China's recently issued white paper clarifying its position on the China-U.S. economic and trade consultations offers "clarity" and "certainty" on a topic of global importance, said Argentine experts.
"It contrasts with the shrill communication coming out of the United States, where threats predominate through short, aggressive messages via social networks that oftentimes contradict the official agreements reached between the parties in the negotiations," Argentine academic and political observer Gonzalo Tordini said.
Released by the Chinese government on Sunday, "the white paper arrives at an opportune moment to clear up, without intermediaries and in an extensive, well-grounded and in-depth way, China's clear position in regard to the trade dispute with the United States," said Tordini, head of educational affairs at the Latin American Center on Chinese Political and Economic Studies.
More importantly, Tordini said, the document relieves global anxiety sparked by the unilateral and protectionist policies of Washington.
"China has ratified that it won't close the doors to its economy, and will continue its policy of reform and greater opening up," Tordini noted, emphasizing that "the affirmation that China will not resort to protectionism and will continue to promote positive interactions and cooperation generates great hope among the rest of the countries."
Speaking of the aftermath of the China-U.S. trade tensions, the expert warned that "the trade dispute between the two economies, the world's two largest, will have a significant impact on global growth and development."
"If the United States continues to be uncooperative, causing a fall in trade and a lack of predictability, there will be a resulting negative impact on international investment and job creation," Tordini said, adding that "the price of tradeable goods from all countries are being affected, with the consumer being the main victim."
Argentine public policy expert Patricio Giusto, head of consulting firm Diagnostico Politico (Political Diagnosis), agreed with Tordini.
"Through the white paper, China maintains its position of continuing to deepen its economic opening up and bets on multilateralism and rules-based free trade," said Giusto.
"The global benefit of China's chosen path is evident, keeping in mind that the main beneficiary of this scheme has been the United States, with which China has the largest bilateral economic ties in history," Giusto added.
"The trade friction provoked by the United States affects both sides, as well as the rest of the world. It has increased financial volatility, affected the prices of commodities, and notably intensified global anxiety and uncertainty," Giusto said.
