'Decoupling' of China, US disastrous for world economy, says Chinese ambassador

WASHINGTON -- Chinese Ambassador to the United States Cui Tiankai warned Wednesday that the so-called "decoupling" of China and the United States would be disastrous for both economies and the world economy at large.

China will open its door wider to the United States and look forward to more cooperation at various levels, Cui said at a reception for the 40th anniversary of the establishment of China-US diplomatic relations and the Chinese New Year at the Chinese embassy.

Cui urged both countries to remain open to each other and become more connected instead.

"We are the two largest economies in the world. Each has its own strengths. Each is complementary to the other. Both have much greater opportunities if we stay open to each other. Both will be much more prosperous if we cooperate with each other," Cui said.

Cui also extended an invitation to the United States to participate in the 2nd Belt and Road Forum for International Cooperation, which will be held in China in April this year.

US Secretary of Commerce Wilbur Ross, National Security Council Senior Director for Asian Affairs Matt Pottinger, a number of members of Congress and about 750 guests attended the reception.

The People's Republic of China and the United States formally established diplomatic ties on Jan 1, 1979.

Bilateral trade grew from a negligible $2.5 billion in the late 1970s to over $580 billion in 2017, while the stock of two-way investment rose from practically nil to more than $230 billion.