Keynote Speech by H.E. Ambassador Liu Xiaoming at the Navigate the New Silk Road Forum: China Stays Committed to Openness, Cooperation and Consultation, and Brings Confidence to the World

Now let me turn to the third question of my speech. It is about the China-US relations and trade talks, which has caught the world's attention. How can the two countries avoid the "Thucydides trap" and a "trade war" that could do so much harm to the world economy?

Once again, China's answer to this question is clear: We remain committed to dialogue and consultation. This commitment will boost confidence in the ability of the world economy to remain stable.

China has been committed to addressing trade frictions through dialogue and consultation. Not long ago, the Chinese and US Presidents met during the G20 Summit in Osaka. The two sides agreed to restart the trade talks on the basis of equality and mutual respect.

The UK business community has followed the event closely and is eager to know whether the agreement will be delivered. And British media kept sounding me out about the prospect of China-US trade talks.

I do not have a crystal ball, but I think the following four points are very important for the future of China-US relations:

First, China and the US should have a right understanding of each other's goal.

Forty years of China-US diplomatic relationship show that the two countries stand to gain from cooperation, and lose from confrontation. Therefore, it is important the two sides see each other as a partner rather than a rival.

For China, the ultimate goal of development is to meet the aspiration of the Chinese people for a better life. It is not China's goal to challenge or replace anyone. China will not go down the beaten path of Western powers and let its development lead to hegemony. Instead, China will remain committed to the path of peaceful development.

Second, China and the US should view their competition in a sensible manner.

In an age of economic globalisation, both cooperation and competition are part of a normal relationship between countries. With a broad mind and a broad horizon, it would not be hard to see that the world is big enough for all countries to achieve common development and prosperity.

If we over-exaggerate competition, we could run the risk of missing the opportunities. The right thing to do is to renounce the zero-sum mentality of "you lose, I win". Only by doing so can we engage in healthy competition and at the same time deepen cooperation for win-win results.

Third, China and the US should shoulder due responsibilities as big countries.

Big countries have big responsibilities for regional and world peace and development, but not big power to be bossy.

By safeguarding its legitimate interests in trade talks, China has shouldered its responsibility for global economy and trade. We call on other countries, especially big countries, to act in a responsible manner, head towards the same direction and uphold the rule-based multilateral trade system.

Fourth, China and the US should join hands to safeguard the common interests of the world.

A peaceful and stable international environment serves the common interests of China, of the US and of the international community. No one can stay aloof from this "trade war".

Investors are easy victim of unilateralism, protectionism and bullying trade policies. The business community should not be the "silent majority". I hope you will stand up in support of open and free trade, uphold the multilateral trade order, and promote economic and financial cooperation. I hope you will take concrete action to put confidence and positive energy back into the world economic growth.

Ladies and Gentlemen:

As a saying goes,

"If you want to go fast, walk alone;

If you want to go farther, walk together. "

China will develop better in a better world; and the world will be a better place with a better China.

China stands ready to share its development opportunities through further opening up. China will pursue common development through consultation. China will promote win-win results through better cooperation. China will work hard to bring back confidence in the world economy.

I hope the business leaders of our two countries will carry forward the spirit of openness, cooperation, consultation and partnership. In that spirit, I hope and believe you will work together to overcome all difficulties and build a better future for our world!

In conclusion, I wish this Forum success!

Thank you!