US-China economic relations positive and promising: experts

The High-Level Dialogue on U.S.-China Economic Relations, co-hosted by the Asia Society Policy Institute and China Center for International Exchanges, kicks off in New York on June 14th , 2017. [Photo: China Plus/Zhao Xinyu]

The U.S.-China economic relations currently maintain a positive trend of development, and could share a quite promising prospect in the future, if U.S. and China keep on opening wider to each other and enhancing mutual trust and confidence. These views are delivered by participants of the High-Level Dialogue on U.S.-China Economic Relations, which opened Wednesday in New York.

Our reporter Qian Shanming brings back more details from New York.

The High-Level Dialogue on U.S.-China Economic Relations, co-hosted by Asia Society Policy Institute and China Center for International Exchanges, kicked off in New York on Wednesday. Dozens of Chinese and U.S. government officials, experts and scholars, gathered at the event to deliberate on topics concerning the present and future development of U.S.-China bilateral economic ties, mainly referring to the 100-Day Plan since Mar-a-Lago meeting, and the future cooperation between the two countries in the Belt and Road Initiative.

Kevin Rudd, President of Asia Society Policy Institute (ASPI), former Australian Prime Minister, addresses a keynote speech at the High-Level Dialogue on U.S.-China Economic Relations in New York on June 14th, 2017. [Photo: China Plus/Zhao Xinyu]

Kevin Rudd, former Australian Prime Minister and currently President of Asia Society Policy Institute, highlighted the importance of healthy U.S.-China economic relations, both in short term and long term.

"To discuss the progress in U.S.-China first 100-Day’s economic dialogue, which was agreed upon between Chinese President Xi Jinping and U.S. President Donald Trump at Mar-a-Lago, the first 100 days is important in itself, it’s real, live, contemporary commerce and politics. ‘One Belt, One Road’ is not about the 100 days, it’s about the next 100 years.”

Kevin Rudd urged U.S. and China to add more light, instead of more heat to bilateral economic relations, so as to expand the dimensions of trade and investment cooperation.

Cui Tiankai (1st, L), Chinese Ambassador to the U.S., Zhao Qizheng (2nd, L), former Director of China’s State Council Information Office, Kevin Rudd (3rd, L), President of Asia Society Policy Institute (ASPI), former Australian Prime Minister, C. H. Tung, (3rd, R) Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and former Hong Kong Chief Executive, Josette Sheeran (2nd, R), President and CEO of Asia Society, Guo Weimin (1st, R) Vice Minister of China's State Council Information Office, are present at the High-Level Dialogue on U.S.-China Economic Relations in New York on June 14th , 2017. [Photo: China Plus/Zhao Xinyu]

Talking about the China-initiated Belt and Road Initiative, Kevin Rudd said that many people in the United States are quite interested in learning more about BRI, with major concerns on five aspects, including the real scale of the initiative, how China could cope with possible difficulties brought forth by this initiative as it is quite new territory in China’s global experience, how will the initiative work in practical implementation, and to what extent the U.S. side, especially U.S. companies, are expected to play a role in the initiative.

As some are questioning about China’s global strategic intent, Tung Chee-hwa, vice chairman of the National Committee of the Chinese People's Political Consultative Conference and former Hong Kong chief executive, said on Wednesday that China has always been dedicated in pursing peace and sharing prosperity with nations around the world.

Zhao Qizheng (L), former Director of China’s State Council Information Office, and Kevin Rudd, President of Asia Society Policy Institute (R) exchanges views during the interim of the High-Level Dialogue on U.S.-China Economic Relations in New York on June 14th , 2017. [Photo: China Plus/Zhao Xinyu]

“You may ask internationally what is China’s strategic intent. China wishes to pursue peace and share prosperity with all nations around the world, particularly with her neighbors. China has no hegemonic or ideological ambitions. China does not wish to impose her system or values onto other nations. The truth is that hegemonic aggression is not in the DNA of Chinese people.”

Tung said that China places great emphasis on seeking to build a constructive relationship with all nations, and a good relationship with the United States is particularly important. But this is not easy.

“After all, the people of the United States and China have different culture, different history, and the two countries are at different stages of development. Our needs are different. At this stage, it is even more important, in my view, for us to understand each other better, and to trust each other’s good will and intentions more.”

Michael Rubens Bloomberg, former Mayor of New York City, Founder and CEO of Bloomberg L.P. and Bloomberg Philanthropies, delivers a keynote speech at the High-Level Dialogue on U.S.-China Economic Relations in New York on June 14th , 2017. [Photo: China Plus/Zhao Xinyu]

Chinese Ambassador to the U.S. Cui Tiankai also reiterated at the High-Level Dialogue China’s welcoming attitude to all nations to participate in the Belt and Road Initiative, including the United States.

“The Belt and Road Initiative is open to all. So we would very much welcome increasing participation by the United States. “

Cui Tiankai said that China and U.S. are taking steps in the right direction to a constructive bilateral relationship since the Mar-a-Lago meeting early this April. The Ambassador said that the four dialogue mechanisms agreed at the summit are being carried out orderly. For instance, the first round of the Diplomatic and Security Dialogue will take place in Washington D.C. within a week, and as to the Comprehensive Economic Dialogue, the two sides have already had some early harvest for the 100-Day Plan.

Cui Tiankai said that in today’s world where there are growing uncertainties and pressing need for economic restructuring, China and the United States should work together and make all the right choices and show the way forward to the world.

“It is a choice between openness and isolation. China certainly stands for openness, because openness will enable innovation, will lead to new opportunities and create new life for the world economy. It is a choice between connectivity and separation, and China stands for connectivity, as manifested by the Belt and Road Initiative. It is also a choice between win-win and zero-sum game. China stands for win-win approach. As President Xi said in Davos in January, and I quote, when encountering difficulties, we should not complain about ourselves, blame others, lose confidence, or run away from responsibilities. We should join hands and rise to the challenges.”

Roundtable discussions are also held at the High-Level Dialogue to discuss new common ground for U.S-China economic cooperation and the U.S.-China cooperation in global economic governance.

For CRI, this is Qian Shanming from New York.