Positive China-U.S. trade, economic relations good news to global economic stability: expert

By: XinhuaFrom:English Edition of Xinhua | Updated: 2019-Jul-3 16:50
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ADDIS ABABA, July 2 (Xinhua) -- Positive trade and economic relations between China and the United States would have an affirmative advantage to global economic stability, an Ethiopian scholar said on Tuesday.

"Constructive trade and economic relations between the U.S. and China, as the two largest global economies, will have certainly an affirmative advantage to the global economy," Costantinos Bt. Costantinos, who served as an economic advisor to the African Union (AU) and the UN Economic Commission for Africa (ECA), told Xinhua on Tuesday.

The latest positive developments between China and the U.S. to restart economic and trade consultations "is good news to the global trade in general, and investors who were concerned by recent tariff standoff," he said.

China and the United States agreed on the sidelines of the G20 summit in Osaka, Japan, to restart economic and trade consultations on the basis of equality and mutual respect, after trade frictions since last year.

Costantinos, also professor of public policy at the Addis Ababa University in Ethiopia, also emphasized the vital imperative to sustain the multilateralism platform as a positive impetus to global economic stability.

The scholar also stressed the need to rule out actions and policies that bear the notion of protectionism, saying it "will restrain international trade in favor of protecting local businesses and jobs from foreign competition."