Xie Feng and China’s Stance on Trade: A Call for Dialogue Amid Strained Relations

by / ⠀Featured News / July 20, 2023
Xie Feng and China's Stance on Trade: A Call for Dialogue Amid Strained Relations

As trade tensions continue to cast a shadow over Sino-American relations, China’s Ambassador to the U.S., Xie Feng, delivers a message of hope and cooperation. In a speech at the Aspen Security Forum, Xie emphasized China’s reluctance to engage in a trade war with the United States. Rather, the nation seeks to foster stability and a healthy relationship between the two economic giants.

China’s Call for Cooperation and Stability Amidst Trade Tensions

“Definitely it’s not our hope to have a tit-for-tat,” Xie Feng stated firmly, firmly dispelling any notion of aggression. “We don’t want a trade war, technological war. We want to say goodbye to the Iron Curtain, as well as the Silicon Curtain.” China’s aspirations for a more open and collaborative relationship are evident in this plea for mutual respect and understanding.

However, the Ambassador expressed his concerns over the U.S.’s approach to competition. “China does not shy away from competition, but the definition of competition by the U.S. side I think is not fair,” Xie Feng candidly remarked. The Chinese government feels that the U.S. is wielding its technological prowess to gain an unfair advantage and restrict China’s access to crucial components, such as those necessary for its tech giant, Huawei.

Xie Feng’s analogy of restricting the other side to outdated swimwear in a swimming contest while wearing a Speedo highlights the asymmetric nature of this competition. The need for fairness and equity in global trade becomes evident in this vivid portrayal.

Despite the tensions and disagreements, both China and the U.S. have taken steps towards dialogue. The U.S. special envoy on climate, John Kerry, finished talks with Chinese representatives, emphasizing the importance of cooperation in addressing climate challenges. Additionally, Treasury Secretary Janet Yellen visited Beijing in July, focusing on the economic aspects of the bilateral relationship.

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While the dialogue attempts to ease tensions, Yellen acknowledges the potential risks of China’s economic slowdown. China’s GDP growth slowed to 6.3% in the second quarter due to various economic factors. Yellen asserts that while many countries, including the U.S., depend on strong Chinese growth, the U.S. labor market remains robust, and she does not foresee an imminent recession.

In the spirit of promoting cooperation, Xie Feng expressed China’s eagerness for a “stable, healthy relationship” with the United States. He proposed immediate “concrete” improvements in bilateral relations. These improvements could involve facilitating people-to-people exchanges, increasing the number of passenger flights between the two nations, and revisiting the countries’ cooperation agreement on science and tech. Such efforts aim to bridge the divide and foster a more constructive and mutually beneficial partnership.

China’s call for cooperation and stability is grounded in the belief that a harmonious relationship between the world’s two largest economies can drive progress, prosperity, and global development. As the international community closely observes these diplomatic overtures, it remains hopeful for a brighter and more harmonious future in Sino-American relations.

FAQs

Q: What is China’s stance on a trade war with the U.S.?

A: China does not seek a trade or technological war but will retaliate against further restrictions.

Q: What has China criticized the U.S. for?

A: China denounces U.S. restrictions on microchip sales, deeming the definition of competition unfair.

Q: How are U.S. and China addressing strained relations?

A: Both sides engage in dialogue, with John Kerry and Janet Yellen conducting talks with Chinese officials.

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Q: What is the risk to the U.S. from China’s economic slowdown?

A: There is a risk of contagion, but Janet Yellen does not expect a recession in the U.S. this year.

Q: What are some concrete improvements proposed by China?

A: China suggests increasing passenger flights between the countries and renewing cooperation on science and technology.

First reported on Fox Business

About The Author

Kimberly Zhang

Editor in Chief of Under30CEO. I have a passion for helping educate the next generation of leaders.

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