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Global Times: Three Signals from the China-U.S. Presidential Agreement

Global Times published a commentary immediately after the historic dinner that Chinese President Xi Jinping and U.S. President Donald Trump had in Argentina at the G20 Summit. The presidential agreement can be summarized as follows: one, no more escalation of the trade war; two, no increase of the U.S. tariff to 25 percent on January 1; and three, the two countries should speed up the negotiations on removing the current tariff. This outcome sends three concrete signals. The first is that China’s determination to defend its interests didn’t change; the second is that head of state diplomacy plays a critical role in the China-U.S. relationship; and third, China should remain calm when facing new challenges and should focus on solving internal problems. The commentary concluded that China is no longer the old China of 40 years ago. It is now the second largest economy in the world and no one wants to lose the Chinese market. However, there will still be tough days in the near future and China cannot take the upcoming challenges for granted.

Source: Global Times, December 2, 2018