Experts say that the trade cooperation between the United States and China possesses room in many fields.
As globalization was challenged by rising protectionist forces, the U.S. President Donald Trump raised the“Put America First” policy, which may bring competition between the U.S. and China in specialized markets.
"What kind of manufacturing jobs will go back to America, as Trump stressed? I think those positions will not be labor-intensive, but high-end technology products, or capital intensive products," said Wang Xiaosong, research fellow of National Academy of Development and Strategy of Renmin University.
Wang said that some of the sectors such as machinery equipment and transport tools may bring out competition with China as this is the direction that Chinese companies are transforming. These sectors may see fierce competition between the U.S.and China.
Experts said that China and the U.S.have extensive and practical cooperative space for agriculture, manufacturing, services, and infrastructure construction fields.
"As the two largest economies in the globalization process, U.S. and China must have a lot of cooperation opportunities. The cooperation does not mean industries transferring one-way only. As China sees rising costs for environment and natural resources, certain sectors may choose to move to America. While China's growing middle-class means lifting consumption, related businesses may move to China. So this is going to be a dynamic process," said Feng Junxin, associate professor of economy of Renmin University.
Experts believed that there are still opportunities for the U.S. and China to generate more benefits for businesses and consumers on both sides.
Credits : CCTV