Xi-Trump summit marks breakthrough as China seen as ‘equal partner’, adviser says
Both countries are expected to keep working to reduce dependence on each other in strategic areas
[BEIJING] The summit between Chinese President Xi Jinping and his American counterpart Donald Trump was a breakthrough in bilateral relationship where the Asian giant was treated as an “equal partner” of the US, according to David Daokui Li, a regular policy adviser to Beijing.
“Among all the meetings between the two leaders, this one is perhaps the most important – really historical,” said Li, an economics professor at Tsinghua University and a former adviser to the Chinese central bank. “Fundamentally the most important progress for both sides is for the US to recognise China as equal partner to talk about things.”
Speaking to Bloomberg TV on Monday (Nov 3), Li described a sense of enthusiasm among his peers in Beijing following the leaders’ meeting in South Korea last week. The exchange led to a one-year trade truce, although it did not address core differences between the world’s two largest economies.
Still, Li expressed optimism that trade, financial and technological conflicts between the countries are “small potatoes” that will be resolved. More important, he said, the equal partnership will see the powers engage in “bigger talks” such as security issues concerning Ukraine, Taiwan, the South China Sea and the Middle East.
While details are still trickling out, the US and China came away from the gathering with a broad agreement spanning tariffs and export controls on critical minerals. The two leaders also agreed to “work together” to “get the war with Russia and Ukraine solved,” according to Trump.
The meeting stabilised ties but both countries are expected to keep working to reduce dependence on each other in strategic areas. The US, for example, will seek to rally allies and de-risk global supply chains, Treasury Secretary Scott Bessent said after the talks.
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In a possible sign that Chinese leaders are becoming more confident in the power competition with the US, Cai Qi, Xi’s chief of staff, wrote in an article published on Monday that China has “many favourable conditions to pro-actively manage its international space and shape the external environment.” BLOOMBERG
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