LUSAKA, June 26 (Xinhua) -- The world's two largest economies have been urged to ease their trade tension which has the capacity to not only affect their economies but also disrupt the multilateral trading system, an Africa-based expert has said.
A trade dispute is underway between China and the US, which has seen them imposing tariffs on each other, amid fears that it will affect global trading system.
Sindiso Ngwenya, chairman of Futram Holdings and former secretary-general of the Common Market for Eastern and Southern Africa (COMESA), said both parties may utilize the forthcoming G20 summit and ensure that a solution was found concerning the trade dispute.
"America would also be advised to go through that as well because at the end of the day, they may be thinking that it (trade dispute) is going to harm China. It will harm the US and global economy more because China is no longer putting priority on being the number one export economy. China is rebalancing the economy by looking at the domestic economy more," he told Xinhua in an interview earlier this week.
The two countries, he said, should take advantage of the dispute mechanism settlements provided by the World Trade Organization (WTO) to settle the trade dispute.
According to him, the trade dispute will hurt the economies of the two countries, and disrupt the multilateral trading system. He also advised that China provide leadership in safeguarding the multilateral trading system.
