Former PBOC Governor Optimistic on U.S.-China Trade Truce

The video discusses the mutual desire to deescalate trade frictions between China and the USA, highlighting the importance of treaty balance and structured issues like intellectual property rights. It emphasizes the need for domestic reforms in China and explores the risks of relying too much on bilateral negotiations, advocating for multilateral solutions through WTO reforms. The video also addresses the shift in the Chinese economy from export-oriented strategies to new growth drivers, focusing on the transition from manufacturing to service sectors.

What is one of the key issues identified in the effort to deescalate trade frictions?

• Expanding the agricultural sector

• Reducing domestic production

• Protecting intellectual property rights

• Increasing tariffs on imports

Why is there a concern about relying too much on bilateral negotiations?

• It could undermine the multilateral system

• It might strengthen the WTO

• It may lead to increased tariffs

• It will reduce trade with Europe

What is a suggested approach to solving trade issues according to the second section?

• Focusing solely on domestic reforms

• Reducing trade with Asian countries

• Relying on multilateral mechanisms like the WTO

• Increasing bilateral trade agreements

What economic shift is China aiming for according to the final section?

• From a domestic-focused to an export-driven economy

• From a technology-based to an agricultural economy

• From an export-oriented to a service-oriented economy

• From a service-oriented to a manufacturing economy

What is one of the risks for the Chinese economy in 2019?

• Lack of domestic consumption

• Over-reliance on the service sector

• Dependence on export-oriented development

• Excessive focus on technology transfer