In New York last month, US-China talks on artificial intelligence opened up a path of cooperation. This was affirmed by the Xi-Trump summit in Washington where both presidents agreed to establish a formal AI dialogue and hotline. With the next AI meeting set to happen in November, it is imperative that both countries further cooperation.
The AI ecosystem is in flux. American tech companies are draining their coffers as they commit vast sums to chips, data centres and energy before the revenue model is even settled. Trillions of dollars are being committed to the AI buildout. While this exposure is not the same as the overleveraging in the mortgage market that triggered the 2008 global financial crisis, a sudden bursting of the AI bubble could have far-reaching consequences.
Much of US economic growth this year has been from AI or AI-enabling companies. Yet, only 38 per cent of Americans saw “more benefits than drawbacks” in AI products and services – well below the global average – against 85 per cent in China, according to the Ipsos AI Monitor 2026. In May, the Ipsos Consumer Tracker found that most Americans would oppose a data centre in their community.