Beijjng: Whether China and the United States would see a turnaround in trade negotiations around the upcoming Group of 20 (G20) Osaka summit, clearly, the prospect entirely depends on the actions of the United States.
If the U.S. side would honor its commitment, deliver on the consensus reached by leaders of the two countries in Argentina and solve China’s core concerns on the basis of equality, mutual benefit and mutual respect, it is highly possible that the turnaround will happen.
But if some people in the United States continue to exert maximum pressure on China and continue to utter in an unstable and immature manner, it is only wishful thinking that the negotiations would see progress.
Experiences in the past year have proved that China is able to withstand U.S. pressure and can afford it in the long run.
The tariffs imposed by the United States on the Chinese products have exerted little impact on the Chinese economy. Leading indicators show that China’s economy remains resilient in May driven by brisk growth in domestic consumption. In the first five months of the year, foreign trade volume bucked the external headwinds and continued expanding.
For more than a year, the Chinese economy has stood the test of trade frictions with the United States, and the good momentum will continue.
Facing U.S. trade bullying, China has intensified countermeasures. By introducing the unreliable entities list and national technological security management list system and issuing U.S. travel alerts, China stands ready for a protracted trade war with the United States. China has ample ammunition, and releasing more countermeasures will be a regular practice.
The U.S. side should know that if it escalates its threat against China and its blocking of China’s industries, China will only fight back even harder. China’s determination and will to fight the trade war until the end should never be underestimated.
The upcoming G20 meeting is an opportunity to see whether the United States has real sincerity to solve the conflict. If not, China’s sincerity could be squandered.