When asked about tariffs, Tracy said that in 2016, China imposed a high tariff of 9.9% on 16% of U.S. goods. Liu Xin said that lowering tariffs was a good idea. In this way, American consumers can buy Chinese goods at cheaper prices, and China can also buy American goods at cheaper prices. But as you mentioned earlier, we are now a rule-driven world. If one party wants to change the rules, it must reach the consensus of the relevant parties. The United States can not treat China differently. Reducing tariffs requires a multilateral joint decision. We are currently implementing the standards of 20 years ago. On tariff issues, we really need to change the rules.
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Cuixi asked Liu Xin how to define "state capitalism". Liu Xin explained that China is a market economy with Chinese characteristics (socialism), allowing the market to play a leading role in the economy. State-owned enterprises play an important role in the economy, but their role is decreasing. The state does not control everything in the economy. Look at a set of data: 80% of China's employment is provided by private enterprises; 80% of China's exports are provided by private enterprises; 65% of China's innovation is completed by private enterprises; some leading companies in China, such as Internet companies, 5G technology-related companies are private enterprises. Our economic system is mixed/pluralistic, active and open.
The debate between the two sides aroused widespread concern. From the feedback of netizens on social networking platform, many netizens think that Cuixi has changed her past style and never "got angry", while Liu Xin is strict, wise and peaceful, and has a smooth answer.
At 8:43:58 Beijing time, the trans-oceanic dialogue ended. In his concluding remarks, Liu Xin welcomed Trish to visit China.
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