Envoy to US: Maximum pressure, tariff wars won't work

The Chinese ambassador to the United States has urged Washington to change its "maximum pressure" approach to the bilateral relationship and collaborate to steer it back to a steady and sound path.

In a speech that coincided with the first 50 days of the Trump administration, Ambassador Xie Feng made a candid assessment of the status of China-US relations, noting that heavy-handed strategies, like tariffs or trade wars, are unproductive.

"It is true that China-US relations face challenges and have once again reached a critical crossroads," he said via video link at the "China in Springtime" global dialogue held in Chicago on Monday.

China was mentioned four times in the White House's document, "50 Wins in 50 Days", released on Monday, detailing President Donald Trump's actions.

In addition to imposing fresh sanctions, the Trump administration last Tuesday doubled the blanket 10 percent tariff placed on Chinese imports in February, citing the fentanyl issue, a move that China said was unproductive; it responded with retaliation.

"Maximum pressure, tariff wars or trade wars won't work. Investment restrictions are futile. Using Taiwan to contain China will only backfire," the ambassador said.

Xie also emphasized the historical perseverance of the Chinese people and the country's ability to overcome adversity.

"The Chinese people are resilient — we have endured many hardships yet remain steadfast, confident and perseverant," he said.

"China's development, progress and prosperity are built on the sweat and toil of its people for generations. No one and no force can deny us a better future," he added.

Given the futility of the "maximum pressure" and other restrictive measures, Xie urged Washington to try to change its tactics.

"We hope the US side will reconsider its approach, return to the right path of dialogue and cooperation, and work with China in the spirit of mutual respect, peaceful coexistence and win-win cooperation. Together, let's strive for a stable, sound and sustainable China-US relationship," he said.

In his speech, Xie also countered the narrative of a "foreign capital outflow" from China by emphasizing that the story in China today is one of rising investor confidence in its vast, dynamic market.

Citing reports, Xie noted China is now a key trading partner for more than 150 countries and regions, and last year, it registered a 9.9 percent increase in newly established foreign-invested companies.

In January, investment from Great Britain, South Korea and the Netherlands surged by 324 percent, 104 percent, and 76 percent, respectively.

"Instead of a 'foreign capital outflow', there is rising confidence in China's big market as a top priority," Xie said.

Xie was in Beijing in the past few days attending the two sessions — the annual gatherings of the National People's Congress and the National Committee of the Chinese People's Political Consultative Conference.

He said that through the window of the two sessions, the world sees vast opportunities as a result of high-level opening-up.

The Government Work Report, delivered on March 5, when the annual national legislative session opened, emphasizes stabilizing trade, attracting foreign investment and advancing the orderly opening-up of sectors such as the internet and culture.

Pilot programs in telecommunications, healthcare and education will expand, reaffirming China's commitment to opening-up and global cooperation, according to the work report.

"When economic globalization faces headwinds and countercurrents, China remains steadfast in expanding institutional, self-initiated and independent opening-up," Xie said.

The China Council for the Promotion of International Trade found in a survey that about 90 percent of the more than 400 foreign companies polled in China during the third quarter rated the country's business environment as "satisfactory" or higher.

Nearly 20 percent of those surveyed expressed plans to increase their investment in China, up by 2.07 percentage points from the previous quarter, according to the report, released on Oct 31.

huanxinzhao@chinadailyusa.com