Vice-Premier Wu Yi with US Secretary of the Treasury Henry Paulson met in September. (Image: China News Service)
Vice-Premier Wu Yi with US Secretary of the Treasury Henry Paulson met in September. (Image: China News Service)Vice-Premier Wu Yi called on the US to ease restrictions on exports of some high-tech products to China to help narrow the trade gap.
Her remarks were published in an opinion piece in the Asian Wall Street Journal days before she heads a delegation to Washington for the second round of the strategic economic dialogue.
According to Xinhua, Wu Yi urged the United States to "give full play to its comparative advantage" as a global leader in science and technology. She said that relaxing export controls would "boost the competitiveness of American companies, revise the trend of dwindling market share of American hi-tech products in China, and reduce (US) trade deficit with China."
Citing security reasons, Washington has a strict export control policy on high-tech exports to China, hindering Chinese imports from the country. In July, the US drafted a new rule that requires license requirements for additional items defined as "military end-use." The procedure for license application has also become more complicated.
Wu also cited growing trade protectionism in the US as a negative factor affecting globalization and the growth of the world economy. She said it was "irresponsible" for some parties to overstate the US trade imbalance with China or to blame China for problems that the US faces as it adjusts to economic globalization.
Describing trade relations between China and the US as "cooperative," Wu warned against attempts to "politicize" trade issues.
The China-US dialogue was initiated by the presidents of both countries in September last year. Trade protectionism as well as export control are expected to be discussed during the talks in Washington next week.
Textsource: Xinhua