Expanding new space for China-US economic and trade cooperation

Editor's note: Pang Chaoran is a research fellow at the Chinese Academy of International Trade and Economic Cooperation, the Ministry of Commerce. This article reflects the author's opinions and not necessarily those of CGTN. It has been translated from Chinese and edited for brevity and clarity.

China and the United States are the world's two largest economies. Due to their massive economic scale, broad ties, and far-reaching influence, their industrial

The outcomes of this round of economic and trade consultations will also help inject greater certainty and stability into the global economy. As two major economies with global influence, China and the US share a relationship that extends far beyond the bilateral context. If the two sides can manage their differences through dialogue and expand shared interests through cooperation, they can preserve an open global division of labor and prevent major-power rivalry from driving the global economy toward artificial fragmentation and redundant investment. This will also enable nations to channel more resources into innovation, public welfare, and addressing common challenges facing humankind. In this sense, stable China-US economic and trade relations are a vital global public good, benefiting companies and consumers worldwide while creating more opportunities for all countries, especially developing ones, to participate in the global division of labor and share the dividends of economic development.

(Cover via VCG)