From Geneva to London, the world has been watching closely as the United States and China embark on a renewed phase of economic and trade dialogue-one that could determine the future trajectory of global trade, economic cooperation, and industrial stability for years to come. Between June 9 and 10, the first formal meeting of the newly established China-US economic and trade consultation mechanism was held in London. While the meeting concluded with what officials described as “in-depth and candid” exchanges and a preliminary agreement on implementing the consensus reached in Geneva and during the phone call between the two heads of state on June 5, much remains uncertain.

What makes this moment particularly critical is not just the bilateral nature of the talks, but the global implications of their outcome. These negotiations are taking place against the backdrop of a highly volatile international economy. With global supply chains still fragile from the impacts of COVID-19, ongoing geopolitical tensions, and inflationary pressures in many countries, the actions-or inactions-of the world’s two largest economies are no longer a matter of national concern, but of global importance.

The Geneva consensus laid the groundwork for the London talks, and the high-level conversation between the leaders of China and the United States offered renewed hope for stabilizing a relationship that has been defined in recent years by confrontation rather than cooperation. The London meetings, which spanned nearly two days of intense dialogue, reportedly ran late into the night. This “marathon” effort signals the seriousness with which both sides are approaching the issue. But even more significant is what comes next. Frameworks and positive atmospheres are valuable, but they are no substitute for concrete implementation. The international community is now looking to the United States to match its words with consistent, sustained action.

In the past, the United States has made similar commitments, only to backtrack under domestic political pressure........

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