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First recovery! China and the United States set up a working group in the economic field! Why?
Sep 27,2023
Recently, the Ministry of Finance and the People's Bank of China announced that China and the United States have established a working group in the economic field of the two countries to hold regular or irregular meetings to strengthen communication and exchanges on issues related to the economic and financial fields.
The move, which aims to provide a policy communication platform for the world's two largest economies, is the latest sign of a thaw in relations between the two countries.
China and the United States set up economic working group
According to official media reports, in order to implement the important consensus reached at the Bali meeting between the heads of state of China and the United States, according to the consensus reached by He Lifeng, Vice Premier of the State Council and the Chinese leader of Sino-US economic and trade, and US Treasury Secretary Janet Yellen, China and the United States agreed to establish a working group in the economic field, including the "economic working group" and the "financial working group".
The "Economic Working Group" is led by vice-ministerial officials of the Ministry of Finance of China and the United States, and the "Financial Working Group" is led by vice-ministerial officials of the People's Bank of China and the US Treasury. The two working groups will hold regular and irregular meetings to strengthen communication and exchanges on issues related to the economic and financial fields.
Premier Li Qiang of the State Council said that the world needs an overall stable Sino-US relationship, and whether China and the United States can get along correctly is related to the future and destiny of mankind.
Last year, President Xi Jinping and President Biden successfully met in Bali, Indonesia, and reached a series of important consensus, which pointed out the direction for Sino-US relations.Mutual respect, peaceful coexistence and win-win cooperation are the basic and correct ways for countries to get along with each other.
Chinese civilization has always emphasized peace and opposed bullying. It is hoped that the US side will uphold a rational and pragmatic attitude and act in the same direction with China to push Sino-US relations back on track at an early date.
U.S. Treasury Secretary Yellen said that the U.S. does not seek to "decouple and break the chain" and has no intention to hinder China's modernization process. It is willing to implement the consensus reached by the two heads of state in Bali, strengthen communication, avoid misunderstandings due to differences, and stabilize the macro economy. Strengthen cooperation in responding to global challenges and seek mutual benefit and win-win results for the US and China economies.
Reasons for the United States to set up a working group
First of all, it is certain that the United States has attached great importance to the economy, and its attitude towards China is willing to develop hand in hand.
The first reason is that the U.S. economy is now experiencing unprecedented problems.
Internationally, I believe many people are concerned that many economists and scholars have publicly come forward to say that there may be a very serious debt crisis in the United States.
If there is a very serious debt crisis in the United States, not only the United States will be affected, but the whole world will be affected. Therefore, when the United States has unprecedented economic problems, China is also very happy to develop hand in hand with the United States in a peaceful way.
The second reason is that the United States has found that they are increasingly inseparable from China in terms of economy. As we all know, China is currently a major economic country, and China's market is also the market that many countries in the world dream.
The United States knows very well that China can help them a lot in terms of economy, and it also knows that open and honest cooperation with China is the right choice.
The third reason is that current US President Biden is preparing for his 2024 election in advance.
As early as before, there was news that the Biden administration would choose to cooperate with China in order to meet next year's election.Although I don't know whether this news is reliable or not, there may be a reason why the Biden administration suddenly changed the wind and cooperated with China.
Why did China agree?
There are also certain reasons why China has agreed to the United States to carry out in-depth economic cooperation and reach a corresponding consensus.
The first reason is that cooperation between China and the United States can benefit all mankind. The world economy has been greatly affected by the global outbreak in the first three years, so there is a need for a rapid recovery of the global economy, otherwise there will be a lot of chain reactions afterwards.
It is precisely because China sees that in-depth cooperation with the United States can help the recovery of the global economy, that is, it can benefit all mankind, so it chooses to cooperate in-depth with the United States.
The second reason is to form a closer economic community between the United States and China.
Many people do not want war, and many people also want the United States to be at peace. What can really keep Americans in peace is to connect their economy with us. The increasing dependence of the United States on our economy also shows that the top level of the United States is increasingly trusting us in terms of economy.
The third reason is that cooperation with the United States can also allow China to develop rapidly.
Recently, many people know that China has been seeking opportunities for peaceful development in recent decades, because only with peaceful development can we surpass other countries more quickly. Internationally, at present, only the United States and a very small number of Western countries will target and sanction China again and again.
Therefore, if we can cooperate deeply with the United States, and if the United States is willing to cooperate deeply, it means that we will have more and more time for peaceful development. This time is extremely valuable to us, because it allows us to take us to another level by leaps and bounds.
It can be said that no matter from our own reasons or from the perspective of all mankind, we should cooperate with the United States accordingly.
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