Trump’s “America First” strategy and Xi’s “Chinese dream” are founded on a common premise: that the world’s two biggest powers have complete latitude to act in their own interest.
The US delegation asked China to reduce support for high-tech industries, allow US companies non-discriminatory access in China and cut the trade deficit by at least US$200 billion by the end of 2020 from 2018, according to a document seen by Bloomberg.
In terms of international diplomacy, Trump’s trade war will help China present itself as the defender of the rules-based international order and multilateral institutions such as the World Trade Organization.
The $1.5 billion oil pipeline that runs from Kyaukpyu to Kunming began operations last year, allowing crude supplies from the Middle East and Africa to reach China faster as shipments no longer need to be transported through the Straits of Malacca and the South China Sea.
The long-planned speech – marking 40 years after the first economic reforms transformed China – was being closely watched after Trump’s plan to hit hundreds of Chinese products with duties.