中文
Chinese Vice Premier He Lifeng (R) meets with visiting U.S. Commerce Secretary Gina Raimondo (L) in Beijing, capital of China, August 29, 2023. [Photo/Xinhua]
By Imran Khalid
Gina Raimondo, the U.S. commerce secretary, is the fourth senior U.S. official to visit China in recent months as the two countries seek to manage tensions. In contrast to her counterparts such as Antony Blinken, Janet Yellen and John Kerry, Raimondo's responsibilities pertaining to economic and trade affairs brought about a sense of optimism that she might at the very least enhance the already established lines of communication between the two sides. Indeed, this is precisely the outcome that has transpired during her visit. In a significant stride towards cooperative economic relations, the meeting between Chinese Commerce Minister Wang Wentao and U.S. Commerce Secretary Gina Raimondo in Beijing yielded an optimistic outcome. Both officials concurred on the establishment of a collaborative working group, a commendable initiative.
This consortium will encompass esteemed deputy ministerial and bureau-level representatives from both nations, accompanied by business delegates. Their collective aim is to tackle specific commercial challenges, embodying a proactive approach. The framework of the working group entails biannual meetings at the deputy ministerial level, underscoring the dedication towards sustained engagement. Wang and Raimondo have committed to fostering consistent communication, further cementing bilateral ties, with a stipulated annual meeting. The mutual inception of an export control information exchange mechanism stands as a testament to openness. This mechanism not only facilitates mutual comprehension of export control systems but also amplifies bilateral communication. Such collaborative endeavors align with the spirit of fostering a foundation for fruitful exchanges between the two nations.
The integration of American and Chinese business leaders into the consultation mechanism is poised to offer policymakers an enhanced insight into the pragmatic requirements of enterprises. This step augments the relevancy of discussions in addressing tangible industry challenges. Ironically, the source of these challenges lies within the U.S. administration itself, as it deploys unwarranted export controls and investment limitations, primarily aimed at China. While her visit has signaled favorable strides in communication, it remains undeniable that the historical depth and breadth of exchanges witnessed in the not-so-distant past have yet to be fully revitalized. Amid evolving dynamics, fostering a renewed equilibrium in communication remains essential, acknowledging both the merits of the present while striving to regain the erstwhile robust exchanges between the two nations.
In a candid dialogue, Wang Wentao underlined his grave apprehensions encompassing a range of issues, notably the U.S. Section 301 tariffs imposed on China, semiconductor policies, reciprocal investment limitations, prejudiced subsidies and sanctions targeting Chinese enterprises. Amidst the discourse, Wang rightly underscored the adverse consequences of broadening the scope of national security, asserting its negative impact on regular economic and trade interactions. The unilateral and protectionist measures contradict established market norms and principles of equitable competition, thereby jeopardizing the global industrial and supply chain's stability.
Crucially, one must recognize that Raimondo's journey to China transpired as a result of the invitation extended by Chinese Commerce Minister Wang Wentao. In the prevailing rather icy climate enveloping China-U.S. interactions, this strategic move by China underscores a robust showcase of goodwill and sincerity. The bedrock of economic and trade exchanges remains a poignant embodiment of the intrinsic win-win character inherent in China-U.S. relations. This economic interdependence, often depicted as the keystone and driving force of the broader bilateral rapport, remains unchanged.
Regrettably, amidst the larger backdrop of the U.S. orchestrating a comprehensive campaign to contain and encircle China, the economic and trade nexus has become a principal target for political salvos. In a twist of irony, Washington appears bent on adopting policies that wound others while foregoing its own gains, exacerbating the schism between rhetoric and reality. In its essence, the shift towards "de-risking" is nothing but a rebranding of "decoupling." Several U.S.-imposed economic, trade and investment limitations on China not only breach global economic norms but also appear illogical. Paradoxically, these actions substantially undermine America's own interests.
The deterioration in trade between the world's leading economies has unfolded throughout the year, a consequence of the persistent U.S. trade and technology confrontation that has curtailed mutual commercial ties. Notably, Mexico and Canada have ascended to supplant China as foremost exporters to the U.S. The U.S.'s inflow of goods from China has dwindled, with the initial half of this year witnessing a 25 percent decline compared to the analogous period in 2022, as per records from the U.S. Department of Commerce.
Collaboration between China and the U.S., poised to yield over 50 percent of worldwide growth, emerges as a positive beacon for the global economy during the ongoing period of downturn. Whether seen through the lens of American self-interest, the imperative of upholding a robust China-U.S. entente, or the preservation of global supply chain security, rekindling the China-U.S. economic and trade rapport should emerge as the top priority. While acknowledging enduring disparities, fostering stability in bilateral economic and trade relations, along with amplifying collaboration in shared domains, holds potential for the U.S. Addressing domestic economic hurdles like inflation and recession could be facilitated through such engagement, while China's robust economy, buttressed by growth-stabilizing initiatives, stands as an exemplar.
Imran Khalid, a special commentator on current affairs for CGTN, is a freelance columnist on international affairs.
