Powerful Communist Party-owned newspaper People’s Daily on Thursday called Trump’s visit an “historic opportunity to boost cooperation between the world’s two largest economies, and a chance to tackle the problems that dampen bilateral ties.”
That comment came a few hours after People’s Daily on questioned if the U.S. is still “the world’s role model,” and suggested that Beijing is “a new role model for political and economic development.”
“… whether or not the U.S. actually remains a good role model for the world, people increasingly believe that the U.S. is, at the very least, no longer the world’s only role model. This is in part because of the decline of the U.S. and, in part, because of the rise of China,” the People’s Daily op-ed said.
After all, the Chinese Communist party lifted hundreds of millions out of poverty and created a burgeoning middle class.
“At the same time, China is helping other countries rise with game-changing initiatives such as the Belt and Road. The reality is that China is moving forward and closer to center stage,” said the editorial.
“Meanwhile, the U.S. appears to be turning toward isolationism and protectionism. All of which, of course, means that China can light the world too,” it added.
Despite the righteousness, China appeared to made some concessions on Thursday when China’s Commerce Ministry said the country will lower tariffs and step up bank financing to support more imports and narrow its massive trade surplus, Reuters reported.
On Thursday, the foreign ministry’s Hua reiterated another government pronouncement, saying China “has never intended to pursue trade surplus.”
She also highlighted a 20 percent increase in China’s imports from the U.S. from January to August — which was higher than the growth of total China-U.S. trade volume and China’s exports to the U.S.
One area of potentially increased cooperation between the two economic giants is energy.
“Compared with China’s established natural gas suppliers like Russia and Australia, U.S. gas may be more expensive due to its higher transportation costs. But besides giving a political boost to the Trump administration, the Sino-U.S. energy deals should also make good business sense for both sides to boost energy trade in the long run,” Communist Party-linked Global Times said in an editorial.
Trump will be accompanied by a trade delegation during his trip to China, and multiple deals are expected to be brokered.
