Commentary: Do not let strategic miscalculations ruin future of China-U.S. ties

Source: Xinhua| 2019-05-21 22:01:12|Editor: ZX
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BEIJING, May 21 (Xinhua) -- Ever since the moment of launching the trade war with China, the U.S. side has started a path along a series of strategic miscalculations regarding China's resolve in front of hardship and the global trend of development.

Crushing the Chinese people's determination with heavy pressure is doomed to fail.

Since the founding of the People's Republic of China in 1949, the country has never yielded to any powerful adversary. The ongoing trade tensions will be another long and hard-fought struggle in Chinese history, but China is ready, and determined to win.

The confidence comes from the resilience and vitality of the Chinese economy and a vast market with a 1.4 billion population.

The Chinese economy got off to a good start in 2019, as the world's largest developing economy beat market expectations with 6.4 percent year-on-year GDP growth in the first quarter. China is the only major economy whose growth forecast was raised by the IMF in its recent global economic prospects report.

The trade battles cost the U.S. economy 7.8 billion U.S. dollars in lost GDP in 2018, and the annual consumer and producer losses from higher costs of imports totaled 68.8 billion U.S. dollars, according to a study by a team of economists at leading American universities.

It is estimated that China-U.S. trade helped save up to 850 U.S. dollars for every American household on average in 2015, accounting for 1.5 percent of their family income.

Trade bullying also goes against world development. The IMF said trade issues had become the biggest uncertainty in the world economy, while the World Trade Organization lowered its forecast for global trade growth this year from 3.7 percent to 2.6 percent, due to economic uncertainties.

The history of world trade has made it clear that openness is key to development and cooperation brings mutual benefits, a universally-acknowledged truth that seems to be denied by the United States, which embraces unilateralist America First policies, trade protectionism and trade bullying.

As the two largest economies of the world, both countries have extensive common interests.

Every 17 minutes, a flight between China and the United States takes off or lands. Cherries from Washington, beef from Montana and fish from Alaska are making their way to Chinese tables, while China-made electric cars, shared bicycles and e-commerce platforms have become part of the daily lives of Americans.

Both countries shoulder major responsibilities for global issues including addressing climate change, eliminating poverty, ensuring the security of energy and resources, guarding against epidemics and cracking down on international terrorism.

Only by joining hands in trade and adopting a rational and pragmatic attitude in solving problems can the two countries benefit their peoples and people in the rest of the world.

China has always been willing to resolve economic and trade differences through negotiation and consultation, but this should be conducted on the basis of equality.

China, in any negotiations, must safeguard its legitimate interests, answer the call of its people, and defend the basic norms of international relations.

Any expectation that China will swallow the bitter fruit of damage to its national core interests is pure wishful thinking and strategic miscalculation.

History shows all-too-clearly that short-sighted decisions by politicians result in catastrophe for the whole world. To prevent the repetition of such tragedy, it is time to correct strategic misjudgment before the U.S. side goes too far.