China-US relations at forum in Hong Kong calls for maintaining partners' relationship

Global experts and scholars gathered at the sixth United States-China Hong Kong Forum in the Hong Kong Special Administrative Region on Monday and Tuesday, calling for overcoming differences between the two countries and maintaining the partners' relationship.

The annual event brought together more than 350 guests from across China, the United States, Singapore, Germany, and India to discuss topics such as deepening people-to-people exchanges between the two countries.

National Committee on U.S.-China Relations Board Chair Charlene Barshefsky, a former U.S. trade representative, rebuked the decoupling between China and the United States advocated by some U.S. think tanks.

"I think to decouple the economies is, first of all, highly unrealistic, and second of all, potentially destructive of global growth, which would be counterproductive," she said.

Late former U.S. President Richard Nixon's grandson, Christopher Nixon Cox, a board member of the Richard Nixon Foundation, expressed his hope that the diplomatic wisdom his grandfather demonstrated in breaking the ice for U.S.-China relations back then can continue to contribute to the healthy development of bilateral ties today.

"It's through that focusing on mutual interest, and then working out differences that I think he could make a very big difference today in terms of making the relationship between China and the United States even better," he said.

Participants also discussed topics such as artificial intelligence, technology governance, and supply chain resilience.

"All voices should be heard, and then together form a joint force to promote the development of relations between the two countries. I think it's fine for voices to differ and opinions to vary, but there must be one consensus, that is, China and the United States should be partners," said Shen Xin, vice president of the Chinese People's Association for Friendship with Foreign Countries.

Themed "Circles for Peace", the sixth U.S.-China Hong Kong Forum is organized by the China-United States Exchange Foundation (CUSEF), a Hong Kong-based non-governmental organization dedicated to promoting dialogue between the two countries, and co-organized by the Chinese People's Association for Friendship with Foreign Countries.

China-US relations at forum in Hong Kong calls for maintaining partners' relationship

As much as 37 percent of Americans saw their debt increase during this year's holiday shopping season, with average debt rising to 1,223 U.S. dollars from 1,181 dollars last year, according to the latest holiday debt survey of LendingTree, the nation's online loan marketplace.

The survey, conducted earlier this month among more than 2,000 U.S. consumers, found that rising tariffs and higher prices have put additional pressure on household budgets.

In a statement, LendingTree's chief consumer finance analyst Matt Schulz said the strain becomes more pronounced during the holiday season, as many consumers are reluctant to change long-standing shopping traditions, even as costs rise, leading to higher debt levels.

According to the survey, 63 percent of borrowers expect it will take three months or longer to repay their holiday-related debt, while about 41 percent said they are still paying off debt from last year. Schulz warned that if borrowers need six months to a year or more to repay their balances, the situation becomes more serious due to high credit card interest rates.

Data from Bankrate show that the average U.S. credit card interest rate currently exceeds 20 percent.

Meanwhile, U.S. consumers have grown increasingly pessimistic about their financial situation. Data released on Tuesday by The Conference Board showed that the U.S. Consumer Confidence Index fell for the fifth consecutive month in December, dropping to 89.1, the lowest level since April, amid deepening anxiety over jobs and income.

Over one-third of Americans rack up holiday debt: survey