Verbatim Mac
US/China relations low now over territorial dispute, despite Paris deal
Download 357.18 Kb.
|
High Speed Rail Affirmative Politics Elections Link Turns UTNIF 2012
US/China relations low now over territorial dispute, despite Paris dealWharton Business 6/9 (Wharton School of Business at U Penn, info collab by NYU and Wharton, “US China Dialogue: Can the Two Countries Find Common Ground?,” Knowledge at Wharton, 6/9/2016, http://knowledge.wharton.upenn.edu/article/u-s-china-dialogue-can-two-countries-find-common-ground/) KC The recent U.S. calls for China to stop flooding the global markets with excess steel and tensions over the South China Sea have strained relations between the two countries. “Excess capacity has a distorting and damaging effect on global markets,” U.S. treasury secretary Jack Lew said on June 6 in Beijing, as part of a delegation that secretary of state John Kerry led to China. A common ground seemed immediately out of reach for the two countries, as they engaged in the eighth round of the U.S.-China Strategic and Economic Dialogue. That position is distinctly different from the cooperative spirit they demonstrated with their joint agreement on combating climate change in November 2014. No respite is immediately visible in terms of resolving the disputes on how China tackles its overcapacity or over the South China Sea, according to experts at Wharton and New York University. The disputes actually seem to make sense for select interest groups in both countries, the experts said. In the U.S., China is a useful scapegoat in the presidential election season’s rhetoric. Similarly, for China, increased military spending to boost its presence in the South China Sea is a useful diversion from its economic downturn, overcapacity and unemployment. According to Wharton management professor Minyuan Zhao, the U.S.-China agreement on combating climate change could have created a new phase in the relationship between the two countries. However, soon after that agreement, China’s economy began to go downhill, and it had “lot of burning concerns” that needed to be urgently addressed, she said. “[That called for] fire-fighting first and economy-building later.” At the same time, both the U.S. and China have accused each other of maintaining a provocative military presence in the South China Sea, said Ann Lee, adjunct professor of economics and finance at New York University. The ostensible reason is to guard economic interests in the area, in addition to an assertion of territorial rights. About $5 trillion worth of trade passes through that maritime route annually, as a recent Knowledge@Wharton article noted. Trade relations between China and other regions in the country have also been thriving. Download 357.18 Kb. Share with your friends:
|