China seeks help to fight US trade protectionism

New Delhi: China on Wednesday reached out to India to join hands in fighting protectionism, amid its ongoing trade war with the US and visits by senior American officials to Beijing that have not helped ease the trade friction.

China and India, two of the largest emerging markets, are both in the vital stage of deepening reforms and developing economy, and both need a stable external environment, senior Chinese officials told ET, as pressure continues to mount on Beijing due to the spat with Washington.

The neighbours share common interests in defending the multilateral trading system and free trade, officials said, adding that President Xi Jinping and PM Narendra Modi spoke with one voice on this at the World Economic Forum in Davos.

Last Friday, during the Indo-Russian annual summit, New Delhi and Moscow also rued trade protectionism. “... the sides stand for strengthening of open, inclusive, transparent, nondiscriminatory and rules-based multilateral trade system and prevention of fragmentation of international trade relations and trade protectionism in all forms,” read the joint statement.

In a statement released here on Wednesday in the backdrop of US secretary of state Mike Pompeo’s visit to Beijing, the Chinese Embassy spokesperson said: “Practicing unilateral trade protectionism in the name of ‘national security’ and ‘fair trade’ will not only affect China’s economic development, but also undermine the external environment of India and hinder India’s booming economy… This year, the two sides jointly participated in publishing the ‘Qingdao Declaration’ and the 10th BRICS Summit Johannesburg Declaration, sending a clear message against protectionism. Facing unilateralism and bullying, China and India have more reasons to join efforts to build a more just and reasonable international order.”

ET has learnt that during Pompeo’s visit this Monday, the Chinese side stressed that Sino-US relations was standing now at a critical juncture and that only cooperation would lead to a winwin outcome.