US Undersecretary of Commerce for International Trade Francisco Sánchez

The Elite Talk program by Li Zhenyu from People's Daily Online Biz Channel
Every great power has its own pursuits and dreams, so does China. When Chinese new President Xi Jinping came into power with a fresh catchphrase – the Chinese Dream, it soon became a favored topic.

While the vintage, widely understood American Dream is known for its "equal opportunity" for prosperity and success, views on the newborn Chinese Dream are still diverse and colorful.

Joining our Elite Talk program to talk about this hotly discussed topic is Mr. Francisco Sánchez. He is the current Undersecretary for International Trade at the US Department of Commerce and has led international trade missions to China many times. He will share with us his takes on the Chinese Dream from an economic perspective. Here's our talk.

Transcript

Host: As an US senior official, you must have noticed that Chinese President Xi Jinping has put forward a new catchphrase — the Chinese Dream, which can be viewed as China's new guiding spirit or concept. So, what's your interpretation of the Chinese Dream?

Francisco Sánchez: I think that President Xi wants the people of China to prosper and to live in a country with opportunity.

And so I think that he is focused on making reforms that will help continue stable economic growth. And I believe that part of that is fully integrating into the world economic community, encouraging more investment, and as you encourage more investment, it also encourages Chinese companies to invest around the world.

Host: So how do you think the so-call Chinese Dream will affect the US economy and China-US economic ties?

Francisco Sánchez: I think as my president, President Obama, has said that it is in the United States' interest for a strong and prosperous China, and we support that effort. As China grows, we can participate in that growth, and we can help by company investment. And we also want to encourage Chinese investment in our country.

Host: When talking about the Chinese Dream with the Americans, the first thing that pops up in their minds is often the well-known American Dream, which is more widely understood. So, what's your interpretation of the Chinese dream and the American dream? Care to make a comparison of the two dreams?

Francisco Sánchez: That's an interesting comparison. I think the goals and aspirations of what's been known as the American Dream is an interesting one. Certainly the American Dream has been characterized by opportunity and quality of life. And I think that President Xi aspires for similar goals to have a good quality of life and to make sure there is opportunity for personal growth and opportunity for economic growth.