Has America’s astonishing economic growth strengthened its involvement in China negotiations?

12:56

The war on fentanyl: The Chinese drug destroying American lives

The war on fentanyl: The Chinese drug destroying American lives

But Liang Yang, a professor and chair of economics at Willamette University in Oregon, said the negotiations had little to do with economic forces such as interest rate differentials, capital outflows or trade.

“With inflation falling, it is even less likely that tariffs will be gradually lowered,” he added.

“Politics is really what drives these negotiations.”

“Growth is nothing special”: 7 points to glean from China’s economic data

Alfredo Montufar Hell, director of the Conference Board’s China Economy and Business Center, said the United States is concerned about market access for American companies and improving China’s business environment. Addressing unfair trade practices such as state subsidies. and reducing the trade deficit.

He added that China is interested in easing trade sanctions, preventing further tightening of technology regulations, and removing Chinese companies from US blacklists.

Brian Wong, a researcher at the Center for Contemporary China at the University of Hong Kong, said: “As the Chinese government seeks to steer China towards a steady recovery, it is likely to further intensify or intensify already entrenched market skepticism and anti-China sentiment. I don’t want to do that.” world.

“[And US President Joe] Given the wars in Gaza and Ukraine, there is good reason for Biden to want to avoid getting drawn into further military conflict. ”

Ms. Yellen is expected to return to China this year, but analysts say her involvement may not bear fruit as both countries tend to maintain relations status quo in election years. Ta.

“Yellen has long been marginalized in the Biden administration…she is unable to add concrete value to bilateral relations,” said Lu Xiang, a U.S.-China relations expert at the Chinese Academy of Social Sciences. spoke at a meeting. Elections are scheduled to be held in November.

“Well, as of now, [US] It is even harder to expect her to play a significant role when the government is in “garbage time.” ”

Lunar New Year benefits are a stopgap, but China’s economy has other priorities in 2024

“Both countries should strengthen dialogue and communication, help enterprises deal with the various challenges faced in actual economic and trade cooperation, and strive to exploit the potential of such cooperation,” Wang said. Stated.

U.S. companies have expressed their “greatest concerns” about U.S.-China relations, he added, creating a risk of business issues becoming politicized.

“We are serious about addressing the problems that businesses need to solve,” he added.

Lu, of the Chinese Academy of Social Sciences, added that China’s economic growth is not lagging behind other major global economies, and a moderately high growth rate is likely to become the “new normal.”

“China’s economic woes could dampen global economic growth, but the United States is unlikely to be significantly affected,” said Neil Thomas, a China politics researcher at the Asia Society.

As decoupling progresses, China’s exports to the United States fell 8.1% from the previous year last year, but Han Sheng Lin, a finance professor at New York University in Shanghai, pointed to the possibility of an “alarming scenario.”

“[Lagging] “With increased consumption, China will turn to excessive exports for economic growth,” he said.

“The entry of Chinese goods into the United States is certain to provoke a protectionist reaction during this sensitive US election period.”