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Zheng Zeguang: China Does Not Hope to Have a Trade War, but Is Never Afraid of It

2018/03/26

On March 26, 2018, Vice Foreign Minister Zheng Zeguang attended upon invitation the 19th China Development Forum hosted by the Development Research Center of the State Council, and delivered a speech entitled "Major Country Diplomacy with Chinese Characteristics in the New Era". As for the China-United States (US) economic and trade relations, Zheng Zeguang expressed that the bilateral economic and trade relations are mutually beneficial in nature, which has brought a lot of tangible benefits to both peoples. In the rapid development process of bilateral economic and trade cooperation, it is actually not uncommon to encounter problems including trade imbalance, which should be solved through consultation for solutions acceptable to both sides. However, the US recently has released the results of the Section 301 investigation the country unilaterally launched, which does not conform to the rules of the World Trade Organization and also goes against the willingness of the business circles of both countries to carry out cooperation. China has made its stance clear in this regard. China does not hope to have a trade war, but is never afraid of it. China is firmly determined and fully prepared to respond to it in a resolute manner, so as to safeguard national interests. It is hoped that the US can calm down and seek proper solutions with China on the basis of mutual respect, equality and mutual benefit, which is conducive to both countries and the world at large.

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