Shared sincerity sets foundation for a deal

Having exchanged in-depth views on trade and other economic issues, the Chinese and US delegations finally wrapped up their discussions on Wednesday, with both sides agreeing to continue to keep close contact with a view to ultimately solving their differences.

The talks, which were extended for an unscheduled third day on Wednesday, having already continued late into the evening on Tuesday, have eased market concerns that the world's two largest economies would be unable to find a way to end their trade frictions. And Asian stock markets rose on the back of the rising tide of optimism that the two sides will reach an agreement that will stop the trigger being pulled on a further exchange of punitive measures.

The extra day of talks testifies to the complexity of the trade and economic relations between China and the United States. It is unrealistic to expect a quick-fix solution or Band-Aid; it will take time to sort out the many thorny issues between them. This week's negotiations, which both have engaged in with sincerity and goodwill, have offered a good opportunity for the two sides to deepen their mutual understanding and allowed them to expand their common ground. Both sides have demonstrated they are aware that they lose more than gain from being at odds with one another.