Amid rising economic uncertainties, scholars are urging the United States and China to strengthen cooperation to safeguard global trade stability. Zhou Jianju, an assistant researcher at Zhejiang University's Institute of State System Research and School of Economics, emphasized that the world's two largest economies must 'pull together' to address shared challenges.
Economic Interdependence Demands Cooperation
Zhou highlighted how US-China trade volumes exceeded $690 billion in 2023, demonstrating deeply intertwined supply chains. 'Economic decoupling would destabilize markets worldwide,' he noted, pointing to recent fluctuations in semiconductor and renewable energy sectors during trade disputes.
Pathways for Collaborative Growth
The researcher identified three key areas for joint action:
1. Technological Innovation
Collaborative research initiatives in artificial intelligence and green energy could accelerate global decarbonization efforts while creating new market opportunities.
2. Climate Finance
Combined investments in sustainable infrastructure projects across developing nations could achieve dual climate and economic development goals.
3. Trade Policy Coordination
Zhou stressed the need for regular dialogue to harmonize standards and reduce tariff disputes, particularly in emerging sectors like electric vehicles and advanced manufacturing.
Navigating Challenges Through Dialogue
While acknowledging existing tensions, the analysis suggests pragmatic solutions through multilateral platforms like the WTO and APEC. Zhou concluded: 'Constructive competition must coexist with shared responsibility for global economic stability.'
