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China-US Trade Dispute/Experts
Beijing, China - May 21, 2019 (CCTV - No access Chinese mainland)
1. Various of building, sign of School of Economics and Management, Tsinghua University
2. SOUNDBITE (Chinese) Ma Hong, associate professor of economics, School of Economics and Management, Tsinghua University:
"The proportion of U.S. multinational companies' investment in the foreign direct investment into China is not the largest. We have attracted a large amount of investment from Japan, South Korea, and the region of Taiwan. These cross-regional investment has also greatly promoted China's economic development."
FILE: Washington D.C., USA - Date Unknown (CCTV - No access Chinese mainland)
3. Various of White House
Beijing, China - May 21, 2019 (CCTV - No access Chinese mainland)
4. SOUNDBITE (Chinese) Wang Peng, associate research fellow, Chongyang Institute for Financial Studies, Renmin University of China:
"The United States has started trade wars not once or twice, and China is not the first victim. The European Union, including Germany, France and UK, all the countries have used funds from the Marshall Plan (a U.S. initiative to aid Western Europe) are labeled as such, not to mention Japan or South Korea."
FILE: New York, USA - Date Unknown (CCTV - No access Chinese mainland)
5. Various of pedestrians
Beijing, China - May 21, 2019 (CCTV - No access Chinese mainland)
6. SOUNDBITE (Chinese) Ma Hong, associate professor of economics, School of Economics and Management, Tsinghua University:
"Rather than thinking that Americans have helped China, it's better to say that the U.S. entrepreneurs and politicians have been keenly aware of the potential of China's huge market, and the production capacity that China's low labor costs, and therefore, they chose to come to invest in China. In this process, a large part of the huge profits generated in the bilateral trade has entered the pockets of the multinational corporations. Besides, in the trade exchanges between China and the United States, China has brought huge benefits to the American consumers by exporting cheap and fine products. So I don't think the bilateral trade is a one-way offer from the United States to China."
FILE: Ningbo City, Zhejiang Province, east China - Date Unknown (CGTN - No access Chinese mainland)
7. Various of Ningbo-Zhoushan Port scenes
Some Chinese experts on Tuesday refuted the claim that massive U.S.trade deficit with China amounts to great wealth given by Washington to China and the United States rebuilt China by its huge investment.
They pointed out such claims are absurd, and they are nothing but lame excuses used by the United States to justify its trade war against China.
Ma Hong, an associate professor of economics in the School of Economics and Management with the Tsinghua University said that the claim is absurd.
"The proportion of U.S. multinational companies' investment in the foreign direct investment into China is not the largest. We have attracted a large amount of investment from Japan, South Korea, and the region of Taiwan. These cross-regional investment has also greatly promoted China's economic development," said Ma.
In fact, since 1987 when China started keeping statistics on foreign investment, the country has accumulatively utilized foreign capital of more than 2 trillion U.S. dollars. Investment from the United States was 81.36 billion U.S. dollars, accounting for 4.06 percent.
Wang Peng, associate research fellow with the Chongyang Institute for Financial Studies at the Renmin University of China said that it is the consistent practice of the United States to start a trade war and flaunt with such claims in its competitions with other economies in the world.
"The United States has started trade wars not once or twice, and China is not the first victim. The European Union, including Germany, France and UK, all the countries have used funds from the Marshall Plan (a U.S. initiative to aid Western Europe) are labeled as such, not to mention Japan or South Korea," said Wang.
Experts said that the U.S. trade deficit with China is derived from the comparative advantages and international division of labor of the two countries.
"Rather than thinking that Americans have helped China, it's better to say that the U.S. entrepreneurs and politicians have been keenly aware of the potential of China's huge market, and the production capacity that China's low labor costs, and therefore, they chose to come to invest in China. In this process, a large part of the huge profits generated in the bilateral trade has entered the pockets of the multinational corporations. Besides, in the trade exchanges between China and the United States, China has brought huge benefits to the American consumers by exporting cheap and fine products. So I don't think the bilateral trade is a one-way offer from the United States to China," said Ma.
The experts said that China's reconstruction relies on its own hard work and continuous economic development. The large market of 1.4 billion people, a complete industrial chain and the advantage of human resources and talent have provided a strong momentum for China's economic development.
China-US Trade Dispute/Experts
Dateline : May 21, 2019/File
Location : Beijing,China
Duration : 1'49
Beijing, China - May 21, 2019 (CCTV - No access Chinese mainland)
1. Various of building, sign of School of Economics and Management, Tsinghua University
2. SOUNDBITE (Chinese) Ma Hong, associate professor of economics, School of Economics and Management, Tsinghua University:
"The proportion of U.S. multinational companies' investment in the foreign direct investment into China is not the largest. We have attracted a large amount of investment from Japan, South Korea, and the region of Taiwan. These cross-regional investment has also greatly promoted China's economic development."
FILE: Washington D.C., USA - Date Unknown (CCTV - No access Chinese mainland)
3. Various of White House
Beijing, China - May 21, 2019 (CCTV - No access Chinese mainland)
4. SOUNDBITE (Chinese) Wang Peng, associate research fellow, Chongyang Institute for Financial Studies, Renmin University of China:
"The United States has started trade wars not once or twice, and China is not the first victim. The European Union, including Germany, France and UK, all the countries have used funds from the Marshall Plan (a U.S. initiative to aid Western Europe) are labeled as such, not to mention Japan or South Korea."
FILE: New York, USA - Date Unknown (CCTV - No access Chinese mainland)
5. Various of pedestrians
Beijing, China - May 21, 2019 (CCTV - No access Chinese mainland)
6. SOUNDBITE (Chinese) Ma Hong, associate professor of economics, School of Economics and Management, Tsinghua University:
"Rather than thinking that Americans have helped China, it's better to say that the U.S. entrepreneurs and politicians have been keenly aware of the potential of China's huge market, and the production capacity that China's low labor costs, and therefore, they chose to come to invest in China. In this process, a large part of the huge profits generated in the bilateral trade has entered the pockets of the multinational corporations. Besides, in the trade exchanges between China and the United States, China has brought huge benefits to the American consumers by exporting cheap and fine products. So I don't think the bilateral trade is a one-way offer from the United States to China."
FILE: Ningbo City, Zhejiang Province, east China - Date Unknown (CGTN - No access Chinese mainland)
7. Various of Ningbo-Zhoushan Port scenes
Some Chinese experts on Tuesday refuted the claim that massive U.S.trade deficit with China amounts to great wealth given by Washington to China and the United States rebuilt China by its huge investment.
They pointed out such claims are absurd, and they are nothing but lame excuses used by the United States to justify its trade war against China.
Ma Hong, an associate professor of economics in the School of Economics and Management with the Tsinghua University said that the claim is absurd.
"The proportion of U.S. multinational companies' investment in the foreign direct investment into China is not the largest. We have attracted a large amount of investment from Japan, South Korea, and the region of Taiwan. These cross-regional investment has also greatly promoted China's economic development," said Ma.
In fact, since 1987 when China started keeping statistics on foreign investment, the country has accumulatively utilized foreign capital of more than 2 trillion U.S. dollars. Investment from the United States was 81.36 billion U.S. dollars, accounting for 4.06 percent.
Wang Peng, associate research fellow with the Chongyang Institute for Financial Studies at the Renmin University of China said that it is the consistent practice of the United States to start a trade war and flaunt with such claims in its competitions with other economies in the world.
"The United States has started trade wars not once or twice, and China is not the first victim. The European Union, including Germany, France and UK, all the countries have used funds from the Marshall Plan (a U.S. initiative to aid Western Europe) are labeled as such, not to mention Japan or South Korea," said Wang.
Experts said that the U.S. trade deficit with China is derived from the comparative advantages and international division of labor of the two countries.
"Rather than thinking that Americans have helped China, it's better to say that the U.S. entrepreneurs and politicians have been keenly aware of the potential of China's huge market, and the production capacity that China's low labor costs, and therefore, they chose to come to invest in China. In this process, a large part of the huge profits generated in the bilateral trade has entered the pockets of the multinational corporations. Besides, in the trade exchanges between China and the United States, China has brought huge benefits to the American consumers by exporting cheap and fine products. So I don't think the bilateral trade is a one-way offer from the United States to China," said Ma.
The experts said that China's reconstruction relies on its own hard work and continuous economic development. The large market of 1.4 billion people, a complete industrial chain and the advantage of human resources and talent have provided a strong momentum for China's economic development.
ID : 8111318
Published : 2019-05-22 09:29
Last Modified : 2019-05-23 12:16:00
Source : China Central Television (CCTV),China Global Television Network (CGTN)
Restrictions : No access Chinese mainland
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