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US – China cooperation boosts economic growth
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US – China cooperation boosts economic growth.Wu Jianmin, Former President of China Foreign Affairs University; Member, Berggruen Institute’s 21st Century Council, 3/31/2016, “HERE’S WHAT’S ON THE TABLE FOR THE CHINA-U.S. RELATIONSHIP THIS YEAR”, Huffington Post, http://www.huffingtonpost.com/wu-jianmin/china-us-relationship-2016_b_9568060.html On Jan 27, when President Xi Jinping met with Secretary of State John Kerry in Beijing, Xi pointed out: “I’ve emphasized several times, when China and U.S. strengthen cooperation, we can do big things for the benefit of the world.” President Xi is right. Look at the Paris Climate Change Agreement, the Iranian nuclear deal and the U.N. Security Council’s resolution on North Korea — China-U.S. cooperation played a pivotal role in each. Sluggish economic growth is a major issue facing both China and the U.S., as well as the rest of the world. If we want to give a strong boost to economic growth, we must, first of all, further grow China-U.S. cooperation. US China relations key to economic stability and conflict resolutionWhyte 15 (Leon Whyte, second year master’s candidate at the Fletcher School of Law and Diplomacy at Tufts University as well as the Senior Editor for the Current Affairs section of the Fletcher Security Review, May 26, 2015, “US-China: Mutually Assured Economic Destruction?” The Diplomat, http://thediplomat.com/2015/05/u-s-china-mutually-assured-economic-destruction/ HY) Angell’s work can provide insight into the possibility of conflict between the United States and China. According to a 2011 RAND study, conflict between the United States and China would likely lead to a global contraction greater than the one that occurred in 2008. For the United States, the economic losses would likely be even higher given the interdependent nature of the U.S.-Chinese economies. In 2014, total U.S.-China trade was worth &592 billion, China was the United State’s second largest trading partner, third largest export market, biggest source of imports, and the largest foreign holder of American debt, with $1.24 trillion worth of U.S. Treasury bonds in December 2014. According to Angell’s theory, if the United States cares about prosperity, it should avoid a war with China, from which it can only suffer economic losses. This potential for economic loss can act as a deterrent for both the United States and China, so the United States should not consider reducing economic dependence on China as a way to increase its own security, as some pundits have suggested. Beyond economic ties between the United States and China, the United States should encourage China’s further integration into the world economic system. The United States should not oppose Chinese efforts to join, or create, multilateral economic institutions, such as the new Chinese led Asia Infrastructure Investment Bank. In addition, the United States should not attempt to persuade allies from increasing economic ties with China, as it will reduce the chance of an ally dragging the United States into a war with China. It would be hard to find anyone in either China or America who would argue that a conflict would increase prosperity. Both economies are too big to fail without having severe effects on the entire international economic system. Because of this, there exists a state of mutually assured economic destruction between the two countries. Despite this, as John Mearsheimer point out, states value security over economic prosperity, because without security they cannot ensure their survival. This is not to say that the United States should break its economic ties with China, or try to slow China’s economic growth. That would hurt the United States economically and would have little utility for increasing security. In addition, the more economically integrated China and the United States are, the higher the cost is for China to challenge the current system, reducing the chance of war. However, if China perceives that it can benefit from conflict with the United States, China’s action will be the same whether its perception is correct or not. Download 357.18 Kb. Share with your friends:
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