China is ready to speak to resolve the US trade war, Vice President Wang Qishan said

China is ready to engage in a dialogue with the United States to resolve their long-running trade war, Vice President Wang Qishan told a new Singapore economic forum organized by US billionaire Michael Bloomberg.

Wang, reputed to be a "firefighter" and one of President Xi Jinping's most trusted allies, has been repressed against Washington's trade policy, "America first," in a keynote speech of nearly 20 minutes pronounced Tuesday at the Bloomberg New Economy Forum, without referencing US President Donald Trump by name.

At the same time, he defended a vision of globalization that echoed Xi a day earlier in Shanghai at a government-sponsored import fair, as part of a new Beijing attempt to dispel skepticism. world in its determination to adopt economic reforms.

"China and the United States both want to expand their cooperation on the economy and trade," he told the ballroom of the luxurious Capella Resort on Sentosa Island. Singapore.

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"The Chinese side is ready to have discussions with the United States on issues of common interest in order to push for a mutually acceptable proposal to solve their economic and trade problems."

He added that China and the United States should cooperate closely to solve the problems of the world and that the globalization of the economy would progress despite the twists and turns.

"Negativity and anger are not the way to solve the problems that have emerged from globalization. Barriers and disputes will not solve our own problems either. instead, they will only exacerbate the turbulence of the global market, "Wang said.

He added that China should remain "calm and sober", citing the history of oppression of the country by the "imperialist powers".

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"Understanding the history of [China] In the last 70 years, one must go back to the year 1840, when China was the victim of intimidation and oppression by the imperialist powers, "he said.

"Since then, the inflexible Chinese people have been fighting for once again to stand up and achieve prosperity and strength."

His remarks at the inaugural forum – which brought together 400 business leaders to compete with the annual World Economic Forum in Davos, Switzerland – preceded a proposal for a meeting between Trump and Xi at the G20 summit in Argentina later this month.

According to analysts, a meeting between the two heads of state could mark a turning point in the trade dispute that has lasted for several months between the two largest economies in the world – a relief that companies and markets want to see.

The announcement also follows Xi's promises on Monday at the China International Import Expo in Shanghai, where the Chinese leader has pledged to purchase $ 40 billion worth of goods and services over the next 15 years.

Not to mention the name of US President Donald Trump, nor the intensification of their trade, Xi has promised to defend free trade, a commitment whose critics say the world has grown bored to hear without substantive action.

At the two-day meeting in Singapore, Wang asked China to amplify its promises that it would improve the unbalanced access of foreign companies to markets, a long-standing complaint from the United States and other countries, according to Wang. analysts.

"Two Chinese leaders who convey these messages at the national and international levels are meant to be a clear signal to the world," said Wei Zongyou, professor of international studies at Shanghai Fudan University. "China wants to show its determination to open its doors and welcome foreign companies to the country, to work with others to promote the development of global free trade."

Steve Tsang, director of the SOAS China Institute at the University of London, said it was expected that Mr. Wang will echo Mr. Xi to stress that China is "open to business and open to the world without giving details or a timetable. "

"This would be part of a Chinese effort to seize the initiative to project China as a sponsor of globalization while Trump was an enemy," he said.

Wang arrived in Singapore Monday afternoon accompanied by a Chinese delegation of about 50 representatives of the government and the business world. That evening, he attended a private dinner hosted by Bloomberg alongside major American names, including former Secretary of State Henry Kissinger, former Treasury Secretary Henry Paulson, the 39; former Federal Reserve Chairman Janet Yellen and former Trump economic advisor Gary Cohn. .

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