Sunday ,1 August 2021 (YJC)_ A former United States ambassador warned during a webinar that any missteps by China, U.S. could plunge the world into unprecedented crisis.
"The sharp plunge in the bilateral US.-China relationship to the lowest depths in half a century has created a dangerous situation, where missteps by either side or by both could plunge the world into an unprecedented crisis," a former United States ambassador warned during a webinar on Friday.
The webinar, held by Center for China and Globalization, gathered a group of senior officials and scholars to share insights on the development of the most eye-catching bilateral relations between China and the U.S.
"A starting point to understanding what has happened is to recognize that the United States and China are both in the midst of fundamental transitions that affect their respective places," said J. Stapleton Roy, who served as U.S. ambassador to China from 1991 to 1995.
He said the U.S. was confident for much of the last 50 years but now is seeking to adjust to an international situation, in which it is no longer the sole superpower, as other countries have risen to major power status. "China, of course, is the first and foremost example of that a new multi polar world is emerging."
Roy warned confrontations between China and the U.S., which are also two major nuclear powers, are particularly dangerous. "Repair work by both sides is vitally necessary … as the first step, it would be useful for both China and the U.S. to tone down their rhetoric toward each other."
Adam Posen, American economist and president of the Peterson Institute for International Economics, pointed out focuses should be put on non-economic issues.
As both the U.S. and China have led the world in recovery from the COVID crisis and are both growing well above-trend growth rates, "this is not a question of either is depriving the other of economic recovery," he said, noting there are no issues of currency conflict, Chinese surplus coming at U.S. expense, or financial instability being promoted from one to the other.
Climate change is "the biggest opportunity for collaboration between China and the U.S.," Posen said.
Roy also pointed some other non-economic issues where China and the U.S. could enhance cooperation, citing the recent meeting between Chinese State Councilor and Foreign Minister Wang Yi and the U.S. Deputy Secretary of State Wendy Sherman.
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