No use China Mainland & USA

Lower thirds:

0:03  Report by / Kerstin Schweizer
1:28  Alejandro Reyes, University of Hong Kong

Script:
It has been more than eight years since the world's two most powerful men last met. As US President Donald Trump travels to Beijing these days, he will find a country with newfound self-confidence.

Gone are the days when threats of punitive tariffs triggered panic among businesses. China has become more independent and has opened up new markets.

While the country's trade with the US dropped by 20 percent last year, exports to Africa, Europe, and Latin America grew significantly. Taken together, China is looking at a record global trade surplus of 1.2 billion dollars.

Leading up to the summit, there was plenty of diplomatic window dressing. Despite the ongoing economic decoupling, both sides remain dependent on one another.

The United States rely on China as an export market and a supplier of rare earth elements. Consequently, during his visit, Trump hopes to secure deals for his country's agricultural sector and for the aircraft manufacturer Boeing.

China, for its part, seeks better access to advanced American technology, such as computer chips.

While recently imposed tariffs have caused trade between the US and China to shrink drastically, a trade imbalance persists. China continues to sell far more goods to the US than the other way around. However, neither side currently has any interest in another escalation of the tariff dispute.

+++SOT Alejandro Reyes, University of Hong Kong+++
"It's really in some ways a risk management summit that is coming at a very crucial time in the, not just the geopolitics, world geopolitics, but also in the global economy.”

The global economy is currently under pressure, primarily due to the war in Iran. China could act as a mediator in the conflict. Just last week, Iran's Foreign Minister was in Beijing for talks. Front and center: the Strait of Hormuz - opening this artery of the global economy would certainly be in the interest of all parties.