Source: CGTN Published: 2019-8-14
Chinese experts sounded the alarm at a seminar on China-U.S. trade ties in Beijing, warning that protectionist moves by the U.S. that further escalate trade tensions will disrupt the global economy.
Experts noted that China and the U.S. are the biggest trading partners and important investment destinations. They say that time has always proven that China and the U.S. stand to benefit from cooperation, and lose from confrontation.
"I really wish that the U.S. side will return to the table. We and the U.S. are the two largest economies in the world, we need to resolve our issues through dialogue and negotiations, not through unilateral measures, that is unfair and not in line with the international order," said Wei Benhua, senior research fellow of Chongyang Institute of Financial Studies, Renmin University of China.
Zhuang Xuechun, deputy director-general of the People's Bank of China's Research Bureau, commented: "Since 2018, the trade protectionism is escalating. It has generated massive turbulence in the global financial market and affected the recovery of the global economy."
"In fact, the former U.S. treasury secretary mentioned a few days ago that the world economy is at the riskiest moment since the global financial crisis, and the U.S. measures of trade protectionism have raised concerns that the U.S. may also suffer recession next year," she added.
Wei Benhua is senior research fellow of Chongyang Institute of Financial Studies, Renmin University of China.