Don't be fooled by the Chinese government's recent charm offensive towards foreign business.
President Xi Jinping attends the leaders retreat at the Asia-Pacific Economic Cooperative summit in San Francisco, November 17, 2023. Credit: The Yomiuri Shimbun via AP Images
With China’s economy continuing to face substantial headwinds in 2023, despite signs of stabilization over the last quarter, hopes have emerged that there will be a return to pragmatism in policy making. Over the summer Beijing introduced numerous measures to give more support to the private sector and households. This was complemented by a charm offensive towards foreign companies, including an easing of capital controls and promises to relax cross-border data flow restrictions.
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Agriculture has traditionally been a fruitful area for China-U.S. cooperation, dating back to the two countries’ resumption of diplomatic relations in the 1970s. Now it is just another area marked by Sino-American distrust, as Washington hunts Chinese agriscience “spies” and Beijing races to reduce reliance on U.S. farm exports.
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