#China should adapt to changes in the international environment and corresponding institutions with an open mind to cope with challenges brought by economic slowdown and trade uncertainties, said cf40 senior fellow Zhang Bin: cf40.org.cn/uploads/ZB2019…
Reducing import #tariffs to avoid an increase in effective tariffs. A low import tariff demonstrates China’s open attitude, which is especially valuable today given that protectionism is prevailing globally.
China does not have sufficient domestic products to serve as substitutes for US goods.Rise in import prices due to introduction of tariffs has had additional negative effects on domestic #economy.Reducing import tariffs on products from other regions can produce positive effects.
Resolving international disputes within a multilateral framework, participating in regional economic cooperation endeavors, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and promoting WTO reform.
Regardless of whether or not China and the US reach an agreement, China needs to continue to open up to the world and encourage a more friendly international economic and trade environment.
China needs to treat manufacturing industry and service industry equally, be open to internal and external markets and strengthening the international competitiveness of medium- and high-end services, ensure fair competition, and improve regulatory measures.
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