Improved relations between the two powers can’t mask age-old trade tensions. Better communication is important because the structural problem between them is insoluble.
Already a subscriber?Tension between America and China was so bad a year ago that Janet Yellen could not get permission to go there. Now the US Treasury secretary is a social media hit in China.when she got red carpet treatment — have not yielded U-turns in Beijing: America and Europe continue to suffer from China’s goods dumping.
In today’s US climate, even talking to China in a civil fashion marks you out for suspicion. This is true even if you are “disagreeing in an agreeable tone”, as Yellen does. This is also how Biden’s national security adviser, Jake Sullivan, interacts with Wang Yi, China’s foreign minister.These seemingly unproductive dialogues have nevertheless led to a gradual thaw in the US-China cold war. It is in the media’s nature only to notice when things go wrong.
Yellen has laid out such complaints to her counterpart, He Lifeng, to little avail. But from a global perspective, China’s actions look less egregious. America is also subsidising its EV and clean power sectors. Biden’s misnamed Inflation Reduction Act is a China-lite remedy for the same problem. The first of those includes fentanyl, which is killing hundreds of thousands of Americans and mostly comes from China. Mike Gallagher, chair of the hawkish House committee on the Chinese Communist Party, this week said that the CCP “wants more dead Americans”.
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