China’s development not charity or gifts of others: Spokesperson

BEIJING, Oct 10 (INP): As a big country with a population of nearly 1.4 billion people, China’s development cannot count on the charity and gifts of others.

“I am afraid that no country has this strength to “rebuild” China, said a spokesperson of the Chinese Foreign Ministry Lu Kang while commenting on US leaders’ claims that their country has generated a huge deficit in trade with China.

The American leader’s statement owes China’s development achievements to the United States. It is not only completely inconsistent with the facts, but also logically untenable.

According to the spokesperson, “First, the development of any country is fundamentally on its own. China’s tremendous development achievements so far have relied on the correct leadership of the Communist Party of China and the socialist road with Chinese characteristics.

It relies on unswervingly promoting deepening reforms and expanding openness, relying on the hard work and wisdom of all Chinese people. Of course, China is not closing its doors to build, but opening its doors to mutually beneficial and win-win cooperation with other countries.

Second, the US trade deficit with China is the result of multiple objective factors. In the White Paper on the Facts about China-US Economic and Trade Frictions and China’s Position in September this year, we have comprehensively elaborated on this.

In a nutshell, the US trade deficit with China is based on the comparative advantages and international division of labor between China and the United States.

The pattern is determined. Economists in the United States have long been public. China’s foreign trade has always followed the laws of the market and is doing fair trade.

The United States has bought more from China and sold less to China, especially in the long-term self-limitation of exporting high value-added products to China. Naturally, there will be a deficit.

It is neither fair nor reasonable for the US to blame China for this.

Third, bilateral trade between China and the United States is by no means a so-called “one-way street” for the United States to deliver wealth to China.

For a long time, the United States has obtained extensive and enormous economic benefits from Sino-US economic and trade cooperation.

According to estimates by the US-China Business Council and other institutions, Sino-US trade saves an average of $850 per American household per year.

According to the statistics of the Ministry of Commerce of the People’s Republic of China, in 2016, US companies achieved sales revenue of approximately US$606.8 billion in China, with profits exceeding US$39 billion.

According to a research report released by Deutsche Bank in June this year, the United States actually obtained more commercial net benefits than China in the bilateral trade process between China and the United States.

These data and analysis show that Sino-US economic and trade cooperation is essentially mutually beneficial and win-win. No one wants to do anything to lose money, let alone more than 20 years.”

The spokesperson urged the US to correct its attitude, respect the facts, stop accusations against China, correctly view China-US economic and trade relations, and do more things that benefit the business and consumers of China and the United States.