China’s newly appointed Commerce Minister Zhong Shan looks forward to meeting Commerce Secretary Wilbur Ross. Zhong referred to Ross as his “excellent” U.S. counterpart.
Zhong, 61, has been appointed as head of the Commerce Ministry on Feb. 24. He previously worked as a ministerial-level international trade representative and vice commerce minister.
He had also served at Zhejiang Province exporting powerhouse as deputy governor. He worked under Chinese President Xi Jinping who was the party chief for the region at the time.
Ross, 79, is a billionaire businessman. He called China the most protectionist of the world’s major economies.
Zhong and Ross share the mission of increasing cooperation and managing differences between China and the U.S.
“Ross used to be an excellent entrepreneur, a good negotiator and, I can say, he’s very excellent,” Zhong said in his first press conference as commerce minister, held on the sidelines of the annual legislative session of the National People’s Congress.
“I’m willing to deal with excellent people because excellent people are good at thinking strategically for the long term,” he added.
It would be a challenge for Zhong and Ross to manage differences between the world’s largest economies as U.S. President Donald Trump made accusations of unjust trade practices to China. Trump has also warned of instituting penal measures.
A plan of action will be announced “as soon as we have a proper case,” said Ross.
According to Zhong, a trade war between China and the U.S. would damage both countries’ economies. It would not be beneficial to either country as well because of their “intertwined” economic relations.
Zhong believes that China and the U.S. will make the “correct assessment” on bilateral economic ties now that “everybody is watching and waiting.”
“Many American and western friends think that China can’t live without the U.S., and they’re half right,” said the Chinese Commerce Minister.
“Similarly, the U.S. also can’t live without China,” he added, mentioning Boeing Co airplanes, soybeans and automobiles as U.S. exports to China.
In the past 10 years, American exports to China have grown by an average of 11 percent. China, on the other hand, has 6.6 percent growth in exports to the U.S. in the same period.
The world will be watching for the changes Commerce Minister Zhong Shan and Wilbur Ross’s meeting would bring to the world’s largest economies.