Joint China-U.S. working groups would be a step in right direction
CGTNAug 07, 2023
The Facts
On Friday, the US Treasury Department announced the creation of two new US-China working groups to open a line of communication concerning economic and financial matters between both nations.
The Economic Working Group and the Finance Working Group will both be led by the US Treasury Department, with China's Ministry of Finance leading alongside the department on the economic group and the People's Bank of China on the finance group.
The Spin
Pro-establishment narrative
The creation of working groups between the US and China can only be viewed as a positive policy following the unsustainable pace of reciprocal countermeasures the two states have imposed upon one another in recent times. Given the need for clarity between China and the US, the attempted use of dialogue is relief amid the growing threat of confrontation.
Establishment-critical narrative
So far, despite enhanced dialogue, meetings between the US and China have rewarded little material gain for the world. China continues to evade the US' concerns over its behavior, and Washington skips around topics that may anger Beijing. Time and time again, it has been proven that, despite best intentions, dialogue between international powers simply isn't enough.
Nerd narrative
There's a 20% chance of a US-China war before 2035, according to the Metaculus prediction community.