Opinion | Can the US and China forge a rivalry of convenience?

Deteriorating China-US relations are often blamed on the two countries’ different political and economic systems. However, building on the commonalities of the strategic objectives of Chinese President Xi Jinping and US President Donald Trump may offer a path to improved relations. The path forward is relatively wide and multifaceted in terms of geopolitical concerns but narrower in terms of trade and economic issues.

Both leaders draw on nationalism tinged with nostalgia in shaping their aspirations. Trump’s trademark “make America great again” mirrors Xi’s dream of realising the “great rejuvenation” of the Chinese nation. Their respective foreign policies have geopolitical implications – exemplified by Xi’s Belt and Road Initiative that puts it at the centre of global supply chains, and Trump’s overtures to incorporate Canada, the Panama Canal and Greenland into America’s sphere of control.

Trump’s obsession with exercising leverage to strike deals involves threatening allies, who are more susceptible to pressure than America’s perceived enemies due to their reliance on the US for security and economic support.

Washington’s disruptive behaviour provides an opening for Beijing regarding global leadership, but Beijing is still developing its soft power skills and lacks the financial and military resources to make this a near-term reality.

Both see economic power coming from manufacturing and technological self-reliance, with trade playing a critical role. Trump relies on tariffs because of the largely unchecked authority he has in their use. Meanwhile, Xi can influence industrial and trade outcomes through the state’s control over resources.