Top representatives from the United States and China are arranging to resume talks next week to try to resolve a year-long trade war between the world’s two largest economies, Trump administration officials said on Wednesday.

Both China and the United States should make compromises in trade talks, Chinese Vice Commerce Minister Wang Shouwen said on Monday, ahead of a much anticipated meeting between the Chinese and U.S. presidents at this week’s G20 summit in Japan.

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.

In recent years, China has shown restraint and cooperation in working with America. But US leaders must realize that China’s history of resisting external pressure means it will never abandon its development path to please another country.

Just when a trade agreement between the United States and China appeared to be in sight, negotiators found themselves back at square one. The immediate reason for the disruption was China’s insistence on a substantially rewritten draft agreement, which, according to US President Donald Trump’s administration, reneges on previously agreed terms. But the root cause of China’s changes to the draft – the reason behind its reluctance to meet US demands – lies in a fundamental miscalculation by the Trump administration.

Considering the Sino-US trade war to be a mere quibble over tariffs and deficits misses the big picture: the clash of these two economic titans threatens not only bilateral relations, but also global prosperity and even the peaceful world order that has prevailed since World War II.

China's State Council Information Office on Sunday published a white paper titled "China's Position on the Economic and Trade Consultations."

As America’s China policy turns from engagement to competition, Beijing must face facts: Trump or no Trump, the US has reached bipartisan consensus on containing China. How should Beijing respond? Where will the current confrontation lead? In crafting a new strategy towards the US, China must consider the ultimate goal of its rise, and how America fits into the big picture.

Trade and economic ties were long the ballast in China-US ties — despite political disputes, the business community was in favor of warmer relations. Now the ballast threatens to turn into a stumbling block, as trade may be the sticking point preventing both nations from returning to a friendly stance, while exacerbating their superpower competition.