Economy

It's economics, not politics

By Li Xing (China Daily)
Updated: 2011-05-13 09:23

A wind turbine blade manufactured by China's Tang Energy Group is unloaded at the Port of Long Beach, California for delivery to the Tooele Army Depot in Utah. [Photo / Provided to China Daily]

Vice-premier warns against missing bilateral cooperation opportunities

WASHINGTON - China and the United States must make the most of their economic relations and guard against politicizing economic issues, Vice-Premier Wang Qishan said on Tuesday and Wednesday in his meetings with 20 US lawmakers and Ben Bernanke, chairman of the US Federal Reserve.

The two sides need to "depoliticize" economic issues, or else they will miss a great opportunity for bilateral economic cooperation, Wang was quoted as saying in a statement released by the Chinese Foreign Ministry.

It is common that tensions will arise as China and the US expand and deepen their economic activities, but the two countries should avoid politicizing economic issues, increase communication and enhance understanding, Wang told lawmakers, including Dave Camp, chairman of the US Ways and Means Committee, Charles Boustany and Rick Larsen, co-chair of the US-China Working Group.

Wang told the US legislators that China is not pursuing a trade surplus with the US and is willing to increase imports from the US, but it will benefit both countries if the US eased restrictions on high-tech exports.

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China believes that economic collaborations between China and the US will benefit not only both countries but also the world, Wang told Bernanke, adding that China is willing to increase cooperation with the US in trade, investment, finance and infrastructure construction.

While hailing a fruitful third round of the China-US Strategic and Economic Dialogue on Tuesday, he said that ensuring a strong global economic recovery is a top priority.

The two countries must increase their cooperation within the G20 and gradually advance the reform of international economic rules and increase the representation of emerging markets and developing economies.

Agreeing with Wang, Bernanke said that cooperation between China and the US is essential in bringing about a stable recovery of the global economy.

Also on Wednesday in his meeting with Luis Alberto Moreno, president of the Inter-American Development Bank (IDB), Wang said China and Latin America should boost financial, economic, trade and investment cooperation by vigorously promoting economic and trade relations between China and Latin America.

The IDB has been acting as a bridge in the process, making its contribution to Chinese-Latin American economic cooperation, Wang said.

Moreno said China's development offers an important opportunity for Latin America and the Caribbean region, and the IDB would like to deepen its cooperation with China to promote mutual development.

The Washington-based IDB is the main source of multilateral financing and has expertise in sustainable economic, social and institutional development in Latin America and the Caribbean.

Xinhua contributed to this story.