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Resetting US-China Economic Relations

The implications of the deepening Sino-American rift are far-reaching, because several of the world’s most pressing economic problems can be solved only with contributions from both countries. And, to address global challenges, active cooperation between the two economic powers is indispensable.

SHANGHAI – The year 1979 was a pivotal one in Sino-American relations. On a historic visit to the United States, Deng Xiaoping, China’s paramount leader, met with President Jimmy Carter at the White House and attended the Round-Up Rodeo in Simonton, Texas, where he donned a ten-gallon hat and charmed the crowd. And, reflecting the rapid normalization of bilateral relations over the course of the decade, the two countries signed the US-China Science and Technology Agreement, which provided a framework for regulating technology, exchanging scientists, scholars, and students, and developing joint projects.

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