THE TTALK QUOTES
On Global Trade & Investment
Published Three Times a Week By:
The Global Business Dialogue, Inc.
Washington, DC   Tel: 202-463-5074
Email: Comments@gbdinc.org
No. 20 of 2017
No. 66 of 2017
TUESDAY, NOVEMBER 14 2017

Click here for last Wednesday's quotes from President Trump's Seoul speech. 

TRADE'S COMPETING VISIONS - FROM TRUMP & XI

"Will Donald Trump's disaffection for the legacy system prove to be more widely shared than we realize, and China's dream less so?

"Or will Asian countries prefer larger collective, inclusive arrangements to a multiplicity of smaller ones? Time will tell." 

Joanne Thorton
November 13, 2017
CONTEXT
Metaphorically at least, the men and women who participated in the APEC CEO Summit in Da Nang last Friday (November 10) were at the center of the world. Addressed by both President Donald Trump of the United States and President Xi Jinping of China, those business leaders heard two high level appeals to participate in building a prosperous future. In that the speeches by the two leaders were similar. Beyond that, they were quite different. 
 
Joanne Thorton, Vice President of the Global Business Dialogue and a GBD author, has highlighted the differences in the Trump and Xi approaches in blog post on the GBD website, Dichotomy in Da Nang. Today's featured quote is from that post. It includes several contrasting quotes from the two leaders, including these.

From President Trump:

"I will make bilateral trade agreements with any Indo-Pacific nation that wants to be our partner and that will abide by the principles of fair and reciprocal trade. What we will no longer do is enter into large agreements that tie our hands, surrender our sovereignty, and make meaningful enforcement practically impossible...."

From President Xi: 

"We should uphold multilateralism, pursue shared growth through consultation and collaboration, forge closer partnerships, and build a community with a shared future for mankind." 
COMMENT
We don't expect the tension between these competing visions to be resolved any time soon. There will be no quick return to the status quo ante, so to speak, and the global optimism of the mid-1990s. No, the world will be dealing with this dichotomy for a long time, regardless of how the various contemporary negotiations - NAFTA, RCEP, and a revised TPP - play out. Here in the TTALK Quotes, we may even return to these same speeches before too long. So we shall keep this short, but we do have to mention this:
RELATED EVENT ON THURSDAY
On Thursday, November 16, GBD will host discussion of the evolving trading relationship in the Asia Pacific Region at the National Press Club. TPP After APEC is a link to the flyer for this event.
SOURCES & LINKS
Dichotomy in Da Nang is a link to the post by Joanne Thornton that was the source for today's quote.
   
President Trump at the Business Summit is a link to the text of President Trump's speech in Da Nang on November 10 as it appears on the White House website.

President Xi at the Business Summit is a link to the text of President Xi's speech in Da Nang on November 10 as published by Xinhua.



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©2017 The Global Business Dialogue, Inc.
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R. K. Morris, Editor
Joanne Thornton, Associate Editor