A fragile truce between the US and China has been brokered, but its long-term implications remain far from certain. The meeting in South Korea marked a much-needed de-escalation of tensions that had threatened to plunge the world into economic chaos.
President Trump's usual bluster-and-bang approach faltered when faced with Beijing's firm stance. No lavish gifts or empty promises were on offer from Chinese leader Xi Jinping, who instead made it clear that China would not be pushed around. The two sides agreed to reduce tariffs and suspend certain restrictions on tech exports, but the underlying issues remain unresolved.
Critics argue that this deal is nothing more than a temporary reprieve, and that Mr Trump's trade diplomacy remains erratic and unpredictable. The US is struggling to establish meaningful partnerships with its trading partners, and the country's withdrawal from global institutions and forums has left it isolated on key issues.
China, meanwhile, appears to be taking advantage of the US's inaction to build its own economic power. Beijing has been strategically mapping out its vulnerabilities and tackling them head-on, while the US lags behind. The recent decision by China to wield access to rare earths as a weapon has raised concerns about its growing influence on the global stage.
As tensions between the two superpowers continue to simmer, the world watches with bated breath. The European Union must show that it can stand up to Chinese coercion, while other countries struggle to resist the temptation of dumping on their own economies.
In short, Thursday's meeting has brought a welcome respite from the brink of disaster, but the underlying contradictions between the US and China remain unresolved. As such, the dangers to both nations β not to mention the rest of us β are very much still present.
President Trump's usual bluster-and-bang approach faltered when faced with Beijing's firm stance. No lavish gifts or empty promises were on offer from Chinese leader Xi Jinping, who instead made it clear that China would not be pushed around. The two sides agreed to reduce tariffs and suspend certain restrictions on tech exports, but the underlying issues remain unresolved.
Critics argue that this deal is nothing more than a temporary reprieve, and that Mr Trump's trade diplomacy remains erratic and unpredictable. The US is struggling to establish meaningful partnerships with its trading partners, and the country's withdrawal from global institutions and forums has left it isolated on key issues.
China, meanwhile, appears to be taking advantage of the US's inaction to build its own economic power. Beijing has been strategically mapping out its vulnerabilities and tackling them head-on, while the US lags behind. The recent decision by China to wield access to rare earths as a weapon has raised concerns about its growing influence on the global stage.
As tensions between the two superpowers continue to simmer, the world watches with bated breath. The European Union must show that it can stand up to Chinese coercion, while other countries struggle to resist the temptation of dumping on their own economies.
In short, Thursday's meeting has brought a welcome respite from the brink of disaster, but the underlying contradictions between the US and China remain unresolved. As such, the dangers to both nations β not to mention the rest of us β are very much still present.