TRADE

In the midst of high-level trade talks, China says – the U.S should respect its right to development to become successful

Chinese key government official spoke to the visiting delegates of the U.S and said that the U.S should show due respect to its right to development and should become prosperous by doing so. This will help the country to open its door to other countries even wider.

The latest round of high-level talks between the two largest world’s economies began within this week so that the conflict between the two on trade can be resolved and also on the issue of tariff hike on Chinese goods.

The United States had alleged China of illegal trade practices and stealing of technology data. However, the allegations have been denied by the Chinese government.

The international community wants both the countries to respect each other and to collaborate in order to reach out to a deal; this is the right choice they can make. On Tuesday, the State Councillor Wang Yi informed the U.S delegates, business leaders and former authorities in Beijing.

The Foreign Ministry of China Wang said during a statement on Wednesday “United States has the development rights; similarly, China to has the right to development, Chinese people should also have the right to live a good life.”

He further added that the development of China is in the best interest of the world and the U.S should understand it and accept it. We cannot resolve some issues only by looking at the development of China, which the U.S is looking at it as an opportunity. We even cannot resolve issues related to trade and economics just by seeing the developments.

The U.S delegator members who are attaining the high-level trade talks are U.S Chamber of Commerce Executive Vice President Myron Brilliant, U.S Chamber of Commerce China Center President Jeremie Waterman and U.S National Security Adviser Stephen Hadley.

If the delegates from both sides do not agree on a deal, then the tariffs on 200 billion of dollars Chinese goods will be increased from 10 percent to 25 percent after the trade war deadline March 1, meanwhile many times U.S President Trump has iterated that, he is ready to extend the trade war deadline.

The U.S also wants structural changes to be done in accordance with the China-US trade talks. The negotiations between the two should take place peacefully, and the U.S should not force Beijing to make any changes.

The negotiations that are taking place as of now were followed by week-long talks in Beijing which ended in the previous week, the talks were quite fruitful, but officials could not manage to reach out to a deal.

Unite States and China both should sign an agreement that will motivate their people which will announce the economic development of the Country.

Wang told that, as long as there is active meeting, between the United States and China, the trade and economic collaboration between the two can play a vital role in the Sino-U.S ties.

Leave a Comment

Copyright © 2019. FinanceStead. All Rights Reserved.