More importantly, the recent rounds of high-level consultations between China and the U.S. have been carried out in an orderly manner under the direction of the heads of state of the two countries.
Indeed, China-U.S. relations have global implications, and this round of China-US trade talks completed last Friday, like any previous rounds, became the center of attention from the media and observers. What progress has been made is what the media want to find out.
The highlight will be the summit between Chinese President Xi Jinping and U.S. President Donald Trump, representing the world’s two largest economies.
Although some White House officials are playing down the likelihood of the meeting producing a positive outcome, Trump appears to have toned down his intransigence and cracked the door open to a possible deal.
Beijing’s momentous effort over the last month has seen Washington’s position significantly shift, resulting in Trump and his team returning to the negotiating table.
Trump’s steps to quit multilateral international obligations, and initiate a trade war against several countries made it clear that to him, the Republican Party was doomed to lose control of the House.
The United States insisted on the pre-emptive clause during the negotiations with Canada after raising concerns that Prime Minister Justin Trudeau was exploring the possibility of a free trade deal with China.
Rather than seeking a chance to pursue common ground and solve differences, Pence’s speech read like a checklist of how best to antagonise, irritate and provoke Beijing.
So how did some U.S. exhibitors view the expo?
The US, long the world’s largest destination of FDI inflows, lost the top position for the first time in decades. Its ranking slid to third, with total FDI inflows of $46.5 billion, less than China ($70.2 billion) and the UK ($65.5 billion).
China does not need and will not seek a release of pressure on commodity exports by guiding the RMB to unilaterally depreciate sharply. In fact, this is also unfavorable to China in its efforts to attract foreign investment and enhance its import capacity.
It’s impossible for the US be merciful to China, and China is certain to lower its expectations regarding cooperation with the US.