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How the greater bay areas of China and the US can pave the way for trade cooperation
Patrick Ho says the world’s two biggest economies must find common ground to move beyond their recent trade disputes. Why not look towards economic clusters like the Greater Bay Area of Guangdong, Hong Kong and Macau to lead the way?
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US President Donald Trump will make his first trip to Asia that will also include a state visit to China in early November, a time when the 19th Communist Party congress will have ended and Chinese President Xi Jinping can devote more effort to Sino-US relations.
Trump may also need some diplomatic breakthroughs to divert public attention at home from his domestic stalemates and rally support for his leadership. Therefore, it is widely expected that the meeting will be focused and productive, perhaps generating more fruitful results than the Xi-Trump summit at Mar-a-Lago half a year ago.
Among the spectrum of common concerns, North Korea and trade will no doubt be the most challenging issues on the table. There are high hopes that some progress can be made, as it would help strengthen the momentum for bilateral cooperation and mutual trust. However, it is unrealistic to expect these chronic issues to be solved overnight.
To ensure the summit’s success, the agenda is likely to also include issues that have feasible solutions. Over the past eight years, Beijing and Washington have zeroed in on climate change as a shared concern. Nevertheless, with climate change losing its priority on the White House’s agenda, China and the US need to look for new common ground.
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