China Blasts US Trade Protectionism
According to Russian academic Alexander Lukin, hardline US policies toward Russia and China could “lead to confrontation.”
It already has politically and economically. The threat of possible military confrontation remains. Lukin believes the US is “very clearly a declining power,” its influence waning despite its strength, adding:
China accomplished what Soviet Russia failed to achieve. It “created an economically effective model without political dependence on the West. There are already countries which are interested in more cooperation with China than with the US and its allies.”
The Trump regime aims to limit China’s growth, trade disputes a pretext. Washington’s real aim is wanting China co-opted, submissive to its will, an objective it won’t achieve. The country is proudly independent and intends staying this way.
The same goes for Russia. Both nations want cooperative relations with all other countries, including the US, short of subservience.
On Monday, China’s Information Office of the State Council (CIOST) released a white paper, titled “The Facts and China’s Position on China-US Trade Friction,” saying:
“Thanks to economic globalization, economies, particularly the larger ones, are highly interdependent.”
“Ultimately, trade wars unilaterally initiated by the US administration will not only hurt other economies but also undermine US interests.”
The white paper highlights what it calls “six key facts about China-US trade and economic relations,” including:
— “the gap in trade in goods alone is not a good indicator of China-US trade and economic relations;
— the discussion of fair trade should not be detached from the principle of mutual benefit of the World Trade Organization (WTO);
— the accusation that China forces technology transfer is against the spirit of contract;
— China’s huge efforts and achievements with regard to (intellectual property) protection should not be dismissed;
— the Chinese government’s encouragement to Chinese business to go global should not be distorted as a government attempt to acquire advanced technologies through commercial mergers and acquisitions;
— China’s subsidy policy complies with WTO rules and should not be attacked.”
Trade protectionism is mutually harmful. Trump regime tariffs on Chinese products increase their cost for US businesses and consumers, resulting in thousands of lost jobs – a hugely counterproductive policy.
Whoever is advising Trump on economic and trade with China is a fifth column threat to bilateral interests.
In early May, the US National Taxpayers Union warned the executive and Congress that tariffs on imports from China and other countries would drive up costs and harm the economy.
They’ll automatically trigger countermeasures, assuring losers, not winners, the way all trade wars turn out – foolhardy to initiate. Yet they foolishly erupt at times like now.
Offshoring of US jobs and operations to China and other low-wage countries are to blame for America’s huge trade deficit
Blame US industries for their policies, not recipient countries like China and others.
Trump regime economic trade policies toward Beijing are undermining decades of bilateral efforts to resolve differences equitably, according to the CIOST.
The white paper blamed Trump’s America First agenda for “unilateralism, protectionism and economic hegemony, making false accusations against many countries and regions, particularly China, intimidating other countries through economic measures such as imposing tariffs, and attempting to impose its own interests on China through extreme pressure.”
The Trump regime imposed tariffs on $250 billion worth of Chinese products, vowing another $267 billion more if Beijing retaliates.
Imposing sanctions on China for buying Russian aircraft and S-400 missile defense systems resulted in Vice Premier Liu He cancelling his scheduled September 24 visit to Washington, hoping to resolve trade differences after four failed attempts.
Like all countries, China wants and deserves respect in bilateral relations with America and other nations.
Its new white paper stressed it, saying “(t)he door for trade talks is always open, but negotiations must be held in an environment of mutual respect. (They) be carried out under the threat of tariffs” – or unacceptable sanctions.
US tactics most often rely on pressure, threats, and bullying to get its way – even with allies.
It usually works with nations easy to push around – not powerful ones like China and Russia, able to retaliate strongly against unacceptable toughness.
According to the Wall Street Journal on Monday, Trump is expected to instruct his trade representative Robert Lighthizer to begin preparing tariffs on all remaining Chinese imports.
If implemented and responded to by Beijing as expected, a full-blown trade war will follow with no foreseeable resolution any time soon.
World markets are sure to react negatively to what Western ones have largely ignored so far – because of “a material impact on global growth,” economist Brian Coulton explained.
How seriously depends on how far Trump regime trade hawks intend pushing things for how long.
My newest book as editor and contributor is titled “Flashpoint in Ukraine: How the US Drive for Hegemony Risks WW III.”