SHANGHAI (REUTERS, BLOOMBERG, XINHUA) - China is still implementing the first phase of a Sino-US trade pact, its ambassador to the United States said, but hoped the two could work together to assess the changing situation and coordinate their response to the coronavirus crisis.
The world's two biggest economies signed the tentative deal to pause a damaging tariff war in January, before the coronavirus pandemic spread, threatening a global economic depression.
"Even for the last few weeks, when we are faced with this very serious, critical situation, people are still working on the implementation of this phase one deal," Ambassador Cui Tiankai said in an interview with Eurasia Group's Ian Bremmer on broadcast show Gzero World on April 3, according to transcript posted on the Chinese embassy's website on Sunday (April 12).
Mr Cui also said that China is still buying agricultural products from the US and removing some of the restrictions on foreign companies in its domestic financial market as part of the agreement.
The ambassador agreed with Mr Bremmer that the global economic landscape has been drastically changed by Covid-19.
"So I just hope our two economic teams, if they can sit down together or just have a conference call, they can really make good assessment of the changing realities and coordinate our response to that," Mr Cui said in the interview.
Mr Cui said there is "an even greater need for closer and more effective global cooperation" as Covid-19 has disrupted the global supply chain.
"I think this is something our economists really have to look at. But I believe, you see, so far the virus has moved much faster than any shift in the supply chain. You have to recognise this," he said.
"This pandemic proves again this is a global challenge. The virus recognises no national boundaries, no difference in political system, in culture, in religion whatsoever. It attacks all of us the same way. So there is an even greater need for closer and more effective global cooperation," he added.
The coronavirus, which has infected 1.6 million people and killed 106,000 in 214 countries, is believed to have originated in China's central city of Wuhan late last year.
