Achieving win-win: US and China – A Conversation with Qi Bin

World
Europe

In November of 2016, Qi Bin knew that electing US President Donald Trump might change the economic dynamic between the two largest economies in the world. But at the time, he was still bullish on trade between the two countries, telling a private equity firm in Shenzhen that "cooperation opportunities for China and US are larger than ever."

Qi Bin hasn't changed his mind. Instead, he believes the two countries should be accelerating bilateral trade and investment.

He recently brought that message to the National Governors Association meeting in Santa Fe, the US state of New Mexico. His freewheeling presentation to a receptive group of US governors on July 19 was called "Achieving Win-Win: US and China."

He pointed out that accounting for 50 percent of global growth, the US and China are the engines of the world economy. Instead of stalling the economy, Dr. Qi believes the two countries should be helping to fuel it.

Qi Bin concluded his presentation with a simple quote from Jeffrey D. Sachs, which read "We are not heading into the China Century, or the India Century, or any other but a World Century."

The message was clear for the governors in the audience: In 2018, globalization is a way of life, and unilateralism simply won't work.

In an interview with me after the presentation, Dr. Qi continued to hold out hope that at some point, the trade tensions will fade, although given the current climate, it is difficult to predict when. He said he's hopeful once the tensions subside, that cooperation and deeper economic engagement will once again become a cornerstone of the relationship between the two largest economies.

Qi Bin has spent nearly two decades at the heart of China’s market liberalization. The executive vice president of the country’s largest sovereign wealth fund sees the country’s growth as an example of how Chicago-style economics works.