Wang Youyou: Hello Vice Premier Liu, I’m Wang Youyou from Phoenix TV. Now, a lot of people are talking about economy decoupling between China and the US.What do you think about this issue?
And China and the United States have signed the phase one trade agreement. What can it do to mitigate the risk of economic decoupling between China and the US.
Liu He: It is true that some non-economic voices are now advocating the decoupling of the two powers. But it can’t happen in reality. On the one hand, a global industrial chain has been formed. China and the United States are interdependent. On the other hand, science and technology are constantly advancing and penetrating into various fields. Cooperation is very important. At the same time, the market is highly unified. Under this environment, talking about decoupling is unrealistic. The phase one agreement has effectively stopped this trend. Because China will import a lot. At the same time, market access and protection of intellectual property will lead to more mutual investments. So the trend of investing and trade liberalization will be further strengthened. Establishing such a model between China and the United States, would serve as an anchor to the world economy, and have a positive impact on globalisation of the whole world economy. Therefore, it will play a positive role in promoting (globalisation)in Europe, Asia, Africa, Latin America. The spillover effect of the agreement is very strong, the key is implementation.
Miles exposed 3 points of CCP’s spillover effect:
1.No matter what happened in Hong Kong, the US cannot cancel the Free Trade Zone status of Hong Kong. Otherwise, this agreement will be invalid.
2. Cannot have any legislation in the US to investigate any assets in US of high-ranking CCP’s officials.
3. Remove CCP from currency manipulator list immediately .