Page 10 - The SouthChina Business Journal
P. 10
VER STORY

China-US economic
ties start the new year
with hope for thawing

trade issues

By James Eric (Jay) Black

In February 1784, one of the world’s newest Xi said that during that meeting Biden
countries sent a trading ship to one of the and he laid out a future-oriented "San
Earth’s oldest civilizations. 230 years later, the Francisco vision", charting the course for the
United States and China are deeply intertwined, development of China-US relations.
forging one of the most consequential
relationships in the history of the world. Xi, in his anniversary message, said both
countries have "weathered the storms
January 1, 2024 marked a milestone in and moved forward in general", which has
international trade. On this date, President Xi enhanced the well-being of their peoples
Jinping and President Joe Biden exchanged and contributed to world peace, stability and
congratulatory letters on the 45th anniversary of prosperity, The Chinese president added that
the reestablishment of our bilateral relations. The China and US forming ties was "a major event"
two heads of state attached great importance to in the history of bilateral relations and in
the historic significance of the event, spoke highly international relations.
of the achievements in US-China relations, and
expressed readiness to continue to stabilize and The two sides expressed that the China and
develop the relationship. US economic and trade area far outweigh their
disputes, and hope to strengthen dialogue
Xi called on China and the United States to and communication to help enterprises solve
earnestly implement the important common different issues in cooperation and explore
understandings and outcomes reached by the potential. Xi said the relationship between
two heads of state, and take concrete actions China and the United States “has overcome
to promote the stable, healthy and sustainable difficulties and advanced overall, benefiting
development of China-US relations. not only the two peoples, but also peace,
stability and the prosperity of the world.”
Relations between the two countries seem to be
warming over the past few months after period Biden said in his message that since the
of hostilities due to trade tensions, technological establishment of diplomatic relations in
competition and new episodes of mutual sanctions, 1979, contacts between the US and China
among other issues. A bright spot in China-US have fostered prosperity and opportunities
relations occurred toward the end of 2023 when for the US, China and the entire world.
Chinese President Xi and US President Biden held The US president pledged to “responsibly
a meeting in San Francisco on the sidelines of the manage” relations and said he hoped to
Asia-Pacific Economic Cooperation summit. Biden “continue advancing ties between the US and
administration officials held visits and meetings China based on the progress made by his
with their Chinese counterparts soon after. predecessors and their many meetings.”

7 AMCHAM SOUTH CHINA
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