Cui made the remarks at the panel discussion “Forty Years of U.S.-China Relations” hosted by the Center for Strategic and International Studies (CSIS), a policy research organization based in Washington, D.C.
The China-U.S. trade imbalance cannot and will not be sustained in the long run, and trade teams of the two nations are negotiating it, Cui said.
However, Cui said it would be one-sided and too simple to see a deficit as a loss and a surplus as a gain, rather, the Chinese and U.S. sides are better advised to take into consideration such issues as industrial chains, value chains and international division of labor.
The ongoing trade consultations of the two nations cannot succeed when only one side’s concerns are addressed, he said.
Negotiations based on mutual trust and a balanced approach can achieve their goals, Cui said, adding that serious commitments by both sides are required to reach agreements without the need for any deadlines.
The event, bringing together over 200 people from politics, business, academia and media, was held to discuss “the twists and turns in the relationship over the last four decades and the challenges that lay ahead,” the CSIS said on its website.
China and the United States will mark the 40th anniversary of the establishment of their diplomatic relations next year.