Major Negotiations Escalate! The China-U.S. Competition Unfolds

I. Besant Bids Farewell to London

U.S. Treasury Secretary Besant hurried back to Washington for a congressional hearing after two days of secret talks with the Chinese side, indicating the significant toll of the negotiations. This move may be aimed at creating a positive public expectation of a negotiation victory.

II. Remaining Representatives Continue to Apply Pressure

Commerce Secretary Luthnick and Trade Representative Greer remain in London to continue negotiations, claiming 'progress is smooth,' but their tone still carries an exploratory and urgent tone, signaling an intention to reach an agreement quickly and boost market confidence.

III. China Shows Strong Patience

The Chinese side reacts calmly, with cautious dialogue steps, adhering to the principle of equality, and stabilizing the pace of negotiations. In terms of rare earth exports, the phrase 'take it slow' highlights the control over the initiative.

IV. Game of Exchange Between Rare Earths and Chips

The main topics of negotiation focus on rare earth exports and high-end chip export controls. The U.S. hopes to lift the chip ban on China in exchange for quicker rare earth permits. China clearly states that rare earth exports must follow procedures, ensure safety, and reflect national sovereignty and compliance principles.

In-Depth Observation: The U.S. Objective: Eager to stabilize the market and political achievements, tactically leaning towards applying pressure and seeking an advantage in public opinion.

China's Strategy: Adhere to fair negotiations and prioritize process, using the 'rare earth card' to control the pace of dialogue.

Substance of Negotiations: It is not just about trade exchanges, but also concerns core resources in technology and national defense.

This seemingly mutually beneficial negotiation is, in fact, a contest of 'power and pace' between China and the United States. The U.S. hopes to reach an agreement quickly, prioritizing America; the Chinese side places greater importance on national security and strategic resource independence, controlling the pace firmly.