Trump and Xi have only blunted the edges of the rivalry

On Thursday morning, the world was able to watch a nearly two-hour meeting between the key men of the planet – US President Donald Trump and his Chinese counterpart Xi Jinping – in Busan, South Korea. She was expected to help end the trade war between the two powers, which has manifested itself with varying degrees of intensity since Trump took office in the White House.

Diplomatic phrases were indeed not spared at the meeting. Trump called the Chinese leader a "great leader and a tough negotiator." Xi countered by saying that "China's development goes hand in hand with Trump's vision of making America great again," saying that the two countries should be partners and friends.

Tensions in mutual relations will now ease. In exchange for China not hindering the export of rare earth metals, the US will reduce tariffs on Chinese goods from 57 to 47 percent. A formal agreement on this remains to be concluded.

But let's be realistic. So far, it is just a blunting of the edges in the power competition, a restoration of the status quo from the beginning of the year before Trump started the trade war with China.

Washington must now evaluate whether it is pulling the short end of the rope in a trade conflict with China. It was a stark warning when Beijing used its global dominance in the mining, processing, and distribution of rare earth metals essential for modern technology against U.S. tariffs, sanctions, and restrictions.

Without them, the production of high-tech consumer goods such as smartphones, green energy infrastructure, i.e. wind turbines, solar panels and batteries, as well as the production of advanced weapons systems – aircraft, missiles and submarines – are at risk. This also includes F-35 fighters ordered by the Czech Republic.

The turn to "non-Chinese minerals" that Trump is now trying to achieve is a very long run, far beyond one presidential term.

However, there are other reasons why the Middle Kingdom can feel confident. Trump's trade wars have alarmed America's traditional allies and further lured away from Washington those powers of the Global South that wanted to maintain proper relations with him.

This is especially true for India. Indian Prime Minister Narendra Modi finally visited China after seven years after US tariff pressure, where he demonstratively showed rapprochement with China. At the same time, the last five US presidents before Trump anxiously tried to keep India on the American side - as a Chinese counterweight.

Even the governments of European countries are forced to think about how to isolate themselves from Trump's whims. China may even offer itself as a more predictable actor. Here it can be recalled that it has once again become Germany's main trading partner.

But perhaps the world would appreciate more pragmatism in U.S.-China relations against the backdrop of fundamental changes in the global power order. Will we see any shift here in April next year, when Trump is due to pay an official visit to China? 

Miloš Balabán, Právo Daily