BIZCHINA> Review & Analysis
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BIZCHINA> Review & Analysis
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More cooperation, less barriers
By Shen Dingli (China Daily)
Updated: 2009-09-15 16:47 Indeed, the large amount of Chinese products in the US supermarkets increased the purchasing power of American medium- and low-income groups and improved their living quality. But in this case, both China and the US could not get a complete win-win result. While enjoying cheap products, the US must bear the cost of relative recession of the same-type products. The benefit brought by improving the purchasing power means nothing to the jobless because it is employment - rather than commodity prices - that is the key source of living security for the ordinary US people. There are many complicated conflicts in the Sino-US economic linkage, which is traditionally seen as a binder of bilateral ties. While a lot of people benefit from Sino-US economic and trade cooperation, some suffered. Even if there was no sluggishness in import demand in the US caused by the financial crisis, China's ever-increasing export to the US could mean less quotas left for other developing countries, which in turn makes it hard for the latter to agree that China's development will bring them more opportunities.
Within the complicated context of Sino-US relationship, instead of accusing each other and arbitrarily imposing trade sanction and counter measures, the two parties should try to see each other's viewpoint and maintain bilateral relations in the spirit of criticism and self-criticism. With the launch of Sino-US Strategic and Economic Dialog, the two countries are trying to respect and take care of their respective core national interest, including each other's domestic employment rate. Therefore, when the US government decided to levy heavy tariff on tire imports from China for raising its own employment rate in tire industry, it should actively take Chinese tire workers' job opportunities into consideration. As Chinese manufacturers continually expand tire export to the US, they also should consider the relevant economic and political impact to ease the anxiety of their American peers. As long as China and the US have consideration for each other, their disputes on trade and in other fields will not escalate but can be successfully dissolved. As the biggest economy in the world, the US undertakes more responsibility and competence to assist developing countries. The nature and reality of China's socialism necessitate the pursuit of happiness for people in the world. The two parties should put more emphasis on cooperation and mutual benefit and recognize the principle of settling their disputes through dialog and cooperation. The author is a professor and director of the Center for American Studies at Fudan University. (For more biz stories, please visit Industries)
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