US must drop China decoupling threats and ‘stop burying its head in the sand’, ex-Beijing trade officials say
- Ex-deputy trade minister Long Yongtu says China will do everything possible to maintain its position in global supply chains, despite US threats of decoupling
- Former commerce minister Chen Deming says splitting the two economies is unfeasible and US tariffs have had little impact on its trade deficit with China
Two prominent former Chinese trade officials have hit out at unfeasible US threats of decoupling, while vowing the world’s second biggest economy will do whatever it takes to stay connected to the global trade system.
Long Yongtu, China’s former vice-minister for trade, told a forum in Beijing on Tuesday that China will use “every means and every platform” possible – including the World Trade Organisation (WTO) – to keep itself deeply embedded in the global economy and maintain investment flows.
At the same time, it will also “repair and strengthen” its domestic industries to ensure its central role in global supply chains, said Long, who was China’s chief negotiator for entry into the WTO in 2001.
China remains the largest source of imports for the US and the US trade deficit with China hasn’t changed much
Former commerce minister Chen Deming said US efforts to curb Chinese exports and narrow the trade deficit have not had much impact since the start of the trade war more than two years ago.