Deputy Prime Minister He Lifeng, preparing to conduct a key trade circular with American officials at the end of this week, stated that the Chinese economy was doing well and would proceed to open up to abroad investment.
"The Chinese economy is doing well this year, public assurance and expectations proceed to grow," said He during a gathering with Beijing's visiting head Abu Dhabi Investment Authority.
"We invitation abroad financial institutions and long-term investors to come to China to grow their business and share improvement opportunities," he added.
These were He's first public remarks since Beijing announced that he would be chairing a Chinese delegation that would meet US Treasury Secretary Scott Bessent this weekend in Switzerland and sales typical Jamieson Greer.
The talks will be the first authoritative trade negotiations between China and the United States since president Donald Trump's return to office in January, and many hope that the gathering will be the first step towards the deescalation of the unprecedented trade war between the 2 world's largest economies.
Trump imposed as much as 145% of the additional duties on Chinese goods this year, to which Beijing responded with 125% of the retaliatory duties. Excruciatingly advanced tariffs have already caused a sharp slowdown in trade, shaken financial markets and raised concerns about possible occupation cuts in both countries.
Analysts warn, however, that the road to a lasting trade agreement between the US and China will be long.
"Investors should not confuse China's commitment to talks with China's signing of any agreements. However, if this happens, it will be another example of the fact that markets are moving around with reality," wrote Tarry Haines, founder of the American consulting company Pangaea Policy.
The U.S. Treasury Secretary himself was 1 of the first to call on investors to limit enthusiasm, in comments made shortly after his department announced a gathering with Chinese trade negotiators.
"My feeling is about deescalation, not a trade deal. We must lead to deescalation before we can decision forward," said Scott Bessent in an interview with Fox News.
On the Chinese side, there has been quite a few skepticism over the anticipation of a lasting agreement with Trump and his administration. The Chinese simply don't trust the American side, which can't be surprising, given the experience gained since the start of the fresh administration in Washington.
"Let us not imagine that there can be a "big deal" with Trump, which will be balanced and unchangeable in the long term. It is now clear to all countries (not only China – ed.), so they are little and little inclined to rapidly scope an agreement with him (Trump – ed.)," said Chen Dongxiao, president of the Shanghai Institute for global Studies, in an interview with Jiefang regular published on Tuesday, April 6.
"However, reaching common compromises in certain small, circumstantial areas is evidently possible," Chen added.
Source: SCMP
Leszek B. Glass
Email: [email protected]
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