Bridging Giants: US Delegation Advocates New Global Economy Rules Amidst China's Rise

A US congressional delegation visited China to discuss renegotiating global economic rules, acknowledging China's rise. Rep Adam Smith emphasized continued business interactions despite trade tensions and called for open communication between governments and militaries to resolve ongoing issues, with a focus on a fair, rules-based international economic order.

A US congressional delegation has called for a renegotiation of global economic rules to align with China's emergence as a contender for global leadership. The delegation, led by Rep Adam Smith, acknowledged that the US-led post-World War II order has served many nations well, but recognized the need for change.

The three Democrats and one Republican spent five days in China, including meetings with Shanghai's mayor, where trade issues were discussed. Smith noted the continuing business between the two economies, despite the ongoing trade war, and expressed the need for discussion to reduce tariffs and other import barriers.

Smith emphasized the importance of dialogue between the US and Chinese militaries as two major nuclear powers. He stressed the potential benefits of a rules-based international economic order that accommodates everyone's interests, urging robust debate and negotiation on the subject.

(With inputs from agencies.)