a rational and pragmatic attitude, work together with China, adhere to the consensus reached during his Bali meeting with President Biden, and implement the relevant positive statements into actions, so as to stabilize and improve China US trade relations.

Afterwards, the Ministry of Foreign Affairs announced that China and the United States had reached five consensus points.

The high-level interaction and communication between China and the United States indicate the necessity of economic and trade cooperation that cannot be ignored, "said Lan Qingxin, a professor at the National Institute of Opening up Studies at the University of International Business and Economics, in an interview with a reporter from China Trade Daily." What China and the United States need is dialogue rather than confrontation, and high-level dialogue lays the foundation for promoting economic and trade cooperation, Resolving economic and trade disputes through dialogue and promoting the development of bilateral trade and investment are the common aspirations of both countries.

Previously, many senior executives of American enterprises visited China, which has reflected the enthusiasm of American enterprises to continue to invest and develop in China. The recent arrival of Elon Musk and Bill Gates has also released a signal that the American business community is actively seeking cooperation with China.

The four "big moves" of Cargill in the United States within two days can also be seen from its recognition of the Chinese market: on June 14, Cargill held the launch ceremony of its new factory of Pet food in Jiaxing, Zhejiang Province, and officially announced the successful completion and operation of its world's first innovative production base of flavored syrup in Pinghu, Zhejiang Province; On June 15th, Hebei Jiahao Grain and Oil Co., Ltd. held the completion ceremony of the second phase project, making the company the largest grain and oil processing plant operated by Cargill in China and the second largest grain and oil processing plant in the world. This will help Cargill better serve the Chinese market, especially the northern market with 300 million consumers. In addition, Cargill Animal Nutrition's Global Innovation Center in Yuncheng, Shanxi Province was officially unveiled.

We value short-term profits and focus more on long-term development. The potential for long-term economic development in China is enormous, and our confidence and commitment to development in China will not be affected by short-term factors. In addition, Cargill attaches great importance to the interests of customers and partners. We have found that they are generally steadfast in investing in China, which gives Cargill strong confidence and encourages us to continue strengthening cooperation with them in China (Robert Aspell) said.

Rooted in the open Chinese market is a common expectation of the American business community. At the 2023 Global Trade and Investment Promotion Summit hosted by the China Council for the Promotion of International Trade, Craig Allen, President of the China US National Committee on Trade, stated in a video speech that, In 2023, Chinese leaders announced at the Two Sessions that China will further promote institutional reform and deepen international cooperation, which greatly encouraged us. American companies have clearly received a positive signal from China from the central to local level that China will continue to optimize its business environment and attract foreign investment.

At the same time, Chinese companies are also constantly expanding into the US market. The Annual Business Survey Report of Chinese Enterprises in the United States released by the US China Chamber of Commerce and the US China Chamber of Commerce Foundation shows that although Chinese enterprises in the United States may also encounter problems, most Chinese enterprises are satisfied with the overall environment of the US market and have developed their own localization strategies to maximize performance growth. Moreover, the ups and downs of the market in the past have also driven Chinese companies to adopt a diversified business portfolio as their main strategy to cope with short-term market fluctuations.

Hu Wei, President of the US China Chamber of Commerce and President and CEO of Bank of China in the United States, stated in the report that "compared to the survey reports of the past decade, it has been found that Chinese enterprises have demonstrated excellent resilience in adapting to the US market and achieving significant development, forming a positive impact, exerting full synergy, and continuously optimizing, regardless of favorable or unfavorable circumstances.

In Hu Wei's view, trade and investment are the cornerstone of China US trade relations and have always shown strong resilience throughout the process of crossing peaks and valleys. Although facing some challenges, the cumulative synergies and benefits brought by cooperation between China and the United States far outweigh the risks. Business leaders and policy makers on both sides can learn from past experiences and grasp future trends to find common ground and promote the healthy development of China US economic and trade relations.

Whether the trade relationship between China and the United States can be stable and improve depends on whether China and the United States can act in a mutually beneficial manner, especially when the United States aligns its words and actions.

"The politicized trend of Sino US trade cooperation is not conducive to the development of both countries." Lan Qingxin said that the Biden government has not only failed to correct the Trump government's mistakes, but also constantly set restrictions on China in the field of trade and investment, such as the implementation of Unilateralism trade protection policies, the imposition of protective tariffs, the continuous tightening of export controls on China, the inclusion of many Chinese enterprises in the control and sanctions list, and the preparation of new foreign investment review policies.

The United States needs to abandon the Cold War mentality, avoid political factors interfering with economic cooperation, and consolidate the foundation of Sino US economic and trade cooperation. "Lan Qingxin said that China and the United States have broad cooperation space in various fields such as manufacturing, digital economy, and green economy. They should resolve disputes in the economic and trade field through dialogue and consultation, reduce trade and investment barriers, and stimulate cooperation potential, creating more mutually beneficial and win-win development opportunities for both sides. (Translated from: China Trade News)