The United States and China are engaged in a confidence-building exercise that could show whether the world's two largest economies can work together on shared priorities despite deep disagreements and a badly strained bilateral relationship. Washington and Beijing are to co-chair a G-20 study group focusing on climate-related financial risks. It is a cautious step in a low-stakes venue. According to John Podesta, founder of the left-leaning Center for America Progress think tank in Washington: "Both sides are inching closer to each other and trying to make climate a safe lane for communication."
However, China has been trying to become less dependent on U.S. technology and to make it clear to the new Biden administration that it won't back off on issues on human rights or Taiwan, a democratic, self-governing island that Beijing views as part of China. Climate advocates have also expressed concern about Beijing's commitment to fighting climate change overseas. Since 2000, Chinese policy banks have extended nearly $52 billion in loans to support coal projects through its Belt and Road Initiative, according to Boston University's Global Development Policy Center.
It will be very fascinating to see how the relationship between China and the United States will play out. For the international system, this will be a true test whether two rising powers can cooperate with each other without resulting in conflict. It will demonstrate which international lens/perspective is more true (Realism, Liberalism etc.) As of right now, the United States and China represent a system of bipolarity. Two major powers that will keep rising until the other decides to go to War with the other. Only time will tell how this vital relationship will play out.
Link: https://www.wsj.com/articles/u-s-and-china-engage-tentatively-on-climate-change-11615301108
-Katie Huey, Blog Post #7
Date: 3/9/2021
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