Trade with China is win-win in nature

It is good news for the world economy and market that the heads of state of China and the United States had dinner and a constructive meeting on the sidelines of the G20 Summit in Argentina on Dec 1, reaching important consensuses, including one to stop imposing new additional tariffs pending the 90-day-deadlined talks. This result has eased the anxiety over economic growth and market stability in the two largest economies as well as the rest of the world.

As the new consul general of China to San Francisco, I have visited all five US states of my consular areas - California, Nevada, Oregon, Washington and Alaska - since taking office this August. Many American friends I have had the pleasure of talking with expressed the hope that the Sino-US trade conflict could come to an early end to avoid further harm to US companies and customs.

To prevent the Sino-US trade conflict from escalating further is in the interests of both sides, as they are economically intertwined. For instance, more than 50 million iPhones were sold on the Chinese mainland last year, increasing the number of iPhone users there to over 300 million, close to the US population. Also, Nike Inc's revenue growth in China surged 21 percent in the fiscal year 2018 to $5.13 billion, accounting for 14 percent of its total sales globally.