HONG KONG, July 9, 2019 /PRNewswire/ -- At a pivotal point in China-US relations and following the recent G-20 summit in Osaka, Japan, the United States and China are facing profound changes in their economic relationship and must resume trade negotiations on the basis of coordination, cooperation and stability, agreed panelists in a session today during the "US-China Trade & Economic Relations: What Now, What Next?" forum hosted by the China-US Exchange Foundation (CUSEF) and the China Center for International Economic Exchanges (CCIEE).
Over 40 past and current major stakeholders and influencers in the China-US relationship including, former Prime Minister of Japan Yasuo Fukuda, CCIEE Chairman and former PRC Vice Premier Zeng Peiyan, Chairman of Asian Studies Center at the Heritage Foundation Ed Feulner, CPPCC Vice Chairman Tung Chee-hwa, current government officials, senior business leaders and renowned scholars from the United States, China and other Asia Pacific countries came together in an effort to address the current challenges facing bilateral relations and how China and the US should move forward.
Tung Chee-hwa, the founder and Chairman of CUSEF, set the tone in the forum's opening session stating, "I hope our discussions will not only be useful and give inspiration but also will encourage people to take an extra step in support of this very important US-China relationship. I also hope that at the end we can come away more confident about the future," he added.
Adding to the optimism and hope for progress in the trade negotiations between the US and China, CCIEE Chairman Zeng Peiyan said that, "I hope that both sides will respect each other's core interest and address each other's reasonable concerns so as to implement the principles set by the two presidents and to reach an acceptable trade agreement through making continued progress and meeting each other halfway."
During the forum's open and closed sessions, speakers strove to contribute tangible ways to deepen mutual understanding between China and the United States by encouraging a rules-based multilateral trade system and supporting the long-term, sustainable development of the global economy. They also spoke candidly of the challenges that must be addressed.
Former Prime Minister of Japan, Yasuo Fukuda stressed that the problem facing China today is very similar to what Japan had experienced decades ago, recalling numerous US demands. "Throughout these bilateral negotiations, we were often compelled to make concessions. But ultimately, all the difficulties we had to undergo proved to be a way to modernize and internationalize Japanese industries and society."
Ed Feulner, Chairman of Asian Studies Center at the Heritage Foundation, said in his remarks that the current US-China relationship is going through a watershed moment. "No matter what the outcome of the 2020 presidential election, it is not a viable strategy to wish things would go back to the way they were," he said. "I believe the president-elect or president re-elect from either political party will not revert to a pre-Trump position on US-China economic relationship." Feulner also noted a number of challenging issues during the negotiation process, including IP rights, transfer of technology, cybersecurity, China's developing status as a growing nation, and confusion after months of negotiation. "The challenges we face are real, but so is the opportunity. An upgraded China-US relationship must be our shared goal."
The forums other participants include: William Daley, former US Secretary of Commerce and BNY Mellon Vice Chairman; Neil Bush, Founder and Chairman of George H.W. Bush Foundation for US-China Relations; Zhang Xiaoqiang, Executive Vice Chairman and CEO of CCIEE and former Vice-Director of the Chinese National Development and Reform Commission; Wei Jianguo, Vice Chairman of CCIEE and former Vice Minister of the PRC Ministry of Commerce; William Owens, former Vice Chairman of the Joint Chiefs of Staff and Red Bison Advisory Group Executive Chairman; Max Baucus, former US Ambassador to PRC; former US Senator Mark Kirk; and Stephen Roach, Senior Fellow of Yale University's Jackson Institute of Global Affairs, amongst many others.
The second day of the forum will host panels on the future of globalization and US-China relations. Speakers will include Jean Chrétien, Former Prime Minister of Canada; Goh Chok Tong, Emeritus Senior Minister, Republic of Singapore; Zhou Wen Zhong, Member of the Advisory Committee, Boao Forum for Asia (BFA); and Ambassador Karl Eikenberry.
Note to Editors:
About the China - United States Exchange Foundation
The China-United States Exchange Foundation (CUSEF) is an independent, non-profit and non-governmental foundation committed to the belief that a positive and peaceful relationship between the strongest developed nation and the most populous, fast-developing nation is essential for global wellbeing. Founded in Hong Kong in 2008 and privately funded, CUSEF builds platforms to encourage constructive dialogue and diverse exchanges between the people of the U.S. and China. For more information please visit https://www.cusef.org.hk/.
About the China Center for International Economic Exchanges
Founded on March 20th, 2009, China Center for International Economic Exchanges (CCIEE), is a social organization and a new type of think tank, registered with and approved by the relevant authorities of the Chinese government. Guided by the philosophy of "Originality, Objectivity, Rationality and Compatibility", CCIEE aims to serve national development, improve people's welfare and promote exchanges and cooperation by conducting research on strategic and economic issues both at home and abroad, developing international exchanges and cooperation and providing consulting services and intellectual support to the government and business in decision making. For more information, visit www.cciee.org.cn.
SOURCE China-United States Exchange Foundation