Trade still robust amid noise over competition

Leading economies need better strategic approach for risk management: Experts

In a recent forum commemorating the 45-year diplomatic legacy between the United States and China, economic experts contended that trade relations have shifted from cooperation to competition, and that the governments need a more strategic approach to risk management.

The business relationship has often been described as the ballast of bilateral ties since China and the US established diplomatic relations in 1979, and the win-win philosophy has been a mainstay of that history over the past 45 years.

The US and China have developed a high level of economic interdependence since China's reform and opening-up to the world. China rapidly developed to be a major center of manufacturing and supply chains in the world, becoming the US' third-largest trading partner.