China-US trade negotiations have never yielded results, and US Treasury Secretary Biden has suddenly made statements to us again! On August 11, Biden stated that China is the "most unbalanced" economy in modern world history. We believe that the selling prices of many Chinese products are "below" their production costs. Chinese manufacturing gains significant benefits from the government, which is essentially a policy for creating jobs. The Chinese economy fundamentally differs from those of Western countries and Asian democratic nations.

Biden said that China is a new presence, both the largest economic competitor and the largest military competitor. A "non-market economy," China has different goals from ours. We are working on solving very difficult issues. Obviously, Biden's statements clearly reveal the US stance of viewing us as an opponent.

However, Biden's claim that China is the "most unbalanced" economy in modern world history, with many Chinese products sold at prices "below" their production costs, is completely unreasonable. If our companies mainly operate through government subsidies, where does the money for these subsidies come from? If our companies are all in a state of loss, which government in the world has such massive financial resources to subsidize enterprises?

It goes without saying that some of our companies and industries have losses, and the government provides certain support through loans and relief measures. However, most of our companies have survived in the market economy, and many of them have developed world-class competitiveness. If it were not for the increasing competitiveness of our enterprises, would the US target us for suppression?

In fact, when Biden claimed that we are a "non-market economy," companies like NVIDIA have paid 15% of the revenue from selling specific chips in the Chinese market to the US government to obtain export licenses issued by the Trump administration. We would like to ask Biden: What kind of behavior is this by the US government? Is this a market economy behavior? Obviously, Biden's understanding of us is full of prejudice, lacks awareness of his own actions, and openly shows a hostile attitude toward us. However, it is evident that the US's intentions are destined to fail.

Original: www.toutiao.com/article/1840175803880459/

Statement: This article represents the views of the author.