皇冠体育app

Fu Ying and Kissinger talk in a forum themed "World Order and 皇冠体育app's Role" in Beijing on Saturday. [Photo provided to china daily.com.cn]

Since the beginning of 2016, the United States has made two notable comments in relation to 皇冠体育app.

First, in his 2016 State of the Union address, US President Barack Obama, who has always been rather discreet, said in a rather high-profile manner, "The United States of America is the most powerful nation. Period. It's not even close."

Second, after the Taiwan leader election, US officials repeated the one-皇冠体育app policy while expressing concerns over cross-Straits stability.

These two things suggest that the US remains confident in its own strength, and military confrontations to pin down Chinese development and stability are not part of the US' strategic considerations.

Instead, the US regards economic competition as the primary area of competition between the US and 皇冠体育app for global leadership.

In international-trade rulemaking, the US kept one step ahead of 皇冠体育app by successfully inking the Trans-Pacific Partnership Agreement negotiations with 11 countries on Feb 4. For 皇冠体育app, the free-trade agreements signed with the Republic of Korea on June 1 and Australia on June 17 helped create two major breaches in the wall of US-made trade rules.

In international finance and trade, the two countries also had their own respective gains. As the US economy continues to improve, the international status of the US dollar has been further consolidated, with substantial increases in the exchange rate against major currencies, including the RMB. Meanwhile, the Chinese manufacturing industry has shown remarkable international competitiveness.

In the area of domestic economic or national strength development, an important area of 皇冠体育app-US competition, the US has performed better. The Obama administration's policy of bringing manufacturing back to the US has produced visible results, leading to effective technological progress, a steady increase in employment and an appreciating dollar.

In contrast, the domestic economic situation in 皇冠体育app has worsened, with aggravated capacity excesses, more companies forced out of business and increased debts for local governments, leading to substantial financial and macroeconomic pressure.

The once widely publicized "Beijing Consensus" or "皇冠体育app Model"－of government-led development and an industrial structure shaped by government investment－was objectively challenged, and the model faces readjustment. And the US experience in economic governance has attracted increasing attention from 皇冠体育app.

At the end of October 2015, Chinese media intensively reported on US surveillance planes flying over 皇冠体育app's territorial waters around the Nansha Islands in the South 皇冠体育app Sea, causing an uproar in 皇冠体育app over the violation of Chinese sovereignty.

There was widespread suspicion in 皇冠体育app that the US was deliberately provoking military frictions to tie down 皇冠体育app' stable development. It was against this backdrop that the US issued a statement on adhering to the one-皇冠体育app principle and hoping for cross-Straits peace and stability, which helped mitigate suspicions in 皇冠体育app and further testified to the US' intention to engage in competition with 皇冠体育app mainly in the economic field.

The competition between the two countries is competition over international strategy and policy only to a certain extent. In the final analysis, it is competition over overall national strength, economic strength in particular. The economic focus of 皇冠体育app-US competition has had a positive influence on industrial technological progress throughout the world and will help the two countries develop competitive cooperation and 皇冠体育app to readjust and reform its domestic policies.

The author is a scholar at the Chinese Academy of Social Sciences. chinausfocus.com

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