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Business leaders from China and the US are expecting the meeting between Chinese President Xi Jinping and US President Donald Trump to deliver a positive message to the sluggish world economy, with analysts warning that Sino-US trade is not a zero-sum game.
Xi and Trump are scheduled to meet for the first time at the Mar-a-Lago resort in Florida on Thursday and Friday, where trade and North Korea are expected to top the agenda.
From China's perspective, "we don't think Sino-US trade is a zero-sum game, which means the US would gain from China's compromise. We believe that the best way to resolve the dispute is to make the cake bigger, which means, increasing cooperation so that both sides benefit more from the expanded cooperation," Diao Daming, a research fellow at the Institute of American Studies of the Chinese Academy of Social Sciences, told the Global Times.
The White House said economic and trade issues would be key topics at the meeting.
"Together, the US and China represent 40 percent of the global economy, and as the world's two largest economies, there's no greater or more consequential economic relationship. Indeed, our economies have become increasingly interdependent through growing trade and investment," and "there are significant trade and economic issues to discuss" between the two presidents during the meeting, Kenneth Juster, a US senior administration official, said on Tuesday.
However, the official also said Trump is very concerned about how the imbalance in our economic relationship affects US workers and "wants to address these issues in a candid and productive manner."
"President Trump will convey to President Xi the importance of establishing an economic relationship that is fair, balanced, and based on the principle of reciprocity," the official said.
Business optimism
Many Chinese companies see Trump's ambitious plan to rebuild US infrastructure as a huge opportunity. A statement sent by the SANY Group, a Chinese multinational heavy machinery manufacturing company, to the Global Times said, "Trump submitted his $1 trillion budget for infrastructure to Congress, and this will heat-up the machinery market."
US businessmen also hope economic and trade ties remain stable after the meeting.
William Zarit, chairman of the American Chamber of Commerce in China, told the Global Times that senior Trump administration officials are very familiar with the issues facing American companies in China, "perhaps more so than previous administrations." He added that he is confident the discussions would be productive.
"Compared to meetings between Chinese and US presidents in the past decade, this is the one that could draw the greatest international attention," Diao said.
China is the second largest economy and staunchest supporter of free trade and advocate against climate change, while the US, since Trump took office, has turned into the most uncertain great power for the global economy and governance, Diao said.
Apart from China and the US, countries, including those in the Asia-Pacific like Japan, Australia, North and South Korea, EU countries like Germany, and ASEAN countries involved in South China Sea issues like the Philippines, will all pay close attention to the Xi-Trump meeting, Diao added.
Joint solution
Aside from trade, North Korea is expected to be among the key topics.
Trump is a businessman and very proud of his "art of the deal," and this is a good example, Diao said. "Trump said the US will unilaterally strike North Korea's nuclear facilities, but China and the US understand that this is highly risky, and the US needs to bear the consequences if it acts unilaterally, so China won't be scared no matter what he says."
The US needs to understand that "we are not begging the US to solve any problem. Both China and the US need each other to jointly solve the issue," Diao added.
Jia Qingguo, Dean of the School of International Studies at Peking University, told the Global Times that "how disputes would be managed through cooperation is the top priority of the Sino-US relationship. Both sides should try their best to find common interests."
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