The US-China trade war has been coming to the surface for months. As September ends, the trade war, although both parties reportedly attempted several settlement negotiations, is far from over. This subsequently jeopardizes not just the two countries’ economies, but the world economy as whole.
China, arguably becoming the outmaneuvered party, does not want to come unready. China is leveling its efforts up to shield its economy from the destructive impact of the trade dispute.
The People’s Bank of China (PBOC), as disclosed on China’s social network Weibo, will continue to implement a prudent monetary policy and strengthen its counter-cyclical measures. The central bank earnestly commits to counter economic slowdown and ensure the adequate liquidity on the financial sector.
Chinese vice-commerce minister, Wang Shouwen, also displays an identical intention. Accordingly, Beijing intends to authorize more opportunities for foreign investors. The world’s second largest economy believes it still has myriad potentials to uncover.
For instance, in the field of technology, many analysts argue that China will eventually surpass America if the condition remains as it is. The country has achieved rapid technology advancement in the latest years. That said, China will most likely prevail with or without the trade war favor as many suggest.
Also Read: Asia Stocks Mixed as Trade War May End Soon
China in Facing the Upcoming Trade War Negotiations
As negotiations resume in the second week of October, China has prepared its best. Beijing will send its top negotiator, Liu He, who will lead the Chinese delegations to Washington accordingly.
Minister Wang hopes that both countries will come with a calm and rational agreement. Furthermore, besides settling the dispute, the agreement must be beneficial for both countries.
“We hope for both sides to stand from a position of equality and mutual respect, to face the same direction, and be considerate of each other’s concerns. Differences should be overcome by negotiations from calm and rational attitudes, and we should seek solutions that will benefit both sides,” he said.
Previously, US President Donald Trump highly disagreed with the trade war negotiations as China was offering a ‘bad deal.’ However, President Trump later said he’d be open for further talks.
