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USA-China/Trade Relations
Washington D.C., USA - Sept 17, 2018 (CGTN - No access Chinese mainland)
1. Poster of "Conference on Sino-US Economic and Trade Relations in the Global Economy"
2. Various of President of Chinese Academy of Social Sciences Xie Fuzhan speaking at conference
3. SOUNDBITE (Chinese) Xie Fuzhan, President, Chinese Academy of Social Sciences (partially overlaid with shot 4):
"It is true that there are a lot of areas where China and the U.S. compete. It is an unavoidable reality. But even you only look at the economic sector, the two still can complement each other rather than compete with each other.In today's world, major countries should have benign competition, cooperating in competition and competing in cooperation. Through competition and cooperation, we can both improve ourselves. Such a benign competition is not only conducive to China and the United States, but also will bring positive spillover effect to the whole world."
++SHOT OVERLAYING SOUNDBITE++
4. Attendees listening
++SHOT OVERLAYING SOUNDBITE++
5. Attendees
6. SOUNDBITE (English) Jacob Lew, former U.S. Treasury Secretary (partially overlaid with shot 7):
"In my view the Trump administration tariffs are likely to make matters worse. Constructive engagement remains the best course, working together where we agree and narrowing our differences where we do not."
++SHOT OVERLAYING SOUNDBITE++
7. Attendee listening
++SHOT OVERLAYING SOUNDBITE++
8. Attendees
9. SOUNDBITE (English) Adam Posen, President, Peterson Institute for International Economics (partially overlaid with shot 10):
"The interference with normal commerce and trade between U.S. and China will make U.S. firms incredibly uncompetitive in various sectors, and will not only erode U.S. productivity, it will also be a large hit to poorer people in the U.S. in terms of their purchasing power, their ability to buy autos, their ability to buy gifts for Christmas, their ability to buy food."
++SHOT OVERLAYING SOUNDBITE++
10. Attendee listening
++SHOT OVERLAYING SOUNDBITE++
11. Sign of Peterson Institute for International Economics
12. SOUNDBITE (English) C. Fred Bergsten, senior fellow and Director Emeritus, Peterson Institute for International Economics:
"A G2, in which the United States and China, under the looming threat of trade wars and major economic and political destruction, work together to resolve their current conflict and begin to address the systematic structural issues, to head off Thucydides's Trap or Kindleberger Trap."
13. Various of guests speaking, conference in progress
Amid the trade tensions between China and the United States, scholars from the world's two largest economies met in Washington D.C. and Chicago on Sept. 17-19 to find ways out.
U.S. President Donald Trump has tweeted that trade wars are good and winning is easy, but that does not seem to be the majority view of both Chinese and U.S. scholars.
They say trade war is not a benign competition; it does not suit the interests of the people of China and the United States, and the U.S. cannot achieve the goals behind the war.
"It is true that there are a lot of areas where China and the U.S. compete. It is an unavoidable reality. But even you only look at the economic sector, the two still can complement each other rather than compete with each other. In today's world, major countries should have benign competition, cooperating in competition and competing in cooperation. Through competition and cooperation, we can both improve ourselves. Such a benign competition is not only conducive to China and the United States, but also will bring positive spillover effect to the whole world," said Xie Fuzhan, president of Chinese Academy of Social Sciences.
As for the view of an artificial decoupling of the China-U.S. trade links, scholars argue it is an unimaginable scenario, with such a globalized world and tight economic ties. They say neither side can find a replaceable trade partner.
Chinese scholars say that the key point is to avoid miscalculation, to stress dialogue, rather than confrontation, a view echoed by former U.S. Treasury Secretary Jacob Lew.
"In my view the Trump administration tariffs are likely to make matters worse. Constructive engagement remains the best course, working together where we agree and narrowing our differences where we do not," said Lew.
Another scholar pointed to the damage the trade war causes to U.S. consumers.
"The interference with normal commerce and trade between U.S. and China will make U.S. firms incredibly uncompetitive in various sectors, and will not only erode U.S. productivity, it will also be a large hit to poorer people in the U.S. in terms of their purchasing power, their ability to buy autos, their ability to buy gifts for Christmas, their ability to buy food," said Adam Posen, president of Peterson Institute for International Economics.
In terms of how to east the trade tension between China and the U.S., another scholar suggests cooperation in reforming the important global institutions such as the World Trade Organization (WTO), the IMF to continuously improve the global economic governance system.
"A G2, in which the United States and China, under the looming threat of trade wars and major economic and political destruction, work together to resolve their current conflict and begin to address the systematic structural issues, to head off Thucydides's Trap or Kindleberger Trap," said C. Fred Bergsten, senior fellow and Director Emeritus of Peterson Institute for International Economics.
USA-China/Trade Relations
Dateline : Sept 17, 2018
Location : United States
Duration : 2'26
Washington D.C., USA - Sept 17, 2018 (CGTN - No access Chinese mainland)
1. Poster of "Conference on Sino-US Economic and Trade Relations in the Global Economy"
2. Various of President of Chinese Academy of Social Sciences Xie Fuzhan speaking at conference
3. SOUNDBITE (Chinese) Xie Fuzhan, President, Chinese Academy of Social Sciences (partially overlaid with shot 4):
"It is true that there are a lot of areas where China and the U.S. compete. It is an unavoidable reality. But even you only look at the economic sector, the two still can complement each other rather than compete with each other.In today's world, major countries should have benign competition, cooperating in competition and competing in cooperation. Through competition and cooperation, we can both improve ourselves. Such a benign competition is not only conducive to China and the United States, but also will bring positive spillover effect to the whole world."
++SHOT OVERLAYING SOUNDBITE++
4. Attendees listening
++SHOT OVERLAYING SOUNDBITE++
5. Attendees
6. SOUNDBITE (English) Jacob Lew, former U.S. Treasury Secretary (partially overlaid with shot 7):
"In my view the Trump administration tariffs are likely to make matters worse. Constructive engagement remains the best course, working together where we agree and narrowing our differences where we do not."
++SHOT OVERLAYING SOUNDBITE++
7. Attendee listening
++SHOT OVERLAYING SOUNDBITE++
8. Attendees
9. SOUNDBITE (English) Adam Posen, President, Peterson Institute for International Economics (partially overlaid with shot 10):
"The interference with normal commerce and trade between U.S. and China will make U.S. firms incredibly uncompetitive in various sectors, and will not only erode U.S. productivity, it will also be a large hit to poorer people in the U.S. in terms of their purchasing power, their ability to buy autos, their ability to buy gifts for Christmas, their ability to buy food."
++SHOT OVERLAYING SOUNDBITE++
10. Attendee listening
++SHOT OVERLAYING SOUNDBITE++
11. Sign of Peterson Institute for International Economics
12. SOUNDBITE (English) C. Fred Bergsten, senior fellow and Director Emeritus, Peterson Institute for International Economics:
"A G2, in which the United States and China, under the looming threat of trade wars and major economic and political destruction, work together to resolve their current conflict and begin to address the systematic structural issues, to head off Thucydides's Trap or Kindleberger Trap."
13. Various of guests speaking, conference in progress
Amid the trade tensions between China and the United States, scholars from the world's two largest economies met in Washington D.C. and Chicago on Sept. 17-19 to find ways out.
U.S. President Donald Trump has tweeted that trade wars are good and winning is easy, but that does not seem to be the majority view of both Chinese and U.S. scholars.
They say trade war is not a benign competition; it does not suit the interests of the people of China and the United States, and the U.S. cannot achieve the goals behind the war.
"It is true that there are a lot of areas where China and the U.S. compete. It is an unavoidable reality. But even you only look at the economic sector, the two still can complement each other rather than compete with each other. In today's world, major countries should have benign competition, cooperating in competition and competing in cooperation. Through competition and cooperation, we can both improve ourselves. Such a benign competition is not only conducive to China and the United States, but also will bring positive spillover effect to the whole world," said Xie Fuzhan, president of Chinese Academy of Social Sciences.
As for the view of an artificial decoupling of the China-U.S. trade links, scholars argue it is an unimaginable scenario, with such a globalized world and tight economic ties. They say neither side can find a replaceable trade partner.
Chinese scholars say that the key point is to avoid miscalculation, to stress dialogue, rather than confrontation, a view echoed by former U.S. Treasury Secretary Jacob Lew.
"In my view the Trump administration tariffs are likely to make matters worse. Constructive engagement remains the best course, working together where we agree and narrowing our differences where we do not," said Lew.
Another scholar pointed to the damage the trade war causes to U.S. consumers.
"The interference with normal commerce and trade between U.S. and China will make U.S. firms incredibly uncompetitive in various sectors, and will not only erode U.S. productivity, it will also be a large hit to poorer people in the U.S. in terms of their purchasing power, their ability to buy autos, their ability to buy gifts for Christmas, their ability to buy food," said Adam Posen, president of Peterson Institute for International Economics.
In terms of how to east the trade tension between China and the U.S., another scholar suggests cooperation in reforming the important global institutions such as the World Trade Organization (WTO), the IMF to continuously improve the global economic governance system.
"A G2, in which the United States and China, under the looming threat of trade wars and major economic and political destruction, work together to resolve their current conflict and begin to address the systematic structural issues, to head off Thucydides's Trap or Kindleberger Trap," said C. Fred Bergsten, senior fellow and Director Emeritus of Peterson Institute for International Economics.
ID : 8091233
Published : 2018-09-21 14:11
Last Modified : 2018-09-21 21:37:00
Source : China Global Television Network (CGTN)
Restrictions : No access Chinese mainland
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