From June 8-9, the China-U.S. summit in Sunnylands, California attracted world attention because President Xi and President Obama decided to exchange in-depth views on global, regional and bilateral issues such as climate change, cyber-security, Sino-U.S. military ties, etc. The two leaders also touched the bilateral economic and trade ties, which have long been considered an anchor of a stable and strong Sino-U.S. relationship.

Though facing a largely uncertain prospect for its economic recovery after the 2008 financial tsunami, the US has for five years worked strenuously to promote economic restructuring, lay out plans for developing new industries globally and shore up its potential competitiveness for future growth.

Commenting on the recent US-China 2022 report, He Weiwen outlines how bilateral trade between China and the US is expected to grow over the next ten years and how this will be beneficial for both countries.

Tensions in US-China relations have not been eased by President Obama’s attempts to revitalize the American economy by establishing a free trade agreement with the European Union. As China has yet to become the United States’ preeminent trade partner, Colin Moreshead urges Beijing to make the first overture to improve trade between the world’s two largest economies.

Dismissing rumors of an impending trade war, He Weiwen promotes China-US business cooperation to solve America’s unemployment crisis and create a win-win scenario for both China and the United States.

Two major security concerns, a rising China and a nuclear North Korea, have prompted the Pentagon to endorse a plan to invest $7.5 billion to strengthen the U.S. presence in the Asia-Pacific region over the next five years. However, it remains to be seen how this fits with Trump administration’s broader policy and military posture for the Asia Pacific.