China remains committed to its 40-year-old process of reform and opening up. But following through on this commitment will require China's leaders to find ways to manage escalating tensions with the US and avoid a costly – and potentially devastating – reconfiguration of the global economy.
BEIJING – US President Donald Trump and Chinese President Xi Jinping may have agreed at the G20 summit in Osaka to resume trade negotiations, but the path to ending the trade war remains far from clear. After all, the two leaders reached a similar agreement at the previous G20 summit – in Buenos Aires last December – and those talks ultimately failed, not least because Trump mistook China’s conciliatory attitude for weakness.
BEIJING – US President Donald Trump and Chinese President Xi Jinping may have agreed at the G20 summit in Osaka to resume trade negotiations, but the path to ending the trade war remains far from clear. After all, the two leaders reached a similar agreement at the previous G20 summit – in Buenos Aires last December – and those talks ultimately failed, not least because Trump mistook China’s conciliatory attitude for weakness.