The Sino-American Employment Challenge
Following Chinese President Xi Jinping’s summit with US President Donald Trump earlier this month, it seems that the status quo in the bilateral relationship will be maintained. As the two leaders cope with job-destroying technological disruptions, that could be very good news for Chinese and US workers alike.
HONG KONG – Donald Trump’s rise to power in the United States involved more than a little China-bashing. Yet, with Chinese President Xi Jinping’s visit to Trump’s Florida estate earlier this month, it seems that the status quo in the bilateral relationship – crucial for global trade, growth, and stability – will be maintained. That could be very good news for Chinese and US workers alike.
At the summit, Xi reiterated China’s commitment to maintaining a positive relationship with the US. “We have a thousand reasons to get China-US relations right,” he said, “and not one reason to spoil” them. Trump, for his part, accepted Xi’s invitation to visit China soon.
On trade, Trump and Xi agreed to a 100-day plan for discussions on reducing the US trade deficit with China. Moreover, the US accepted China’s proposal to revamp the framework for bilateral engagement by creating the US-China Comprehensive Dialogue, consisting of four sub-dialogues: diplomacy and security, economic issues, law enforcement and cybersecurity, and social and cultural affairs.