China Asserts Economic Resilience Against U.S. Tariffs and Pursues Strategic Dialogue
China’s Commerce Minister Wang Wentao expressed confidence in the nation’s economic resilience against U.S. tariffs, emphasizing a preference for dialogue over coercion. He indicated that China remains a key trading partner for 140 nations and highlighted ongoing government strategies to boost consumer spending amid economic challenges. Amidst calls for enhanced cooperation, the Chinese government is preparing to increase investments in various social sectors.
During recent discussions, China asserted its resilience against U.S. tariffs, maintaining confidence in its economy despite external pressures. Commerce Minister Wang Wentao stated that China would not yield to coercion, emphasizing that there are “no winners in a trade war”. He reiterated calls for dialogue to resolve trade tensions, suggesting that mutual respect is critical in international relations.
Wang pointed out the significant role China plays as a trading partner for 140 nations, highlighting the numerous trade agreements in place as a testament to its global economic position. He echoed a sentiment of non-compliance with threats, asserting that China’s commitment to safeguard its interests remains steadfast. Furthermore, he indicated that China is open to dialogue on trade issues, proposing a meeting of representatives to facilitate communication.
Despite external challenges, the Chinese government is promoting global trade participation and financial support for exporting companies. Efforts to diversify trade and reduce dependency on specific markets are underway, with Wang stating, “We do not put all our eggs in one basket.”
Amidst ongoing economic pressures, including a downturn in the housing sector and unemployment issues stemming from the COVID-19 pandemic, government officials recognize the need for initiatives to boost consumer demand. Zheng Shanjie from the National Development and Reform Commission noted anticipated economic growth rates of 4.6% to 4.8%, which fall short of the government’s target of approximately 5%.
The Chinese government is drafting an action plan aimed at increasing domestic consumption and investment, though specific measures have yet to be detailed. Finance Minister Lan Fo’an highlighted forthcoming expenditures to support local governments and increase investments in critical social sectors such as education and public health, assuring that “every coin is well spent.”
China remains resolute in weathering U.S. tariffs, asserting its economic strength and commitment to international dialogue. The Chinese government is actively pursuing measures to enhance domestic consumption and investment in response to emerging economic challenges. Overall, the emphasis on strategic trade relationships and internal economic stability reflects China’s preparedness to navigate the complexities of global trade dynamics while advocating for constructive engagement with the United States.
Original Source: news.az
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