I saw nothing but denial in my recent post-US-election tour of Asia, with stops in Hong Kong, Shenzhen, Beijing, and Singapore. Taking a cue from surging global equity markets, Asians are making every effort to wish away problems at home and abroad.

Republican proposal, along with heavy tariffs promised by Donald Trump and certain retaliation by U.S. trading partners, would drive the global economy into a new Great Depression. Rather than trying to punish China, the U.S. should continue to maintain dialogues and establish practical trade and investment collaboration.

The current state of bilateral relations in agriculture, services and NEVs underscores the fact that engagement and cooperation underpinned by self-confidence and mutual trust are essential prerequisites for a more promising future in China-U.S. relations.

Even amid frictions, empirical data show that trade between China and the United States is an objective economic law, based on complementary economies. Political tensions and other restrictions could distort or delay the growth but will be unable to kill it.

Charlene Barshefsky, a former top U.S. official, discusses in the interview with China-US Focus the lengthy negotiation process for China's entry into the WTO and its lasting impacts on China's economy, global integration, and U.S.-China relations, despite current challenges in trade norms and geopolitical shifts. She also emphasizes the significance of international businesses having a presence in China and the considerations they need to evaluate when determining whether to expand to the Chinese market.

An overemphasis on competition may lead to pessimism and miscalculation. While the United States appears to be upgrading measures designed to pressure China, it should also strengthen its economic and trade ties. Interdependence and mutual benefit are excellent motivators.

Given Washington’s strategic hostility toward China and its continual assertion of national security, it’s unrealistic to expect a general improvement in economic and commercial ties. New curbs on China — and more friction — are likely in the offing.

Through sincere efforts by the U.S. and China, it’s possible that the decline in trade will bottom out this year. Strong business relationships can once again serve as a stabilizing factor in the overall relationship, and inure to the benefit of our two peoples and the world.

Lip service notwithstanding, what Washington has been doing over the years is a form of decoupling with China — in the guise of national security. Top American officials have not articulated any boundary between decoupling and what they say are moves to “de-risk” the relationship. In many ways, they look the same.

The decline in trade cannot continue, as both countries need each other. It can be expected that they will patch up their disputes and work together, turning the numbers around to bring more tangible benefits to their people.