China US

A seminar on the situation five years after the US-launched trade war against China and the evolution of China-US relations, sponsored by the Global Times, was held in Beijing on Saturday, as the US action that distorted and destroyed the international trading system and rules has had a profound and negative impact on the US' as well as the world economy over the past five years.

Experts and scholars who participated in the seminar, expressed their views and comments on the current situation and characteristics of China-US relations, including economic and trade issues, from different perspectives.

They said that from the Trump to the Biden administration, the US economic and trade policy toward China has become a political tool to contain China's rise and provoke confrontation. 

The facts showed that the trade war against China has not only failed to achieve the US' fantasy of crushing China and driving the manufacturing in-dustry back to its homeland, but has also brought great harm to its economy and livelihood as well as the international trade system.

Over the past five years, China-US economic and trade relations have contin-ued to show resilience, and US' attempts to promote "decoupling" is not in the interest of either party.

A number of experts also said that China's foreign trade structure has become more diversified, with rapid growth in trade with ASEAN members, countries along the China-proposed Belt and Road Initiative as well as other members of the Regional Comprehensive Economic Partnership Agreement. This change makes the country's foreign trade more resilient in the face of US crackdowns.

The seminar also released a report on the situation five years after the US-launched trade war with China and the evolution of China-US relations. The report, written by experts and scholars organized by the Global Times, consists of five main chapters - the damage of the trade war to China's economy and trade, the damage to the international trade system and rules, the damage to international law, the suppression of scientific and technological development, and the impact on globalization.

The report is accompanied by two important pieces, including an open letter from Chinese scholars to the US White House titled "It's Time to End This Trade War That Hurts People and Hurts Themselves" and a survey report re-leased by the Global Times Research Center on public attitudes toward the trade war.