US special interests threaten delicate balance of trade

• Source: Global Times
• [21:45 July 25 2010]
• Comments

A few members of Congress intentionally mischaracterize Sino-US economic and trade relations and develop public policies based on their own local interests at the price of the interests of the US in general. We can only hope that the US Congress works for the benefit of the vast majority of taxpayers to maintain the overall situation.

The 30 years of Sino-US economic and trade relations have seen a lot of difficulties as a result of the process of mutual adaptation and adjustment and the coexistence of friction and cooperation. But most of the time, the US government is clearly aware of the importance and great potential of China for US interests.

At the hearing this time, US Commerce Secretary Gary Faye Locke said that in order to meet the goal of doubling exports in the next five years and significantly increasing employment, the US should focus on exports to China and other emerging high-growth export markets.

China and the US together account for about a third of the total world economy, as well as 40 percent of global economic growth in the past decade. Their role as twin engines of global economic growth will not change for a long time.

If any substantive issues arose in Sino-US economic and trade relations, not only would the interests of both countries be damaged, but also the common interests of most countries would be affected and world economic development would be threatened.

Sino-US economic and trade relations should continue to increase, which will benefit people in both countries, the Asia-Pacific region, and the world prosperity and stability.

The author is a research associate at the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce. The article is the first of a series of six comments on Sino-US trade conflicts.

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