BEIJING, July 1 -- China and the United States agreed on the sidelines of the G20 summit in Osaka, Japan, to restart economic and trade consultations on the basis of equality and mutual respect, after trade frictions since last year.
The easing of trade tensions between China and the United States came as no big surprise, as it is common wisdom that a trade war will not address the sticking points between the two sides, only dialogue can.
Maximum pressure tactics will not work when it comes to solve trade disputes between two major economies. There is only one track to reaching a deal between China and the United States: dialogue and cooperation.
The recent off-track scenario has only laid bare the very nature and importance of the relations of the world's two largest economies.
China and the United States, after decades of engagement on all fronts, are so interconnected that it is just impractical and impossible to disentangle them. Nobody knows this better than U.S. companies which rely on the Chinese market for production and sales. Any attempt to sever the two countries' economic and trade ties will prove painful and fruitless.
The China-U.S. trade frictions have sent jitters to global capital markets, disrupted multinationals' industrial chains, and weighed upon the economic growth of both countries and the world at large.
The World Bank lowered its 2019 and 2020 global economic growth forecasts in June, while the Conference Board data showed that U.S. consumer confidence fell in June to the lowest level since September 2017 as heightened trade tensions apparently took a toll on market sentiment.
【国内英语资讯:Commentary: China-U.S. deal needs both to stay on track, stay sincere】相关文章:
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