US-China economic decoupling won't benefit anyone: Premier Li

Source:Global Times Published: 2020/5/28 20:18:40

Photo: Xinhua

China-US economic decoupling will not benefit anyone, said Chinese Premier Li Keqiang at a press conference in Beijing on Thursday after the conclusion of the third session of the 13th National People's Congress (NPC).

China has always rejected the "cold war" mentality, and decoupling of the two major economies will benefit no one, and will only harm the world, said Premier Li.

Analysts said that the Chinese Premier's answer showed China's attitude toward the US - meaning both countries will gain from peaceful coexistence and lose from conflict.

"The China-US relationship has weathered disturbances over the past few decades. There has been cooperation as well as frustration. It's truly complicated," said Premier Li.

China is the world's largest developing economy, while the US is the world's largest developed economies. With different social systems, cultural traditions and history, differences between the two are inevitable. But the question is how to deal with their differences, said Li.

The two powers need to mutually respect each other. The two countries should develop their relationship based on equality and respect for each other's core interests, so as to embrace broader cooperation, Li added.

China and the US have wide-ranging common interests. Cooperation between the two nations will be propitious for both sides, while confrontation will hurt both, said Premier Li.

"China and the US are the two largest economies in the world. Therefore, if the confrontation between the two states continues to escalate, it will definitely affect the global economy and the global political structure. Such turbulence, for all enterprises, especially multinational enterprises, is very unfavorable," Tian Yun, vice director of the Beijing Economic Operation Association, told the Global Times on Thursday.

Li added that business cooperation between China and the US should follow commercial principles, be market driven, and be judged and decided by the entrepreneurs.

China US Photo:Global Times

"Some US politicians, for their own political interests, ignore the basis of economic growth. This not only hurts the US economy and China's economy, but also the global economy, causing instability," Tian noted.

The analyst added that the Premier's response was actually an exhortation to the US political and business communities to get back on track to resolving their disputes through consultations.

Posted in: ECONOMY

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