Given the political culture of the contemporary Chinese state, it is not at all surprising what its Foreign Minister Wang Yi today says of his President Xi Jinping and his US counterpart Donald J Trump. After the two leaders met at Gimhae International Airport, on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, in Busan, the other day, Minister Wang reportedly described them as “world-class leaders.” Minister Wang has to say what his boss Xi wants him to and he must do what, in due course, might help China “lay a solid foundation” for its relations with the United States—a dream the successive governments in Beijing have shared since Mao Tse Tung met then American President Richard M Nixon in 1972.

One, however, finds China has gained little from the agreement Presidents Xi and Trump had in Busan. Observers say that after meeting Chinese supremo Xi in Busan, US President Trump has described him as the “great leader of a great country.” But those who have followed President Trump must be knowing well it means little. President Trump is sugar-coated while talking about any leaders, including the dictator Kim Jong Un of North Korea. He succeeded in making the Busan summit specific to the interests of the United States. Following it, China would suspend its rare earth export curbs on the US and resume Soybean purchases from the USA.

This deal serves the US interest well. The rare earth metals are critical for the production of everything– from smartphones to headphones to military defense weaponry, fighter jets and tanks—in the United States. As for the soybeans, they happen to be the top farm product the US exports abroad. China, one of its top buyers, had of late stopped purchasing it from the US in retaliation of its increase in trade tariffs on the Chinese goods.

As per the Busan agreement, China would also stop the flow” of fentanyl into the USA. These chemicals are used for the production of the opioid in the USA. Needless to say, fentanyl is a highly addictive drug. It is 50 times stronger than heroin. It has been at the center of the US opioid crisis that contributes to tens of thousands of overdose deaths each year.

Also, the Busan talks did not offer any concession to China on the issue of semiconductors. They are crucial for the development of artificial intelligence (AI). Former US President Joe Biden’s administration had imposed export controls on US-made semiconductors to limit China’s access to advanced chips used in AI development. At Busan, President Trump showed hardly any inclination to lifting these controls.

The observers say the US has conceded little to China at the Busan summit. It has agreed to lower tariffs on the Chinese imports by just 10% to 47% from around 57%. The Busan summit was a break-through for the USA at the political plane too.  Herein China agreed to “work together” with the USA to end the  war in Ukraine . The USA today wants China to come along on the issue.  But China did not get from the USA what it always wants on the issue of Taiwan, the island nation over which it claims sovereignty.

The observers say President Xi seems to think China’s development and revitalization goes hand in hand with US President Trump’s vision to “Make America Great Again.”

In Busan, he said,  “China and the United States should be partners and friends. That is what history has taught us.” President Xi may be hoping things will get better by April next year when Trump will be visiting China.

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