Why the United States, China Need a ‘Track Record of Success’

{
  "authors": [
    "Evan A. Feigenbaum"
  ],
  "type": "legacyinthemedia",
  "centerAffiliationAll": "dc",
  "centers": [
    "Carnegie Endowment for International Peace",
    "Carnegie China"
  ],
  "collections": [
    "China’s Foreign Relations"
  ],
  "englishNewsletterAll": "asia",
  "nonEnglishNewsletterAll": "",
  "primaryCenter": "Carnegie Endowment for International Peace",
  "programAffiliation": "AP",
  "programs": [
    "Asia"
  ],
  "projects": [],
  "regions": [
    "North America",
    "United States",
    "East Asia",
    "China"
  ],
  "topics": [
    "Economy",
    "Security",
    "Foreign Policy"
  ]
}

In The Media

Why the United States, China Need a ‘Track Record of Success’

While China’s increasing regional assertiveness is bleeding over into U.S.-China relations, the two countries also have many opportunities for greater economic cooperation.

By Evan A. Feigenbaum

Published on Jul 8, 2014

Source: CNBC

Carnegie’s Evan Feigenbaum appeared on CNBC to discuss the upcoming Strategic and Economic Dialogue and the future of U.S.-China relations. Feigenbaum emphasized that, in contrast to earlier great-power relationships, the U.S.-China relationship combines elements of both cooperation and competition. While China’s increasing regional assertiveness is bleeding into U.S.-China relations, Feigenbaum suggested that the two countries have many opportunities to build on their “track record of success” in the economic sphere. In particular, he noted that the negotiations over the Bilateral Investment Treaty are a key area of opportunity going forward. Further, although cybersecurity is currently an area of contention, China’s shift toward a more innovation-driven economy will create more common ground with respect to intellectual property rights in the future. Resolving structural challenges within the United States and China, while in each country’s self-interest, may also serve as common ground for greater economic cooperation, he concluded.

This interview originally appeared on CNBC.

About the Author

Evan A. Feigenbaum

Vice President for Studies

Evan A. Feigenbaum is vice president for studies at the Carnegie Endowment for International Peace, where he oversees work at its offices in Washington, New Delhi, and Singapore on a dynamic region encompassing both East Asia and South Asia. He served twice as Deputy Assistant Secretary of State and advised two Secretaries of State and a former Treasury Secretary on Asia.

Recent Work

Commentary
Is the Shanghai Cooperation Organisation Performance Art or Meaningful Collaboration?
- Evan A. Feigenbaum
Commentary
In Its Iran War Debate, Washington Has Lost the Plot in Asia
- Evan A. Feigenbaum

Economy Security Foreign Policy North America United States East Asia China

Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.

More Work from Carnegie China

Commentary
China Financial Markets
The Plaza Accord and Its Relevance for China
The Plaza Accord was not an externally imposed punishment of Japan but part of a broader restructuring that Japanese economists and policymakers themselves recognized was necessary. Its effects were undermined, however, when Tokyo responded to the resulting slowdown with policies that exacerbated investment, credit expansion, and the very imbalances the adjustment was intended to resolve.
Michael Pettis
Paper
Untangling the Nuclear Knot: A Constructive Agenda for Managing China’s Nuclear Relations with the United States and Its Allies
The nuclear relationship between China and the United States is increasingly shaped by widening perception gaps rather than deliberate strategic design.
Tong Zhao
Commentary
China Financial Markets
Who Paid for China’s Last Debt Cleanup, and Who Will Pay for the Next?
China’s banking crisis in the 2000s was resolved by transferring the costs to households through financial repression—a decision that recapitalized the banks while exacerbating the structural imbalances that continue to shape the Chinese economy today.
Michael Pettis
Commentary
Caught in the Middle: Chinese Biotech Firms’ Divergent Responses to U.S. Sanctions
Chinese biotech companies have been on the receiving end of U.S. economic coercion. Yet their responses have differed significantly because firm and state interests are not uniformly aligned. For Washington, treating all Chinese tech firms the same, irrespective of their actual interests, risks pushing them farther into Beijing’s corner.
Xue Gong
Commentary
Are Data Centers the Solution to China’s Renewables Excess Capacity?
China’s latest energy plan explicitly calls for integrating data centers into the electricity system, particularly connecting them to green energy. It appears Beijing wants to use compute as a source of domestic demand to absorb renewables excess capacity.
Damien Ma

More Work from Carnegie China

Commentary

China Financial Markets

The Plaza Accord and Its Relevance for China

The Plaza Accord was not an externally imposed punishment of Japan but part of a broader restructuring that Japanese economists and policymakers themselves recognized was necessary. Its effects were undermined, however, when Tokyo responded to the resulting slowdown with policies that exacerbated investment, credit expansion, and the very imbalances the adjustment was intended to resolve.

Michael Pettis

The nuclear missile formation passes through Tian'anmen Square during a military parade on September 3, 2025 in Beijing, China.

Paper

Untangling the Nuclear Knot: A Constructive Agenda for Managing China’s Nuclear Relations with the United States and Its Allies

The nuclear relationship between China and the United States is increasingly shaped by widening perception gaps rather than deliberate strategic design.

Tong Zhao

Commentary

China Financial Markets

Who Paid for China’s Last Debt Cleanup, and Who Will Pay for the Next?

China’s banking crisis in the 2000s was resolved by transferring the costs to households through financial repression—a decision that recapitalized the banks while exacerbating the structural imbalances that continue to shape the Chinese economy today.

Michael Pettis

Robot arm with disposable test tube virus sampling in laboratory

Commentary

Caught in the Middle: Chinese Biotech Firms’ Divergent Responses to U.S. Sanctions

Chinese biotech companies have been on the receiving end of U.S. economic coercion. Yet their responses have differed significantly because firm and state interests are not uniformly aligned. For Washington, treating all Chinese tech firms the same, irrespective of their actual interests, risks pushing them farther into Beijing’s corner.

Xue Gong

An aerial drone photo taken on June 4, 2026 shows a wind-photovoltaic power storage station of Huadian Inner Mongolia New Energy Co., Ltd. as part of the Horinger data center cluster green energy supply demonstration project, in Hohhot, north China's Inner Mongolia Autonomous Region.

Commentary

Are Data Centers the Solution to China’s Renewables Excess Capacity?

China’s latest energy plan explicitly calls for integrating data centers into the electricity system, particularly connecting them to green energy. It appears Beijing wants to use compute as a source of domestic demand to absorb renewables excess capacity.

Damien Ma