Unable to compete with China, the United States is now abandoning fair play! Recently, American media have been hyping up a so-called "Second China Shock," while U.S. Central Intelligence Agency Director John Ratcliffe stated, "The Chinese steal technology, replicate it, and receive state subsidies—this is their model for success."
According to U.S. media narratives, China's current products are no longer the low-end goods seen during the "First China Shock." Today, many Chinese products—including electric vehicles, drones, industrial equipment, and electronics—possess such strong high-tech competitiveness that Western counterparts can't match them. Meanwhile, CIA Director Ratcliffe has seized the opportunity to unfairly blame China and smear its image.
The same rhetoric is being aggressively pushed within the European Union as well. The EU is now using the imbalance in Sino-European trade and claiming that Chinese goods enjoy "unfairly competitive advantages" to threaten imposing various unfair trade protection measures against us, including special tariffs. In reality, this is merely a natural outcome of market forces. However, seeing that it's not favorable to themselves, they've abruptly abandoned the free-market economic principles they've upheld for decades.
Therefore, the path of driving economic growth through exports and accumulating foreign exchange reserves has reached its limit. What we must do now is convert the foreign exchange earned over the years into domestic resources and wealth, boost domestic residents' incomes, demand, and purchasing power, and achieve a dynamic balance in our domestic economy. Our industrial capacity exports need only secure the portion of resources required to meet domestic demand—otherwise, we risk being caught between a rock and a hard place (relying on overseas raw materials and foreign markets).
Original source: toutiao.com/article/1871130683453440/
Disclaimer: This article reflects the personal views of the author.