Chinese Foreign Minister Wang Yi gave a wide-ranging interview to Xinhua News Service on U.S.-China relations, yesterday. From the outset, he refuted Secretary of State Mike Pompeo’s claim in his July 23 Nixon Library speech that the past 40 years in U.S.-China relations have been a failure. “The assertion that U.S. policy of engagement with China has failed is just a rehash of the Cold War mentality. It turns a blind eye to all that has been achieved in China-U.S. relations over the past decades, shows ignorance of the historical process and lack of respect for the Chinese and American peoples. This is a political virus which is understandably questioned and rebuked by people in the United States and the international community….
“During President Nixon’s visit to China in 1972, Chinese Premier Zhou Enlai said that China and the U.S. needed to be clear about our differences and find common ground, so as to reach a new starting point in bilateral ties. President Nixon responded that our two countries have great differences, and what brings us together is that we have common interests which transcend those differences. The Shanghai Communiqué issued by the two countries encapsulated their consensus to respect each other and seek common ground while setting aside differences….
“Both countries have benefited immensely from the relationship....
“China and the U.S. now account for over one-third of global economic output and over 50% of global growth. Bilateral trade volume has increased by over 250 times since the early days of diplomatic ties and takes up one-fifth of the global total. Two-way investment has jumped from almost zero to nearly $240 billion, and annual two-way visits by the two peoples have reached five million. The two countries shoulder important responsibilities for almost all global issues concerning world peace and development. No one can deny these facts….
“Statistics show that China-U.S. business ties support 2.6 million American jobs. Trade with China helps each American family save $850 every year. Over 70,000 American businesses have made investments in China with a total sales volume of $700 billion. Among them, 97% are making a profit. Even with the trade friction and COVID-19, the vast majority of American companies in China still want to stay and are doubling down on investment in China.
