No winner in China-US trade war: Boao Forum Official

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It has been 17 years since the Boao Forum for Asia (BFA) was established. CGTN’s Yang Rui had an exclusive interview with Ambassador Zhou Wenzhong, the forum’s Secretary General, to discuss his expectations for the BFA in the coming years and the ongoing trade friction between China and the United States.

Asked why forum’s theme this year is “An open and innovative Asia for a world of greater prosperity,” Zhou pointed to the contributions that Asian countries have made to the world economy, as well as expectations for their development. “That’s why we have four emphases: Globalization, openness, innovation and structural reform.”

With US President Donald Trump imposing tariffs on China’s imports and placing restrictions on areas of investment such as high-tech, Zhou stressed that “there will be no winner in a trade war.”

The Chinese diplomat and former ambassador to the US speculated that Trump’s actions are in line with the upcoming Congressional elections. “He has a campaign promise that he needs to fulfill as the mid-term election is around the corner, as well as Trump wants to cut the size of US trade deficit, so Trump needs to do something to show he is serious about it.”

However, Zhou noted that raising tariffs is not the solution. “That’s [a notion that] many US public leading figures have all agreed [on]. But he believes the negotiation is in process at the China and US working level as they are talking about how to settle this problem through negotiations.”

(Top photo: Asia International Convention Center of the BFA /VCG photo)

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