Recently, Dai Qi, the representative of the United States, said in an interview with the BBC that the significant decline in the amount of the United States and China may be a positive development trend, reflecting that the relationship between the two sides is developing in the direction of diversification. In 2023, the volume of goods sales between the world's two largest economies plummeted by 17%, with U.S. imports from China falling by 20% and Chinese exports to the U.S. falling by only 4%.
Behind this change, the United States has launched a first-class investigation into Chinese-made cars, fearing that high-tech vehicles may infringe on personal privacy and have the risk of remote control. At the same time, the White House announced that it would take unprecedented measures against the import of Chinese cars in response to Beijing's restrictions on foreign car companies.
Against this backdrop, China's economy is facing challenges, and the two sessions focused on finding a way out of the troubled economy, including dealing with fierce competition in the new energy vehicle industry and slowing GDP growth. In addition, after China's **experience**, the Weibo of the U.S. Embassy in China has become an emotional sustenance place for netizens.
It is worth noting that many large U.S. companies have continued to decline in bilateral ** due to the impact of tariffs and production shifts. However, according to William Raines, an expert at the Center for Strategic and International Studies, a think tank, Chinese companies have circumvented tariff restrictions by shifting production to places like Southeast Asia and increased exports to the United States through third-party channels.
In this situation, Dai Qi stressed at the World Organization Ministerial Conference in Abu Dhabi that the WTO needs to be reformed to adapt to the current global economic pressure. The two countries led by the President and Biden are competing to expand their influence in Africa and Asia while the friction in the economic and trade fields is intensifying, and they are competing for the advantage of the chain.
WTO Director-General Oconjo Ibiana has warned that if the world were to become two blocs, it could lead to a loss of 5% of global GDP and substantial damage to the world economy. She said that the WTO is working hard to help China and the United States resolve their differences in order to maintain stable global economic growth.