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Part 4: Premier Wen on China-US trade

03-14-2012 21:43 BJT

Premier Wen Jiabao said, "Cooperation is the way to address trade imbalance between China and the United States as well as the difficulties and frictions arising from it. The US should open its exports to China and ease related restrictions while promoting two-way investment. The two countries should work together to enhance mutual investment, creating favourable investment conditions and put more efforts on investment protection."

Q1. China’s Huawei, the world’s second-largest telecommunications equipment manufacturer, has effectively been blocked from bidding for US contracts. What kind of dilemma are Chinese companies facing in the US market?  

Q2. China is boosting its investments in its major trading partners, such as Europe and Australia, as it increasingly turns away from the United States as a favoured destination for its 3.2 trillion US dollars in foreign exchange reserves. China has made the first annual reduction in its holdings of US Treasury bonds in a decade sending a strong signal that it is beginning to rapidly diversify its portfolio of foreign currencies. Is that worrying the US?

Q3. We can’t overstress the importance of trade relations between the US and China. But the trade friction has been non-stop in recent years. Is there a way to settle the friction peacefully or a trade war is inevitable between the US and China?

Q4. While the US companies demands a leveled playing field in China, can we expect the same treatment from the US?

Q5. The US government considers China a non-market economy. Certain outdated assumptions about prices, wages, and interest rates being unreliable and fictitious in non-market economies result in China being subject to punitive antidumping measures. The EU does something similar. How long will it take for China to be treated as an equal partner?

Q6. As part of its new Asia strategy, the US has proposed the Trans-Pacific Partnership (TPP) at last year’s APEC summit. The TPP attempts to reorient trade discussion in the Pacific away from the most dynamic market, China, to the less dynamic one of the US by setting terms which excludes China. It therefore formulates policy not in terms of the region’s economic needs but of the narrower interests of the US administration. Do you think the TPP is US’ attempt to contain China’s growing influence in the Asian-Pacific region?

Editor:James |Source: CNTV

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