Wang Huiyao, Founder & President of Center for China & Globalization(CCG), discussed the progress in China-US trade negotiations, expressing optimism about the framework agreement reached.
00:00Let's talk now to Wang Huiyao, the founder and president of the think tank, the Center for China and Globalization.
00:08Good to see you. Welcome. So a handshake, warm words.
00:12Is there a danger, though, when these negotiating teams return to their respective capitals, that this all kind of rewinds a bit?
00:21Well, I think this is a good exercise. Actually, we need that because we can see this is a quite different style than the Trump 1.0 seven, eight years ago,
00:35because this time I think they did very quick consensus reached in Geneva.
00:41And this time they reached a framework on basically based on the heads of state telephones, but also on agreement that reached in Geneva.
00:49So I think that that is a positive gesture going forward.
00:54And then, of course, up to the final approval.
00:57But I think probably that is forthcoming because I think both sides has already agreed upon and reached some kind of framework.
01:07So at least we can implement this framework pending the final going through.
01:12So but again, it's also give us a lesson that we should not really while we agree on something, we should not really adding things.
01:19We should not sanction between adding extra obstacles.
01:25We should honor our words. So that's basically, I think, the second round of talk that has taught us,
01:30because since the Geneva talks, we see some U.S. lifted, you know, new sanctions.
01:36No, actually added new sanctions, but also new measures on chips and on Huawei, on many other parts of the supply.
01:45So I think we need to really stick what we have agreed and implement that.
01:49One European commentator described the framework agreement as back to square one,
01:55which I guess is better than square zero, but is back to square one a fair assessment?
02:02Well, I think it's probably more than that, because after all, we have a second round of talk.
02:07And because you do remember the first round was taking only two days.
02:13And then that the regrae reduced the tariff, which is great.
02:16But then there's many other issues remain there.
02:19For example, I mean, just between the last months while we reached the phase one,
02:24U.S. is keep adding sanctions, keep adding pressures, keep, you know, restrict the student visas.
02:32You see so many cards being played while just the first one agreed.
02:37So this is a good reminder that, you know, if we are serious, if we are sincere in talking,
02:43let's really put aside those differences.
02:45Let's hammer on what has been agreed upon and let's really implement that.
02:50Rather than adding new troubles, new measures, new sanctions, so that really disrupt the confidence that already built in the phase one.
02:58So I hope this second round will really, let's really concentrate on solving the problems, solving the difficulties.
03:06And let's minimize the differences and seek the common ground.
03:12And let's maintain the phase one that we did in Geneva.
03:16But also let's get rid of this fentanyl of 20 percent, which I think China has done a lot.
03:20Let's really do more on that so that we can really have a much better situation for both countries and for the world.
03:28As a matter of fact, now both U.S. and China realize how indispensable we are.
03:34We are really cannot separate, cannot decouple.
03:37And the world economy really needs us.
03:38And also confidence, stock market, oil prices, you name it, all hang on this Sino-U.S. trade talks.
03:45So they have responsibility not for both countries, but for the world.
03:49Very briefly, do you think domestic political factors in both the United States and China are perhaps constraining?
03:56How far either side is willing to go towards the lasting agreements?
04:03Well, I think there's a strong will, particularly in China.
04:06I think, you know, China leadership have said many times they don't have any and they don't see any reasons to get in bad relations.
04:12There's a thousand reasons to be in good relations.
04:15But I think the key is the U.S. not view China as an adversary or rivalry or strategic rivalry, whatever you name it.
04:26But basically, you know, just peacefully accept China and rise and coexisting friendly.
04:33And of course, we have competition, but let's have an Olympic style competition.
04:36So the domestic sentiment and narrative and domestic, you know, political forces are so important.
04:46I think it's great that both leaders realize that and they are actually putting the heads of the diplomacy on top of everything.
04:54And I think the Trump team is following the leadership of Trump and China the same.
04:58So I think if both leaders are determined, things can be under control and we can really street things around.
05:04Wang Huiao, good to see you.
05:05Thank you very much indeed for coming on the program.
05:07Wang Huiao, the founder and president of the think tank, the center for China and globalization.
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