Turbulent US-China Relations, Climate Change Unites Unlikely Allies

Leading Climate Change Risk Initiative...Co-Chair of G20 Working Group

Source: WSJ

[Asia Economy Reporter Yujin Cho] The United States and China, the world's largest economic powers that have maintained a tense relationship, have agreed to cooperate on climate change.

On the 9th (local time), The Wall Street Journal (WSJ) reported that the two countries will serve as co-chairs of a group studying financial risks related to climate change at the Group of Twenty (G20).

U.S. Treasury Secretary Janet Yellen informed G20 member countries in a letter sent on the 25th of last month that the United States would take on the role of co-chair of the G20's "Sustainable Finance Group," and the next day, Yi Gang, governor of the People's Bank of China, also expressed pleasure that China would serve as a co-chair of the group.

However, neither side explicitly mentioned with whom they would share the co-chair position.

Reflecting the sensitive relationship, WSJ reported that both countries are taking a cautious approach to climate change issues. John Podesta of the Center for American Progress in Washington said, "The U.S. and China are trying to make climate change a safe channel for communication."

The power struggle between the two countries, stemming from trade disputes, has continued even after the inauguration of the Biden administration.

The Biden administration has declared its intention to maintain a tough stance on China, similar to the previous Trump administration, and the initial cabinet officials of the Biden administration have defined China as America's competitor and greatest challenger.

China, meanwhile, is reducing its dependence on U.S. technology while countering the Biden administration's offensives on issues such as human rights and Taiwan.

However, regarding climate change, both sides acknowledge the urgency of the matter and share a sense of necessity.

President Xi Jinping declared at the United Nations General Assembly last September that China would peak carbon emissions before 2030 and achieve carbon neutrality before 2060. President Biden also signed an executive order on January 20th, the day of his inauguration, to rejoin the Paris Agreement on climate change, which former President Trump had withdrawn from.

President Biden appointed former Secretary of State John Kerry, who led the negotiation of the Paris Agreement, as climate envoy, and China appointed Xie Zhenhua as its special representative for climate change last month. The two have already built a rapport through multiple past international climate meetings.

A source told WSJ that the two have regularly exchanged ideas on climate change since it became likely that President Biden would win the election last year.

This content was produced with the assistance of AI translation services.