Wang says economies of China, US inseparable
Source: Agencies |
December 21, 2012, Friday
|
Print Edition
Print Edition
The economies of China and the United States have become "interdependent and inseparable," a top Chinese official said after high-level trade talks which were being watched for signs of how the two powers will cooperate after their respective political transitions.
Vice Premier Wang Qishan was speaking on Wednesday after the annual US-China Joint Commission on Commerce and Trade. Tackling dozens of thorny, detailed trade issues, the two days of talks were short on big outcomes but set an upbeat tone.
Wang said recovery of the world economy in the next five years will be sluggish, so the US-China economic relationship had acquired critical importance.
"Our two countries have to strengthen our economic relationship. We have to come to terms with the fact that we have become interdependent and inseparable," he said.
Speaking to American business executives after the trade talks, Wang drew a direct comparison between China's new Party leader Xi Jinping and US President Barack Obama, saying both had a "very heavy weight to bear" to make good on promises.
Wang said China was sticking to the path of economic reform and would honor its promises to observe trade rules and treat foreign companies fairly.
"When we say we are opening up in China, it's not just empty talk," Wang said.
Both sides were upbeat about the talks. The US cited progress on intellectual property protection, market barriers and Chinese government procurement policies but said there was much more to be done. "We have provided a new platform for a strong US-China relationship," acting US Commerce Secretary Rebecca Blank told a news conference.
China pointed to US reforms of its controls on high-tech exports and a commitment to fair treatment for Chinese companies investing in the US.
Some recent high-profile Chinese investments in the US have been rejected on national security grounds, although US officials say most projects are welcomed as a source of new jobs and economic growth.
Wang took a shot at US suspicions of Chinese state-owned enterprises and the important but often unclear role of the Communist Party in those firms.
"You can't deny the fact that some Americans lack understanding of China and have stereotypes about China," he said in remarks at a dinner of officials and business leaders on Wednesday night.
Commerce Minister Chen Deming sounded a note of caution, saying China still needed to wait for a while to observe "what kind of measures the US side is going to take."
US Trade Representative Ron Kirk said China's concerns on the investment screening would be referred to Treasury but defended the screening procedures as having affected few investors.
China has long pressed the US to ease its restrictions on exports of high-technology goods, and the Obama administration is in the process of a comprehensive reform effort that is expected to make it easier for many countries, including China, to buy those items from American firms.
Chen said China also pledged not to force US companies to transfer technology as a condition for doing business in China and negotiate "as quickly as possible" to join the WTO's agreement on government procurement.
However, both US and Chinese officials said China and other WTO members remained far apart on the definition of public works projects that would be covered in any market-opening agreement.
Vice Premier Wang Qishan was speaking on Wednesday after the annual US-China Joint Commission on Commerce and Trade. Tackling dozens of thorny, detailed trade issues, the two days of talks were short on big outcomes but set an upbeat tone.
Wang said recovery of the world economy in the next five years will be sluggish, so the US-China economic relationship had acquired critical importance.
"Our two countries have to strengthen our economic relationship. We have to come to terms with the fact that we have become interdependent and inseparable," he said.
Speaking to American business executives after the trade talks, Wang drew a direct comparison between China's new Party leader Xi Jinping and US President Barack Obama, saying both had a "very heavy weight to bear" to make good on promises.
Wang said China was sticking to the path of economic reform and would honor its promises to observe trade rules and treat foreign companies fairly.
"When we say we are opening up in China, it's not just empty talk," Wang said.
Both sides were upbeat about the talks. The US cited progress on intellectual property protection, market barriers and Chinese government procurement policies but said there was much more to be done. "We have provided a new platform for a strong US-China relationship," acting US Commerce Secretary Rebecca Blank told a news conference.
China pointed to US reforms of its controls on high-tech exports and a commitment to fair treatment for Chinese companies investing in the US.
Some recent high-profile Chinese investments in the US have been rejected on national security grounds, although US officials say most projects are welcomed as a source of new jobs and economic growth.
Wang took a shot at US suspicions of Chinese state-owned enterprises and the important but often unclear role of the Communist Party in those firms.
"You can't deny the fact that some Americans lack understanding of China and have stereotypes about China," he said in remarks at a dinner of officials and business leaders on Wednesday night.
Commerce Minister Chen Deming sounded a note of caution, saying China still needed to wait for a while to observe "what kind of measures the US side is going to take."
US Trade Representative Ron Kirk said China's concerns on the investment screening would be referred to Treasury but defended the screening procedures as having affected few investors.
China has long pressed the US to ease its restrictions on exports of high-technology goods, and the Obama administration is in the process of a comprehensive reform effort that is expected to make it easier for many countries, including China, to buy those items from American firms.
Chen said China also pledged not to force US companies to transfer technology as a condition for doing business in China and negotiate "as quickly as possible" to join the WTO's agreement on government procurement.
However, both US and Chinese officials said China and other WTO members remained far apart on the definition of public works projects that would be covered in any market-opening agreement.
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