The 20th China Institute Summit took place in New York, gathering influential figures to discuss vital global issues. During his keynote speech, Robert Hormats, former U.S. Under Secretary of State and Vice Chairman of Kissinger Associates, emphasized the importance of rebuilding trust and cooperation between the U.S. and China for the benefit of both nations and the world at large.
Reflecting on his experiences as a senior economic advisor to Dr. Henry Kissinger during the early 1970s, Hormats highlighted the significant evolution in Sino-U.S. relations. He noted the minimal trade and interaction at the time and contrasted it with today's extensive economic engagements, where nearly every major American company is linked to China through investments, partnerships, or consumer markets.
Hormats pointed out the growing collaboration in education, technology, and business, but also identified a concerning "trust deficit" between the two nations. He argued against viewing Sino-U.S. relations as a zero-sum game, advocating for a win-win approach. He stressed the necessity for mutual respect and understanding, lessons learned from the 1970s, to achieve common goals in the rapidly changing global economy and geopolitical landscape.
Hormats identified climate change, medical research, educational exchange, and trade investment as crucial areas for cooperation. He argued that in facing current global economic and geopolitical shifts, collaboration rather than confrontation is essential. Hormats suggested that China and the U.S. should together lead a new framework for international cooperation, as the post-World War II world order evolves.
Moreover, he underscored the vital role of local governments and enterprises in fostering cooperation, noting that American mayors and governors see potential in partnerships with Chinese cities and provinces, while Chinese investors invigorate local U.S. economies.
Hormats concluded by urging leaders and stakeholders from both countries to maintain constructive dialogue, advocating for respect and cooperation to foster positive bilateral relations. He emphasized that Sino-U.S. cooperation is not only beneficial to the two countries but also advantageous to the entire world.
