American Scholar: Wide Space for US China Economic and Trade Cooperation Injecting Stability into Bilateral Relations | World View Yang Tao | System | Space
China News Network, Beijing, June 21 On June 19, Director General Yang Tao of the Department of American Affairs of the Foreign Ministry briefed the Chinese and foreign media on the visit of US Secretary of State Antony Blinken to China. Yang Tao introduced the five consensus reached between China and the United States. This includes both sides agreeing to jointly implement the important consensus reached at the Bali meeting between the two heads of state, effectively manage differences, and promote dialogue, exchange, and cooperation. Sulab Gupta, a senior researcher at the Center for Sino US Studies in the United States, believes in a recent interview with China News Service that the US China relationship requires three "new normals": stability, constructive nature, and clarity. In the current situation, US China economic and trade cooperation can inject more stability into bilateral relations.
The United States and China should focus on building a "new normal" of bilateral relations
The Biden administration released the National Security Strategy Report in 2022, which stated that the 1920s were a "decisive decade" for the competition between the United States and China. In Gupta's view, this is because the United States and China have produced a large number of breakthrough technological achievements and carried out many technological activities in their development process. China has made significant breakthroughs in the fields of 5G, electronic communication, and new energy, while the United States has made significant progress in areas such as semiconductors and artificial intelligence.
Gupta believes that China has been closely following the United States in terms of technological level, and he predicts that by 2035, China will surpass the United States in certain technological fields. He also believes that the United States should recognize the role of science, technology, and technological innovation, and develop long-term plans like China.
According to Gupta's analysis, the current US China relationship has shifted towards a "new normal", but the "new normal" does not mean that the previous relationship between the two countries no longer exists. Under the new normal, the two countries still have a certain degree of strategic cooperation and partnership, and their cultural exchanges and economic integration will become closer.
Gupta believes that there is no need for the United States and China to become rivals. Although as the world's top two economies, there will be competition between the two sides, at the same time, the two countries also face greater global challenges, including the COVID-19 epidemic and climate change. Therefore, in today's constantly changing international situation, it is particularly important for the two countries to work together.
Gupta firmly believes that in a multilateral international system, the United States and China can still work together to create a better future and create a new normal of stable, constructive, and clear US China relations.
Economic and trade cooperation injects stabilizers into bilateral relations
Since the establishment of diplomatic relations between China and the United States, bilateral economic and trade relations have continuously developed, and cooperation in trade and investment has achieved fruitful results, achieving complementary advantages and mutual benefit. It has been proven that a good economic and trade relationship between China and the United States is of great significance for the development of both countries. Cooperation benefits both countries, while conflict harms both.
Gupta pointed out that in the past few decades, economic and trade exchanges between the United States and China have provided practical guarantees for bilateral relations. He believes that there is still broad space for the development of economic and trade cooperation between the two countries, one of the reasons being that the domestic market in China will experience explosive growth in the future, which lays a solid economic foundation for future cooperation between the two countries.
Gupta also expressed his views on the recent intensive visit of US business leaders to China. He believes that business leaders, including Elon Musk, CEO of Tesla in the United States, are well aware of China's leading position in the field of new energy vehicles and batteries. If a company wants to become a leader in today's global system, it needs to become a strong competitor in the Chinese market. Only by having the ability to compete in the most important market can one become a winner.
In addition, Gupta believes that China has become a super hub for global manufacturing and a global leader in intermediate commodity production. He pointed out that leaders of major enterprises understand that in order to maintain competitiveness, it is necessary to develop business and compete in this huge market in China. Gupta hopes that this driving factor will inject more stability into the US China bilateral relationship.
【