Former Chinese vice-premier Zeng Peiyan accuses US of making trade frictions worse

Speaking at a conference on US-China relations, he says battle has seriously undermined the growth prospects of the two countries and the world

He also says trade deficit with China is a result of US dollar’s role as a global currency, America’s domestic consumption and industrial structure

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Former vice-premier Zeng Peiyan accused Washington of continuing to escalate trade tensions. Photo: AP

Published: 10:00pm, 9 Jul 2019Updated: 10:49pm, 9 Jul 2019

A former Chinese vice-premier on Tuesday accused the United States of worsening the trade war, as Beijing digs in for a protracted battle with Washington.

Zeng Peiyan, who was vice-premier from 2003 to 2008 and a top economic policymaker in Beijing, said the US should not complain about its trade deficit with China because it was a result of the US dollar’s role as an international currency, domestic consumption in America and its industrial structure.

Speaking at a conference on US-China relations in Hong Kong, Zeng did not name Donald Trump in his speech, but was apparently seeking to counter criticisms of China and its trade practices by the US president and his officials.

Zeng – who is now chairman of the China Centre for International Economic Exchanges, a think tank in Beijing that organised the event – said it was Washington that had continued to escalate trade frictions with Beijing and it had seriously undermined the growth prospects of the two countries and the world.

Zeng Peiyan was vice-premier from 2003 to 2008 and a top economic policymaker in Beijing. Photo: Xinhua

“Not long ago, some people in the US alleged that due to its trade deficit with China, the US has suffered losses. Such a view is lopsided and lagging behind the development of the times,” said Zeng, adding that the view did not make sense.