Visiting Chinese Premier Wen Jiabao said on Dec.8 that he came to the United States to seek
friendship and cooperation, not trade war.
In a speech at a luncheon hosted by the American Bankers
Association in New York, Wen said, "Let me first assure you that I
have come to this country to seek friendship and cooperation, and
not to fight a trade war. We should not and will not fight a trade
Wen said a strategic perspective of vision and foresight needs
to be taken in approaching problems in China-US trade.
"Problems such as US trade deficit with China, the Renminbi
exchange rate, and intellectual property rights protection, are of
concern to many quarters of US society. But they are also problems
that come along with expanded China-US trade, and they can be
ironed out gradually since common understanding on them is
entirely obtainable. They should not, and will not, stand in the
way of the larger interests of China-US trade," Wen said.
Wen said that as bilateral trade and economic relations grow in
size, some frictions are hardly avoidable. "So long as the two
sides act in good faith, such problems can be resolved properly
through equal consultation and expanded cooperation."
The Chinese premier said that both the United States and China
had reaped tremendous benefits from the rapid expansion of
bilateral trade which increased from merely 2.5 billion US dollars
in 1979 to over 100 billion dollars at present.
He said trade and commerce form the economic foundation of
China-US bilateral relations. "Being mutually beneficial and win-
win, China-US trade and economic ties have not only delivered
tangible economic benefits to the two peoples, but underpinned the
overall relationship, giving it a powerful driving force for a
He said the reason for such a rapid growth in China-US trade
lies, in the final analysis, in the high degree of complementarity
of the two economies, which, to a large extent, stems from their
big differences in economic resources, economic structures and
consumption levels," he said. "Such diversity and complementarity
will remain for a long time, and are likely to feature more
prominently in the ongoing economic globalization," he said.
He said China does not seek long-standing excessive trade
surplus, but work to maintain a basic balance between import and
He said the rapidly growing Chinese economy will not only
benefit the 1.3 billion Chinese people, but also expand the
horizon of trade and economic cooperation between China and other
countries, the US included, creating a huge number of
opportunities for Chinese and American businesses.
Wen said the Chinese government will continue to encourage
foreign investment and protect foreign investors in China, and
urged American business and financial communities to seize the
opportunities offered by China's rapid economic growth and expand
their presence in the Chinese market.
"We want to see more large US firms working together with
Chinese enterprises, and we hope the small and medium-sized US
firms can also join in," he said.
Wen expressed full confidence in the future of China-US trade
and economic cooperation. "The road ahead might not be all smooth
sailing, but the prospect is surely promising."
Over 100 people, including former US Secretary of State Henry
Kissinger, were present at the luncheon.