China and the U.S. must avoid both the Thucydides trap and the Cold War trap. This is not only in their strategic interest but also that of other countries in the region and around the world. Both sides must make major efforts jointly and in a sustained manner.

The meeting of two presidents in South Korea laid a solid foundation for the future. Both China and the U.S. will exist for a long time on this planet, and that continuity should be reflected in all their relations. They have charted a new course for mutual success.

The meeting between the Chinese and U.S. presidents in South Korea at the end of October resolved some issues but left many unanswered. These deferred questions will likely drive next year’s Sino-American policy agenda.

In an era marked by trust deficits at the national level, individual businesses have emerged as key vehicles for pragmatic coexistence. Their fundamental rationality may make them, under certain conditions, the only entities capable of maintaining equilibrium.

In a significant recalibration, the Busan summit helped stabilize China-U.S. relations, which now appear unlikely to return to the past or fall into confrontation. Both sides will instead seek equilibrium through communication and prudent action.

The first in-person meeting between Presidents Trump and Xi in six years focused almost exclusively on trade and technology, resulting in a temporary rollback of tariffs and export restrictions but producing no new agreements or progress on broader security or geopolitical issues. The meeting largely served to stabilize U.S.-China relations and decrease tensions, with both leaders agreeing to reciprocal visits in 2026 for further discussions, effectively “kicking the can down the road” on deeper bilateral challenges.

The 12th Beijing Xiangshan Forum was held at the Beijing International Convention Center Sept. 18-19. Professor Wu Xinbo, dean of the Institute of International Studies at Fudan University, spoke with China-US Focus editor Huang Zhijin and assessed the trajectory of Trump 2.0’s China policy. The transcript below has been edited for clarity.

China’s new rare-earth export controls have turned its dominance in the sector into a powerful strategic tool, extending restrictions to technology, equipment, and expertise that tighten global dependence. The move has intensified tensions with the United States and its allies, highlighting how control over critical minerals now defines the balance of economic and geopolitical power.

China and the United States should work to improve their crisis management mechanisms and to promote mutual trust and cooperation. In this way they can contribute to each other’s success, achieve common prosperity and bring benefits to themselves and the world.

The conduct of the Trump administration seems to show that traditional methods of keeping up appearances of cordial relations are no longer in the playbook, threatening U.S. hegemony by sabotaging its own image.