China Business Network：

I have a question for Vice Minister Wang Shouwen. WTO Director-General Roberto Azevêdo said recently that a trade war between China and the U.S. would have a grave impact on the global economy and that the WTO was facing a most difficult moment. Some other experts believe that third countries would suffer most from the trade war. Has China assessed the effects of the trade war on both itself and the world? Faced with the current external environment, will China push ahead with further opening up? Thank you.

Wang Shouwen: 

Thank you for your question. Indeed, Director-General Azevêdo's words are very reasonable. No one will emerge a winner from a trade war. This is why China, as a responsible country and WTO member, doesn't want a trade war. China is willing to discuss and settle all disputes with the U.S. based on equality, consultation and mutual respect in line with WTO rules, which are widely agreed on. However, if China's interests are hurt and its economic security is endangered, we will take all necessary measures to defend our legitimate interests in accordance with the spirit of international law and the stipulation of China's Foreign Trade Law. Of course, we hope all the so-called disputes can be settled within the WTO framework, so that we can minimize damage to the WTO system and to the interests of all parties. But if someone is determined to wage a trade war, China will not be afraid. As I mentioned just now, China will fight to the end if a trade war is initiated, while also keeping the door to dialogue and consultation open. China is willing to openly exchange views with the U.S. on handling differences within the WTO or bilateral framework for mutual benefit and win-win results. Thank you.

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