Updated on November 27, 2018
How to Improve the U.S.-China Relationship Now
China and the U.S relate on a range of issues especially because they are the two of the largest world economic powerhouses. Issues of security, climate change, and energy have created a bilateral relationship between the two countries, and there are many ways that they can improve their expanding relationships.
The drastic change in China’s economy
There is a drastic change in the economy of the world’s most populous country. China has shifted its focus towards a more consumption-driven growth from an export and investment approach. It is crucial for the United States to be aware of these changes. The spending of Chinese consumers is on the rise, although the economic growth is a little bit slow. This gives the U.S potential opportunities to foreign business. The US companies can access and should be the aim focus of the current and future US administrations.
The services sector in China has become the driver of its economic growth, something the US should pry open. However, entertainment, finance, and telecommunications are still dominated by state enterprises. As such, they are closed to foreign firms. Consequently, the US should relax its approach to Chinese incoming venture if China will relax access to these sectors. Both nations can benefit greatly from this move.
Climate Change: genuine bilateral cooperation
Climate change has become one of the genuine Sino-American bilateral cooperation. Both nations have developed substantial cooperative ventures in matters of clean coal technology as well as electric grid development. They also have side-by-side pledges aiming at the reduction of carbon emissions. The idea is to provide a good push to global climate change dialogues. As such, the leaders of both nations ought to use this as the anchor of their cooperation.
First, both countries should assess the achievements and botches of the last two-decade relationship and establish what works and who does not work. It is better to focus on the success of the projects that are currently underway between the two nations. Secondly, both countries are a source of foreign direct investments, and together with EU and Japan, they should have a framework for financing and investment that is in tandem with the best climate practices.
Thirdly, America and China should fulfill their commitments to climate change. However, there will be a burden of reducing the environmental protocols. Both countries have first to deliver home before they can deliver abroad. China and the US should also agree on the side, geographical distribution and purpose of their respective armed forces to prevent an arms race.