The 6th CF40-PIIE Economists Symposium
A joint report from the China Finance 40 Forum (CF40) and Peterson Institute for International Economics (PIIE) said economic complementarity has led to win-win results in Sino-U.S. bilateral ties.
It says structural complementarity is the key behind the growing bilateral trade relations, as China has comparative advantages in labor-intensive industries and the United States has comparative advantages in capital-intensive industries and high-yield agriculture.
At the 6th CF40-PIIE Economists Symposium of officials and scholars in Beijing, PIIE President Adam Posen said: "As the U.S. largest import origin, China contributed 46 percent of U.S. total deficit in trade of goods in 2016... but China is in a state of economic rebalancing".
Meanwhile, Guan Tao, a senior fellow at the CF40, said the new U.S. government is concerned about the bilateral deficit, but a Sino-U.S. trade war would be a lose-lose scenario.
The Beijing-based CF40 is a top non-government and nonprofit think tank dedicated to policy research on economics and finance. The Washington-based PIIE is a private, nonpartisan and nonprofit institution renowned for international economic policy research.
For more on this, our Bizz Host Zhao Yang talked with Liu Zhiqin, Senior Fellow at Chongyang Institute for Financial Studies, Renmin University of China; and Winston Wong, Managing Director of Shipston Group Limited.