On March 10, Foreign Ministry spokesman Mao Ning presided over a regular press conference. A reporter asked, US Treasury Secretary Bescent repeatedly stated that China's economy is overly dependent on exports and the United States seeks fair and reciprocal trade. What is China’s comment on this?
Mao Ning said that the government work report of this year's Two Sessions clearly mentioned that domestic demand contributes nearly 70% to China's economic growth, and regards "all-round expansion of domestic demand" as the first of the ten work tasks this year, emphasizing the need to all-round expansion of domestic demand and make domestic demand the main driving force and stability anchor to drive economic growth.
The current trade situation between China and the United States is the result of the role of the market, and is affected by various factors such as the economic structure, trade policies, and the dollar currency status of the two countries. China never deliberately pursues a surplus. In fact, the US side has made great profits from Sino-US trade. The exports of American companies in China are included in China's surplus. China's export of high-quality and low-priced products to the United States has increased the actual purchasing power of the American people and created a large number of jobs for the US transportation, wholesale, retail and e-commerce industries. At the same time, the United States also maintains a huge surplus in service trade.
The essence of Sino-US economic and trade cooperation is mutual benefit and win-win results. If only one party benefits and the other party "suffers" and it is impossible to reach today. He talks about "suffering losses" all day long and pursues absolute reciprocity trade, which violates basic economic common sense and underestimates the judgment of American companies and consumers. No matter how the US packages it, it cannot cover up the attempt to politicize and weaponize economic and trade issues and implement curbs and suppress China. The US has fought a trade war with the world for so many years, and the trade deficit has not decreased but increased, and it still reached a high of US$918.4 billion last year. Whether it is a tariff war or a trade war, it all starts with harming others and ends with harming oneself. The US should learn from the lessons and change its course.
(CCTV reporter Shen Yang)
