In an interview with CNN’s Fareed Zakaria, US President Joe Biden maintained his stance on competition with China while expressing optimism about reaching a “stable point” in bilateral relations. This comes after US Treasury Secretary Janet Yellen’s visit to China, which was described as “direct” and “productive.” Analysts predict that more high-level interactions between the two countries may occur in the coming months, but caution that a “stable but fragile” situation could easily be undermined by the US’s misguided perception of China.
During the interview, Biden acknowledged China’s ambition to surpass the US while acknowledging the potential for stable bilateral relations. Yellen’s visit further demonstrated the thawing of relations, with the US and China still at odds on several issues but making progress toward establishing a more solid foundation for future cooperation.
China’s Ministry of Finance described Yellen’s meetings as “candid, pragmatic, in-depth, and constructive” and expressed hope that the US would adopt a rational and pragmatic approach to implement the consensus reached by the two countries’ leaders in November 2022. The ministry called for bilateral relations to return to the right track as soon as possible.
Chinese analysts believe that Biden’s remarks and the recent increase in high-level interactions between China and the US may indicate a high possibility of a meeting between the heads of state during the Asia-Pacific Economic Cooperation (APEC) summit in November. They emphasized the importance of head-of-state diplomacy in guiding bilateral relations and stressed the need to create favorable conditions for a potential meeting at the upcoming APEC summit.
However, the analysts also noted that while interactions have increased between the two countries, the fundamental problems in China-US relations remain challenging to solve. They suggested that the Biden administration’s current efforts to stabilize relations are aimed at maintaining competition within a secure zone for the US’s own interests, rather than seeking breakthroughs or true cooperation.
Li Haidong, a professor at the China Foreign Affairs University, highlighted the anxiety and lack of confidence among US political elites, who fear being surpassed by China. He emphasized that China’s potential to surpass the US is determined by each country’s stage of development and cannot be prevented by certain US politicians.
The analysts warned that the wrong perception of China held by US political elites remains a central issue in bilateral relations. They noted that the Biden administration’s efforts to define the relationship as “competition” and the actions of anti-China politicians hinder progress and stability. The analysts called on the US to address China’s major concerns, including economic sanctions, trade restrictions, and the Xinjiang issue.
While Yellen’s visit demonstrated positive developments, some US media and politicians criticized her for being too accommodating toward Chinese officials. These critics hold the view that conflict between China and the US is inevitable, but analysts argue that this perspective does not align with the reality and future of bilateral relations.
Looking ahead, the experts anticipate more constructive interactions between China and the US, particularly in areas such as climate change. However, they stressed that achieving stability and preventing further deterioration of relations requires political wisdom and concrete actions from the Biden administration.