Managing U.S.-China Tensions over the Global Economic Order

Tentative Proposals

The U.S.-China Global Economic Order (GEO) Dialogue, now in its ninth year, focuses on strengthening dialogue and fostering cooperation around the three pillars of the Bretton Woods system: international trade, finance, and development. The purpose of the dialogue is to provide a platform for in-depth discussions among a small number of subject-matter experts. Through repeated exchanges and consultations with policymakers, the dialogue provides an opportunity to raise sensitive topics, test assumptions, analyze challenging problems, and explore potential solutions. Although the discussions are the main “deliverable” of the GEO Dialogue, the project has previously published reports in 2017, 2019, and 2021. The primary value of these reports were their collective call to adopt imaginative policies to resolve difficult problems. The current volume adopts the same posture but with one difference. Whereas the dialogue sessions were the foundation for previous volumes, with a portion of the participants picking up the pen to write wholly formed commentaries, this volume comprises brief notes drafted in advance of the session, held in May 2024 in Washington, D.C., and then lightly revised afterward. Participants offer tentative yet provocative solutions to the policy community in four topical groups: economic competition, economic security, finance, and decarbonization and development.

This report is made possible by project support from the Carnegie Corporation of New York.

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Scott Kennedy
Senior Adviser and Trustee Chair in Chinese Business and Economics