No compulsive transactions in Sino-US trade - Bo Xilai
Source: Fibre2fashion, News Desk - China Date: 2007-03-20
At yesterday's press conference, Minister of Commerce Bo Xilai and Governor of People's Bank of China Zhou Xiaochuan made appearance at the same time, attracting a large number of media.
Regarding the issue of more than US $140 billion of China's trade surplus with the US, Bo’s reply left a deep impression upon the reporters at the scene.
Minister of Commerce Bo Xilai said, in Sino-US trade, surplus is in China, while profits are in the US. It is precisely because of the mutual benefit, China-U.S. trade could be a pleasant journey, which has been rolling bigger and bigger, becoming better and better. If there were no intrinsic rationality, businessmen from China and the US would not move forward.
The trade relation between China and the US is like this, the buyer side is willing to buy, while the selling side is willing to sell, so there are no compulsive transactions.
He said, US business is full of wisdom; it is now the world's largest businesses after having expanded in past 200 years. It is also the first big winner.
He said, “We have no reason to doubt the IQ of American business. They will not continue the trade with China, if the business is profitless.”
