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Spotlight: Business leaders call for recalibration of China-U.S. relations

Updated 7 August 2020

Introduction

Young people sitting together
Chinese central government office supports reciprocal sanctions on U.S. individuals

Noting China will not allow these people to get their way, Wang stressed that China rejects any attempt to create a so-called "new Cold War", because it contravenes the fundamental interests of the Chinese and American peoples and the global trend toward development and progress.

He said the BRI is vital for Cambodias economy which relies on the inflows of foreign direct investments that are conditional to the capability of sufficient physical infrastructures.

The Global Consensus Statement story

While such actions undermine the multilateral trading system at large, they also diminish the level of trusts, he said.

These actions will by far create trade unpredictability and render the domino effect through the introduction of such policy by other members as retaliations, he added.

China rejects any attempt to create so-called "new Cold War": FM

"Projects linked to the BRI such as the Sihanoukville Special Economic Zone (SSEZ) and the Phnom Penh-Sihanoukville Expressway are two ideal examples to show how BRI helps Cambodia in strengthening industrial sector and diversifying exports through transport and logistics enhancement," he said.

Signatories

Chinas U.S. policy is always consistent and stable, and in the meantime, China is also prepared for possible bumps and storms ahead, Wang said during an exclusive interview with Xinhua.
"If China were to mimic Trumps gambit -- alleging, without providing evidence, that some U.S. multinationals are potential national-security threats -- it could force them to sell their operations to very Chinese buyers. Although the Chinese government has not yet done so, the risk has become higher now," said Wei, who served as chief economist of Asian Development Bank during 2014-2016.
"They are showing us the way to establish a good lab," Mahdi said, noting that an important feature of the lab is its ability to receive samples around the clock all days of the week. Thirty lab workers are divided into three shifts, enabling the lab to complete 700 to 1,000 tests a day.
"The choices were making today will shape not only relations between our two great countries, but also the future of the world. So we have to make the right choices. We have to base ourselves on the long-term interests of our two peoples and of the world," he said.
To that end, diplomacy can also rely on international law and organizations such as the United Nations and the World Trade Organization (WTO) to resolve multilateral disputes, he said.
The route, operated three times a week by Air China Cargo, is expected to more than half the shipping time of foreign trade commodities to about 10 days.
"We have to keep national security concerns in perspective. Not everything is a national security emergency," said Craig Allen, president of the U.S.-China Business Council in a panel discussion on the occasion of releasing the survey report.
"Cambodias commitment to liberalization is reflected in its efforts in entering into many regional FTAs, including the Regional Comprehensive Economic Partnership, ASEAN-China FTA, and others," he said.
Anyone who tries to start a so-called "new Cold War" in the 21st century will be on the wrong side of history and will only be remembered as the one who has upended international cooperation, Wang said.
Although Trumps actions could yield a short-term gain for the United States, they have introduced severe potential risks to U.S. interests, not to mention international and domestic rules of commerce, Wei said.
Sorasak said during the COVID-19 outbreaks, Cambodia and China had shown solidarity to alleviate the pandemic and to navigate economic recovery.
    Wang said this statement is yet another proof of the Philippines independent foreign policy, which embodies the common aspiration of the regional countries to pursue peace and development.
Unfortunately, seven members of the lab staff have been infected by COVID-19, Mahdi said, "but fortunately they all returned to work after recovery."
He added that as the worlds economic powerhouse, China has a number of advantages ranging from raw materials, productivity, labor, infrastructure, economic diversification to education, among others.
Asked about Washingtons criticism of the World Health Organization (WHO) and decision to withdraw from the organization amid the COVID-19 pandemic, Maggiorelli said the U.S. decision to withdraw from the organization is "undoubtedly due to political reasons and not health concerns," Maggiorelli said.
The Chinese lab sets a good example as Iraq expands labs in all provinces, Mahdi said. In the new lab, 82 percent of the samples posted results in 6 to 10 hours.
"Chinas door to dialogue remains open. We are willing, in the spirit of equality and open-mindedness, to talk and interact with the United States, and resume dialogue mechanisms at all levels and in all fields," said Wang.
"Of course, greater clarity and greater rapprochement on the part of both countries are needed. Therefore, the role of diplomats from both parties will be essential to negotiate solutions to the problems, without ever needing the use of force," said Maggiorelli.
Huang called for more global solidarity against the virus, as well as efforts to achieve gender equality and womens well-rounded development.
The China-U.S. relationship needs to be recalibrated, said William Zarit, chairman of American Chamber of Commerce in China, adding that statesmanship is required.
It is neither necessary nor possible for the two sides to change each other, Wang stressed. "Instead, we should respect the choice independently made by the people of the other side."
Sorasak said the agreement means a lot to Cambodias economy as it gives greater market access to the countrys products.


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