China, US need each other economically despite political uncertainties: British entrepreneur

China and the United States need each other economically despite whatever political uncertainties lie ahead, according to a British businessman and advertising executive, who also noted that global trade patterns are shifting as new emerging markets are on the rise.

Martin Sorrell, founder and executive chairman of S4 Capital, a digital advertising and marketing services firm, told the China Global Television Network (CGTN) that the world's two leading economies are reliant on one another, despite their differences.

"There are really twin tracks with the biggest force in the world economy, the U.S., and the U.S. has around 28 trillion [dollars] in terms of GDP, China about 18 [trillion], and the world is about 105-106 [trillion]. So those two economies dominate the world's economy. And we'll have to see what happens as there's some way to go till the (U.S.) election. But given that that's a rather uncertain climate politically on that track, economically, both countries, both the U.S. and China need one another," he said.

Sorrell also offered insights into the evolving dynamics of the world economy, emphasizing the burgeoning influence of the Global South.

"I was looking at a map, it was on the Semafor [news] website a few weeks ago and it was a map of South America and it colored in each country [with] the major trading partner of each country, and it colored red for China, and it was all red. Apart from Mexico and apart from Argentina, all of the other countries, the biggest trading partner was China. And I think we are seeing a very great shift," he said.

"Another way of putting that is that the G7 (Group of Seven), or if you take the 'E7', the so-called 'emerging markets' -- these markets that have emerged like China, like India -- but if you take the E7, their total GDP currently is bigger than the G7. And if you eliminate China and the U.S. from the E7 and G7, make it an E6 versus the G6, the E6 is bigger in terms of GDP. So we are seeing a major shift in the patterns of trade," said Sorrell.

China, US need each other economically despite political uncertainties: British entrepreneur

Chinese Vice Premier He Lifeng on Monday led a central delegation on a visit to Shihezi, a city under the 8th Division of the Xinjiang Production and Construction Corps (XPCC), met local people and carried out inspections.

He led the delegation on a visit to the Xinjiang Production and Construction Corps Reclamation Museum, which shows China's revolutionary undertaking of building the city of Shihezi and reclaiming land for farming in what was once a sparsely-populated desert. At the museum, He, also a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, pointed out that people must carry forward the Corps' spirit, understand the connotations of the times, put resources related to the Party's heritage to great use, and pass down revolutionary traditions.

He said that the Corps should draw motivation from its own seven-decade history, and encourage officials and workers to stay dedicated to working and serving in Xinjiang, and make new and greater contributions.

At Xinjiang Tianye (Group), a state-owned enterprise which is affiliated to the XPCC, He listened to reports on the company's technological innovation and new industrialization development.

The vice premier said that the Corps should adhere to innovation-driven development, develop new quality productive forces according to local conditions, and accelerate a high-end, intelligent and green transition.

He urged the Corps to focus on clean and efficient use of coal, prioritize environmental protection and energy conservation, strengthen leading enterprises, and work on landmark projects in the modern coal chemical industry, to cultivate new momentum for industrial science and technology in pursuit of high-quality development.

Chinese vice premier urges promotion of Xinjiang's high-quality development during inspection tour in Shihezi