Both sides should be 'open, tolerant' and avoid 'politicizing' key issues
China and the United States should be more "open and tolerant" to each other and work harder to improve and promote bilateral trade and investment as global economic outlook remains gloomy, according to Wang Chao, vice-minister of commerce.
Delivering a keynote speech at the 2012 China-US Economic and Trade Cooperation Forum in Beijing on Tuesday, Wang urged the two sides to "resolve their conflicts through cooperation, and avoid politicizing bilateral economic and trade issues".
He said both sides should jointly deal with the challenges ahead, expand common interests and enhance cooperation, reminding delegates that "dialogue and cooperation" have been the mainstays of China-US relations.
"China and the US are not competitors," he said, "but partners for mutual benefit."
His comments came as the world's top two economies remain embroiled in a series of trade and investment conflicts, involving most notably rare earth supplies and pricing, trade in solar panels, and exchange rates.
In March, the US together with the European Union and Japan brought China before the World Trade Organization over its policy on rare earth exports.
Six US solar panel manufacturers have accused Chinese companies of selling panels in the US market at prices below their costs, and in May, the US announced anti-dumping duties on Chinese solar equipment makers ranging from 31 percent to 250 percent, which has also sparked an EU enquiry into the Chinese solar panel industry.
Meanwhile, some members of the US Congress continue to protest that China has undervalued its currency against the dollar, making Chinese goods cheaper in the US and American products more expensive in China.
US Treasury Undersecretary Lael Brainard said on Monday that China's currency remains undervalued, and that Washington will continue to press the issue with its counterparts in Beijing.
"We sincerely hope that everyone could objectively and rationally cope with the issues between the two sides," added Wang.
"China and the US need to create an equal and fair business climate for companies."
He urged both sides to implement plans for better trade and investment cooperation.
Huo Jianguo, president of the Chinese Academy of International Trade and Economic Cooperation affiliated to the ministry, said that due to the timing of the US presidential election, some bilateral economic and trade issues have become too entwined with sensitive political concerns.
"The two sides should jointly seek cooperation on a wide range of sectors, looking at the longer term, rather than getting involved in short-term conflicts and politicizing economic issues," said Huo.
China and the US are the second-largest trade partners of each other. In 2011, bilateral trade reached $446.7 billion, 180 times greater than when the two sides established diplomatic relations in 1979.
