Foreign and Military Affairs

Vice-Premier: Do not politicize economic issues

By Li Xing (chinadaily.com.cn)
Updated: 2011-05-12 10:01

WASHINGTON – China and the United States must make the best of their economic relations and guard against politicizing economic issues, Chinese Vice-Premier Wang Qishan said on Tuesday and Wednesday in his meetings here with 20 American lawmakers and Ben Bernanke, chairman of the United States Federal Reserve.

The two sides need to "depoliticize" economic issues, or else they will miss the great opportunity in bilateral economic cooperation, Wang was quoted as saying in a press release by the Chinese Foreign Ministry.

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It is common that tensions arise as China and the US expand and deepen their joint economic activities, but the two sides should avoid politicizing the economic issues, increase communication and enhance understanding, Wang told the lawmakers, who included Dave Camp, chairman of the Ways and Means Committee, Congressmen Charles Boustany and Rick Larsen who co-chair the US-China Working Group in the lower chamber.

China does not pursue trade surpluses with the US and is willing to increase imports from the US, but it will be beneficial to both countries if the US genuinely eases its restrictions on high-tech exports to China, Wang told the American legislators.

China believes that economic collaborations between China and the US will benefit not only both countries but also the world, Wang told Bernanke, adding that China is willing to increase cooperation with the US in trade, investment, finance and infrastructure construction.

While hailing as fruitful the just-concluded third round of China-US Strategic and Economic Dialogue on Tuesday, he said ensuring a strong global economic recovery is of top priority.

The two countries must enhance their cooperation within G20 and gradually advance the reforms international economic rules and norms and increase the voice and representation of emerging markets and developing countries.

Agreeing with Wang, Bernanke said that the cooperation between China and the US is essential in bringing about stable recovery of the global economy.

Also on Wednesday, in his meeting with Luis Alberto Moreno, president of the Inter-American Development Bank (IDB), Wang said China and Latin America should boost cooperation in the areas of finance, economy, trade and investment, promoting vigorously a rapid development of the economic and trade relations between China and Latin America.

The IDB has been acting as a bridge in the process, making its contributions to the economic cooperation that serves China and the Latin America region, Wang said.

Moreno said that China's development is offering an important opportunity for Latin America, and the IDB would like to deepen its cooperation with the Chinese side to promote mutual development of the Latin America and the Caribbean region as well as China.

The Washington-based IDB is the main source of multilateral financing and expertise for sustainable economic, social and institutional development in Latin America and the Caribbean.

Xinhua contributed to the story