The meeting between the leaders of China and the United States in Beijing last week marked another important round of high-level strategic communication between the two countries at a pivotal moment in history.
Observers said they believe the candid and in-depth exchanges helped further strengthen mutual trust, manage differences, expand common ground and advance cooperation. The summit also provided a clearer direction for the future development of China-US relations and sent positive signals to the international community.
President Xi Jinping held talks with visiting US President Donald Trump in Beijing on Thursday. Xi said he has agreed with President Trump on a new vision of building a constructive China-US relationship of strategic stability.
The “constructive strategic stability” should be positive stability with cooperation as the mainstay, sound stability with moderate competition, constant stability with manageable differences, and enduring stability with promises of peace, Xi said.
“We are very glad the summit concluded on a positive note,” said John E. Drew, chairman of the board of directors of the World Trade Centers Association.
“While the terms of the constructive strategic stability were more of a broad vision for US-China bilateral relations, they mean a lot for the rest of the world, particularly the global business community,” he said.
The commitment to greater stability reached by the leaders of the world’s two largest economies will help lay a solid foundation for the ongoing restructuring of global supply chains and benefit economies and businesses worldwide, he added.
Park Soong-chan, chairman of the Korea-China Association and a professor of Chinese studies at Yong In University in South Korea, said the meeting between the leaders of China and the US was meaningful and constructive, with both sides agreeing that stable management of bilateral ties and healthy competition serve the interests of both countries.
China and the US together account for about 40 percent of global GDP. Deeper and broader economic and trade cooperation between the two countries will have a positive impact on economic development across the Asia-Pacific region, he said.
“In particular, if supply chain cooperation between the two countries is strengthened, it could become a new turning point for the current fragmented industry and value chain,” Park added.
The summit carries significant importance at multiple levels. As major global powers, China and the US both exert far-reaching influence through their domestic and foreign policies, said Hussein Askary, cofounder and vice-president of the Belt and Road Institute in Sweden.
“A stable and responsible relationship between China and the United States must also contribute to a more stable and prosperous world. The actions of both countries affect the entire international community, and, therefore, they must work together constructively on major global issues,” he said.
From a European perspective, the summit is also of great significance. Both China and the US are key partners of the European Union and wield considerable influence in different ways. The US remains Europe’s most important security and political partner, while China is one of the EU’s largest economic partners, he said.
“For these reasons, it is in the EU’s interest for China and the United States to find ways to cooperate, stabilize the international situation, and support a stable global trading system,” Askary added.
Michael Schumann, chairman of the German Federal Association for Economic Development and Foreign Trade, said Trump’s visit to China, accompanied by a high-profile delegation of US business leaders, sends an important message: despite strategic competition, the world’s two largest economies remain deeply interconnected.
“From a German business perspective, this is encouraging. Stable and improving economic ties between China and the United States are not only in the interest of both countries, they are also essential for global confidence, investment and supply-chain security,” he said.
The new vision of “constructive strategic stability” is, therefore, highly relevant. It can gain real credibility only when supported by practical economic cooperation. This reflects what is often referred to in Germany as economic diplomacy: building trust through business ties, dialogue and long-term engagement, Schumann added.
Yang Han in Hong Kong, Yifan Xu in Washington, and Xinhua contributed to this story.
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International experts hail new focus on constructive stability
