Market surge shows trade talks meet demand

Source:Global Times Published: 2019/2/26 21:55:33

The Chinese stock market surged over 5 percent Monday on three major bourses, with trading volumes on the Shanghai and Shenzhen bourses surpassing 1 trillion yuan ($150 billion) - a record three-year high. Despite market volatility on Tuesday, the growth trend is not disrupted. Both the exchange rate for the yuan and the US stock market surged. It was widely believed to be the markets' enthusiastic response to the substantial progress in China-US trade talks.

The market reaction in China and the US proved that both sides believe the eventual result of talks will be beneficial to their own country. Otherwise there would not have been a simultaneous optimistic reaction. 

The market reaction also showcased that peaceful development is the common aspiration of the two countries and the whole world. Confrontation doesn't attend to the interests of China or the US and it will harm their economic development. Solving problems via cooperation is what their peoples want. 

Wise and pragmatic, people understand China-US cooperation will result in mutual victory but conflicts only lead to mutual defeat. The optimistic response of the market is applause for the trade talks and the efforts of negotiators. 

As the negotiations haven't ended, uncertainty will remain until the last moment when a final deal is reached. It is a major test for not only negotiators but also governments' rationality and wisdom. Negotiators will have further discussions about the text of the agreement. In this process, the talks will smoothly move forward if both sides maintain calm and mutual respect. 

The final agreement will surely be an objective reflection of the strength and interests of China and the US, as well as an expression of the public and market will of both sides.

We oppose some people in China who claim that China has lost. At the same time, we also object to some Americans who claim that the US has lost to promote the idea that China has won over a cowardly US.

Such claims are not in line with the facts and could undermine the public opinion environment for further talks. If false is made true, which could possibly mislead the public, the extra cost for talks will rise. 

Criticizing for criticism's sake is becoming normal in the US as partisan contention turns fiercer. In this special time, Chinese public opinion should keep calm and provide no excuse for the political struggle in Washington. No matter whether American people think their country has won or lost, we must seek truth from facts.

Some people may feel insipid about a win-win agreement. However, we should be thankful that a lose-lose end could be avoided. 

Public opinion in China should be conscious about not forging fake news or following extreme rhetoric but supporting the winning conclusion to the trade talks.

We cannot expect everyone to be rational but we advocate believing in mainstream Chinese and US societies' judgment.

Newspaper headline: Market shows trade talks meet demand

Posted in: EDITORIAL

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