On July 26, China Finance 40 Forum jointly held a seminar with the Peterson Institute for International Economics (PIIE) on US-China Economic Relations.
The seminar is based on the book authored by C. Fred Bergsten, nonresident senior fellow and director emeritus of the PIIE, The United States vs. China: The Quest for Global Economic Leadership that came out earlier this year. In the book, Bergsten warns of the disastrous implications of the confrontation between the two countries. He calls on the US to stop containing China, and on China to play a more constructive leading role. He charts a new course for the US whereby it pursues “conditional competitive cooperation” (C3) with China, so that the two countries can jointly lead the world economy.
With the economic relation between the world’s two largest economies facing immense complexities and uncertainties, this event brought together a group of leading experts from both countries to explore a series of important questions such as where the bilateral relationship is heading, and how the two sides can better cooperate and manage differences while playing their due roles in the global economic order.
Fred Bergsten kicked off the seminar with a comprehensive recap of major ideas expressed in his book, which received comments from two of his Chinese counterparts who were Jin Zhongxia, CF40 Invited Member and Director-General of the International Department at the People's Bank of China (PBC), and Gao Shanwen, CF40 Academic Committee Member and Chief Economist at Essence Securities.
Huang Yiping, Chairman of CF40 Academic Committee and Deputy Dean of the National School of Development at Peking University, moderated the event.