In this article courtesy of the BBC, President Trump has met
with Chinese President Xi Jinping on November 10th to discuss world
trade at the Apec summit at Vietnam. Apec, or the Asia-Pacific Economic
Co-operation meeting hosts 21 different economies and 12 nations representing
60% of the worlds GDP, making it an obvious platform for economically
influential states to express their visions, aspirations, and concerns. Of
which, Trump and Xi both expressed two differing opinions on the state of world
trade. Looking at Trump’s stance, we see him emphasizing his America first
policy, stating “the US would no longer tolerate ‘chronic trade abuses,’” pointing
out the US trade deficit with China as a primary example. Rather, Trump spoke
about a fairer global trade environment, stating that the WTO “cannot function
properly” if all members do not respect the rules. I found this humorous,
especially since the USA has a history of defying the WTO. Xi on the other hand
championed globalism as an “irreversible historical trend” which needed to be principled
in a way to become “more open, more balanced, more equitable and more beneficial
to all,” as he finds multilateral trading and regionalism more beneficial,
especially for developing countries. Overall, through these statements we can
see the different philosophies these leaders bring to the table, one sponsoring
world trade under America’s terms, and the other proposing a connected and comprehensive
globalized system which recognized value in regional trade. As the Chinese
economy continues to grow it will certainly be interesting to witness what
larger role China will fill on the world stage.
Aric Laatz
http://www.bbc.com/news/world-asia-41937426
No comments:
Post a Comment