Exclusive | China, US decoupling ‘unthinkable’ says former commerce minister
- Chen Deming, who headed the Ministry of Commerce in Beijing, hit back at the idea the ongoing trade war could force the world’s two largest economies to disengage
- His speech in New York came five days before US tariffs on US$156 billion of Chinese products are set to come into force
China’s former commerce minister has issued a strong rebuff against “unthinkable” suggestions that the world’s two largest economies could disengage from each other due to the ongoing tensions caused by the trade war, with Chen Deming saying: “To hell with decoupling!”
“Is globalisation falling into ‘hemispherisation’ or is the whole process halted? Whoever insists on decoupling …. will fall behind and even be phased out in the advancement of science and technology. To hell with decoupling!” said Chen, who headed the Ministry of Commerce in Beijing from 2007 to 2013.
His speech underscored Beijing’s concerns about losing its connection with the US as the costly trade war, launched by US President Donald Trump in July 2018, chips away at a bilateral relationship also frayed by a rising rivalry over technology, geopolitics and ideology.
Whoever insists on decoupling …. will fall behind and even be phased out in the advancement of science and technology. To hell with decoupling
While Chen believes a complete US-China disengagement is unthinkable, some analysts speaking at China Conference USA: Competition or Cooperation? on Tuesday, the first event hosted by the South China Morning Post in New York, said a “decoupling” was already under way.
