Sino-US reciprocal cooperation should not be hesitant

A ship from Shanghai, China transports neo-Panamax cranes to the Conley Cargo Terminal in Boston, Massachusetts, United States, June 22, 2021. / Getty

A ship from Shanghai, China transports neo-Panamax cranes to the Conley Cargo Terminal in Boston, Massachusetts, United States, June 22, 2021. / Getty

Editor’s Note: Azhar Azam works in a private organization as a market and business analyst and writes on geopolitical issues and regional conflicts. The article reflects the views of the author and not necessarily those of the CGTN.

Although there has been no breakthrough and Chinese President Xi Jinping and US President Joe Biden have not concocted a joint statement, US media have admitted that the “tone of the relationship” has improved dramatically. Some previous and subsequent events have also suggested that relations are slowly thawing between the two world powers, Beijing and Washington.

A joint Sino-US statement at the 26th United Nations Conference of the Parties on Climate Change (COP26) in Glasgow, where presidential envoys from the two countries, responsible for around 40% of global carbon production, focused on agree on strengthening climate action and signed an agreement reducing greenhouse gas emissions surprised everyone. They also intend to establish a working group, which could include technical exchanges and the identification of areas of mutual interest, which will meet regularly throughout the decade.

Then, ahead of the much-anticipated talks, China and the United States agreed to ease travel and visa restrictions for journalists, allowing them to enter and exit the two countries more freely. In February of last year, Washington classified five Chinese media organizations as a “foreign mission” in order to exercise tighter control over the Chinese media.

Biden qualified the virtual meeting in positive terms, said the two leaders had “a lot to follow” and announced the establishment of four task forces, revealing that there will be more to report in the next two weeks. He did not provide specific details. However, it was important that meaning finally prevail in the White House to improve, stabilize and define the direction of the perhaps crucial bilateral relationship in the world.

Understanding any conflict between the two major economies would be a powder keg for their economies, and China will not budge on issues of national interest, the US president sought “direct competition” with Beijing. As Biden’s aides struggled to end the United States’ policy of commitment to China for “stable and peaceful competition,” the approach raised concerns about ending the trade war and ending the trade war. reducing tariffs that have caused supply chain disruptions and hurting businesses on both sides.

“Build Back Better” is Biden’s economic metaphor through which he emerges from the “America First” policy of his predecessor. As he explores areas of cooperation with Beijing, he should turn off the tariff heat of Sino-US trade relations.

US companies importing goods from China expected Biden to call off former US President Donald Trump’s trade wars because they were jaded by the latter’s policies and voted for a moderate, pro-business presidential candidate Last year. But 10 months after the start of the White House, $ 350 billion in taxes are still in place and continue to impact the lives of ordinary Americans.

Lowering or removing levies on China could ease inflationary pressures on American families, farmers and businesses and create 145,000 jobs by 2025, with “significant decoupling” threatening U.S. GDP to shrink by 1 $ 600 billion over the next five years. The fact that tariffs tend to drive up prices and drive up costs was acknowledged by US Treasury Secretary Janet Yellen in a recent interview.

The Biden-Xi virtual meeting came at an extraordinary time when international growth is returning but faces short-term risks with soaring global inflation. “Bidenflation,” following the Department of Labor’s announcement of a 6.2% 12-month price hike to all-time highs in nearly 31 years, has really hurt American businesses and citizens.

Chinese President Xi Jinping meets with US President Joe Biden via video link at the Great Hall of the People in Beijing, capital of China, Nov. 16, 2021. / Xinhua

Chinese President Xi Jinping meets with US President Joe Biden via video link at the Great Hall of the People in Beijing, capital of China, Nov. 16, 2021. / Xinhua

There is no doubt that the supply chain problem is a global phenomenon; Trade policies and silly government practices have seriously exposed the vulnerability of America’s inefficient logistics system. Amid the international shipping crisis, the United States imposed an additional 221% tariff on the world’s largest chassis manufacturer, China Intermodal Marine Container, and exacerbated supply chain problems for domestic companies and companies. inflationary pressures.

Many voices have called for defusing tensions between Beijing and Washington in the past.

Warning Trump that his efforts to treat China as an enemy and disassociate it from the global economy would undermine America’s international role and reputation – several senior experts in 2019 accused US actions of contributing to the downward spiral of the relationship. They believed that China should not be seen as an economic adversary or an existential threat to national security, and its economic expansion was unstoppable despite opposition from Washington.

The importance of a thaw in bilateral relations and cooperation is being realized in the United States for present and future generations, protecting the country’s strategic interests and seeing Beijing’s vitality in climate change, the transition to energy clean, green technologies, scientific research and public health. In the recent past, unwarranted US restrictions have disrupted academic, journalistic, people-to-people and business exchanges between the two countries.

Washington should understand that with great economic strength comes great responsibility. Over the years, America has shirked this fundamental duty that would have eased tensions and fostered bilateral and international trade and economic growth. A message to maintain strong and warm ties from the Chinese and US leaders will signal them to reconnect and work together for mutual growth.

The White House promotes Biden’s idea of ​​establishing “guard rails” to avoid accidental clashes and to handle competition responsibly. Fear of a political backlash could prevent the US president from effectively focusing on repairing all Sino-US relations, but broad and frank talks to expand cooperation between China and the United States, two economies accounting for 40% of the world economy, should not be allowed to linger for a long time.

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