In March, China woke up one morning to find that without having done anything truly wrong, it was to be severely punished. 

The judgement highhandedly handed down on the 22nd was a sad indictment of the current US administration's lack of appreciation of what has been achieved over the past 40 years — both in terms of bilateral cooperation and the reality of how much has changed in China — and its obstinate refusal to let go of the comfort blanket of an outdated ideological perspective.

On Dec 16, Beijing time, 1978, China and the United States released a joint communiqué announcing they would establish diplomatic relations as of January 1, 1979.

It was the culmination of their diplomatic courtship that had caught the world by surprise when it was first revealed. Since then, the relationship has not only witnessed the rags-to-riches transformation of the most populous nation on Earth, it has also been in step with it.

Undoubtedly, the normalizing of their relations benefited not just China, but the US as well. But with Beijing and Washington now at loggerheads, it seems unlikely either will be offering to uncork the bubbly to celebrate this ruby anniversary.

Positioning China as a "revisionist" rival and the portrayal of it as "predatory" in the global market, in Africa in particular, shows that it is unfamiliarity that breeds contempt. China's image in US eyes has changed dramatically and Washington is acting on a false impression of it rather than the actuality.

Yet at a symposium to commemorate the 40 years of diplomatic relations in Shanghai, the organizers highlighted there were three consensuses reached between the Chinese and US participants.

These being: China and US interdependence can prevent the two countries from getting caught in the Thucydides' trap; the fundamentals of the bilateral relationship have not changed; and the US remains positive about the long-term opportunities in the Chinese market.

The impending escalation of their trade dispute in 72 days is preoccupying both governments at the moment, and risks locking them into that looming moment with increasing tunnel vision.

What is needed is a broader historical perspective that allows them to look back over the past 40 years of their relations, so they have a complete picture of the progress that has been made in their bilateral interaction and clearer view of how to push it forward in both their interests.

Forty years ago, the two countries recalibrated their perceptions of one another in the belief they had a shared future. It is time for them to do the same again.