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Opinion

US, China and the limits of free trade

Globalization must give ground to domestic economic priorities in both countries

| China
Peaceful economic coexistence between the U.S. and China is the only way to prevent costly trade wars.   © Getty Images

The world economy desperately needs a plan for "peaceful coexistence" between the United States and China. Both sides need to accept the other's right to develop under its own terms. The U.S. must not try to reshape the Chinese economy in its image of a capitalist market economy, and China must recognize America's concerns regarding employment and technology leakages, and accept the occasional limits on access to U.S. markets implied by these concerns.

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