"Before arriving for his high-stakes summit with Chinese leader Xi Jinping, United States President Donald Trump aimed to set expectations high. He said he would urge Xi to open up China's economy and announced a delegation of top business executives, including Tesla's Elon Musk, Apple's Tim Cook and Nvidia's Jensen Huang, to accompany him."
"While Trump and Xi are anticipated to extend the one-year pause in their trade war agreed to in South Korea in October, the prevailing outlook is a stabilisation not revitalisation in ties between the world's two largest economies, which are locked in a rivalry that spans everything from trade and artificial intelligence to the status of Taiwan."
"It is important to be clear-eyed about the state of relations here, Claire E Reade, a senior counsel at Arnold & Porter who previously worked on China at the office of the US Trade Representative (USTR), told Al Jazeera. China does not trust the US, and China wants to beat the US in what it sees as long-term global competition, Reade said. This limits what can be agreed."
"In a prerecorded interview with Fox News that aired on Thursday, Trump said that China would invest hundreds of billions of dollars in companies run by the CEOs in his delegation, without providing further details. Trump said that Beijing had also agreed to buy US oil and 200 Boeing aircraft. Trump administration officials have also indicated that China will increase purchases of US agricultural products and work to establish a Board of Trade to manage investments between the countries."
The US president planned a high-stakes summit with China’s leader and sought to raise expectations by urging China to open its economy. A delegation of major business executives accompanied him, including leaders from Tesla, Apple, and Nvidia. Observers expected only modest progress, with a likely extension of a one-year pause in the trade war agreed in South Korea. Relations remain constrained by mutual distrust and long-term competitive goals, spanning trade, artificial intelligence, and Taiwan. The US side flagged potential business deals, including claims of large Chinese investment in companies led by the delegation, purchases of US oil and Boeing aircraft, increased agricultural purchases, and a proposed Board of Trade to manage investments. Xi also signaled positions during the meeting.
Read at www.aljazeera.com
Unable to calculate read time
Collection
[
|
...
]