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China is ready to negotiate with the US to resolve the ongoing trade dispute as both economies stand to lose from confrontation, Vice President Wang Qishan said on Tuesday.

Key quotes (Source: Reuters)

Both China and the U.S. would love to see greater trade and economic cooperation.

The Chinese side is ready to have discussions with the U.S. on issues of mutual concern and work for a solution for trade acceptable to both sides.

The world today faces many major problems that require close cooperation between China and the United States. It is our firm belief that China and the U.S. will both gain from cooperation and lose from confrontation.

Negativity and anger are not the way to address the problems that have emerged in economic globalization, nor will barriers or disputes help solve one’s own problems, instead they would only exacerbate global market turbulence.

Trade and economic cooperation remain the anchor and propeller of a steady and healthy China-US relationship which is in essence mutually beneficial. China will stay calm and sober-minded, embrace greater openness and work for mutual benefit.