The rise of a great power: starting with military industry

According to the negotiations between the two sides last year, two summits will be held. This year it will be held in China, and next year it will be held in the United States. The cities for the summits will be selected by the host countries.

As the first China-US Summit, China chose to hold it in Beijing, which is the political and cultural center of China, which is enough to show the importance China attaches to this summit.

At the opening ceremony, leaders of both sides delivered speeches, highly praising the importance of the summit, which will help promote exchanges between the two sides in various fields, stabilize bilateral relations and promote the development of bilateral relations.

The United States is China's largest trading partner; at the same time, China is also the United States' largest trading partner.

The two sides have a lot of common interests, and their exchanges and cooperation are very close.

Since the normalization of bilateral relations, the United States has been the country investing the most in China in the nearly three decades since then. A large number of American companies have invested and built factories in China, and the United States' investment in China has also reaped very generous returns.

According to incomplete statistics, U.S. assets in China are estimated to have reached a staggering 1.5 trillion U.S. dollars.

China is also the largest exporter of agricultural products to the United States and the largest market for Hollywood films outside the United States.

So much so that, in the field of international relations research, the two countries are often described as a "husband and wife relationship", quarreling at one end of the bed and making up at the other, and their economies are highly integrated.

For example, the US delegation this time includes American car companies. In the US market, American car companies still occupy a certain market share. This is because American car companies no longer have car factories in the US. All of their cars are produced in China and then exported to the US, which reduces production costs and makes them competitive.

For example, Boeing aircraft. After China introduced the first batch of Boeing aircraft, Boeing has been the biggest winner in China's aviation market. In less than 1500 years, the aircraft sold by Boeing to China amounted to as much as billion US dollars, and its market share was much higher than that of Airbus.

Even though China's domestically produced large aircraft, the Y-10 and C919, are now in mass production, they still cannot meet market demand. The country still has to import aircraft from abroad. After all, the Y-10 cannot meet some intercontinental flights, such as direct flights to the United States or France, which must require Boeing or Airbus.

Furthermore, many Chinese companies are also suppliers to Boeing.

China's computer, mobile phone and other industries firmly occupy the top position in the US market.

At the beginning, the U.S. had a trade surplus with China, but as the trade volume increased, the U.S. trade surplus with China became smaller and smaller. Later, the U.S. trade surplus with China even turned into a deficit, and this trade deficit is still expanding.

Even though China is increasing its purchases of agricultural products and minerals from the United States, the trade deficit is still expanding.

This China-US summit has attracted global attention, and all countries are very curious about whether the two sides will confront each other during this summit.

There are several hot topics regarding this China-US Summit.

Hot political topics, such as exchanges between the two sides on democracy, freedom, human rights, etc., and how the two sides resolve differences.

The hot economic topics are mainly reflected in U.S. finance. The U.S. has hinted more than once that it will implement quantitative easing.

Quantitative easing is a nice way of putting it. To put it bluntly, the United States wants to print a large amount of money and have the whole world pay for it.

Before that, the United States was forced and was unable to print a large amount of money.

Whether the United States can achieve quantitative easing and depreciate the dollar depends on this summit.

This summit is also seen as a barometer of the world economy.

The hot military topic is about mutual trust between the two sides, establishing more communication channels and avoiding misjudgments.

There is also cooperation between the two sides in combating violent incidents, extremist organizations, etc.

A meeting room. The two sides held a meeting, which was held behind closed doors.

It's just that the atmosphere was a bit tense, both sides were very angry, and they would bang the table from time to time.

If there were any journalists present, they would be shocked.

Even those who were usually gentle and polite had red faces and slammed the table to scold each other.

Unlike public meetings where reports are released to the outside world and everyone is welcome, the issues discussed in closed-door meetings are highly sensitive and involve personal interests.

Some of these topics have been around since the 80s. Every time they are brought up, neither side is willing to back down and the discussions end in a bad mood.

Some issues were resolved as bargaining chips during the game between the two sides.

For example, the restoration of the Ryukyu Kingdom became a bargaining chip for the United States. By paying this bargaining chip, the United States gained benefits in other areas.

Some issues concern the global chessboard.

There is also the issue of trade surplus between the two sides. Americans hope to reduce the trade deficit with China, but the problem now is that Americans cannot provide more products, yet they need these goods.

If the price is lowered, Americans will complain bitterly, believing it is trade dumping. If the price is maintained, Americans will find that the trade surplus will increase.

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After deindustrialization, the United States is now reaping the consequences.

But deindustrialization is a choice that Americans have to make.

After the first oil crisis, energy prices rose sharply. Americans found that low- and mid-end manufacturing industries were not only unprofitable, but also losing money. They could not compete with Japanese products at all. Therefore, setting up factories in countries and regions with low labor costs to reduce costs became an inevitable choice.

But who could have imagined that in just less than thirty years, China would become the world's largest industrial power and the world's largest industrial power, achieving this great feat of becoming a modern industrial power.

This is a miracle.

China's development is so fast that even the United States was far beyond its expectations.

According to US estimates, China's current annual GDP is probably estimated to be 6 trillion or even 7 trillion US dollars.

The most important thing is that a considerable part of China's export goods are not settled in US dollars, but in RMB. China holds only tens of billions of US dollars and very few US bonds.

What caused the quarrel between the two sides this time is that the United States hopes that China will increase the proportion of foreign exchange in US dollars, preferably to hold foreign exchange in US dollars to reach one trillion or even two trillion US dollars.

There are also U.S. debts. It would be best to hold hundreds of billions or even trillions of U.S. debts.

The Americans' wishful thinking is going to work out perfectly.

This aspect was naturally rejected and criticized!
For example, some professionals believe that the United States should return to the Clinton era, drastically cut military spending, and reduce expenditures, thereby reducing the size of the U.S. debt. Otherwise, at the current rate of growth of U.S. debt, it will not be long before the size of the U.S. debt exceeds the size of the U.S. GDP. One day, the United States will even find it difficult to pay the interest on the U.S. debt.

This is also in line with China's consistent principle of not being very willing to issue bonds, believing that being debt-free is a relief.

So far, China's debt has been very low, so low that it makes Americans jealous and envious. (End of this chapter)