Foreign and Military Affairs

Great benefit for US from Sino-US trade co-op

(chinadaily.com.cn)
Updated: 2011-01-17 18:43

Wide Prospect, Deep Cooperation

- To develop a win-win Sino-US Commercial Relationship

The US is the largest developed country; China is the largest developing country and the largest emerging market. The commercial cooperation between China and US produces giant benefits. The gap in development between the two countries and win-win cooperation are the basis for the steady development of a Sino-US commercial relationship. During the process of globalization, China and the US have began to share many benefits. A win-win Sino-US commercial relationship is good for the people of the two countries and will continue to cement and push the bilateral relationship.

There is an opportunity for cooperation on trade between China and the US. China is currently accelerating in terms of industrialization and urbanization. The mode of development is being regulated. The long- term goal is to widen the domestic need. All those elements will cause giant investment and consumption need. China has the highest number of exports and the second highest number of imports in the world and may become the largest domestic consumption market. That means better opportunities and more development opportunities for the US.

Gao Ruibin, president for Motorola, Inc. China said that Motorola have invested $1.5 billion in research and development in China and they have 2,700 people working on this. "The better China develops, the more chances for us. Motorola has an optimistic view on the China market and hopes to take part in the innovation in China." Gao said. It is reported that many multinational enterprises such as GE, IBM and Coca Cola all take part in and support China's national strategies, such as the change in economic development, energy saving and carbon emission reduction.

"The Chinese government will continue the trade policies of maintaining a basic balance between imports and exports to further deepen the opening up, reform and innovation of China and will make it easier for domestic and foreign investors by creating a more open and optimized investment environment. Foreign enterprises including those from the United States, will share the growing market pie with Chinese enterprises, " an official with China's Ministry of Commerce said.

Experts say that the great achievements of Sino-US economic and trade cooperation are the result of much hard work. The United States should adhere to the concept of free trade and oppose protectionism in all forms of trade and investment.

It should re-evaluate and relax export control measures against China as soon as possible and properly carry out a foreign investment review to reduce unnecessary constraints and promote the investment and cooperation.

Experts also suggest that the United States and China should continue to strengthen macroeconomic policy coordination so as to jointly promote the balanced and sustainable development of the world economy.

Now is a critical period for the deepening development of Sino-US economic and trade relations. The healthy development of Sino-US economic and trade relations will help to promote stable economic growth and the global economic recovery. And only from a strategic and long-term perspective and through the continued promoting of Sino-US economic and trade ties, can greater improvements to the lives of the people from both counties and even the world be achieved.

At a new historical start, we are full of confidence in the future of economic and trade cooperation between China and the United States.

Translation of a People's Daily commentary