Opinion | Trade war lesson: when you can’t ignore China, learn to be patient and work with the Chinese
- Over time, the issue of intellectual property protection is being addressed by the US and China, and a trade deal might materialise soon
- In dealing with Beijing, both Americans and Europeans need to take a forward-looking approach
Time cannot heal all wounds, obviously. But it should be given a fair chance to do its work, before we march off in directions unknown, with consequences wildly uncertain.
It was as if the Americans wanted royalties on everything new under the sun and, in return, the Chinese demanded back residuals on gunpowder, among other things. The issue was one rushing, roiling river you could never cross. But now the waters have somehow receded and, step by step, a delicate path has appeared.
A right time can emerge only if you give it enough time. This is the view of intellectual property expert Kal Raustiala, a law professor at the University of California, Los Angeles, and co-author of The Knockoff Economy: How Imitation Sparks Innovation, which has been widely translated, including into Chinese, Korean and Japanese.
Says Professor Raustiala: “I think this is an issue that is sorting itself out over time. My take has been that the US should calm down since China will move toward a better system. And it will, and has. But pushing has been helpful too.”
The IP issue isn’t the only example. It is now believed by informed sources that we can soon expect a sensible, though not definitive, mutual accommodation on the bilateral trade firestorm unilaterally initiated by the Trump administration.