"As pointed out in a IMF report issued this July, if the US further escalates the trade friction with China, it would decrease the world GDP growth by 0.5%, which amounts to 450 billion US dollars." the Ambassador said during an interview with Medcom.id on Friday, August 30, 2019.
According to the Ambassador, the US government's actions not only undermines China’s interest, but also seriously damages the multilateral trading system and normal international economic order.
Ever since the kick-off of the China-US economic and trade consultations in February 2018, the US has backtracked on its commitments in the China-US economic and trade consultations once and again.
The Ambassador said that the Chinese government hopes the US does not misjudge the situation, stop wrong doings, and find a solution to the friction acceptable to both sides through consultation, on the basis of mutual respect and equality.
He also stressed that China’s necessary counter measures, in its essence, is maintaining multilateralism and free trade as it serves the common interests of the International community.
"China does not want a trade war, but it is not afraid of one. China will not compromise on major issues of principle," the Ambassador stated.
"China will firmly deepen its reform and opening up. China’s great domestic market will keep open to the outside world, which will bring more opportunities to countries around the world, he explained.