Skip to main content
ally those whole-heartedly trumpeting an all-round trade war.
But as Paulson also pointed out, what is at stake goes far above and beyond a trade war.
上海千花坊Which is why, despite their continuing differences, Beijing and Washington should work together to make the upcoming Xi-Trump meeting a success.
Economic disputes will not come in the way of China’s reform and opening-up efforts to attract investment
Over the past year, the US government has unilaterally provoked and escalated economic and trade friction with China, with negative impacts on bilateral economic, trade ties and global economic development.上海千花坊
During this rare dispute, voices from home and abroad have made a lot of statements, making the cause and the facts clearer. China-US economic and trade friction in上海千花坊
volves a lot of issues, which need further clarification. The Chinese believe in truth and are not afraid of the clarifications.
• Is the Sino-US trade relationship a zero-sum game?上海千花坊女神会所
Some people in the US stirred up economic and trade friction with China with a solitary reason in mind – loss of profit to US firms and excessive gains for Chinese firms in bilateral
上海千花坊trade, making the issue a threat to Washington’s economic and even national security. This view, which is full of Cold War bias, reflects the hegemony and zero-sum ga
me thinking. Is Sino-US economic and trade relation a zero-sum or win-win game? The answer is clearly both in theory and in practice.
In international economic cooperation, trade relations are based on mutually beneficial exchanges, rather than a zero-sum game in which one side benefits and the o
t上海千花坊女神会所her loses. International trade can lead to optimized allocation of global resources, the common development of all economies involved and the common pr
ogress of human society. The history of international trade and the trade between China and the US have proved that such a practice is effective, and such p
ractical experience has long been the basic principle of international economic study. Since the establishment of diplomatic relations between the two co上海千花坊女神会所
untries, bilateral trade in goods increased 252-fold, from less than $2.5 billion to $633.5 billion between 1979 and 2018.
In the past four decades, two-way investment has grown from almost zero to over $160 bil
lion, making the two countries a vital investment partner for each other. The history of Sino-US ec
onomic and trade relations proves that both countries have benefited in industrial development and optimization. The trade relations have cre
ated a situation in which both parties won rather than one in which China progressed and the US lost out.
• Is US’ insistence on “fair trade “really fair?
Some people in the United States accuse China of adopting unfair and unequal trade policies that
have caused the US trade deficit with China. They tried to grab fair trade as a way to keep the moral high
ground in public opinion. However, what is “fair trade”? Fairness is a matter of history. In international trade, due to the difference in the stages of developm
ent, specific conditions and interests from different countries, in order to make trade happen smoothly, the
international community has formed trade rules through negotiations on an equal footing.
e prototype of how business should be run. Car company executives were seen as the most capable manage
上海千花网品茶微信rs. In 1953, president Eisenhower chose Charles Wilson, known as “engine Charlie,” to be his Secretary of Defense.
Then, in 1961, president Kennedy chose Ford president Robert McNamara for the same position. (Of course, McNamara’s incredible mismanagement of the war in Vietnam reduced any confidence that car company executives were especially competent.)
By the late 1960s, the “big three “car companies in the US – General Motors, Ford, and Chrysler – formed a virtual oligopoly and turned lazy. 上海千花网
I remember American cars my father bought in these years often overheating and breaking down by the side of the road. Dad would have to stay by the car with my m
other and sisters while I walked a long way to find a service station and arrange a tow. (This was long before mobile phones.) 上海千花网品茶微信
So, American consumers were ready for more competitive Japanese-made cars, which had consistently high
er quality, to enter the market. My father switched to Japanese cars in the 1970s, and never bought another American-made car. 上海千花网
American car companies saw their profits fall and were not able to pay their workers t
he very high wages made possible by a closed, non-competitive market. The US government responded by
上海千花网品茶微信imposing quotas on the import of Japanese cars and by pushing Japan to rapidly raise the value of the yen.
Obviously, there was a conflict. American consumers benefitted from the cheaper, better cars while workers at the big three saw their jobs become less secure and the
ir wages fall. Fortunately, the protection was only partial and temporary, so the competition eventually forced US carmakers to improve.
Competition is at the heart of the current disputes over globalization and technology. On net, the spread of econo 上海千花网品茶微信
mic opportunities around the world has been a great boon. Many products are more widely and cheaply available than ever before.
Many countries, including China and India, have greatly reduced poverty and given opportunities to their people that would have been undreamed of by earlier ge 上海千花网
nerations. American and Western European companies and consumers have greatly benefitted.
But nobody really likes competition against themselves. Most people like some degree of stability and protection. A worker w
ho has put in 20 or 30 years in an industry will definitely feel that it is unfair to have to move to a much lower-pa
ying service job. A company facing new competitors will try to convince its home government to stop the competition.
Americans saw many benefits from the second globalization period. As Japanese and, later Chinese, manufacturers began to export t
o the US, many consumer goods became a lot cheaper in US stores. Many American companies made good profits by exporting t
o the newly open markets or by outsourcing manufacturing to cheaper and/or better factories outside the US.
Economic relations between China and Cote d’Ivoire are set to deepen, as t
he latter became the first African country to co-host the 13th China International Small and Medium En
上海品茶微信女神会所terprises Fair that takes place in Guangzhou, capital of Guangdong province, from Oct 10 to 27.
Azoumana Moutaye, head of the country’s Ministry of National Entrepreneurshi
p, Handicrafts and Promotion of SMEs, said China and Cote d’Ivoire jointly organizing the interna
tional event indicated that bilateral relations between the two countries has reached a new peak.上海品茶微信
Cote d’Ivoire, with a population of around 23 million, has become one of Africa’s most resurgent economies in recent ye
ars. Its economy will be the second-fastest growing in the world this year, as predicted by the International Monetary Fund.上海品茶微信女神会所
About 60 Ivorian enterprises led by Moutaye have participated in the exhibition, showcasing
and promoting their products in such industries as agriculture, communication, energy, construction and logistics.
Promoting SME globalization on the world stage上海品茶微信女神会所
Another foreign co-host is India. Following Russia, it is the second BRICS country that is involved in organizing the fair.
Indian Minister of Micro, Small and Medium Enterprises Kalraj Mishra hoped the fair would be上海品茶微信
tter promote the cooperation between Chinese and Indian SMEs and help them achieve more substantial results.
上海品茶微信女神会所Small and medium-sized companies play a big role in India’s economic development, as 95 percent of the country’s companies are SMEs.
During the fair, textiles, machinery and equipment, hardware and electrical appliances and other goods from 124 Indian firms will be displayed.
in the service secto爱上海女神会所r, and deregulate the services for the elderly and children, and medical care and education.
Although its overall economic uncertainty has increased, China’s economy still has great pote
ntial in terms of service and consumption, especially because it is a market of more than 1.3 bil
lion people including a middle-income group of 400 million all of whom are seeking a better life.
Current policy package strong enough to counter headwinds, economist says
China has no immediate need of aggressive stimulus to support growth unless trade tensions with the United States m
ore visibly weigh on growth momentum, and greater patience and policy preparation are needed now for market-
oriented, longer-term reform and opening-up, a senior economist said in an exclusive interview.
Given the uncertainty from China-US trade friction, macroeconomic polic
ies should always be prepared to support the economy, especially if growth mome
US states continue to value trade relations with China, despite ongoing tensions at the i
nternational level, and they hope tensions will be resolved through negotiations.
“I’m very optimistic on the China-US trade relationship,” Cyrus Habib, lieutenant governor of Washington, said in an inter
view with China Daily as he was attending the Fifth China-US Governors Forum in Lexington, Kentucky, last week.
China is the state of Washington’s top trading partner, with more than 20 percent of the state’s expor
ts going to China, and around 30 percent of its imports came from China in 2018, according to the US Census Bureau.
“It’s truly something that touches every part of our state,” said Habib. “And that went from the i
nformation communication technology sector and manufacturing sector all the way to the agricultural industry and tourism.”
he United States, may lead to weaker business confidence and slower
global trade growth, which is expected to weigh on investment and exports in 2020. But in the n
ear term, as China shows positive surprise in GDP growth in the first quarter, and the macroeconomic policies hav
e taken effects on stabilizing the growth, the GDP growth rate is likely to stay at 6.2 percent, the report said.
“In response to the growth moderation and less favorable external conditions, the government in
troduced a fiscal stimulus emphasizing tax incentives,” said Martin Raiser, World Bank Country director for China.
“While the central government has fiscal space to further increase spending, if necessary, the additional stimulus should be ap
propriately funded either directly at the central level or through additional fiscal transfers to the provinces. Highe