Amity, not rivalry, good for Sino-US ties

China and the United States are partners, not rivals, in trade, and the Sino-US relationship is one of the most important bilateral relationships in the world. Cooperation between China and the US since the establishment of Sino-US diplomatic relations almost four decades ago has benefited the peoples of both countries, as well as the people in the rest of the world.

Moreover, the US is China's biggest trade partner while China is the US' biggest creditor nation. The trade volume between the world's first and second-largest economies reached $514 billion last year, and the two sides have great potential for deeper cooperation.

True, China has a trade surplus with the US, but the US cannot resolve its trade deficit issue in the short term, because it is the long-term result of economic complementarity, industrial structure and international division of labor. So both sides have to make concerted efforts to balance Sino-US trade.