So-called 'decoupling' of the US with China 'disastrous' to all

Development and innovation of science and technology in the era of digital economy is a process of the succession and integration of systems, which cannot be completed on one's own strength. Even if independence could be realized at the technology end, it could not be achieved in a real sense in application. Therefore, development and innovation of new technology emphasize more than ever cooperation and sharing.

Besides, from the perspective of economic governance, decoupling will damage the global supply of public goods, Zeng said.

Currently, mankind is facing many common problems and challenges. Without a global supply system of public goods, every country would act in its own way and the consequences would be inconceivable.

"China and the US need to work hand in hand to provide the world more public goods rather than exit or even damage the existing system," he urged.

The former vice premier insisted that both countries need to understand that their development can complement and reinforce each other. He cited the 13th round of trade negotiations, noting that these discussions have made substantive progress in various areas.

Zeng said the two countries had a fruitful relationship in the last four decades and that their economic cooperation has also promoted growth in the Asia-Pacific region. Likewise, the onset of the trade friction in 2018 has eased growth not only in the US and China but the rest of the world. He cited the latest forecast of the International Monetary Fund which puts global economic growth rate this year at 3 percent – the lowest since 2008.

"To oppose decoupling and step up cooperation is the only option that serves the interests of China and the US. It is also the common aspiration of the whole world," Zeng told the guests.