China and the United States have finally signed the first phase of an economic and trade agreement. The deal was not easy to agree upon and should be cherished by both sides.
This agreement was reached following 22 months of a trade war, during which both China and the U.S. suffered losses. However, both of these major economies are running smoothly, demonstrating a strong tolerance for the trade war. In other words, should the trade war continue for another 22 months, China and the U.S. both have the capital and resources to declare their ability to withstand it. Therefore, this agreement is not a one-sided win but rather is destined to be the result of both sides’ compromise.
This full-blown trade war, initiated by the U.S., at one time gave both sides angry red eyes. The conflict was brought to an end by the first phase of an agreement that was reached without fatal consequences for either party. This demonstrates that neither China nor the U.S. is acting with a clear head. Both sides believe that a long-term trade war will not assist in achieving the nations’ strategic objectives, not only increasing losses but also creating more severe risks.
The 22-month trade war and surrounding negotiations are closely intertwined; therefore, China and the U.S. should both express a better understanding of the other side’s abilities, willpower and bottom line. This will likely be beneficial to the prevention of future conflicts. If both sides can learn from the lessons of the past 22 months when raising the stakes in the future, then this trade war will not have been fought in vain.
The first-phase agreement signed by China and the U.S. certainly renders both sides slightly regretful, not entirely satisfying either side with the deal. This is precisely the repercussion that a relatively fair agreement will create. It must be said that to debate who won and who lost at this time, as well what was won and lost by whom as a result of the deal, is a shallow way of thinking. This sort of debate is often dramatized for political purposes.
The thing most worth pointing out is that this economic deal will further expand trade between China and the U.S. This result is entirely contrary to the overall state of Chinese-U.S. trade since the start of the trade war. This constitutes a strategic paradox: the result of the trade confrontation between China and the U.S. is that their markets are more tightly intertwined.
It is this paradox that causes many people to feel anxious: will a preliminary trade deal reached during a period of marked decline in Chinese-U.S. strategic relations really prove effective? Additionally, how long can it last? Will this agreement be followed by a new conflict or will the countries move forward with negotiations?
It is impossible to predict the future at this time, but what is very clear is that the Chinese, the United States and global markets all welcome this first-phase economic agreement. This positive reception is more authentic than the noise expressed in political circles and public forums, because votes cast using real gold and silver will not tolerate the slightest bit of hypocrisy or insistence on paranoia.
It may be more difficult for China and the U.S. to reach a comprehensive trade agreement in the future, but we hope that this initial deal will provide messaging that allows an environment for positive efforts to take shape. The past 22 months have seen great ups and downs, but the two sides have not abandoned communication and negotiations, nor have they abandoned the difficult task of reaching consensus. This is one of the greatest experiences to be gleaned from this process.
We hereby call upon those who will conduct future negotiations for China and the U.S. to exercise restraint in criticizing this preliminary trade deal for political purposes. Those who advocate for conflict as a priority alternative should similarly exercise restraint. The true harm of this Chinese-U.S. conflict is not nonsense. Repeatedly verifying this simple truth with increased losses is a senseless waste, and continuing to promote this sort of waste demonstrates a severe lack of morals.
If only this initial phase of a Chinese-U.S. trade agreement can be implemented smoothly, then it will encourage further receptiveness to economic consultations, as well as providing ideas and momentum to alleviate tensions between China and the U.S. Please remember, history presses forward. Exercise a force for its advancement that greatly benefits the future.