Full Text:The Facts and China's Position on China-US Trade Friction.doc
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1、1The Facts and Chinas Position on China-US Trade FrictionInformation Office of the State CouncilThe Peoples Republic of ChinaSeptember 20182CONTENTForeword .3I. Mutually-beneficial and win-win cooperation between China and the US in trade and economy.6II. Clarifications of the facts about China-US t
2、rade and economic cooperation .17III. The trade protectionist practices of the US administration.41IV. The trade bullyism practices of the US administration.52V. Damage of the improper practices of the US administration to global economy.61VI. Chinas position .673ForewordChina is the worlds biggest
3、developing country and the United States is the biggest developed country. Trade and economic relations between China and the US are of great significance for the two countries as well as for the stability and development of the world economy.Since the establishment of diplomatic relations, bilatera
4、l trade and economic ties between China and the US have developed steadily. A close partnership has been forged under which interests of the two countries have become closer and wider. Both countries have benefited from this partnership, as has the rest of the world. Since the beginning of the new c
5、entury in particular, alongside rapid progress in economic globalization, China and the US have observed bilateral treaties and multilateral rules such as the WTO rules, and economic and trade relations have grown deeper and wider. Based on their comparative strengths and the choices of the market,
6、the two countries have built up a mutually beneficial relationship featuring structural synergy and convergence of interests. Close cooperation and economic complementarity between China and the US have boosted economic growth, industrial upgrading and structural optimization in both countries, and
7、at the same time enhanced the efficiency and effectiveness of global value chains, reduced production costs, offered greater product variety, and generated enormous benefit for businesses and consumers in both countries. China and the US are at different stages of development. They have different ec
8、onomic systems. Therefore some level of trade friction is only natural. The key however lies in how to enhance mutual trust, promote cooperation, and manage differences. In the spirit of equality, rationality, and moving to meet each other halfway, the two countries have set up a number of 4communic
9、ation and coordination mechanisms such as the Joint Commission on Commerce and Trade, the Strategic and Economic Dialogue, and the Comprehensive Economic Dialogue. Each has made tremendous efforts to overcome all kinds of obstacles and move economic and trade relations forward, which has served as t
10、he ballast and propeller of the overall bilateral relationship.Since taking office in 2017, the new administration of the US government has trumpeted “America First”. It has abandoned the fundamental norms of mutual respect and equal consultation that guide international relations. Rather, it has br
11、azenly preached unilateralism, protectionism and economic hegemony, making false accusations against many countries and regions - particularly China - intimidating other countries through economic measures such as imposing tariffs, and attempting to impose its own interests on China through extreme
12、pressure. China has responded from the perspective of the common interests of both parties as well as the world trade order. It is observing the principle of resolving disputes through dialogue and consultation, and answering the US concerns with the greatest level of patience and good faith. The Ch
13、inese side has been dealing with these differences with an attitude of seeking common ground while shelving divergence. It has overcome many difficulties and made enormous efforts to stabilize China-US economic and trade relations by holding rounds of discussions with the US side and proposing pract
14、ical solutions. However the US side has been contradicting itself and constantly challenging China. As a result, trade and economic friction between the two sides has escalated quickly over a short period of time, causing serious damage to the economic and trade relations which have developed over t
15、he years through the collective work of the two governments and the two peoples, and posing a grave threat to the multilateral trading system and the principle of free 5trade.In order to clarify the facts about China-US economic and trade relations, clarify Chinas stance on trade friction with the U
16、S, and pursue reasonable solutions, the government of China is publishing this White Paper.6I. Mutually-beneficial and win-win cooperation between China and the US in trade and economyEconomic and trade relations have developed steadily since the establishment of diplomatic ties between China and th
17、e US, with fruitful results achieved in trade and investment. China benefits remarkably from the strong synergy, while the US also reaps extensive economic benefits from the opportunities and results generated by Chinas growth. It is self-evident that a sound China-US economic and trade relationship
18、 is very important for both countries. Cooperation serves the interests of the two sides and conflict can only hurt both.1. China and the US are important partners for each other in trade in goods.Two-way trade in goods has grown rapidly. Chinese statistics show that trade in goods between China and
19、 the US in 2017 amounted to US$583.7 billion, a 233-fold increase from 1979 when the two countries forged diplomatic ties, as well as a seven-fold increase from 2001 when China joined the World Trade Organization. Currently, the US is Chinas biggest export market and sixth biggest source of imports.
20、 In 2017, the US took 19% of Chinas exports and provided 8% of Chinas imports. China is the fastest growing export market for US goods and the biggest source of imports of the United States. In 2017, 8% of US exports went to China.US exports to China are growing much faster than its global average.
21、Since its accession to the WTO, China has become an important market for US exports, which have grown rapidly. UN statistics indicate that in 2017 US exports of goods to China amounted to US$129.89 billion, a 577% increase from US$19.18 billion in 2001, and far higher than the 112% average growth 7r
22、ate of overall US exports (Chart 1). 1Chart 1: US Exports to China Grow Faster than its Global Export Trade (%)17.20 3.90 24.30 31.90 9.10 21.80 17.20 17.40 -4.80 31.70 19.60 8.80 14.80 4.20 -6.50 -9.10 14.50 -6.75-4.944.5712.4310.5813.8611.91 12.13-17.9721.0615.964.262.192.59-7.28-3.436.6-30.00 -20
23、.00 -10.00 0.00 10.00 20.00 30.00 40.00 US Export to ChinaUS Global ExportSource: UNCTADChina is an import market for US goods such as airplanes, agricultural produce, automobiles, and integrated circuits. China represents the No. 1 export market for US airplanes and soybeans, and the No. 2 export m
24、arket for US automobiles, IC products and cotton. In 2017 China took 57% of US soybean exports, 25% of Boeing aircraft, 20% of automobiles, 14% of ICs and 17% of cotton.China-US bilateral trade has a strong complementarity. The US stands at the mid-and high-end in global value chains and it exports
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