Amidst the pomp and flash of red carpet airport welcomes, a banquet with a cultural show and elaborate fireworks display, and meetings by heads of state came a more quotidian announcement: China and the U.S. will expand the duration of visas each country grants the other, president Barack Obama announced in aspeech to the world leaders attending the Asian-Pacific Economic Cooperation (APEC) summit.

Don’t be fooled by what sounds like a low-level border control issue. Starting on Wednesday, business, student, and tourist visas that previously had to be renewed yearly will be extended, with students given five-year terms and business visas good for a decade.

That’s expected to provide a major payoff in trade and investment, Obama noted in his speech. China is the U.S.’s fastest growing export market. Meanwhile, investment from China in the U.S. has increased sixfold in the past five years. “All these things mean jobs for the American people; and deepening these ties will mean more jobs and opportunity for both of our peoples,” the U.S. president said.

“Now, of course, that will be good for the businessmen who are going back and forth all the time,” Obama continued. “But keep in mind, last year, 1.8 million Chinese visitors to the United States contributed $21 billion to our economy and supported more than 100,000 American jobs.  This agreement could help us more than quadruple those numbers.”

David Fuller's view

This is a commonsense agreement.  The world’s two largest and most powerful countries can only benefit from increased trade and tourism.  The economic gains are obvious and it can only help to reduce inevitable tensions between these two superpowers.