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Map & Flag of USA & China, File Picture[/caption]
GFMM desk: Speakers at an international forum in Singapore said the progress of trade talks between the United States and China would help both countries as well as countries in the Asia-Pacific region.
Countries look up to the major world powers to engage in positive competition and win-win cooperation in the provision of global public services instead of resorting to zerosum rivalry, Zhang Xiaoqiang, executive vice-chairman and CEO of the China Center for International Economic Exchanges, or CCIEE, said at a news conference at the forum.
Experts from the US and China, as well as Singapore, India, Indonesia. Thailand, other nations and the Hong Kong Special Administrative Region of China exchanged views on the prospects for China-US relations at the forum jointly organized on Wednesday and Thursday by the CCIEE, the Lee Kuan Yew School of Public Policy, and the US research group Brookings Institution.
There is optimism that the US-China bilateral trade talks will make progress toward the first phase of a trade deal, he said, adding that the two economies can subsequently resolve other issues by observing the basic principles of a trade deal.
The other Asian economies do not want any frictions between the major powers such as the US and China, Zhang said.
Wei Jianguo, vice-chairman and deputy executive officer of the CCIEE, said that achieving progress in the first phase of the trade talks can be hard, adding that it is important both the US and China gain a good understanding of each other's core concerns and red lines in order to be better prepared for further negotiations.
"The haze is gone, but the sky is not fully clear, so more efforts are needed," Wei said.
He said China, like many other developing nations, merely seeks to reform and improve the global economic institutions such as the World Trade Organization. More here..
Source: Online/SZK
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