Trade friction harms Washington

US actions provoking economic and trade friction with China won't bring any benefit to Washington, so it should adopt a rational approach to solve the disputes as soon as possible, said Carlos Velez, president of the China-Spain Business Association.

"The unilateralism that the United States is holding to or the recent tariff policies imposed on other countries won't benefit the United States," Velez said, adding that he is looking forward to seeing some progress in solving the current disputes after the G20 summit in Japan later this month during which President Xi Jinping and US President Donald Trump are going to meet.

"The US doesn't have any advantages in this economic and trade friction with China," he said. "I hope the US will change its stance and be more rational.

"The US' current policies with extreme pressure might work when it comes to those countries that have weak economic foundations, but will not work for China. This kind of policy should be ended as soon as possible."

The development of China, a firm supporter of globalization and multilateralism, represents the quality and direction of the world's future scientific and technological development, he said.

Unilateralism

He urged the international community to have an awareness of unilateralism, and called on China and the European Union, both major economic powers, to strengthen cooperation in fighting against unilateralism.

Velez also has great expectations of cooperation between China and Spain, as there are still many aspects that can be developed.

"As Spain has many trade partners in important markets including the EU, Africa and Latin America, I think Spain could be a window to help Chinese companies enter these markets," he said.

The European Chamber business confidence survey, which was conducted as US-China trade tensions have been increasing, noted that European businesses are still very committed to the Chinese market, both as an industrial base, but also increasingly as an outlet market.

"The resilience of European businesses' commitment to the market despite the many challenges here shows the importance of China in many corporate strategies," said Denis Depoux, the Asia head of German consultancy firm Roland Berger.

"It's no longer just about being close to customers, but is also about access and exposure to the many cutting-edge innovations coming from Chinese entrepreneurs. Those who aren't here run the risk of falling behind," he said.

chenyingqun@chinadaily.com.cn

(China Daily 06/22/2019 page8)