BEIJING, June 30 -- As China and the United States agreed to restart economic and trade consultations, the world's two largest economies finally returned to the right track to solve their trade issues.
Chinese President Xi Jinping and his U.S. counterpart, Donald Trump, on Saturday met on the sidelines of a summit of the Group of 20 major economies in the Japanese city of Osaka. The U.S. side said it will not add new tariffs on Chinese exports.
The meeting between the two leaders broke a deadlock over trade issues that lasted for over a month, during which trade tensions between the two countries kept escalating, putting the global economy under great downward pressure.
International organizations including the World Bank expressed their concerns before the G20 Osaka summit. The World Bank downgraded its forecast for global growth in 2019 by 0.3 percentage points earlier this month, citing downside risks including rising trade barriers.
The breakthrough in solving trade issues has helped ease such worries, sending encouraging signals to the global market.
It is obvious that tariffs will not solve any problems. Instead, dialogue is the only way to solve disputes in trade. However, the dialogue must be conducted on the basis of equality and mutual respect. Legitimate concerns of both sides must be addressed.
China's response to the escalation of trade frictions during the past period has shown that the country will unswervingly safeguard its core interests on issues concerning its sovereignty and dignity.
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