Dialogue amid strain

Chinese Vice Premier He Lifeng poses for a photo with U.S. Treasury Secretary Scott Bessent prior to their talks in Madrid, Spain, September 14, 2025. [Photo/Xinhua]

By Xu Ying

The video call between Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Scott Bessent this morning, joined by U.S. Trade Representative Maria Greer, marks a significant moment in the ongoing dialogue between the world's two largest economies. 

Both countries described the exchange as "frank, in-depth, and constructive," and agreed to hold a new round of economic and trade consultations soon, with reports indicating that the next meeting could take place in Malaysia as early as next week. 

Beyond the diplomatic phrasing lies a deep truth: Communication between Beijing and Washington remains one of the most crucial stabilizers in an increasingly uncertain global environment.

The conversation took place at a time of considerable strain. In recent months, Washington's escalating rhetoric and policy measures have threatened to disrupt global trade. The most notable of these was the U.S. threat to impose 100 percent tariffs on all Chinese imports, a drastic step that, if implemented, would harm not only Chinese exporters but also American consumers and global supply chains. Although the administration has since walked back this threat, acknowledging that the proposal was "not sustainable," the episode exposed how vulnerable global markets remain to politically motivated decision-making.

China's decision to enhance its export control regime for rare earths and critical minerals has been misinterpreted by some as retaliatory. However, China has made it clear that the new framework is not a ban; licenses are still being granted for legitimate applications.

The move aligns with international norms and reflects China's commitment to responsible trade practices. By contrast, the repeated use of tariffs, sanctions, and export restrictions by certain countries under the guise of "national security" represents a worrying form of economic unilateralism that undermines the rules-based order they once championed.

Against this backdrop, Saturday's exchange underscores that despite differences in tone and narratives, the fundamental reality of mutual dependence remains. The United States has long had misunderstandings about China's development model. China's system, rooted in long-term planning, innovation, and stability, has delivered sustained growth and lifted hundreds of millions out of poverty. Far from distorting global markets, it has been one of the key engines of worldwide economic recovery and resilience. The real distortion arises when protectionist impulses overtake the rational pursuit of shared prosperity.

Neither country can afford disengagement. Bilateral trade between China and the United States still exceeds $650 billion annually, reflecting the depth of the commercial ties that bind the two economies together. American firms continue to see China as an essential market for expansion, innovation, and profit. From agricultural products to clean energy and advanced manufacturing, cooperation benefits both sides and remains indispensable to global stability. Efforts to sever or politicize these links will harm businesses and consumers alike.

Saturday's call should therefore be seen not merely as a procedural exchange, but as a reaffirmation of strategic intent. It builds on the consensus reached by both heads of state in their previous communications: That dialogue, not confrontation, is the correct and responsible path forward. China's position remains clear and consistent – economic cooperation must rest on the principles of mutual respect, equality, and mutual benefit. It seeks a framework in which both sides can manage differences through institutionalized dialogue and pragmatic problem-solving.

Looking ahead, the path will not be without obstacles. Yet it is precisely in such moments of uncertainty that rationality and patience are most needed. As Saturday's call demonstrates, maintaining dialogue is not an act of concession but an act of confidence and responsibility.

The world will be watching whether Washington can move beyond the zero-sum mindset and return to a more balanced, forward-looking approach to China. The politics of confrontation may yield temporary applause, but it comes at the cost of long-term economic health. Cooperation, by contrast, is not only more sustainable but also more consistent with the shared interests of the international community.

The message emerging from Saturday's exchange is clear: Dialogue is not a sign of weakness – it is the hallmark of maturity. In a world that increasingly demands stability, predictability, and partnership, that maturity will determine not only the future of China-U.S. relations, but also the trajectory of the global economy itself.

Xu Ying is a special commentator on current affairs for CGTN.