President Xi Jinping and US President Donald Trump have agreed on a new vision of building a constructive bilateral relationship of strategic stability.
Observers said the move could help enhance China-US cooperation, manage differences between the world’s two largest economies, and inject much-needed certainty into development for both countries and the world at large.
The vision, unveiled during Trump’s three-day state visit to China last week, is expected to provide strategic guidance for bilateral ties over the next three years and beyond while sending a positive message to the world.
Ye Chun, president of the China General Chamber of Commerce in Los Angeles, said the high-level meeting between the Chinese and US heads of state will help stabilize bilateral economic and trade relations, thereby contributing to the stability of global trade and the broader world economy.
“Stable China-US ties are critical not only for the two countries, but also for global supply chains, trade and investment confidence. At the same time, cooperation on major sensitive issues is key to improving broader bilateral relations,” Ye said.
Edward Cai, president of the All American Chinese Association in Southern California, said the dialogue reflects the active efforts and strategic vision of the two countries to build a stable and constructive relationship between major powers in the new era.
“The two sides have reached a broad consensus on economic and trade cooperation, people-to-people exchanges, technological innovation and international affairs — developments that have deeply encouraged overseas Chinese communities,” he said.
In-depth discussions
During their meeting, the two leaders held in-depth discussions on economic and trade issues, further charting the course for the development of bilateral economic and trade relations, China’s Ministry of Commerce said on Saturday.
According to the ministry, China and the US have achieved positive outcomes during their recent consultations. For example, they will establish trade and investment councils.
Lawrence Loh, director of the Centre for Governance and Sustainability, National University of Singapore Business School, said the recent discussions of the two leaders bode well for China-US relations, which remain the world’s most important bilateral relationship.
The expected economic benefits of the summit will extend beyond China and the United States, bringing positive spillover effects to the global economy as well, he said.
Nicolas Sartini, senior vice-president for business development at the Mediterranean Shipping Company, said Trump’s visit to China comes at a critical moment for global trade.
“From the shipping industry’s perspective, stability and predictability between the world’s two largest economies are essential. The China-US trade relationship remains one of the most important corridors for global commerce and every disruption creates ripple effects across global supply chains,” he said.
“The summit will boost business confidence,” said Jack Midgley, principal consultant at Midgley & Company, and adjunct associate professor in the Security Studies Program at Georgetown University in Washington.
A moderate and balanced tone reflected in the summit matters because even small signs of restraint can help calm markets and reduce geopolitical tensions. The message conveyed by the summit appears clear: keep communication channels open and prevent tensions from escalating, he added.
Bruce McLaughlin, CEO of Sinogie Consulting Group, Australia, said that given the current international environment, global stability will increasingly depend on open, stable and rules-based trade and investment arrangements.
As the world’s two major economies, China-US relations affect not only bilateral trade and economic exchanges, but also global market confidence and the stability of industrial and supply chains in the Asia-Pacific region, he said.
Yifan Xu in Washington, Xu Weiwei in Hong Kong, Victor Raballa, Sharon Nakola in Nairobi, and Xinhua contributed to this story.
Contact the writers at [email protected].
Summit charts course for China-US relations
