Trade is the essence

SHI YU/CHINA DAILY

Predictions that China-US frictions will escalate after Donald Trump became the United States president have proved wrong. Following the meeting between Chinese President Xi Jinping and Trump at Mar-a-Lago, Florida, China watchers should reflect on the tone of the interaction between the two leaders and the meetings between their nations' diplomatic and financial officials. The tone was cooperation.

Since neither side can afford to sacrifice cooperation, China-US relations will continue to sail forward, buoyed by the two countries' nearly $520 billion trade volume.

Two-way trade and mutual investment in 2015 created 2.6 million jobs for the US, according to data from the Washington-based US-China Business Council. The best way to ensure people in both countries benefit from this relationship is to make a larger "cake" of shared interests, which can be done only through cooperation.

A closer inspection of the trade imbalance between the two countries shows 40 percent of China's trade surplus with the US came from US companies operating in China. So if a trade war breaks out, foreign-funded companies, particularly US ones, would lose out.

The Xi-Trump meeting has sent out a positive message to the world. Based on the principle of no-conflict, no-confrontation, mutual respect and win-win cooperation, China is ready to work with the US to deepen cooperation and manage differences.