Friday to continue high-level trade negotiations. His new title as Chinese President Xi Jinpi
ng’s special envoy indicates the importance and authoritativeness of the talks. As pre
paration for the event, consultations at vice-ministerial-level between China and the US were recovered on Tuesday.
The world’s stock markets surged Monday due to the optimistic prospects on the deals that Beijin
g and Washington are expected to make. US President Donald Trump praised “big progress” in the
trade deal on Twitter. His words further stoked the stock markets of the US, which reached the highest in two m
onths and so increased pressure on the Trump administration to close the deal with China.
Analysts believe that if the two countries couldn’t come to an agreement, and as a result the US imposes more tariffs on Chinese prod
ucts while China responds with fiercer countermeasures, it would be a catastrophic strike to global stock markets.
In terms of avoiding such blows, the Trump administration is probably the most pres
sured. Thus in general, by the end of the trade negotiations, China and the US have become more psychologically equal.
assistance to the World Bank and quit the organization. The World Bank is a multilateral institution which was establ
ished under US leadership, and guided by the US Treasury Department. Its heads have traditionally been
appointed by the US government. The World Bank reflected US global strength and was a key instrument for
Washington’s global governance, and increasing its influence as a soft power. However, currently Washington seems to de
molish the structure it built itself by exiting international organizations that signal globalism.
Based on the experiences of the late 20th century, there are several drawbacks of globalism and globalization.
First, globalization enables strong nations to consolidate their d
ominance and lead the international order. It is an instrument that induces weaker states to ob
ey the will of the stronger ones. Globalism is keen on promoting universal values, taking the moral high gr
ound, blaming countries whose actions do not accord with universal values and even intervening militarily in some natio
ns. What does international intervention bring to global politics? It can be explained by hot button issues in Eurasia.