The two Presidents agreed to resume negotiations.

In the current China-US trade war, some see an analogy to the Japan-US trade dispute over semiconductors in the 1980s. But past US success does not augur victory in the present conflict over 5G tech—today’s China is far more capable and innovative than 1980s Japan.

The passage of the Foreign Investment Risk Review Modernization Act in August 2018 has severely curtailed China backed venture capital in Silicon Valley, and the trade tensions are only making it worse.

In updating its Foreign Investment Law, Beijing makes clear its continued commitment to improving China’s business environment. Indeed, China is pushing back on the global trend of “deglobalization.” Nonetheless, Beijing must take into account new US restrictions based on national security.

To make America great again—or “keep America great,” as Trump’s reelection slogan goes—in plain language means effectively strengt

American multinationals may like the idea of forcing China to alter the policies and practices – from subsidies for state-owned enterprises to the requirement that foreign firms share proprietary technology in exchange for access to the Chinese market – that place them at a competitive disadvantage. But, as US President Donald Trump’s trade war continues to escalate, it is worth asking: What price are these companies really willing to pay?

Blinded by a surging stock market and a 50-year low in the unemployment rate, few dare to challenge the wisdom of US economic policy. Instant gratification has compromised the rigor of objective and disciplined analysis. Big mistake. The toxic combination of ill-timed fiscal stimulus, aggressive imposition of tariffs, and unprecedented attacks on the Federal Reserve demands a far more critical assessment of Trumponomics.

Since its inception, the Shanghai Cooperation Organization (SCO) has been criticized for lacking direction and enforcement power. Yet, the SCO still has a place as a discussion forum for top leadership in the region. We must reevaluate our expectations for the SCO and recognize that the creation of a discussion forum is a success in its own right.

In a trade war between two of the world’s largest economies, there are no winners. The U.S.-China trade spat will have spillover effects, with severe consequences for not only Asia, but the rest of the world.

The benefits of Sino-US trade—new jobs, more efficient division of labor, an engine for the world economy—have seemingly been forgotten. But all is not lost. If China and the US can reconnect, new opportunities beckon: in infrastructure, energy, tech, climate change, and beyond.