01 September 2015

Editorial: Rethinking the Obama-Xi Summit

By Joseph A. Bosco

How the U.S. might use the summit for a new “new model of great power relations.”

China-bashing is always in vogue during American presidential campaigns and the 2016 race is no exception.

In 1992, Bill Clinton famously excoriated President George H. W. Bush for “coddling the butchers of Beijing” (though Clinton also demonstrated later how a candidate’s tune can change dramatically once in office).

In this year’s large Republican field, Donald Trump is leading the anti-China rhetoric, lambasting Beijing’s currency devaluation, trade practices, and the spin-off U.S. stock market losses caused by China’s own financial and economic problems.

The role of basher-in-chief comes naturally to Trump, given his outspoken view that Chinese leaders out-smart, out-maneuver, and out-negotiate Washington at every turn. The Chinese are “clever” and “cunning” while U.S. leaders are “stupid” and “incompetent.”

His argument, partially supported by the facts, seems to be that while Beijing touts its “win-win” approach to China-U.S. relations, it always ends up one way: China wins-America loses. Even when the so-called brilliant Chinese leaders stumble and China actually seems to lose, we still don’t win. Intertwined as our economies are by globalization, China simply drags the rest of the world down with it. China’s stock market crash was quickly followed by historic declines in European and U.S. markets.

Read the full story at The Diplomat