• Chinese Vice President Wang Qishan. Photo by Daily Express
    Chinese Vice President Wang Qishan. Photo by Daily Express

Chinese Vice president warned that the US endangered global trade and economy by its' unilateralism policy.

Iran Press/ Asia: Chinese Vice president "Wang Qishan" speaking on Thursday called for bilateral talks to resolve the China-US trade frictions, and warned about the dangers of surging populism and unilateralism, Global Times newspaper reported.

"China will stay calm and sober-minded and embrace greater openness. We are ready to discuss and work out solutions on trade acceptable to both sides," Wang said.

Chinese Vice President Wang Qishan 

Today's world faces many problems that require close cooperation between China and the US, Chinese Vice president said, stressing that both sides will gain from working together and lose from confrontation.

Wang denounced trade unilateralism and espoused the importance of settling any disputes through a rules-based system.

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A research fellow at the Chinese Academy of Social Sciences "Liu Weidong", told the Global Times that the two sides should compromise to end the trade war while not damaging either side's interests.

"Trump's trade war against China is not only aimed at reducing the trade deficit. With the trade war at the center, he is exerting overall pressure on China," Liu said. 

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As to the "America First" policy that Trump is promoting in the name of populism and unilateralism, Liu said it is against the trend toward globalization and harmful to China-US ties, which will not contribute to the US' long-term interests.  

The Trump administration has slapped tariffs this year on roughly half of the products that China sells to the United States annually.

President Donald Trump has threatened to expand the tariffs to cover all US imports from China. Beijing has responded with tariffs on American goods worth more than $110 billion.

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Nov 08, 2018 16:16 Asia/Tehran
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