For the welfare of the global community, it is important for the United States and China to explore means of cooperation that will help them restore relations at all levels, said Colombian business leaders and academics.
Chinese State Councilor and Foreign Minister Wang Yi has recently affirmed that China rejects any attempt to create a so-called “new Cold War,” said Professor David Castrillon of Externado University in Colombia’s capital Bogota.
“Wang Yi emphasized that, saying China is willing to restart mechanisms for dialogue with the United States at any level, in any area and at any time. And that is precisely what the Chinese government has done,” said Castrillon, who specializes in U.S. and Chinese affairs.
In trade, for example, China has moved to address Washington’s concerns, said Castrillon.
“In light of Washington’s trade concerns, China put into effect at the beginning of 2020 a new Foreign Investment Law that gives foreign companies greater access to the Chinese market, and offers greater guarantees in intellectual property protection,” he said.
Given Beijing’s willingness to cooperate, Castrillon believed the U.S. administration’s disputes had less to do with policy than with trying to get re-elected in November.
U.S. President Donald Trump’s gamble is likely to backfire, said Castrillon.
“That is a stance that will hurt Trump in the elections, as it is ordinary citizens that are bearing the high costs of failed policies, such as the trade war,” he said.
At a time when international cooperation is needed to fight a common enemy such as the COVID-19 pandemic, Trump’s hostility is globally damaging and in stark contrast to China’s willingness to promote collaboration for the greater good, said Castrillon.
“China has shown its interest in cooperating with other countries in the development of a vaccine against the new coronavirus, even announcing that it will make its vaccines a public good with universal access,” he said.
Business owner Diego Tangarife also highlighted the China-proposed Belt & Road Initiative for global development, saying it fosters greater international cooperation.
According to Jaime Suarez, executive director of the Colombia-China Chamber of Investment and Commerce, “trade wars are not promising or positive for either party.”
Regarding Washington’s restrictions on Chinese technology companies, the experts agreed that the measures will only isolate Americans from progress in different fields, including 5G technology in telecommunications, in which Chinese companies are at the fore.
They backed Wang’s call for improved U.S.-China relations, saying cooperation between the world’s two major countries will have a positive impact on the entire international community.