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China-US Trade Talks Signal Positive Signs For Global Economy

At the just-concluded China-US summit on economic and trade affairs in Switzerland, China and the US conducted candid, in-depth and constructive communication in various fields, reaching a series of important consensuses and making substantive progress. 

This marked an important step towards resolving differences through equal dialogue and consultation, and laid the foundation and created conditions for further bridging gaps and deepening cooperation. 

With combined economic output accounting for more than one-third of the global economy and bilateral trade volume accounting for about one-fifth of global trade, China-US trade relations play a vital role in the world economy. 

Amidst the slow global recovery and rising geopolitical tensions, the importance of keeping channels of communication open between the two sides is particularly evident. 

The substantive progress achieved reflects joint efforts to manage differences and find common ground in a complex global environment. 

China has consistently taken a consistent and constructive approach in its economic relations with the US, with the aim of returning bilateral relations to a stable and healthy track through dialogue and consultation. Positively, the US has shown its willingness to engage in the process. 

However, the damage that has been done cannot be ignored. In the past month, unilateral tariffs imposed by the US have had a significant impact, not only on the Chinese and US economies, but also on the global economy. Domestically, US businesses and consumers have paid more, while US inflationary pressures have continued to rise. 

The global impact is even more worrying. These tariffs have disrupted the stability of global supply chains and industries and undermined the rules-based multilateral trading system. 

International institutions such as the IMF and the World Bank have repeatedly warned that protectionism poses a major threat to the global economic recovery. In this context, the latest round of China-US talks provides a much-needed signal of stability and certainty. 

The positive outcome of the latest talks reaffirms that for major countries, equal and constructive dialogue, rather than confrontation, is the only effective way to resolve differences. 

Given the different national contexts and priorities, differences of opinion are natural. What is most important is that these differences are managed with mutual respect for each other’s core interests and through sustained dialogue. 

No country will surrender its legitimate development rights to unreasonable demands. Through equal dialogue and consultation, both sides can clearly express their concerns, clarify misunderstandings, and explore the root causes of friction. 

The US itself has an interest in maintaining stable, sustainable, and mutually beneficial economic relations with China. Decades of mutually beneficial cooperation in two-way trade, services, and investment have brought tangible benefits to businesses and people on both sides. Despite recent tensions, the foundation of these common interests remains strong. 

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Tag: China China-US Global Economy