Susie Gharib, senior journalist with Fortune Magazine: Premier Li, thank you very much for your very refreshing speech and your encouraging words. Many American business leaders tell me that they are very worried about the current backlash to globalization and global trade that's building here in the U.S. And I am sure you've heard that the candidates who are running for president here in the States have very harsh words about the loss of American jobs and unfair global trade agreements. Given that China's economic growth really depends on global trade and you said that there is a mutual interest between our country and China, how concerned are you about this developing trend? What would you say to the presidential candidates in terms of advice, and also to the American public to reassure them that they shouldn't worry about this?
Premier Li: I am coming to New York to attend high-level UN events. Before I came here, some American friends of mine said to me that they don't think I am coming to the city at the right time, since the U.S. presidential election is at a dead heat. This is an internal affair in the United States. So for me, the things I can say about this topic are very limited. But I recall that in the 1980s, during my visit to the United States, I visited the headquarters of the two presidential campaigns. At both places, I was asked whether I liked the presidential candidates. To both of them I said that no matter who gets elected, I have confidence in the continued growth of China-U.S. relations.(Applause)
Considering my current capacity, I can only repeat what I said years ago. That is, no matter who gets elected in the U.S. presidential election, I believe that China-U.S. ties will continue to grow in a positive direction.(Laughter and applause)
Tomorrow I will give a statement at the General Debate of the UN General Assembly. In my statement, I will definitely say something about globalization and trade liberalization and investment facilitation. But don't misread it as having anything to do with the U.S. presidential election.(Laughter and applause)
Globalization may have some adverse impact on certain sectors and groups. But I believe that to address these downsides, we must rely on continued globalization, trade liberalization and investment facilitation, just as one must not give up eating for fear of choking on food, as a Chinese saying goes. Following on the heels of the United Kingdom, the United States has been the biggest beneficiary of globalization and trade liberalization, and China is also one of the beneficiaries. So China wants to work with all members of the international community to continue to advance trade liberalization and advance globalization as appropriate. In the meantime, we should also pay high attention to the calls of relevant groups and see to it that their concerns will be properly addressed. But all in all, I believe that the world will continue to move forward.
Robert Hormats, former under secretary of State: Premier Li, first, let me thank you for your very thoughtful and comprehensive speech. You've honored us with your leadership and your vision. My question is about global trade. As you correctly pointed out in your speech global trade growth has been sluggish over the last several years. You also pointed out how interdependent our two countries and many others are. One of our concerns is that in many countries throughout the world, we see increased economic nationalism. We see huge domestic pressures for localization of production. We see people who are against globalization rather than improving the global trading system. Those pressures occur in the United States, China, and many other countries. So my question is what can China and the U.S. together reverse this deterioration in support for the global trading system, to make sure that it thrives and becomes more open? And in particular, how can the United States and China seize the opportunities brought by the bilateral investment treaty negotiation to take the lead together in strengthening international trading rules and create more opportunities for prosperity and growth?
Premier Li: I believe China and the United States should send a common message to the international community. Both of our two countries are strong supporters of the existing global trading regime. And we both believe that we need to advance trade liberalization and investment facilitation under the WTO framework. So China and the U.S. should work together with all other countries to send out a strong and common message. And I believe this will help prevent the anti-globalization trend from further evolving and help prevent the trade barriers and a beggar-thy-neighbor approach from emerging, so that they will not stand in the way of global economic recovery.
Secondly, I believe our two countries need to further open up to each other in both trade and mutual investment. China is sincere in further opening up its market. We have completed the quarantine procedures for the import of U.S. beef. And we will soon have imports of beef from the United States. China is a large producer of agricultural products and animal husbandry. The United States also has very good beef. Why should we deny Chinese customers more choices? (Applause) I'm sure there would be louder applause if I say this in the U.S. Midwest. (Laughter and applause)
As I'm in New York, I would also like to mention that we have decided to designate a Chinese bank as a RMB clearing bank in New York. We also welcome banks in New York that meet the eligibility requirements to apply for the setting up of RMB clearing banks. I'm sure that will enable smoother cross-border settlement between us.
Now China and the United States are engaged in the BIT negotiation. The negotiation in itself has sent out a positive message to the business communities of both countries. China has exerted strong effort in this respect, and in just two years, has put forward revised offers three times. Now, the two countries are engaged in the 29th round of negotiation. We need the U.S. side to meet us halfway. I believe that as long as both sides take a pragmatic and flexible approach, we will be able to arrive at a high-standard and mutually beneficial BIT.
