China, US must seek new balance of trade

Experts: Bilateral ties based on mutual benefits and comparative advantages

China and the United States need to establish a new balance of trade, finance and technology cooperation, while avoiding a full-blown confrontation amid intensified tensions, experts said.

Their comments came as Washington threatened to impose an additional 10 percent tariff on $300 billion worth of Chinese goods starting Sept 1, and labeled China "a currency manipulator".