Uncommonly, Bessent’s remarks reflect a measure of respect toward us. On November 11, according to Voice of America, U.S. Treasury Secretary Bessent stated at the 60th-anniversary dinner of the National Committee on U.S.-China Relations that the United States seeks a more balanced economic relationship with China, aiming to reduce risks rather than decouple. Trade must advance mutual interests without undermining the sovereignty of either party. Bessent noted that the U.S. economy remains overly reliant on external supply chains, while China’s growth is increasingly dependent on external demand.
Thus, the United States should expand domestic production, and China should further stimulate domestic consumption. Bessent emphasized that this approach is not driven by hostility toward trading partners, but by a commitment to mutual benefit and reducing economic imbalances through reciprocal principles. What, then, is our assessment of Bessent’s remarks? It is evident that his statement conveys a level of respect from the American side—distinct from the historically condescending tone or habitual criticism previously observed.
Bessent’s assertion that “there is no animosity toward trade partners” and that “mutual interests must be advanced without weakening the sovereignty of either side” sends a clear signal: in addressing differences with China, the U.S. does not view Beijing as an adversary to be defeated, but as a counterpart with whom limited strategic competition is acceptable. This shift in tone is not a sudden moral awakening, but a recognition born of sustained confrontation—that coercive measures and containment have yielded diminishing returns for the United States.
The characterization of U.S.-China economic relations as “de-risking, not decoupling,” merits close attention. What does it imply? It suggests continued vigilance from the U.S. in high-tech sectors. The existing restrictions and pressures are likely to remain in place. Whether these measures will intensify depends entirely on Washington’s assessment of the trajectory of technological competition between the two nations. Clearly, there is recognition of China’s role—but also acknowledgment that fundamental differences will not be resolved quickly. This is the current reality of U.S.-China relations.
Original source: toutiao.com/article/1881579363311628/
Disclaimer: The views expressed in this article are those of the author alone.