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Thread: Yuan rise would be disastrous: China export body

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[quote=COOLSPRINGS,391623]“There are legal channels to deal with trade frictions between China and the US, both bilateral and multilateral channels exist now. With the expansion of China’s domestic demand, China’s import is expected to increase. Meanwhile, China sees greater surplus in cargo trade while the US sees greater surplus in service trade, therefore, the imbalance is not very serious,” explained Professor He.

He said Sino-US trade frictions will continue to increase, but with the increase of China’s import and the expansion of US service trade with China, the imbalance can be alleviated.

On the comment that China, as a developing country, is actually subsidizing the US which is a developed country, Professor He disagreed with such a view.

“It is not really true. China and the US are mutually complementary in most circumstances, in some cases they are real competitors,” Professor He said.

With the readjustment of Chinese economic mix, Sino-US relations will not be as simple as a relationship between a developing country and a developed country. They can become competitors in many areas, similar to the case when Germany and Japan rose after the war and competed with Europe and the US, Professor He predicted.

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