by Terresa Monroe-Hamilton | November 11, 2017 1:58 pm
President Trump has pulled off a financial miracle in China. He is returning with over $250 billion in business deals between our two countries. China thinks it is miraculous as well. On his final day in Beijing, Trump and China’s President Xi Jinping oversaw a ceremony in which corporate giants such as Boeing and Qualcomm signed multibillion-dollar deals. “This is truly a miracle,” China’s Commerce Minister Zhong Shan said at a news briefing in Beijing. I call that a thawing of relations and very positive.
Don’t get me wrong, I still don’t trust the Chinese. I never well. But it looks like Trump has found a middle ground of true compromise on a business level. The Chinese respect someone who knows how to deal and shows the proper respect and deference, while still being strong in his own right. Trump says that he is looking forward to a change in the U.S.-China relationship. “Discussing trade … knowing that the United States really has to change its policies because they’ve gotten so far behind on trade with China and frankly with many other countries,” he said.
“And I have great respect for you with that because you’re representing China. But it’s too bad that past administrations allowed it to get so far out of kilter. But we’ll make it fair and it’ll be tremendous to both of us,” said President Trump. He went out of his way to placate the Chinese and walk that middle path. “Both the United States and China will have a more prosperous future if we can achieve a level economic playing field. Right now, unfortunately, it is a very one-sided and unfair one. But — but I don’t blame China,” he said. “After all, who can blame a country for being able to take advantage of another country for the benefit of its citizens? I give China great credit,” he said.
Many attacked the President for that statement, calling it a backtrack on his strong stance concerning the Chinese. I do not see it that way. This is a form of diplomacy the Chinese recognize and respect. Trump allowed them to be right while still stating that we must change the way we deal with China. This is the heart of the geopolitical dance between leaders and Trump pulled it off flawlessly here.
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President Trump is adamant that good business relations can create peace between countries and he is correct, as long as said countries play by the rules. “The contributions of the business community represented here today are vital to our efforts to ensure peace and prosperity for our two nations. Together, we can unlock a future of opportunity, wealth, and dignity far beyond anybody’s wildest dreams,” he said.
CNN is saying that China could invest as much as $100 billion in two U.S. energy projects. That is a massive investment. The China Energy Investment Corp. agreed to a 20-year $83.7 billion investment in shale gas developments and chemical manufacturing projects in West Virginia. And that agreement was not part of this trip’s negotiations as I understand it. “The massive size of this energy undertaking and level of collaboration between our two countries is unprecedented,” West Virginia Secretary of Commerce H. Wood Thrasher said in a statement, according to Reuters. Another deal will take place between China Petroleum & Chemical Corp. and the Alaskan government. They will jointly develop the state’s liquified natural gas industry in a $43 billion project that Alaska says will create up to 12,000 jobs. Sarah Palin must be smiling over this development.
Qualcomm signed agreements worth $12 billion with Xiaomi, OPPO and Vivo, three Chinese handset makers. Boeing scored bit with the sale of 300 Boeing jets to state-run China Aviation Suppliers in $37 billion deal. All of this could potentially start a new, vibrant trade relationship between our countries.
“Generally, the sense was that this is all a good thing and that’s great,” said Gentry Sayad, a Shanghai-based lawyer who attended the trade delegation event in Beijing. “Now let’s see what really happens and whether or not the agreements signed during this trip can become a basis for a better bilateral trade relationship going forward.” It is a very good outcome to a very profitable trip for the President. He’s not getting nearly enough credit for what he has accomplished in this trip.
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