2017年CRI Report says complementary economies drive growing China-U.S. ties

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The 6th CF40-PIIE Economists¹ Symposium²

A joint³ report from the China Finance 40 Forum⁴ (CF40) and Peterson Institute for International Economics (PIIE) said economic complementarity has led to win-win results in Sino-U.S. bilateral⁵ ties.

It says structural⁶ complementarity is the key behind the growing bilateral trade relations, as China has comparative advantages in labor-intensive industries and the United States has comparative advantages in capital-intensive industries and high-yield agriculture.

At the 6th CF40-PIIE Economists Symposium of officials and scholars in Beijing, PIIE President Adam Posen said: "As the U.S. largest import origin, China contributed 46 percent of U.S. total deficit⁷ in trade of goods in 2016... but China is in a state of economic rebalancing".

Meanwhile, Guan Tao, a senior fellow at the CF40, said the new U.S. government is concerned about the bilateral deficit, but a Sino-U.S. trade war would be a lose-lose scenario⁸.

The Beijing-based CF40 is a top non-government and nonprofit think tank dedicated⁹ to policy research on economics and finance. The Washington-based PIIE is a private, nonpartisan and nonprofit institution renowned¹⁰ for international economic policy research.

For more on this, our Bizz Host Zhao Yang talked with Liu Zhiqin, Senior Fellow at Chongyang Institute for Financial Studies, Renmin University of China; and Winston Wong, Managing Director of Shipston Group Limited.