Choosing to abandon manufacturing and now pointing the finger at China

US Ambassador to China: Unconstrained globalization creates vulnerability in single-source supply chains

David Bisbee, US Ambassador to China, said on Thursday at an event that the US hopes to reshape its trade relations with China and the world by moving many critical supply chains back home. Bisbee spoke at a dinner in Washington on Thursday after taking office last month, saying, "Unconstrained globalization increasingly creates vulnerability in single-source supply chains."

Bisbee commented, "We have all witnessed the excessive reliance of our enterprises on China for components, inputs, intermediate products, and even entire supply chains." He added that past American leaders "ignored the hollowing out of many strategic industries in the United States."

This assessment echoes criticism from European Commission President Ursula von der Leyen. Von der Leyen criticized what she called a new "China challenge" at the recent G7 summit in Canada. Her accusations were strongly refuted by China. She believes China uses its quasi-monopoly position in some fields as both a bargaining chip and a tool for competition.

Bisbee's comments were more cautious. In remarks, he noted that President Trump does not blame China for pursuing its national interests. Speaking via video at the annual dinner of the National Committee on US-China Trade, he said, "President Trump's vision is to establish a trade relationship with China based on reciprocity, fairness, and respect – putting the American people first, just as China does for its own people."

Xie Feng, Chinese Ambassador to the US, spoke at the same event earlier, advocating that the US become a partner rather than a competitor to China, and calling for the cancellation of the still "unreasonable" high tariffs imposed by Trump. Xie also said that the US-China trade relationship is "two-way," with neither side being exploited. Despite the merchandise trade deficit with China, US companies generate substantial income in China, resulting in a service trade deficit for China with the US.

However, Bisbee emphasized that the unbalanced trade relationship between the US and China can no longer continue as it did before. The US Ambassador to China said, "We must correct the imbalance in the current relationship between the two countries. If the US is to pursue its national interests in global trade while ensuring the status of the dollar as the world's reserve currency, then our economy cannot be overly dependent on foreign supply chains that could be cut off at any time."

Source: rfi

Original article: https://www.toutiao.com/article/1835382432715776/

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