With Donald Trump elected as the 47th president of the United States, the evolution of the China-U.S. relationship has become a hot topic of discussion. Regardless of who occupies the Oval Office, the bilateral relationship between China and the U.S. remains one of the world's most critical, impacting not only the two nations but also the global community.
Economically, China and the U.S. are two of the world's leading economic powerhouses, with their combined GDP accounting for over one-third of the global economy. Despite some anti-China narratives predicting a collapse, American businesses continue to invest and expand in the Chinese market, demonstrating a commitment to cooperation.
For instance, Apple launched its new flagship store in Shanghai this March, marking it as the second-largest store worldwide. Moreover, over 70,000 American firms are operating in China, with nearly 90 percent of these operations turning a profit. According to the 2024 China Business Climate Survey Report by the American Chamber of Commerce in China, these companies reported improved financial performance in 2023 with increased gains.
On the other hand, confrontational approaches are detrimental to all parties involved. The ongoing trade war has inflicted significant harm on the American economy without addressing the underlying issues that tariffs were meant to resolve. As Heather Long highlighted in the Washington Post, the U.S. has experienced slowed economic growth, frozen business investments, bankruptcies among farmers, and declines in manufacturing and freight transportation sectors since the trade war's inception in 2018.
In this context, adopting a pragmatic approach that emphasizes expanding trade ties with China is a wiser strategy for President-elect Trump, especially if his administration is genuinely committed to making America great again.
Reference(s):
cgtn.com
