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China, US economic ‘decoupling’ not realistic, a ‘lose-lose’ plan: Top Chinese official

economictimes.indiatimes.com

The economic links between China and the US is determined by the highly complementary nature of respective economic structures and the openness of the global economy, Han Wenxiu, deputy director of the Office of Central Commission for Financial and Economic Affairs, told a media conference of the CPC Central Committee.

Beijing: Deriding the talk of “decoupling” of trade and economic ties between China and the US as a “lose-lose” plan, a senior Chinese official on Friday underlined that such a move was not realistic at all and neither will it bring any benefit to the two countries, nor to the world.In fact, those who truly want a ‘decoupling’ only represent a minor minority and those who pursue cooperation are the overwhelming majority,” he told the conference convened to flag the highlights of the just-concluded Plenum conclave of the ruling Communist Party of China (CPC).The key conclave finalised a new Five-Year Plan and the Development Plan for 2035.Complete economic “decoupling” between China and the United States is “not realistic at all, and neither will it bring any benefit to either countries or the world”, Han emphasised.”The complete decoupling is a lose-lose plan,” he said, replying to a question on the decoupling of trade and economic ties between the world’s top two economies.Han noted that the China-US trade volume was up by 16 per cent year-on-year in the third quarter even with global trade hit hard by…

PTI

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