The high-profile meeting between Chinese President Xi Jinping
and U.S. President Donald Trump in China's capital has been lauded by global institutions, experts
and media practitioners as a powerful boost to global economic recovery
and a positive signal for robust business opportunities.
"It's very important, of course, that the world's two largest economies are engaging at the highest level," Director of the International Monetary Fund's (IMF) Communications Department Julie Kozack said at a press briefing on Thursday.
Anything that helps reduce trade tensions
and uncertainty is good for the two large economies
and the global economy as well, Kozack added.
Tom Watkins, former advisor to the Michigan-China Innovation Center, pointed out that both Americans
and Chinese as well as world leaders do not like instability
and uncertainty, as investment flocks to predictability
and stability.
"It behooves our respective leaders to provide a solid playing field on both sides of the Pacific so all can prosper
and grow in peace," he said.
For instance, there is much room for the two countries to cooperate on artificial intelligence (AI) to ensure its safe
and beneficial use, as well as on green technology
and climate change, he added.
Bruce McLaughlin, CEO of Sinogie Consulting Group, Australia, noted that given the current international environment, global stability will increasingly depend on open, stable
and rules-based trade
and investment arrangements.
As the relationship between the world's two largest economies, China-U.S. ties impact not only bilateral trade
and economic exchanges, but also global market confidence
and the stability of industrial
and supply chains in the Asia-Pacific region, he said.
In this sense, McLaughlin added, this summit could provide a valuable window for countries
and businesses to strengthen economic cooperation
and improve supply-chain networks.
For countries
and companies, including those in Australia, stable China-U.S. relations can help reduce the costs caused by supply-chain fragmentation
and duplication,
and boost business investment
and market expectations, he stressed.
Trump's visit to China has drawn extensive international attention as Washington
and Beijing seek to stabilize bilateral ties amid ongoing geopolitical
and economic uncertainties.
Mohamadi Compaore, a senior Ivorian journalist
and publication director of the newspaper La Diplomatique d'Abidjan, expressed belief that improved cooperation between Beijing
and Washington could help stabilize the global economy, secure supply chains
and ease volatility in international commodity markets, thus becoming beneficial for many African economies reliant on raw material exports.
The evolving China-U.S. relationship may also create new opportunities for Africa in sectors such as infrastructure, energy, mining
and manufacturing, said Compaore, noting that increased economic competition
and cooperation between the two major powers could encourage greater investment
and stronger strategic partnerships across the African continent.
Wilson Lee Flores, a columnist for the English-language daily The Philippine Star, said that the Asia-Pacific region benefits when major powers compete economically but cooperate strategically to preserve peace.
For many developing nations, including the Philippines, constructive China-U.S. relations would lessen uncertainty
and encourage investments, tourism, educational exchanges, scientific cooperation,
and regional growth, he said, adding that a calmer China-U.S. relationship would help regional manufacturing, semiconductor industries, logistics, agriculture exports,
and investor confidence.
Trump wrapped up a state visit to China on Friday, the first U.S. presidential visit to China in the past nine years
and his second since November 2017.
Editor:Evan
