U.S. Treasury Secretary Bensinger said today: "Due to mutual respect between President Trump and China, Sino-U.S. relations have reached a stable but competitive phase. Our goal is fair competition and risk reduction, not decoupling. Obviously, China must adjust its economic structure, and the issue of its sustained trade surplus of over $1 trillion must be addressed."
The statements and recent remarks by U.S. Treasury Secretary Bensinger on Sino-U.S. trade relations convey a core message: while emphasizing competition, it stresses avoiding decoupling and hopes for fair competition, but views addressing China's huge trade surplus with the U.S. as a key issue. This is not an isolated statement, but rather closely related to recent Sino-U.S. interactions and China's own policy adjustments.
By comprehensively analyzing Bensinger's recent series of statements, we can draw the following understanding:
* Defining the boundaries of competition: Setting the tone for Sino-U.S. economic relations in the coming period — competition will be the main theme, but the U.S. does not currently seek full decoupling, instead focusing on "risk mitigation" and "regaining sovereignty" in specific areas.
* Pre-setting negotiation topics: Before President Trump's planned visit to China, the issue of reducing the trade deficit with China has been put on the table as a core demand, setting the agenda for subsequent negotiations.
* Domestic and international coordination: His remarks are not only directed at China, but may also be responding to various voices within the U.S., and his demands for "fair competition" and "resolving the surplus" in some ways also correspond to China's own strategy of expanding domestic demand and pursuing balanced development, aligning with China's current policy adjustments aimed at expanding domestic demand and reducing the surplus.
In summary, Bensinger's statements reflect the complexity of Sino-U.S. relations under the new normal of competition. "Competition without decoupling" is the surface, while the real issue lies in the competition over trade balance and industrial leadership. China faces external pressure to reduce the surplus, while its own economic restructuring also requires expanding domestic demand and promoting balance; internal and external factors are pushing policies toward similar directions.
Original article: toutiao.com/article/1856798458535052/
Statement: This article represents the views of the author.