Commentary: From co-evolution to decoupling, a new US-China relationship - Channel NewsAsia
Trump and Xi Jinping will talk about the trade war and other US-China issues during a working dinner during a G20 meeting. Browse US-China relations news, research and analysis from The Conversation. further tensions in the strained relationship between China and the US. I replied that the United States and China have entered a new phase in their relationship, but that the cold war metaphor is misleading.
So what are the prospects for US-China relations in ? An agreement on tariff reductions by then is also possible, although its complexity may lengthen the timeline.
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A tariff-by-tariff approach could take a year. But if Chinese economic reformers take a more dramatic approach, by committing to zero tariffs over time and challenging the Americans to reciprocate, it could be concluded more rapidly.
The reform of so-called forced technology transfer should be relatively straightforward. Nonetheless, reform is different from how contractual arrangements may be interpreted in practice, even in the absence of any specific technology transfer provisions. Intellectual property protection, however, is deeply problematic.
Commentary: The cooperative rivalry of US-China relations - Channel NewsAsia
But the jurisdictional enforcement of breaches is still hopeless. One possible mechanism is to subject relevant contracts between Chinese and foreign firms to international commercial arbitration bodies located in Singapore or Switzerland, designed to deal specifically with the enforcement of IP protection. But the country would need to appoint qualified foreigners to its panel of arbitrators to build international credibility. For its own domestic reform needs, China needs to move toward fully independent commercial and civil divisions of its court system, even if the criminal division remains subject to political control.
The reality is that all countries use degrees of government support for their indigenous technology industries, although China uses the most.
Even if we mandated a maximum level of state support for a given firm, compliance would be difficult to measure.
I am not confident of a negotiated outcome in this area. Trump's 'America First' agenda is in stark contrast with the globalisation and regulatory integration popular among the Davos crowd.
Moreover, its ambitious state-sponsored Made in China plan reportedly aims to challenge US supremacy in sophisticated technologies arenas such as AI and biotech. There is truth on both sides. However, the United States cannot slash its trade deficit with the rest of the world unless Americans have enough savings in their bank accounts.
Prospects for US-China relations in
Although Trump supporters disparage cheap imports from China, Americans dependent on credit cards rely on those low prices. This is disruptive and dangerous, for two reasons. Geopolitically, a divorce forces other countries — mainly longstanding US allies in the region — to pick sides.
Japan, India, Australia and South Korea and other likeminded countries in the region are economically entangled with China.
Hanidah Amin Secondly, disengagement could lead to hostility. During the Obama administration, Washington and Beijing reached an unprecedented agreement on controlling cyberattacks as well as a landmark agreement in Paris to curb rising temperatures.
Washington and Beijing should seek a new paradigm in the bilateral relationship. First, the two countries must develop a new set of rules in trade and economics, incorporating these into existing agreements and encouraging both economies to prosper in the 21st century.