Both Agree on Trade Benefits
The commercial relationship between the United States and China has grown enormously in breadth and depth over the past decades and has brought significant benefits to both countries, the Asia-Pacific region and the global economy.
Weighing Competition and Cooperation
China: The Chinese and U.S. economies are mutually dependent, with cooperation outweighing competition.
U.S.: The two economies appear less complementary and increasingly competitive.
China: Constructively alleviate trade friction; Conclude talks on BIT; Strengthen cooperation in global infrastructure construction; Increase coordination and cooperation in macroeconomic policies.
American commercial policy toward China is most likely to shift toward more constrained or conditional cooperation. Reducing the extent of tensions will depend on how China responds to American concerns.