(Source: "China Economic Times" 2026-05-20)
In recent days, the meeting between the heads of state of China and the United States in Beijing has attracted great attention from the international community. The leaders of the two countries agreed to build a "constructive strategic and stable relationship between China and the United States" as the new positioning of their relations and jointly open a new stage of Sino-US relations.
President Xi Jinping said during the meeting that "constructive strategic stability" should be benign stability with moderate competition.
As the world’s top two economies, the stability of China-US relations has a profound impact on the global economic landscape. Experts interviewed by reporters from China Economic Times believe that healthy and stable competition with a certain degree of competition is actually building a new framework for future Sino-US economic and w88 relations that is "competitive, cooperative, and risk-controllable."
Healthy competition: the "catalyst" for industrial upgrading in China and the United States
It should be noted that competition between major powers is an objective reality, and the scope of cooperation between China and the United States is far greater than the scope of competition. While insisting on "cooperation first", controlling competition within a "moderate" range, abandoning vicious competition, and not engaging in zero-sum games can not only promote China and the United States to accelerate their respective development paces through mutual learning, but also overcome the "Thucydides Trap" and use China and the United States' mutual achievements to drive world peace, development and common prosperity.
Wang Zhimin, researcher at the National Institute for Opening-up at the w88 casino and director of the Institute of Globalization and Chinese Modernization, said in an interview with a reporter from the China Economic Times that acknowledging competition but not engaging in confrontation, fair competition under relevant WTO w88 rules and the United Nations framework, a bottom line in political and economic aspects to prevent loss of control, and healthy interaction under the premise of mutual respect are the profound connotations of "benign stability with moderate competition."
In Wang Zhimin’s view, this kind of “benign stability with moderate competition” will have a positive impact on the industrial development of China and the United States. For China, healthy competition between China and the United States will transform China's competitive pressure into innovation power, accelerate the research on key core technologies, further enhance the resilience and competitiveness of the industrial and supply chains, and promote Chinese industries to move up the global value chain. For the United States, the rapid development and healthy competition of China's industries will force the United States to increase investment in local manufacturing, promote industrial reshoring and upgrading, and avoid intensifying industrial hollowing out.
Li Wei, director of the Developed Economies Research Office of the Institute of Foreign Economics of the National Development and Reform Commission, said in an interview with a reporter from the China Economic Times that for the industries of China and the United States, "benign and stable competition with a degree of competition" is both a "protective forest" and an "accelerator", providing a solid foundation for the two countries' industries. Delineating the bottom line and establishing guardrails for industrial interaction will create a more predictable external environment for enterprises, which will help Chinese and American industries improve their resilience and upgrade speed in open competition, promote enterprises of both countries to improve innovation efficiency and development capabilities in healthy competition, and promote China and the United States to explore more new points of convergence in the global value chain.
Liu Ying, a researcher at the Chongyang Institute for Financial Studies at Renmin University of China, said in an interview with a reporter from the China Economic Times that healthy stability at the industrial level first means that the Sino-US industrial and supply chains are expected to shift from "decoupling and disconnection" to "competitive coexistence."
In Liu Ying’s view, this will help stabilize external market expectations. On the one hand, China's manufacturing, high-tech industries, new energy industries and digital economy can obtain a more stable international market environment and reduce the uncertainty caused by extreme pressure and pan-security review; on the other hand, it will also force China to further improve its independent innovation capabilities, accelerate technological breakthroughs in high-end manufacturing, chips, artificial intelligence, biotechnology and other fields, and promote the industrial chain to jump to the mid-to-high end. For the United States, "moderate competition" means that its industrial policy may gradually shift from "comprehensive containment" to "precision competition." The American business community is actually very worried about the rising costs and market losses caused by the comprehensive confrontation between China and the United States. U.S. companies are highly dependent on the Chinese market and Chinese supply chains. After China-U.S. relations stabilize, U.S. multinational companies will regain confidence in investment and cooperation with China, which will help alleviate the problems of high reshoring costs, rising inflationary pressure, and supply chain fragmentation in the U.S. manufacturing industry.
For the development of the world economy, "benign stability with moderate competition" is both a "ballast stone" and a "propeller". Currently, the world economy is facing the dual dilemmas of insufficient growth momentum and anti-globalization. As the world's top two economies, China and the United States, the stability of their relations is itself the world's most important public good. Li Wei believes that sound and stable Sino-US relations will effectively reduce friction costs in the global economic and w88 system, stabilize the macro foundation of global industrial and supply chains, rebuild confidence in cross-border investment and international w88, and inject momentum into global economic recovery.
In the past, China’s exports were mainly low-cost consumer goods with low added value and weak brand influence. Now, China not only exports high-quality industrial products, but also exports complete industrial chain solutions, technical services and independent brands. The best example is China's leap from following to running alongside and leading in the fields of new energy vehicles, 5G communications, photovoltaics, and high-speed rail.
Liu Ying believes that Sino-US economic and w88 relations are undergoing a historic transformation. In the past, they were a typical "complementary relationship." But today, China has moved from "the world's factory" to a "global innovation and manufacturing power" in more and more industries. Sino-US relations have gradually shifted from "vertical division of labor" to "horizontal competition." This change is not a short-term phenomenon, but the result of the restructuring of the global economic landscape.
It should be noted that although the bilateral w88 volume between China and the United States in 2025 will fluctuate due to factors such as tariffs, the w88 structure continues to be optimized, and the proportion of China's exports of mid-to-high-end products to the United States continues to increase. At the same time, the United States still maintains its advantages in agriculture, energy, high-end service industries and other fields. The interdependence between China and the United States in economic and w88 has not changed, and there is still huge room for cooperation in competition.
“From a positive impact point of view, the economic complementarity between China and the United States has not disappeared, but has shifted from ‘vertical complementarity’ in the traditional sense to a higher level of ‘horizontal competition and cooperation.’ Chinese companies are not only competing with American companies in the domestic market, but also on a global scale, opening up new cooperation There is room for cooperation, and the two sides can form synergies in the formulation of cutting-edge technology standards and global market development. From a challenge perspective, the change in the situation has objectively caused strategic anxiety on the US side, leading to an increase in Sino-US economic and w88 frictions in recent years, and also means that the United States needs to face up to China's increasing competitiveness," Li Wei said.
Multiple measures: Eliminate the restrictive factors that affect the development of healthy and stable Sino-US economic and w88 relations
Currently, Sino-US economic and w88 relations still face many restrictive factors, including high tariff barriers, export controls, technological blockades, investment restrictions, geopolitical interference, etc., which seriously hinder the economic and w88 cooperation and healthy competition between the two countries.
In Wang Zhimin’s view, high tariffs are one of the core obstacles in the current Sino-US economic and w88 relations. Since 2018, the United States has imposed multiple rounds of tariffs on China, covering hundreds of billions of dollars in goods. China has been forced to take countermeasures, resulting in rising bilateral w88 costs, fluctuations in scale, and increased burdens on enterprises. At the same time, the United States promotes "small courtyards and high walls" w88 rules, rejects the multilateral trading system, and creates artificial obstacles for Sino-US economic and w88 cooperation.
In Liu Ying’s view, compared with the fields of science and technology, security and ideology, economic and w88 cooperation is still the area where China and the United States have the greatest common interests, the strongest market demand, the highest corporate voice, and the most realistic operating space. Especially in the context of the current slowdown in global economic growth, rising inflationary pressure, and intensified restructuring of supply chains, both China and the United States have a realistic need to stabilize economic and w88 relations.
“Currently, the large-scale tariffs imposed by the United States on China have actually become more and more like a ‘counterattack tariff’. U.S. consumers have borne a large amount of costs, U.S. companies' supply chain costs have increased, and Chinese export companies have also faced pressure. Ultimately, the industrial efficiency of both parties has been harmed. Therefore, priority can be given to establishing a tax reduction mechanism that is "phased, divided into lists, reversible but expandable" starting from areas such as consumer goods, agricultural products, industrial intermediates, and medical products. "Liu Ying said.
On the evening of May 16, the Ministry of Commerce announced the preliminary results of the economic and w88 consultations held by China and the United States in South Korea on May 13. Including implementing the results of early consultations, establishing a w88 council and investment council, solving or substantively promoting the resolution of non-tariff barriers and market access issues for some agricultural products, mutual tax reductions for some products, and promoting w88 cooperation in the field of aircraft and engines...
In addition to traditional economic and w88 fields, China and the United States can focus on exploring emerging areas of cooperation, expand common interests, and resolve competitive conflicts through cooperation.
Wang Zhimin believes that China and the United States can strengthen cooperation in new energy, energy conservation and environmental protection, carbon trading, green finance and other fields in green and low-carbon fields; in the field of digital economy, deepen cooperation in cross-border e-commerce, digital services, artificial intelligence and other fields. At the same time, we should expand common interests in the fields of agricultural science and technology, medical and health, financial services, people-to-people exchanges, and cooperation between local governments, so as to resolve competitive conflicts through cooperation and enhance the well-being of the two peoples.
In the latest round of economic and w88 consultations between China and the United States, the two sides have made breakthroughs in the field of agricultural products. The United States will actively promote the resolution of China’s concerns on the automatic detention of dairy products and aquatic products. China will actively promote the resolution of China’s concerns on the registration of beef facilities and the export of poultry meat from some states to China. In the future, the two sides can further deepen practical cooperation in aspects such as modern agricultural technology, food security, and mutual recognition of food safety standards.
“Exploring emerging areas of cooperation is an effective way to enrich the connotation of ‘new positioning’, make the cooperation cake bigger, and dilute the ‘stock’ of competition. For example, in terms of biomedicine and life sciences, my country’s pharmaceutical industry ranks second in the world, and the number of innovative drugs under research reaches the world’s About 30% of the total, and the United States has long been a leader in basic biotechnology research and drug innovation. Deepening cooperation between the two countries in new drug research and development, clinical trials, precision medicine, global public health and other fields can benefit the health of people in both countries and even the world, and contribute to global public health security," Li Wei said.
During Trump’s visit to China, he visited the Temple of Heaven. The Temple of Heaven carries the Eastern wisdom of a round sky and a square place, harmony and symbiosis, and provides profound inspiration for major countries to get along with each other. Eliminating barriers through integration and resolving competition through collaboration can not only consolidate the well-being of the people of the two countries, but also demonstrate the responsibility of major countries and jointly build a long-term win-win path.
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