On July 19th, the first round of U.S.-China Comprehensive Economic Dialogue (CED) was held in Washington. The leaders of the dialogue were U.S. Treasury Secreta

The first China-U.S. Comprehensive Economic Dialogue yielded no tangible results. But the two powers have plenty of room for agreement – if they can put their sense of exceptionalism aside.

Two major American car manufacturers, Ford Motor Company and Tesla, are moving ahead with plans in China that seem a direct challenge to President Donald Trump’s crusade to keep American manufacturing jobs in the U.S. Surprisingly, the companies seem to have met little resistance from the administration thus far.

it seems that the tough approach on the South China Sea was more a campaign strategy than a policy plan. Like previous administrations, the Trump team sees armed conflict between China and the US as a losing proposition for all sides, and issues of economy, trade and the South China Sea better managed by cooperation than confrontation.

As long as China continues to carry out its export-driven economic growth model through its strong state capitalism, then the U.S. business community will still have to face trade protectionism through non-tariff barriers, industrial policy, subsidies, and currency manipulation.

Despite years of protectionist polices put into action by its government, the American steel industry continues to flounder. As President Trumps launches a new protectionist agenda under the guise of national security imperatives, he continues to ignore the problems that truly plague U.S. steel.

The new rapprochement between Brussels and Beijing involves converging economic interests between Europe and China – and diverging strategic interests between Europe and America. While the shift was conceptualized as a reaction to a policy vacuum created by Trump, in reality, the ties between Brussels and Beijing have grown steadily since the 1990s, even when U.S.-Chinese ties have fallen under pressure.

As economic and trade relations between these two great nations evolves toward benign interaction, both countries should transcend the 100-Day Economic Plan and promote implementation of a post-100-day plan. In terms of broad prospects for cooperation, they should deepen industrial cooperation to promote the integration of a range of high-quality factors of production and innovative resources.

Traveling in each other’s company and benefiting each other should be the form and path to effective China-U.S. cooperation, as building a community of shared future for all mankind requires partners with shared objectives instead of fellow travelers who meet by chance and lack mutual trust.

Outcomes fromU.S.-China trade talks that were recently announced ignored the major structural issues facing U.S.-China economic relations. While a trade deal was produced, the major point of contention between the two countries, that they practice deeply divergent forms of capitalism, was ignored. In order to truly make progress on trade between the U.S. and China mutual understanding of the different dynamics driving the two forms of capitalism is needed.