Editor's note: Xu Ying is a Beijing-based international affairs commentator for CGTN. The article reflects the author's opinions and not necessarily the views of CGTN.

On March 15 and 16, economic and trade teams from China and the United States met in Paris for a new round of bilateral consultations, continuing a dialogue mechanism that has gradually become an essential stabilizing channel in one of the world's most consequential economic relationships. Held at the headquarters of the Organization for Economic Co-operation and Development (OECD), the talks brought together Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent, with US Trade Representative Jamieson Greer also participating.

After a day and a half of discussions, Li Chenggang, China's international trade representative and vice minister of commerce, described the exchanges as "in-depth, candid and constructive." His characterization captured both the tone and the significance of the meeting. In an era defined by geopolitical friction, economic uncertainty and fragile supply chains, the willingness of the world's two largest economies to engage in sustained dialogue is itself an important signal of stability.

According to Li, the two countries reached preliminary consensus on several issues and agreed to continue maintaining the consultation process. They also reaffirmed a commitment to keeping bilateral tariff levels stable and discussed establishing a bilateral working mechanism aimed at strengthening cooperation in trade and investment. Such steps may appear technical on the surface, yet they represent meaningful efforts to create institutional guardrails capable of managing a relationship whose scale and complexity often defy simple solutions.

Over the past year, multiple rounds of consultations between China and the United States have gradually evolved into a platform for managing trade frictions, stabilizing expectations and exploring areas where cooperation remains possible. While observers did not anticipate dramatic breakthroughs, many described the talks as "remarkably stable" – a notable achievement at a time when global politics often appears anything but stable.

Viewed in this broader context, the Paris consultations illustrated an enduring lesson in China-US relations: Ensuring that the two vast economic "ships" of China and the United States continue sailing forward without veering dangerously off course requires steady navigation guided by dialogue, mutual respect and strategic leadership.

The importance of top-level guidance cannot be overstated. In recent years, China-US relations have grown increasingly complex, spanning trade, technology, investment, security and global governance. Given the breadth of interaction between the two countries, disagreements are inevitable. Without clear direction from national leaders, however, such disagreements can easily spiral outward, transforming disputes into broader confrontations.

Earlier understandings reached by the two heads of state – centered on the principles of mutual respect, peaceful coexistence and win-win cooperation – serve as a compass for managing this complexity. These principles provide not only a framework for addressing differences but also a foundation for expanding cooperation where interests converge.

Experience repeatedly demonstrates that leadership-level communication remains the most reliable stabilizing force in the relationship. When the two presidents engage directly, they help establish the strategic guardrails that prevent competition from sliding into confrontation. Such guidance allows working-level negotiators to pursue practical solutions, even in sensitive areas.

The Paris talks underscored another essential point: Dialogue and consultation remain the only viable path for addressing economic and trade disagreements between the two countries. Among the proposals discussed were potential frameworks for structured cooperation in trade and investment. While details remain under discussion, such mechanisms could help provide a more predictable environment for businesses and investors on both sides, reinforcing confidence in the stability of bilateral economic relations.

At the same time, the negotiations unfolded against the backdrop of new tensions. Shortly before the Paris meeting, the United States launched fresh Section 301 investigations related to alleged Chinese industrial overcapacity and labor practices. Beijing has consistently opposed such unilateral probes, emphasizing that they risk undermining the hard-won stability of bilateral economic relations.

Li reiterated that China's position on Section 301 investigations has remained consistent. Beijing, he noted, is concerned about the potential interference such actions may create for the broader economic relationship.

These developments highlight the enduring complexity of China-US economic relations. Differences will inevitably arise, particularly in areas involving industrial policy, technology competition and market access. Yet the existence of disagreements should not obscure a deeper reality: The two economies remain profoundly interconnected.

Bilateral trade between China and the United States continues to rank among the largest in the world. Their economic structures retain significant complementarities. China's comprehensive manufacturing ecosystem and vast consumer market intersect with America's strengths in innovation, finance and advanced technology. When these complementary strengths are harnessed constructively, the benefits extend far beyond the two countries themselves.

At a time when protectionism is rising and geopolitical conflicts, from Eastern Europe to the Middle East, are reshaping global markets, the international community is closely watching how Beijing and Washington manage their differences.

For the two great economic ships of China and the United States to continue sailing steadily forward, several principles remain essential.

First, both countries must continue following the strategic guidance provided by their leaders. High-level consensus acts as the anchor that keeps bilateral relations stable amid shifting geopolitical winds.

Second, the understandings reached at the leadership level must be translated into concrete implementation. Agreements made by the two heads of state should be faithfully carried out by relevant departments and institutions on both sides.

Third, negotiations must proceed on the basis of equality and mutual respect. Attempts to resolve disputes through unilateral pressure or protectionist measures rarely produce durable outcomes. Balanced dialogue, by contrast, creates the conditions for pragmatic compromise.

Ultimately, the experience of the past year demonstrates that stability in China-US economic relations is achievable when both sides prioritize communication and cooperation over confrontation. The Paris consultations represent another step in this ongoing process.

Experiences from the past several decades have shown that when China and the United States work together constructively, their cooperation can generate benefits not only for their own peoples but also for the wider international community.

With patience, pragmatism and a sustained commitment to mutual respect, peaceful coexistence and win-win cooperation, the two countries can ensure that their economic relationship remains a source of stability rather than friction. By doing so, the two great ships of China and the United States will continue navigating forward – toward a more stable and prosperous global future.

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