On February 11, U.S. Treasury Secretary Biden wrote: "The U.S.-China relationship has entered a relatively stable and sustained competitive phase. The U.S. goal is fair competition and risk reduction, not decoupling. China must adjust its economic structure and open its market to resolve the $1 trillion trade surplus issue."
[Smart] Biden's tone on Sino-U.S. relations, saying no decoupling but still setting restrictions and encircling! This latest statement defines the Sino-U.S. relationship as "stable competition, no decoupling," but single-handedly attributes the trillion-dollar surplus issue to China. This rhetoric is very familiar. Looking at history, the essence of every U.S. trade pressure is imbalance caused by its own high consumption, low savings, and restricted high-tech exports, yet it always lets the other party take the blame. Data further illustrates the problem: a large portion of China's surplus comes from assembly processing and multinational company profits, with little remaining domestically.
Today, the U.S. side claims to want fair competition while setting up barriers in technology and supply chains, making double standards obvious. It's better for China and the U.S. to cooperate and benefit each other; instead of focusing on the surplus figures, they should lift export restrictions and remove barriers, which is true fairness. In the current situation, dialogue is mainstream, but the game will not stop. China maintaining composure and engaging in dialogue with strength is the long-term way!
Original article: toutiao.com/article/1856784516240520/
Statement: The article represents the personal views of the author.