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CALLING FOR CONSULTATIONS BASED ON EQUALITY, MUTUAL BENEFIT|
As the two largest economies and trading nations in the world, it is only natural that China and the U.S. will experience some differences over trade and economic cooperation, the white paper said. "What truly matters is how to enhance mutual trust, promote cooperation and manage differences."
Mutual respect means that each should respect the other's social system, economic system, development path and rights, core interests, and major concerns. It also means that one side should not cross the other's "red lines". The right to development cannot be sacrificed, still the less can sovereignty be undermined, according to the white paper.
As for equality and mutual benefit, the two sides in the consultations should operate on an equal footing, and results should be mutually beneficial. "Negotiations will get nowhere if one side tries to coerce the other or if only one party will benefit from the outcomes," the white paper said.
Wang Shouwen said China was willing to settle trade friction through cooperation to achieve a win-win agreement, while stressing that China will not give ground on issues of principle.
Wang called on the United States to meet China half way, uphold the spirit of mutual respect, equality and mutual benefit, and jointly promote the stable and healthy development of bilateral economic and trade relations.
"If any agreement is reached, it should be based on equality and mutual benefit," he said.
China remains committed to its own cause no matter how the external environment changes. The fundamental solution to economic and trade tensions is to grow stronger through reform and opening up.
With the enormous demand from the domestic market, deeper supply-side structural reform will comprehensively increase the competitiveness of Chinese products and companies, the white paper said.
Besides, the country still has sufficient room for fiscal and monetary policy maneuvers, so it can maintain sound momentum for sustainable and healthy economic development, the white paper added.