China-US cooperation – a need of the times
- By Wang Yiwei
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E-mail China.org.cn, September 22, 2015
China was an ally of the United States during World War II, and one of the creators of the initial post-war international order as well as a defender and beneficiary. As permanent members of the United Nations Security Council, China and the United States in recent times have cooperated well in dealing with the world's hot issues involving the Iranian nuclear issue and the Korean Peninsula nuclear issue, so there is no reason not to continue cooperating.
Nowadays, China is a major participant in development of the current international order. The number of international organizations it has joined and the treaties it has approved exceed those of the U.S. Almost all international affairs need the cooperation between two countries – from global climate change negotiations to the United Nations development agenda.
In the future, China also needs to work with the United States to promote reforms as part of a new international order. It is impossible for China to dominate this process and replace American global hegemony.
Since the reform and opening up, China has integrated into the U.S.-led international system. Today, however, this faces big challenges with the global-level trade and investment organizations, including WTO, declining in attractiveness. Regional cooperation and bilateral BIT and FTAs become the development trend.
China has also moved from the low-end to the middle-end and even high-end industrial chain. In this case, looking for new comparative advantages, it has put forward the "Belt and Road" Initiatives and the Asian Infrastructure Investment Bank (AIIB) which are useful supplements to the existing international order instead of a challenge.
Analyzing from the four aspects – scale, nature, function and channel – the "Belt and Road" Initiatives and the AIIB as well as the Shanghai Cooperation Organization Development Bank and the BRICS New Development Bank – all emphasize regional cooperation, regional prosperity and stability, reduction of terrorism, violence and other hot issues, which all meet American interests. Investments from American individuals, companies and governments are also welcome in them all.
Generally speaking, the world's two largest economies play an important role in the future trend of world order. During his U.S. visit, President Xi Jinping will explain the "Belt and Road" Initiatives to the international community and to the broad spectrum of American society. He will seek to promote decisive progress in bilateral investment treaty negotiations, and network and climate change cooperation. None of these challenge the U.S., but rather safeguard the common interests of the two countries.
Wang Yiwei is professor and director of the Institute of International Affairs of Renmin University of China.
This article was written in Chinese and translated by Li Jingrong.
Opinion articles reflect the views of their authors, not necessarily those of China.org.cn.
