Global experts and scholars agreed on Tuesday during a high-profile seminar that the United States’ approach to addressing the trade deficit issue through a trade war has proven unworkable. Instead, they called for China and the US to engage in candid talks based on respect and equality to find a way forward.

Panelists made these remarks at the Global Prosperity Summit 2025, organized by the Savantas Policy Institute, Shanghai Institutes for International Studies, and the European Chamber of Commerce in Hong Kong.

The summit brought together global experts in trade, artificial intelligence (AI), space technology and climate change to shed light on how these critical issues are impacting global development.

READ MORE: China urges US to show sincerity in upcoming high-level trade meeting

Wu Hailong, the president of China Public Policy Diplomacy Association, said China has maintained a trade surplus with the US over the years, but not as a result of deliberate manipulation.

“The affordable, handy, and high-quality made-in-China products are highly popular among American consumers, and therefore highly popular among American consumers, and are therefore highly competitive. Some of them hardly have substitutes, and so it is a matter of consumer choice and market dynamics,” Wu said in the summit’s keynote speech.

Wu compared the US to a person having internal problems who refuses to seek solutions through introspection. “Imagine someone who refuses medication but insists on others swallowing the pills to cure his disease. Such is the logic of the tariff war recently launched by the US on the whole world.”

Wu emphasized that China has long sought to purchase a wide range of US goods, but the country’s refusal to sell them had led to the current trade imbalance.

He said the recent China and US talks on the tariff issues proved the only way out would be sitting down together for candid talks based on respect and equality.

“We hope that the US can engage with China in a proactive and pragmatic manner by exploring an interaction model that serves the interests of both nations, and contributes positively to the global community,” Wu said.

As the critical issues of trade war, AI, space technology and climate change are impacting global development, the role of Hong Kong as a “super value-adder” and “superconnector” continues to shine.

“The summit is a joint effort by government, think tanks and chambers of commerce to tell the true story of Hong Kong, and help the world recognize the unique role that Hong Kong can play in bridging divides and reducing differences,” said Regina Ip Lau Suk-yee, the convenor of the non-official members of the Executive Council of the Hong Kong Special Administrative Region, and the chairperson of Savantas Policy Institute.

Discussing the trade war issue, other panelists also stressed the unique role of Hong Kong.

READ MORE: China's commerce ministry to help exporters affected by US tariff abuse

“I hope Hong Kong keeps playing an important role as a ‘superconnector’ in a multilateral world because we really need to get out from the situation where we are today,” said Inaki Amate, the chairman of European Chamber of Commerce in Hong Kong.

“Hong Kong is a special case as a ‘superconnector’, ‘superplatform’ and ‘superbridge’. I am confident that Hong Kong can play a better role in 10 to 20 years, because the Chinese mainland would be even better and Europe could be more unified,” argued Yang Jiemian, the academic advisory board chairman at Shanghai Institutes for International Studies.

Jamil Anderlini, Europe regional director at Politico, said that he thinks “Hong Kong can be a bridge particularly as it remains a very important financial center.” He noted that despite challenges and misconceptions, Hong Kong needs to continue to play a bridging role.