No Signs of Trade War Between China and US, Europe: Long Yongtu04-01 16:02 Caijing
A former foreign trade vice minister deflected sayings that China is likely to embrace a trade war between the United States and the Europe, referring to recent mounting trade frictions.
"There have been no signs of a trade war" between China and the two economies, said Long Yongtu, who is now Secretary-General of the Boao Forum for Asia, according to Finance.china.com.cn.
Long is attending the BFA in south China's coastal city of Hainan, which gathers leaders from government, business and academia in Asia and other countries.
The public and media should be cautious in using the word "trade war", said Long, warning that "a reckless escalation of the current Sino-US trade problems will be negative to the full picture of bilateral relations."
In fact, the development of trade relations between China and the United States has been proceeding smoothly, as U.S.' exports to China peaked this year, which has dampened trade protectionism in the country, Long said.
The number of trade frictions increased dramatically recently for China, which has suffered eight so far this year, with a total of 2.28 billion U.S. dollars involved, 80 percent higher than last year, the official Xinhua said last week, quoting a Zhong Shan, vice minister of Commerce of China.
Editors’ Picks »
- 1China to Cut Reserve Ratio for Some Rural Banks
- 2China M2 up 12.1Pc, Outstanding Yuan Loans 13.9 Pc in March
- 3Delayed Response to Tainted Water Raises Concerns
- 4China's FDI Inflow down 1.47% in March
- 5China's MMG to Acquire Las Bambas
- 6China’s Rare Earth Exchange Begins Trading Following WTO Ruling
- 7Alibaba’s Q4 Net Income More than Doubles Ahead of IPO
- 8China Trade Fair Shadowed by Weak Exports
- 9Embassy Says 2 Chinese Nationals Aboard Capsized S.Korean Ship
- 10South Korean Ferry Sinks off South Coast