BEIJING/SHANGHAI – Forthcoming trade talks between the presidents of China and the United States are doubtful to instantly resolve major disagreements between the two sides but could start a new phase in dialogues, Chinese state media said on Thursday.
Chinese and U.S. flags are set up for a meeting during a visit by U.S. Secretary of Transportation Elaine Chao at China’s Ministry of Transport in Beijing, China April 27, 2018.
China and the United States earlier this week said they were reviving talks ahead of a meeting next week between Presidents Donald Trump and Xi Jinping, cheering financial markets on hopes that it may comfort intensifying trade frictions.
Talks to reach a broad deal broke down last month after U.S. officials blamed China of backing away from formerly agreed commitments.
Both parties are “in the mood for serious dialogue” as a full-blown trade war was “lose-lose” but one single meeting is unlikely to wrap everything up, the official China Daily said in an editorial.
“More likely than not, the one-on-one meeting will end up being the start of a new phase in the negotiations with the two leaders personally setting out their country’s respective bottom lines.”
In a newspaper it’s mentioned, “Negotiation outcomes are not often obtained through talks, but through fights. If desiring a good negotiation result, China must persist and not fear”.
“As trade between China and the U.S. is highly likely to continue, the two countries may eventually reach an agreement. But China will not be impatient or afraid of setbacks.”
“Only by being able to fight, daring to fight and being good at fighting can you stop a war,” Economic Daily wrote.
Trump has threatened to put tariffs on another $325 billion of goods, covering nearly all the remaining Chinese imports into the United States, including consumer products such as cellphones, computers and clothing.
China has repetitively promised to open its market broader to foreign investors and provide them with improved services and treatment.
Li said, “China will maintain our long-standing commitment to reform and opening in order to continue to expand and open. We welcome more and more foreign investment to come to China.”
“We will also relax (restrictions on) access to even more fields to create a market-oriented, law-based internationalized business environment.”