Xi reiterates on bilateral cooperation in his phone call to Trump

The Dollar Business Bureau

Chinese President Xi Jinping on Monday called US President-elect Donald Trump to emphasise that cooperation was the only way forward to maintain and improve bilateral relations between the world's two largest economies, while Trump said the two leaders had established a "clear sense of mutual respect".

There have been immense speculations worldwide in the backdrop of Trump’s election campaign rhetoric, which was largely focused on anti-China sentiments, as he said he would slap 45% tariffs on imported Chinese goods and label the country a currency manipulator on the very first day in his office. He has also reiterated his disagreements on free trade agreements and the US’s mounting expenditure on global climate change; both phenomenons to which China is also playing its major part.

His elections and lambasting of China had further casted a shadow on an improving bilateral and trade relations between the US and China, at a time when the latter is facing daunting domestic challenges, including slowing economic growth.

The Chinese President, in his first state media interaction after Donald Trump won the US election a week ago, underlined that as the two of the world's largest developing and developed economies, there are many areas where the two countries could cooperate.

"The facts prove that cooperation is the only correct choice for China and the United States," China Central Television (CCTV) cited Xi as saying.

Xi's remarks were a reiteration of phrasing typically used by Beijing to describe bilateral relations.

"During the call, the leaders established a clear sense of mutual respect for one another, and President-elect Trump stated that he believes the two leaders will have one of the strongest relationships for both countries moving forward," said Trump's presidential transition office in a statement.

Congratulating Trump on his election victory, Xi envisaged to maintain close communication and meet soon.

China, on the other hand, has signaled it will promote plans for regional trade integration, while Trump's win has dashed hopes for the Trans-Pacific Partnership (TPP).