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Leaders discuss trade friction at S&ED

CCTV.com

06-07-2016 16:34 BJT

Full coverage: 8th China-U.S. S&ED & 7th CPE

Trade friction between China and the USA is a topic that's definitely getting a lot of coverage at the Strategic and Economic Dialogue in Beijing. CCTV interviewed economics experts from the American think tank Brookings Institution ..and they say the leaders of the U.S. and China should look beyond recent disputes to focus on the bigger picture.

US political experts believe the Strategic and Economic Dialogue is an important platform for building much-needed political trust between China and the United States. The experts hope to see constructive discussions come from the meeting.

"Although there are many disagreements between the two countries due to different political systems and economic development situations, the dialogue will be very important for bilateral ties, the wider region, as well as the world," said Li Cheng, director John Thornton China center, Brookings Inst.

However, complicating negotiations are a series of U.S. anti-dumping and anti-subsidy decisions involving Chinese steel manufacturers since May. Experts say the US should avoid completely laying the blame on Chinese businesses, and should also look at other economic factors domestically in the US.

Experts says US politicians should avoid the temptation of finger-pointing at Chinese manufacturers to appeal to domestic workers. Instead, focusing on the bigger picture is more important in the long term.

"China is going through economic transitions, and this will benefit the USA, which is in turn an important trade partner for China. America places great focus on technological innovation as well as environmental protection. These are aspects that make the two economies complementary to each other," he said.

Li believes that because this round of the Strategic and Economic Dialogue is the last in the Obama administration, its outcome might set the tone for the next meeting under a new administration.

 

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