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(People's Daily Online) Recently, US President Donald Trump tweeted that China’s second quarter growth “is the slowest it has been in more than 27 years” and suggested that China is desperate to make a deal because “thousands of companies are leaving” the country. The comment creates the false impression that China needs a trade deal to save its economy when the truth of the matter is that both sides hope to reach a deal on trade.|
Trump’s tweet came after the National Bureau of Statistics released data on China’s economic performance for the first six months of the year. Geng Shuang, a spokesperson for the Foreign Ministry, responded to the comment at a regular press conference on Tuesday, noting that despite slower global economic growth and growing uncertainties and instability, China’s GDP still grew 6.3% in the first half the year.
“I think this is still a good performance, especially compared to other major economies. Better than most,” the spokesperson said.
China could have spurred faster economic growth with massive stimulus policies, but the country is focused on high-quality economic growth and restructuring and is just trying to maintain stable economic growth, which it did. The comment shows that Trump does not understand the realities of the larger situation.
Economic growth in the world’s second largest economy is slowing down, but China is in the midst of transitioning to high-quality development and the growth rate of 6.3% is what most analysts had expected. Despite this, China is still powerhouse for global development, which benefits the world economy and the US economy, too.
Only a jealous and bitter person would celebrate economic slowdown in other countries. President Trump’s remarks create the false impression that the US side holds all the aces and that China is basically on its knees begging for a trade deal. This is like pulling the wool over the American people’s eyes, who largely oppose the trade war and the additional tariffs on Chinese goods.
The reality is that both sides hope for a deal, but China will not be bullied by Trump into an unfair deal. If a trade deal is going to be reached, then the United States will need to work with China and meet China halfway. Dialogue and mutual respect are key. If the United States works with China through dialogue and with respect, then a mutually beneficial trade deal can be reached, and this is in the common interest of the both peoples as well as the world.