The first round of the US-China Comprehensive Economic Dialogue was held in Washington DC. The U.S. Treasury Secretary Steve Mnuchin, Commerce Secretary Wilbur Ross and China’s Vice Premier Wang Yang co-hosted the dialogue.
This new dialogue was established by Presidents Xi Jinping and Donald Trump at the Mar-a-Lago April meeting in Palm Beach. Since then, the 100-day economic plan for cooperation between the world’s two largest economies has achieved results. The low-hanging fruit harvest addressed agricultural products, agricultural cooperation, financial cooperation, and infrastructure investment cooperation. In addition, China abolished restrictions on imports of American beef. The U.S. delegation in turn attended the international cooperation forum held in May in Beijing, as a signal of support for China’s “Belt and Road” initiative. (The Belt and Road Initiative is a development strategy proposed by China’s president Xi Jinping that focuses on connectivity and cooperation between Eurasian countries, including the land-based Silk Belt and the Maritime Silk Road.)
Here we go again: The U.S president is attacked on a global scale for his thinking on trade and investments. Mrs. Merkel, chancellor of Germany even announced a “new chapter in U.S. European relations” and stated that “Europe must take our fate into our own hands’’. Similar accusations had been raised in 1980 after the election of President Reagan. He was labelled a B class actor, a cowboy and an inexperienced but lucky vote gainer. The accusers were wrong then and they are wrong now!
President Trump lived up to his convictions during the tense G-7 political summit just as he had already done during and after the U.S. presidential campaign. No surprises there when he reflected on the need for more balanced trade relations and the requirement for all nations to pay a fair contribution for the benefits they obtained from the United States.
What impact do refugees have on the economy, and how best can they integrate into their new home? I explore these issues in my interview on CGTN.
What gave Rome it’s preeminent power in the ancient world? No doubt its legionnaires were feared from Iberia to Galcantray. To fund military might the descendants of Romulus engaged in prolific international trade. Today, as globalization and international trade spark heated debates in capitals around the world, it is important to remember the long history of trade. From the Chinese to the Phoenicians, the Spaniards and the Dutch, the mighty British empire and the American industrial powerhouse, trade has been at the center of every great power in history. Great powers can either take that which they need by force, or buy it away. To most, trade is clearly preferable.