By Zhong Sheng, People’s Daily
On Oct. 25 and 26 local time, China and the United States held a new round of economic and trade consultations in Kuala Lumpur, Malaysia.
Guided by the important consensuses reached by the two heads of state in their phone conversations since the beginning of this year, the two sides had candid, in-depth and constructive exchanges of views on important trade and economic issues of mutual concerns, and reached basic consensuses on arrangements to address respective trade concerns.
These outcomes did not come easily. They once again demonstrate that while it is natural for two major countries like China and the U.S. to have differences on economic and trade matters, these differences can be properly handled and the two sides can find the right way to get along as long as the two sides sit down for talks based on equality and constructiveness.
This round of consultations covered a wide range of topics, including the U.S. Section 301 measures on China’s maritime, logistics and shipbuilding sectors, extension of the suspension of reciprocal tariffs, fentanyl-related tariff and law enforcement cooperation, trade in agricultural products, and export controls.
These are issues of mutual concern that also bear on the stability of global industrial and supply chains. The two sides agreed to work out specific details and follow the domestic approval processes of each side.
While each side has long-term interests and concerns at stake, neither allowed these differences to obscure the bigger picture. Both remained solution-oriented, continued to make full use of the China-U.S. economic and trade consultation mechanism, and worked to create conditions for ultimately resolving issues. Such efforts not only help ease concerns but also benefit the development of both countries and the global economy as a whole.
To properly manage differences and advance cooperation, the most important task is to faithfully implement the important consensus reached between the two heads of state.
Since the beginning of this year, Chinese President Xi Jinping and U.S. President Donald Trump have held several phone conversations, setting the tone and direction for improving and developing China-U.S. relations.
Under this guidance, the two countries’ economic and trade teams have held five rounds of consultations and reached positive understandings. This fully demonstrates that to ensure the two giant ships of China and the U.S. sail forward together without veering off course or losing speed, it is essential to unwaveringly adhere to the strategic guidance of the two heads of state, fully implement the important consensus they have reached, and uphold the principles of mutual respect, peaceful coexistence, and win-win cooperation.
The economic and trade relations between China and the U.S. are mutually beneficial and win-win in nature. Cooperation benefits both sides, while confrontation harms both – a truth repeatedly proven over decades of bilateral relations.
Maintaining the stable development of China-U.S. economic and trade relations serves the fundamental interests of both countries and peoples, and meets the expectations of the international community. Looking back at the five rounds of consultations, each positive signal from the talks has brought a welcome warmth to global markets.
As a responsible major country, China has demonstrated composure and wisdom, advocating a broad vision and a sense of responsibility in handling China-U.S. relations, firmly opposing “decoupling and severing supply chains,” and working to safeguard the security and stability of global industrial and supply chains.
The U.S. side, for its part, has repeatedly stated that “it has no intention to decouple from China” and that “the U.S.-China economic and trade relationship is the most influential bilateral relationship in the world.”
With such a common understanding in place, the two sides should move toward each other, cherish every outcome achieved through consultations, build mutual trust, manage differences, and keep China-U.S. economic and trade relations on a steady, long-term path of mutually beneficial cooperation.
On its modernization journey, China remains committed to expanding high-standard opening up, which will create more opportunities for countries around the world, including the United States.
The recently concluded fourth plenary session of the 20th Central Committee of the Communist Party of China reviewed and approved the proposals for formulating the 15th Five-Year Plan, outlining the blueprint for China’s development in the next five years.
From a long-term perspective, China’s pursuit of socialist modernization is a step-by-step historical process of continuous advancement. By pursuing progress while ensuring stability, China can counter any external challenge with the certainty provided by its own development.
The plenary session emphasized the need to expand opening up at the institutional level, safeguard the multilateral trading system, and promote broader international economic flows. It also stressed the need to advance reform and development through greater openness and seek to share opportunities and achieve common development with the rest of the world.
The international community generally believes that, amid today’s uncertainties, China’s formulation and implementation of medium- and long-term plans demonstrate strategic foresight and strong stability, injecting valuable certainty into global development.
The hard-won outcomes of this round of consultations should be jointly cherished and safeguarded. China and the U.S. have both the capability and wisdom to find a path toward coexistence and common prosperity.
When dialogue replaces confrontation and cooperation transcends differences, the two countries can find appropriate ways to address each other’s concerns, promote the healthy, stable, and sustainable development of their economic and trade relations, and deliver greater benefits to the peoples of both nations and the wider world.
(Zhong Sheng is a pen name often used by People’s Daily to express its views on foreign policy and international affairs.)
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