10. China's position and attitude toward China-US economic and trade frictions

Since some people in the US provoked the Sino-US economic and trade frictions, the two sides increasingly took divergent approaches to this issue. That is, should it be taken as a zero-sum game or based on mutual benefit, being addressed through confrontation or cooperation? Should the countries stay enclosed or open-up, maintaining a monopolistic or competitive market? Should the countries stick to unilateralism or multilateralism? All these differences are underpinned by the ultimate question of whether the world is governed by the old way of hegemonism, or a new approach by building a community with a shared future for mankind. China's position and attitude toward these major fundamental issues is clear, firm and consistent.

Faced with the economic and trade frictions provoked and escalated by some people in the US, China does not want a trade war. However, the country is not afraid of a trade war and will fight one if necessary. Proceeding from safeguarding the common interests of the two countries and the world trade order, China has responded to the concerns raised by the US with great sincerity. China overcame various difficulties, proposed practical solutions, and conducted 11 rounds of high-level economic and trade consultations with the US, which demonstrated China's sincere desire of not fighting a trade war. However, the US has continuously challenged China's bottom line and overstepped the red line of norms governing international relations, attempting to sacrifice China's rights to development and even damaging China's sovereignty and dignity. This can in no way be accepted by the Chinese people. China expects the two sides to reach a win-win agreement based on mutual respect, equality and reciprocity. China's sincerity is consistent, while its principle is firm. China will not fear any threat or oppression from the US side to escalate the economic and trade frictions. China has no choice or line of retreat, but to fight resolutely to the end. No one or any force should underestimate the iron will of the Chinese people and their strong resilience for a protracted war!

Facing the unilateralism and protectionism pursued by the US government, China is committed to mutual benefit and win-win progress, striving to build a community with a shared future for mankind. China will continue to play its role as a responsible major country, firmly uphold global and regional strategic stability, promote mutually beneficial and win-win cooperation with other developed countries and developing countries, unswervingly follow the path of peaceful development, and work for the building of a community with a shared future for mankind. As a permanent member of the UN Security Council, China will continue to work together with the international community, to resolutely safeguard the international system with the UN as the core based on the basis of international law. China will work to build a new type of international relations featuring mutual respect, fairness, justice and win-win cooperation, and will work to build an open, inclusive, clean and beautiful world that enjoys lasting peace, universal security and common prosperity. China will further promote high-quality development of the Belt and Road Initiative, follow the principle of extensive consultation, joint contribution and shared benefits, and strive to achieve policy consultation, infrastructure connectivity, trade promotion, financial cooperation and people-to-people exchanges. China will build a global connectivity partnership, create new development opportunities for all countries, and move forward toward a community with a shared future for mankind.

Facing continued challenges and disruptions to the existing international order by some people in the US, China has firmly upheld the multilateral trading system and actively participated in leading the reform and development of the global governance system. As a firm defender and builder of the current international order, China has worked hard to make the global governance system more just and equitable, which meets the general needs of all countries. The reform of the global governance system should better reflect the changes in the international landscape, and reflect the will and interests of most countries – especially the emerging markets and developing countries – in a more balanced way. Advancing the reform of the global governance system does not mean to scrap the old system or rebuild a new one. Rather, it means to keep the global governance system up with the times, and improve it with innovation. As the world's largest developing country, China firmly abides by and upholds the WTO rules, supports an open, transparent, inclusive and non-discriminatory multilateral trading system, and backs necessary reform of the WTO. China sticks to the road of opening-up, integration and mutual benefit, strives to build an open world economy, strengthen cooperation within the G20, APEC and other multilateral frameworks, promote trade and investment liberalization and facilitation, and address global economic problems of imbalance and inequality, promote economic globalization toward more open and inclusive, balanced and win-win development.

In the face of the adverse impact of Sino-US economic and trade frictions, China will stick to its independence and self-reliance, deepen reform and opening-up, unswervingly follow the path of high-quality development, and earnestly run its own affairs well. Regardless of past, present and future, China will develop the country and the nation by mainly relying on its own strength, maintain national dignity and confidence, and stick to its own path. China will speed up the process of enhancing its independent innovation ability and strength, strive to independently control the core technologies, and firmly grasp the initiative of innovative development.

No matter how the situation develops, China earnestly runs its own affairs well. The fundamental way to deal with economic and trade frictions is to develop itself through reform and opening-up. China will continue to deepen reform and opening up. China will not close its door, but rather open it even wider. In his keynote speech of the opening ceremony of the Second Belt and Road Forum for International Cooperation, President Xi Jinping announced that China will adopt a series of major reform and opening-up measures to strengthen institutional and structural arrangements and promote higher-level openness, including widening market access for foreign capital, strengthening international cooperation in intellectual property protection, increasing imports of goods and services on a larger scale, implementing international macroeconomic policy coordination more effectively, and paying more attention to the implementation of the opening-up policy. The more China opens up its door, the better it will interact with the world and contribute to progress and prosperity for both China and the world.