China is steadfast practitioner of 'mutually beneficial' principle

National flags of China and the United States. [Photo/Xinhua]

By Zhang Wan

The China-U.S.high-level trade talks held in Geneva undoubtedly injected a strong dose of confidence into the global economy. Beyond substantive outcomes such as the removal of 91 percentof imposed tariffs, the talks sent a clear signal to the international community: China remains a builder of world peace, a contributor to global development, and a defender of the international order, steadfastly sticking to the principle of mutual benefit and win-win. The contrasting approaches of the two nations – the unilateral "tariff stick" versus multilateral, rational dialogue – highlighted China's consistent commitment to resolving disputes through open cooperation with the principle of mutual benefit and win-win. China has demonstrated itself not only as a guardian of globalization but also as a trustworthy partner in the international community.

Foundation of cooperation: The essence of China-U.S. economic ties

The China-U.S.economic relationship is inherently mutually beneficial with complementary nature, not a zero-sum game. This truth has been validated repeatedly over 46 years of diplomatic ties, during which bilateral trade surged from less than 2.5 billion in 1979 to nearly 688.3 billion in 2024 – a 275-fold increase. The two economies have become deeply interdependent: China wasthe top export destination for U.S.agricultural production 2023, absorbing nearly one-fifth of such exports, while Chinese machinery, electronics, and textiles provide American consumers with high-quality, affordable options.

Despite Washington's imposition of unilateral tariffs and other restrictions these years, bilateral trade between China and the U.S.continues to exhibit strong complementarity. In 2024, China's top five export categories such as electrical machinery accounted for 57.2 percent of China's exports to the U.S., while China's top five import categories from the U.S., such as mineral fuels, machinery and industrial components made up 52.8 percent of China's total imports from the U.S.

Path to mutual benefit: Setting differences through dialogue

The Joint Statement on China-U.S. Economic and Trade Meeting in Geneva emphasized that both governments recognize the critical importance of bilateral economic relations to their domestic economies and the global economy, as well as the necessity of sustaining a balanced, long-term, and mutually beneficial partnership. The agreement reflects this shared understanding. The U.S.decision to suspend 24 percentof additional tariffs within 90 days and roll back certain new tariffs will directly reduce procurement costs for American businesses and ease inflationary pressures.

In parallel, China will adjust retaliatory tariffs and expand import quotas for U.S.agricultural products and clean energy equipment. Such "two-way easing" has already triggered positive ripple effects across financial markets. More importantly, the newly established consultation mechanism could elevate bilateral relations from "crisis management" to "innovative collaboration." History and reality alike reaffirm that the complementary strengths of both nations – in natural resources, human capital, markets, technology, and innovation – make win-win cooperation not only possible but imperative.

The Geneva talks solidified a mechanism to continue discussions about economic and trade relations, combining quarterly working-group meetings with annual ministerial dialogues, to address critical issues ranging from tariff adjustments and market access to digital economy rules. This represents a pragmatic approach to managing tensions and differences amid strategic rivalry. If maintained with flexibility, the mechanism could offer a template for transcending the "Thucydides's Trap" – proving that competition need not escalate into confrontation, and cooperation need not require compromising core interests.

An aerial drone photo shows an international container terminal of Zhujiaqiao area at Wuhu Port in Wuhu City, Anhui Province, China, May 26, 2024. [Photo/Xinhua]

Future anchors: China's openness as a global stabilizer

China's adherence to mutual benefit extends beyond bilateral ties to its robust support for multilateralism. In 2024, despite external volatilities, China's foreign trade surpassed 43 trillion yuan($6 trillion), marking 5 percentgrowth and securing its position as the world's top goods trader for an eighth consecutive year. This achievement was secured amid increasing external instabilities and uncertainties, demonstrating the strong resilience of China's economy and its pivotal role in the global supply chain.

Today, China is a primary trading partner for over 150 nations and regions, its trade with Belt and Road countries exceeding 50 percentof its total. As Chinese President Xi Jinping emphasized during the meeting with global business leaders earlier this year: "Multilateralism is the only choice for addressing global challenges, and economic globalization is an unstoppable trend of history. China upholds true multilateralism, promotes universally beneficial and inclusive economic globalization, actively participates in global economic governance, and is committed to building an open world economy."

Amid global uncertainties, China stands as a stabilizer. When the OECD lowered its 2025 global growth forecast to 3.1 percent, the IMF raised China's projected growth to 4.6percent – a testament to international confidence in China's policies.

From tariff wars to Geneva's dialogue, China's strategic clarity – rooted in 5,000 years of "harmony and unity" philosophy – offers an antidote to outdated zero-sum mentalities. As some cling to 19th-century mercantilism, China is redefining 21st-century cooperation through win-win principles. The world can trust that, regardless of shifting winds, China will remain a partner that bridges divides, shares prosperity, and pursues collective advancement. As in China's choices lies not only its own future, but also hope for humanity's shared destiny.

Zhang Wan is a current affairs commentator.