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China's Vice-Premier Wang Yang said, "Although China has run a trade deficit with several countries in the region, we do not engage in trade protection, and we are willing to further expand our imports from these economies to meet diverse needs."
China's State Council said on Sunday that the country would continue to suspend additional tariffs on US vehicles and auto parts after March 31, in a goodwill gesture following a US decision to delay tariff hikes on Chinese imports.
China will look to Brazil and to a lesser extent Argentina, in addition to increased domestic production, to replace American soybeans, said Wendong Zhang, a professor at Iowa State University. He said that China would end up paying more for soybeans from Brazil.
China's 40 years of reform and opening-up are an example of maximizing absolute and comparative advantages by enlarging the market and enhancing the division of labor. China achieved speedy development by boosting the flow of production factors, lowering transaction costs, creating a unified domestic market and opening up to engage in international division of labor and exchanges. In the past four decades, China's trade in goods has soared from .6 billion to trillion, and now ranks first in the world.
China's Minister of Commerce Zhong Shan (C), Vice-Minister of Commerce and Deputy China International Trade Representative Wang Shouwen (R) and Vice-Minister of Commerce Qian Keming attend a press conference on China's domestic market and all-round opening-up for the second session of the 13th National People's Congress (NPC) in Beijing, March 9, 2019. [Photo/Xinhua]
来源：资阳报