The U.S.-China trade talks are taking place in an environment of mistrust and suspicions ,writes Michael Ivanovitch.
The U.S.-China trade talks are taking place in an environment of mistrust and suspicions fed by acute security issues and systemic disagreements about economic and trade policies.China, however, should get out of the bind it created for itself by fast-tracking the decline of its excessive and unsustainable trade surpluses with the U.S.
Blissfully ignoring the taunts, Beijing pocketed, on Trump's watch, $961.8 billion in net income, with technology transfers that go with it, on its American goods trade. By the end of this year, China's net income on goods sales in U.S. markets will hit $1.1 trillion. But let's stay with the U.S., where the question is: What can, and should, Trump do about trade with China?
Beijing, however, has a problem because its trade record with the U.S. shows the "win-win" mantra is, in fact, an axiomatic "I win, you lose" zero-sum-game. A "community of shared future for mankind" is a noble view of a world to strive for, but it's too ethereal as a practical political guideline. With those trade numbers, China has become an election issue in the U.S. Indeed, Washington's huge trade deficits with China can be taken to support Trump's arguments of a big China rip-off, economic war on America and alleged technology thefts — all issues that resonate with the American public and audiences around the world.
Given such a difficult bilateral agenda, it is clear that solutions to trade problems are a matter of patient diplomacy rather than hostile trade measures.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Beijing responds to Trump's new $300 billion tariff threatChina's foreign ministry reportedly said Friday that while Beijing did not want a trade war with the U.S., it was not afraid to fight one.
Baca lebih lajut »
US restaurant chains look to China for sales growth as trade war continuesAmid a trade war that has waged on for more than a year, the largest restaurant chains in the U.S. are ramping up development in China.
Baca lebih lajut »
Asia markets set to decline amid US-China trade concernsStocks in Asia were set to trade lower on Monday as investors remain concerned over a recent escalation in the U.S.-China trade war.
Baca lebih lajut »
'Not afraid to fight': China shoots back after Trump deepens trade war'We don't want to fight, but we are not afraid to fight,' China's foreign ministry spokeswoman said in response to the announcement.
Baca lebih lajut »